Index trend and stocks in action July 28, 2017
DSIJ Intelligence-3 / 28 Jul 2017
The zone of 9920-9930 shall act as a key support zone and if this support is breached next support is seen at levels of 9840. On the upside, level of 10,100-10,120 will act as a strong resistance zone for the Nifty.
On Thursday, Nifty opened with an upside gap and extended its up-move thereafter. However, in the second half of trading session, its trajectory turned downwards and closed the day on a flat note. On the daily chart, a negative candle has been formed with long upper wick, which is indicating selling pressure at the higher levels. The zone of 9920-9930 shall act as a key support zone and if this support is breached, next support is seen at levels of 9840. On the upside, level of 10,100-10,120 will act as a strong resistance zone for the Nifty.
Axis Bank: Re-appoints Shikha Sharma as managing director and chief executive officer for a period of three years.
Dish TV: NCLT approves the scheme of arrangement amongst Videocon D2H and Dish TV.
Sun Pharma: The company has increased stake in Zenotech Labs to 57.56 per cent from 46.85 per cent for a cash consideration of Rs 85.50 crore. The company is one of the promoters of Zenotech along with Daiichi Sankyo Company.
Shree Renuka Sugar: Shree Renuka Sugars Ltd. announces an additional investment by Wilmar accompanied by a comprehensive debt restructuring exercise.
Nava Bharat Ventures: The 300 MW Power plant of Maamba Collieries Limited, the step down subsidiary of the Company begins commercial operation.
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