Index trend and stocks in action July 17, 2017

On Friday, after a gap up-opening Nifty started to drift lower and registered low of 9,845 level. However, buying interest emerged at lower levels and Nifty ended the session with marginal losses. On the daily chart there is a formation of ‘Hanging Man’ like candlestick pattern. Going forward, Nifty may face resistance in the range of 9,910-9,940. On the flip-side, supports are seen at 9,840 and next support around 9,800 levels. The 14-period on the RSI has scaled near to the upper band of the range, hence, a consolidation and a minor dip may be in offing in the coming trading session.

Cadila Healthcare: Zydus receives tentative approval from the USFDA for Fingolimod Capsules.

Alkem Laboratories: US FDA had conducted an inspection at the company's Bioequivalence facility located at Taloja, India from 10th July, 2017 to 14th July, 2017. At the end of the inspection, no Form 483 was issued.

Suzlon Energy: Suzlon Energia Eolica Da Brasil (“SEOB”), a step down wholly-owned subsidiary of the Company filed for voluntary liquidation.

IGL: The company has received the permission as of now, from Director of Industries & Commerce, Haryana to lay CGD network in Gurugram in the area between the west side of Sohna road and National Highway- 8 of Gurugram.