Index trend and stocks in action August 31, 2017
DSIJ Intelligence-3 / 31 Aug 2017
Now going forward the zone of 9,930-9,950 is a key hurdle for the index and if it sustains above this zone it may extend its up-move up to levels of 10,000. Whereas on the downside support is pegged around levels of 9,850 and next support is seen around 9,800 levels.
During the last trading session, the index witnessed a gap up opening and it held gains throughout the session, however, it failed to close above the important psychological mark of 9,900. Now going forward the zone of 9,930-9,950 is a key hurdle for the index and if it sustains above this zone it may extend its up-move up to levels of 10,000. Whereas on the downside support is pegged around levels of 9,850 and next support is seen around 9,800 levels. Overall, Nifty has stuck up in a range and decisive move on either side of the range will open up for a trending move. Today being August series F&O expiry expect volatility in the market.
Biocon: The US FDA extends target action date for the breast cancer drug, Trastuzumab to December 3, 2017. This three months extension has no impact on the anticipated timetable for commercialization of this product in the U.S.
Aksh Optifibre: Aksh optifibre’s service divison bag National level banking correspondent contract from Bank of Baroda. Under this programme AKSH plans to setup 5,000 banking kiosks through its flagship service arm “1 STOP AKSH” in the upcoming year.
Reliance Industries: Company has set September 9, 2017 as a record date for bonus.
Wipro: The Company has fixed September 15, 2017 as record date for the buyback.
Majestic Auto: Board approves sale of assets worth up to Rs 300 crore.
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