Index trend and stocks in action July 04, 2017
Chirag Gothi / 04 Jul 2017
Nifty sustains above the zone of 9650-9660, the next hurdle is likely to come in around the level of 9700. On the downside, the level of 9550 is an immediate support level for Nifty.
On Monday, Nifty started off the session with an opening upside gap and, thereafter, it extended its upmove and ended the session near the highest point of the day. Now, going forward, Nifty has strong resistance placed in the region of 9650-9660, and as long as Nifty stays below this zone, it may be viewed as a pullback rally. However, if Nifty sustains above the zone of 9650-9660, the next hurdle is likely to come in around the level of 9700. On the downside, the level of 9550 is an immediate support level for Nifty. The daily RSI turned up from the level of 42 and, at present, it is quoting around the level of 57. The level of 60 may act as a resistance, but if the RSI moves above the level of 60, it would provide strength to the upside.
Omkar Speciality Chemicals: The company has framed concrete plans for its business expansion by scaling up its activities in the existing segments like pharmaceuticals and related areas. The company would further like to penetrate into segments like fragrances & flavours, foods & beverages, etc. in which new products will be launched in the immediate future. These products will be having end application in FMCG sector.
Sun Pharma: Sun Pharma and Samsung BioLogics announced a strategic long-term manufacturing agreement for Tildrakizumab. The agreement was entered into by Sun Pharma’s wholly-owned subsidiary and Samsung BioLogics.
Yes Bank: To consider stock split and June quarter results on July 26.
Wockhardt: Wockhardt Receives US FDA Approval for Eye Drop for treating Ophthalmic Allergies.
Ambuja Cement: The company has secured limestone block in Maharashtra of 42 million tonne at a final bid price of 125.05 percent of the mineral dispatched.
NTPC: 2nd Unit of 195 MW of Muzaffarpur Thermal Power Station Stage-II (2 X 195 MW) of Kanti Bijlee Utpadan Nigam Limited (a subsidiary of NTPC Limited) is declared on commercial operation. The commercial capacity of Muzaffarpur Thermal Power Station has become 610 MW and that of NTPC group has become 47488 MW.
V2 Retail: Closed one operational Retail store of the company at Lucknow, Uttar Pradesh.
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