Index trend and stocks in action June 05, 2017

On Friday, Nifty opened the session with an upside gap and later on shifted into intraday consolidation for the major part of trading session. Finally, Nifty ended the session with over a quarter per cent gains.  On the daily chart Nifty has formed a small body negative candle and formation this small body candle is placed right at the upper end of the parallel channel . Now going forward Nifty may face resistance around levels of 9700 and if holds above this level it may scale higher up to levels of 9730. While on the downside, immediate support comes in at 9620-9630 and breach of this support zone may drag index up to levels of 9580-9550.

NTPC: 117 MW out of 250 MW of Mandsaur Solar Power Project of NTPC Limited has been commissioned. With this, the installed capacity of NTPC's solar power projects has become 737 MW. The total installed capacity of NTPC on a standalone basis has become 44311 MW and that of NTPC group has become 51527 MW.

Tata Communication: Batelco, Bahrain’s leading digital communications solutions provider and Tata Communication have signed an agreement further strengthening their partnership to extend the reach of their global data centre, cloud and connectivity solutions to their customers.

Reliance Communication: Lenders give company time of 7 months till December 2017 to repay debt.

Mawana Sugars: Agreed for one-time settlement of its debt worth Rs 43.21 crore owned by State Bank of Hyderabad.