Index trend and stocks in action June 15, 2017

On Wednesday, Nifty opened the session on a muted note and slipped into intraday decline in early part of the trading session and buying emerged during the afternoon session and Nifty ended with marginal gains. On the daily chart, Nifty has formed a ‘Hammer’ like candle and it has occurred near the crucial support area, usually a formation of hammer pattern after a reasonable down-move act as a reversal pattern, however, confirmation is required. Now going forward, the level of 9580-9570 may act as a crucial support area, however, if this support is breached the next support are seen at 9550-9530. Whereas, on the upside, the level of 9650 may act as an immediate resistance zone and if nifty holds above this zone it may scale up to levels of 9710-9750.

Wipro: Wipro has won an IT Applications Managed Services engagement with Valmet, a leading global developer and supplier of technologies, automation and services for the pulp, paper and energy industries.

Repco Home Finance: The Securities Allotment Committee of the Board of Directors at its meeting held on June 14, 2017, has inter alia approved the allotment of 2,720 Secured, Redeemable, Non-Convertible, Non-Cumulative Debentures (SRNCD) of face value of Rs 10,00,000 each aggregating to Rs 272 crore on private placement basis to M/s. International Finance Corporation.

TCS: TCS TAP Platform recognised as a Strong Performer in eProcurement.

M&M Financial Services: Issued and allotted NCDs worth Rs 200 crore.