Index trend and stocks in action October 05, 2017
DSIJ Intelligence-3 / 05 Oct 2017
Going forward, the level of 9,930-9,940 is likely to act as an immediate resistance and above this level of 9,990 may act as a stiff resistance as 61.8% retracement stands at this level. On the downside, level of 9,880 and 9,850 are crucial support areas for the Nifty index.
During the previous trading session, Nifty started the day on a positive note and soon after opening the market extended gains and in the last leg of trade volatility was seen, but Nifty managed to hold to their gains and ended the session above 9,900 mark. Nifty faced resistance around its 50% retracement of recent fall. Going forward, the level of 9,930-9,940 is likely to act as an immediate resistance and above this level of 9,990 may act as a stiff resistance as 61.8% retracement stands at this level. On the downside, level of 9,880 and 9,850 are crucial support areas for the Nifty index.
SBI: With Arundhati Bhattacharya’s term at the helm of SBI ending on 6 th October, Rajnish Kumar would be taking over as SBI chairman for a period of three years.
Sun Pharmaceutical: CRISIL has rated the commercial paper of the company as CRISIL A1+ rating. Further CRISIL has also reaffirmed ratings of CRISIL AAA/Stable and CRISIL A1+ on the long term and short term bank facilities of the company, respectively.
ONGC: ONGC completed acquiring 30% participating interest in Namibia offshore blocks.
HDFC: Company had informed that the profit on sale of investments for the quarter ended September 30, 2017 was Rs 65 crore compared to Rs 28 crore in the corresponding quarter of the previous year.
NMDC: NMDC set lump ore prices at Rs 2,300 a tonne and fines price at Rs 2,060 a tonne with effect from October 5, 2017.
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