Index trend and stocks in action June 14, 2017

On Tuesday, Nifty opened the session on an optimistic note and it extended its upward movement in the first half of the trading session. However, the profit booking in frontline blue-chip stocks in late hours of trade dragged the key indices below the neutral lines. On the daily chart, Nifty has formed a small negative candle with the long upper wick, which indicates selling pressure at higher levels. Going forward, the level of 9,580 is a crucial support level for the Nifty, if Nifty slips below this support level it may slide further up to levels of 9,550-9,530. Whereas on the upside, the zone of 9,650-9,660 is a resistance zone for the Nifty and if it holds above this zone it may scale to levels of 9,700-9,710.

Dr Reddy’s Laboratories: Dr. Reddy's API manufacturing plant at Miryalaguda receives EIR from the USFDA following the closure of the Audit.

Mahindra & Mahindra: M&M said its board has approved the sale of a part of shareholding in its arm Mahindra Logistics.

Greaves Cotton: Enters into an agreement with Pinnacle Engines Inc., U.S.A. for three-wheelers in India.

JSW Steel: Crude steel production grew one percent to 13.57 lakh tonne in May 2017 from 13.48 lakh tonne last year.