Index trend and stocks in action June 27, 2017

On Friday, Nifty started the session on a flat note, and after registering the day’s high of 9648, a sharp fall was seen and Nifty ended the session down by 0.57 per cent. On the daily chart, a long range negative candle has been formed. Now, going forward, the zone of 9555-9540 is a crucial support area for the Nifty as the 30-day EMA is placed around this zone. Additionally, the 14-period RSI is hovering near 51 and, on a previous occasion, the daily RSI had turned up from the level of 48-50, after declining form the highs of 70. Hence, the zone of 9540-9555 is very crucial for the Nifty and a close below this zone may open up for a down-move up to the level of 9500. On the upside, immediate resistance is seen at the level of 9600 and the next resistance around the level of 9650.

Sun Pharma: Sun Pharma and National Institute of Virology (NIV) signed an agreement for testing phytopharmaceutical, biologic and chemical entities developed by Sun Pharma against Zika, Chikungunya and Dengue viruses.

Cadila Healthcare: Board approves raising funds worth Rs 18,500 crore.

Reliance Industries: Seeks shareholder approval to issue NCDs worth Rs 25,000 crore.

Sterlite Technologies: Sterlite Tech selected for Kakinada Smart City Project.

Ceat: Board approves investment of Rs 7 crore in Tyresnmore Online Pvt. Ltd. in one or more tranches.

BHEL: BHEL registers significant increase in intellectual capital; files two patents/copyrights a day; highest R&D spender in engineering an manufacturing sector.