Index trend and stocks in action August 18, 2017

In the last trading session Nifty opened the session slightly higher and later profit booking emerged at higher levels and by the end of the day Nifty gave almost entire gains to end flat. A negative candle has been formed on the daily chart after a sharp up-move. Now going forward important support for the index is placed around 9,870 and if Nifty slips below this support level, it would trigger profit booking, which may take Nifty towards levels of 9,830 and 9,800. On the higher side, nifty has resistance placed in the region of 9,935-9,950 and if it holds above this resistance zone next resistance is placed in the region of 9,980-10,000.

Raymond: Raymond acquires JK Ansell’s stake in sexual wellness brand Kamasutra. 

Indo Count Industries: CARE has Upgraded Credit Rating of Long Term Bank Facilities to CARE AA (Double A) with Stable Outlook from CARE AA- (Double A minus) and reaffirmed credit rating of CARE A1+ for Short-term Bank Facilities. 

PNB: The Bank has decided to introduce a two tier interest rates structure on savings fund deposit schemes. Saving fund account balance up to Rs 50 Lac rate of interest 3.50 per cent p.a. and Savings fund account balance of above Rs 50 Lac rate of interest 4 per cent p.a.

Somany Ceramics: M/s Sudha Somany Ceramics Private Limited, an Associate of Somany Ceramics Limited is setting up a facility in Andhra Pradesh to produce about 5.00 million square meters of vitrified tiles. The same is expected to be commissioned in the last quarter of financial year 2018-19.