Index trend and stocks in action October 09, 2017
DSIJ Intelligence-3 / 09 Oct 2017
Going forward, the index is likely to maintain positive bias with resistance placed at 9,990-10,000 levels followed by 10,040. In case of pullback, the index is likely to see supports at 9,930 and 9,880 levels.
The Nifty index opened Friday’s session in positive terrain and shifted into up move as the day advanced. By the day’s end Nifty settled at 9,980 with gains of 91 points. Friday’s price action formed a long bull candle and a close above the 50-SMA towards finishing off the week, suggesting a further up-move in the coming trading sessions. Going forward, the index is likely to maintain positive bias with resistance placed at 9,990-10,000 levels followed by 10,040. In case of pullback, the index is likely to see supports at 9,930 and 9,880 levels. The RSI, after marking low of around 34 level has entered into rising trajectory and is expected to move up to the upper range of 60 levels from the present perusing of 54.
Axis Bank: The Bank has completed the acquisition of Freecharge for a cash consideration of Rs 373.27 crore, on a cash-free, debt-free basis.
Zeel: The company has a cquired 100% Equity Stake in 9X Media Private Limited and its subsidiaries and also acquired a balance of 26% Equity stake in Zee Turner Limited.
Oriental Bank of Commerce: RBI has put the bank under prompt corrective action in view of high net NPA.
Shilpa Medicare: The US FDA has issued an Establishment Inspection Report (EIR) for the Company's generic pharmaceutical manufacturing facility in Telangana.
Mind Tree: The company's Board approves scheme of amalgamation of Magnet 360, LLC with itself, subject to necessary approvals from NCLT.
Reliance: Reliance signs agreement for the sale of its assets in the Marcellus Shale play of North-Eastern and Central Pennsylvania.
Arrow Greentech: The Company has received Patent Rights from European Patent authorities for their patent titled ‘High Security Paper’.
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