Index trend and stocks in action June 28, 2017
Chirag Gothi / 28 Jun 2017
Now going forward, the level of 9450 is likely to act as a support level as defined by the 50-day EMA. On the upside, the level of 9550 is likely to act as an immediate resistance zone.
On Tuesday, Nifty opened on a flat note after a long weekend and drifted lower, and at one point of time, Nifty was trading below the 9500-mark. However, recovery was seen in the last half-an-hour of trading, which helped Nifty to hold on to the level of 9500 on a closing basis. On the daily chart, yet another long range negative candle had been formed. Nifty slipped below the crucial level of 9550 as defined by the 30-day EMA, and now going forward, the level of 9450 is likely to act as a support level as defined by the 50-day EMA. On the upside, the level of 9550 is likely to act as an immediate resistance zone, and if it manages to sustain above this level, it may move up to the level of 9600. However, the daily 14-period RSI is trading near to the level of 44, it is the lowest level on RSI in the past two months, and now the level of 40 is a key level to watch out for.
HPCL: The Board of Directors had approved the proposal for issue of Secured/Unsecured redeemable non-convertible Bonds/ Debentures ('Bonds') of face value aggregating upto Rs 6,000 crore (from domestic as well as overseas market), subject to the approval of shareholders.
Omax Autos: The company has closed manufacturing activities in its unit named ‘Automax (A unit of Omax Autos Limited)' situated at Delhi-Jaipur Highway, Binola, Gurgaon.
Indiabulls Real Estate: The company has acquired the entire minority stake of 10.08 percent in Indiabulls Infraestate Ltd. (IIL) from IL&FS Fund entities for a total consideration of Rs 358.44 crore. With this IIL becomes the wholly-owned subsidiary of the company.
Country Club: Board approves the sale of assets for the purpose of debt reduction of the company.
Federal Bank: Approved the closure of the issue period for the QIP on June 27, 2017 and sets its issue price at Rs 116 per share.
Dena Bank: Shareholders approve of raising Rs 1,800 crore via QIP issue.
Cadila Healthcare: Zydus receives final approval from the USFDA for Entecavir Tablets.
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