Index trend and stocks in action November 09, 2017
DSIJ Intelligence-3 / 09 Nov 2017
Going forward, the zone of 10,240-10,260 is an immediate support level as the 21-day EMA is placed around this region, a follow through close below level of 10,240 will signal an extended round of profit booking up to levels of 10,200-10,120.
During the previous trading session, Nifty opened the session with a positive bias, however, selling pressure emerged at the higher levels and it slipped below its important psychology mark of 10,300 in the intraday trade, but a minor pullback in the last leg helped Nifty to recoup some of the losses and close at 10,303. After forming a sizable bear candle on Tuesday, a reasonable long bear candle had been formed on Wednesday, which managed to breach previous week’s low of 10,323.95 and this confirms a follow through weakness after a top reversal pattern. Going forward, the zone of 10,240-10,260 is an immediate support level as the 21-day EMA is placed around this region, a follow through close below level of 10,240 will signal an extended round of profit booking up to levels of 10,200-10,120. On the other hand, the level zone of 10,380-10,400 is likely to act as a strong barrier for the Nifty on the upside.
Cupid: Cupid received supply contract worth Rs. 24.13 crore from Central Medical Services Society, Government of India.
Info edge: Company has invested through its wholly-owned subsidiary about Rs.5.66 crore in Nopaperforms Solutions Pvt. Ltd.
BIL Energy Systems: The meeting of the Board of Directors of the Company will be held on November 14 to consider and approve the declaration of Bonus Equity Share issue of the company and to consider and approve un-audited financial results for the quarter ended on September 30, 2017.
HCL Infosystems: The company has received an order dated October 30 2017 from the Office of the Principal Commissioner, Central Goods & Services Tax Commissonerate, Noida raising demand of Rs. 312.34 crore under Rule 14 of the CENVAT Credit Rules read with the Provision to Section 73(1) of the Finance Act, 1994.
Bharti Airtel: Airtel introduces new postpaid and prepaid plans.
Pricol: Company entered into joint venture agreement with Zorg Industries (Hong Kong) Limited to manufacture and supply of Parking Assistance Systems for the Indian market.
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