Index trend and stocks in action October 30, 2017

During the last trading session of the week, Nifty opened the session in positive territory, however, it failed to build upon the gains and lost ground towards the end of the session. At the end of the day, Nifty ended lower by 0.20% at 10,323. After registering a low of around 10,123 index is forming a higher top higher bottom pattern, which is a positive sign as per the Dow Theory. Going forward, in case of a dip, the bullish gap area formed around 10,240 region will act as an immediate support for the index in the coming sessions. Whereas, on the upside, the short-term target on the upside for the index could be 10,400-10,450.  Among oscillator, the 14-period daily RSI is quoting around 67.65. There is an evident of bearish divergence on this oscillator as the Nifty has marked a fresh all-time high while the RSI did not.  
 
Mahindra and Mahindra Finance: The Company has completed the sale of 1,28,866 equity shares of Mahindra Insurance Brokers (MIBL), a subsidiary of the company, to Inclusion Resources Private Limited (IRPL). In lieu of the sale of the aforesaid equity shares by the Company to IRPL, the company has received an aggregate consideration of Rs 65,00,00,000. 

Bajaj Corp: The Company’s Flagship brand “Bajaj Almond Drops” has created the Guinness World Records for the World’s Longest Head Massage Chain. 

Quess Corp: Quess Corp Limited has completed the acquisition of 46% equity in Heptagon Technologies Private Limited. 

Kridhan Infra: To acquire 36.60% stake in Vijay Nirman Company. 

Cadila Healthcare: Zydus receives final approval from the USFDA for Tamoxifen Citrate Tablets USP.