Index trend and stocks in action October 03, 2017

Nifty after opening with a positive bias and moving higher in the first half of trading session, witnessed sudden bout of selling pressure in the second half of trading session and this resulted in flat closing on the Nifty. The price action formed a small body negative candle with long upper wick, the long upper wick highlights selling pressure at higher levels. Going forward, the zone of 9,685-9,700 is an important support zone and breach of this support may open for further correction up to levels of 9,630-9,600. On the upside, the level of 9,800 and 9,850 may act as a resistances zone on the higher side.

Godrej Properties: Godrej Properties adds a large new residential project in Pune. 

Jindal Poly: Netherlands unit completes acquisition of Apeldoorn Flexible Packaging Holding. 

Punjab Chemicals and Crop Protection: Company has sold their entire shareholding in its Argentina unit through its subsidiaries. 

Eris Lifesciences: Eris Lifesciences has informed the Exchange regarding acquisition of entire shareholding of Uth Healthcare Limited (Uth Healthcare). 

Indianbulls Ventures: Company has decided to raise up to Rs 2000 crores, through issue of its equity shares to its existing shareholder on rights basis (Right Issue). 

Peninsula Land: The company has entered into an agreement to sell, for sale of the property of the company situated at Village Mamurdi, Taluka Haveli, District - Pune, Maharashtra.