Index trend and stocks in action June 23, 2017
Chirag Gothi / 23 Jun 2017
Nifty index has immediate support placed in the range of 9580-9600, and if it slips below this support zone, the next support is likely to come in around the level of 9550.
On Thursday, Nifty opened the session on an optimistic note and, thereafter, it extended its upmove during the first half of the trading session. However, Nifty faced strong supply near the zone of 9700 and it erased the entire intra-day gains to close with modest loss. On the daily chart, Nifty has formed a ‘Shooting Star’ like pattern. Now, going forward, Nifty index has immediate support placed in the range of 9580-9600, and if it slips below this support zone, the next support is likely to come in around the level of 9550, while on the upside, resistances are seen in the zone of 9680-9700. It is important for Nifty to sustain above the level of 9700 for the bullish momentum to continue, whereas a close below the level of 9580 may invite weakness in the short term.
Wockhardt: Wockhardt and its Subsidiaries settle with Teva and its Affiliate a commercial litigation in the High Court, London.
Mindtree: To consider buyback of equity shares on June 28.
Eid Parry: Parry Nutraceuticals and Synthite Industries forge Partnership for extraction of Phycocyanin.
La opala: Settles dispute with workers union at its Madhupur plant. Operations to return to normalcy by July 10.
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