Index trend and stocks in action August 22, 2017
DSIJ Intelligence-3 / 22 Aug 2017
Now going forward the zone of 9,685-9,700 is a crucial support zone for the nifty and if nifty slips below the mentioned support zone further weakness could be seen up to levels of 9,600. On the upside, the level of 9,800 and 9,840 would act as a stiff resistance zone.
Nifty in the last trading session opened in the positive territory and it slipped into sharp decline to close near the day’s low. On the daily chart, Nifty had formed a long bear candle, which reinforces the downtrend. Now going forward the zone of 9,685-9,700 is a crucial support zone for the nifty and if nifty slips below the mentioned support zone further weakness could be seen up to levels of 9,600. On the upside, the level of 9,800 and 9,840 would act as a stiff resistance zone.
IntraSoft Technologies: 123Stores, Inc., the multi-channel online retailer, announced that Inc. magazine had placed the company on its 36th annual Inc. 5000 list, which honors the nation’s fastest-growing companies.
ONGC: The Board of Directors at the meeting held on today (21st August, 2017) at New Delhi considered the proposal for acquisition of 51.11 per cent of share of HPCL (Hindustan Petroleum Corporation Limited) from the Government of India and given the 'in principle approval' for the same.
Biocon: Board approves slump sale of its Biosimilars business to M/s Biocon Biologics India Limited.
HCL Infosystems: Signs agreement with Apple India for distribution of iPhone and other Apple products.
Coffee Day: Material subsidiary of the Company 'Coffee Day Global Limited' has acquired a wholly owned subsidiary ONS Ventures SDN.BHD in Malaysia.
Mcnally Bharat Engineering: Company has received an order for work of "Engineering, Procurement and Construction (EPC)" of 8 MTPA capacity Coal Handling Plant (CHP) with allied infrastructural facilities and Operation & Maintenance (O&M) of the CHP for initial two years and Supervision & Handholding for one year at Manoharpur Coal Mine of Odisha Coal and Power Limited (OCPL) in the district of Sundargarh, Odisha, for a value of Rs. 514 Crores.
Reliance Capital: Reliance Capital shareholder will be allotted one free share of Reliance Home Finance for every one share held in Reliance Capital.
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