Index trend and stocks in action June 20, 2017

On Monday, Nifty started off the session with an upside gap and later it shifted into sideways range, however, in the afternoon session nifty breached the sideways range and surged higher to close with gains of 0.72 per cent. On the daily chart Nifty has formed a long bull candle, which indicates bulls had upper hand. Now going forward, Nifty has resistance placed around level of 9685, if it moves above this resistance it may move towards to its lifetime high of 9709 and above it may touch level of 9750. While on the downside supports are placed at 9620 and at 9580.

Spicejet: Spiecjet and Boeing signed a memorandum of understanding for 40 737 MAX airplane. The agreement, valued at approximately USD 4.74 billion.

Biocon:  The board of directors of the company has allotted 40 crore equity shares of Rs 5 each as fully-paid up bonus equity shares, in the ratio of 2 equity shares for every 1 equity share held, to the eligible members whose names appear on the register of members/list of beneficial owners as on June 17, 2017, being the record date fixed for this purpose.

Bharati Defence and Infrastructure: Edelweiss Asset Reconstruction Company initiates Corporate Insolvency Resolution Process against the Bharati Defence and Infrastructure.

Rama Steel Tubes: Rama Steel Tubes, a leading player in the manufacturing of ERW pipes, has installed solar project at Khopoli facility, Maharashtra. Its solar project will be generating 1100 MWh per year of energy, same amount of energy needed to power the installed and upcoming capacities.