Index trend and stocks in action July 07, 2017
Chirag Gothi / 07 Jul 2017
Only if Nifty manages to sustain above this resistance zone, it may extend its upward rally up to the levels of 9780-9800.
On Thursday, Nifty started on a positive note, and as the day progressed, Nifty extended its gains to touch the magical mark of 9700. However, it failed to pierce the level of 9700 and fell from the higher levels to settle at 9675. On the daily chart, Nifty has formed a positive candle along with long upper wicks, which suggests that Nifty tested the major hurdle of 9700 but faced selling pressure at that level. Hence, now going forward, the level of 9700-9710 will continue to be a decisive resistance zone on the upside. Only if Nifty manages to sustain above this resistance zone, it may extend its upward rally up to the levels of 9780-9800. However, on the downside, immediate supports are seen at the levels of 9650 and 9600. The daily RSI has managed to cross the 60-mark, which is positive for the Nifty.
Emkay Global Financial Services: The Board of Directors has considered and approved raising of funds of Rs 150 crore through issuance of equity shares by various means including QIP/ADRs/ GDRs/ FCCBs or combination thereof.
Bharat Forge: Kalyani Strategic Systems Limited, a subsidiary of Bharat Forge and Israel Aerospace Industries (IAI) expands JV to build new Maintenance Centre in India for Selected Advanced Air Defense Systems.
Philips Carbon Black: Shareholders approve the scheme of amalgamation with Goodluck Dealcom Pvt. Ltd.
Techno Electric and Engineering: Board of Directors approved the Scheme of amalgamation of the Company with Simran Wind Project Limited, a wholly owned subsidiary of the company.
Navin Fluorine: Shareholders approve the sale of the undertaking of the company at Dahej, Gujarat.
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