Index trend and stocks in action May 19, 2017
Shital Jibhe / 19 May 2017
On Thursday, Nifty opened with a gap down, filled the gap in the morning session itself and then gave a free fall thereafter to close nearly 1% down from the previous close.
On Thursday, Nifty opened with a gap down, filled the gap in the morning session itself and then gave a free fall thereafter to close nearly 1% down from the previous close. Nifty broke our major supports at 9470-9450 and closed at 9429, making a low of 9418. Hence, if the correction continues for today’s session we hold 9405 as the immediate support followed by 9370 levels. If markets recover, we hold support turned resistances of 9450-9485 for the Nifty. The 14-period RSI fell from 73 to 61 in the previous session. Still at 61 RSI, Nifty sustains potential to give a good momentum going forward.
Tata Coffee: Company posted a threefold jump in its consolidated PAT at Rs 46 crore.
SBI: SBI and Tata Power to post results today.
Sutlej Textiles: Company board has approved Rs 500
Lupin: Company received USFDA approval for its generic tablets used Schizophrenia Or Bipolar Disorder.
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