Index trend and stocks in action August 11, 2017
DSIJ Intelligence-3 / 11 Aug 2017
Now going forward the level of 9730 is likely to act as a strong support zone and if this support is level breached next support is likely to come in around levels of 9670.
Nifty continued its losing streak for the fourth consecutive trading session. On the daily chart, Nifty had formed a long bear candle for the 3rd consecutive day. Going forward, the level of 9,730 is likely to act as a strong support zone and if this support level is breached next support is likely to come at around the levels of 9,670. On the upside, the level of 9,880-9,900 is a key resistance zone and if it sustains above 9,880-9,900 it may extend its up-move up to levels of 9,930. The daily RSI is quoting around levels of 43 and as per the range theory, the daily RSI may turn around levels of 40.
Tata Motors: Tata Motors and Skoda cease discussions around the potential partnership.
Hinduja Ventures: Subsidiary of company receives NCLT approval for demerger
J Kumar Infra and Prakash Industries: Both the company to start trading with effect from 11th August 2017 with 20 per cent circuit filter.
Quess Corp: Capital Raising Committee of the Board of Directors of the company approves share issue proposal at Rs 800 to Rs 820 a share via IPP.
Gitanjali Gems: Gitanjali Group has undertaken consolidation exercise of Group’s US business. This consolidation exercise is undertaken with a view to reduce cost and improve efficiency of operations.
Punj Lloyd: The company has won an EPC railway contract worth Rs 478 crore for 108.75 km of doubling work between Phulera – Degana in Rajasthan awarded by North Western Railway.
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