Index trend and stocks in action September 12, 2017

During the last trading session, Nifty opened the session with an opening upside gap and it crossed its swing high of 9,888. At the end of the day, Nifty ended the session above 10,000 mark. On the daily chart, Nifty formed a bullish candle. Going forward, the level of 10,040-10,045 may act as a resistance level as it is 78.6% retracement level of the August fall and next resistance may be seen around levels of 10,080. On the flip side, the level of 9,970-9,980 may act an immediate support level and if Nifty breaches this support next support is seen around 9,920-9,930 levels. The daily 14-period RSI is quoting around 58 and if it crosses the level of 60, it may witness further strength.

Wipro: Wipro announced the launch of an Automotive Centre of Excellence (CoE) in Timisoara, Romania.

Indiabulls Real Estate: Indiabulls Real Estate Limited ('the company'), through its wholly-owned subsidiary, Ashkit Properties Limited, has acquired a prime commercial land admeasuring 13,519 sq. meters on National Highway 8 (Plot No 20, situated in Sector 18, Urban Estate, Gurugram).

InterGlobe Aviation: Company to sell 3.35 crore equity shares. Fresh issue of 2.23 crore shares and offer-for-sale by promoters of 1.12 crore shares.

Bharti Airtel: Bharti Airtel announced the launch of its Voice over LTE (VoLTE) services in Mumbai.

NTPC: 40 MW out of 50 MW of Rojmal Wind Energy Project of NTPC Limited in Gujarat has been commissioned. 

Tata Steel: Tata Steel UK has received confirmation from The Pensions Regulator that it has approved a Regulated Apportionment Arrangement (RAA) in respect of the British Steel Pension Scheme (BSPS). The BSPS has now been separated from Tata Steel UK and a number of affiliated companies.  As a part of RAA, a payment of £550m from Tata Steel UK has been made to the BSPS and shares in Tata Steel UK, equivalent to a 33% economic equity stake in the company, have been issued to the BSPS Trustee under the terms of a shareholder’s agreement.