Index trend and stocks in action November 10, 2017

During the previous trading session, Nifty opened with a significant gap-up on the back of positive leads from the Asian markets. However, it faced resistance at higher levels and tumbles thereon to break Wednesday’s low of 10,285 in the afternoon session and it took support around its 21-day EMA. After testing support of 21-day EMA bulls staged a smart recovery and ended with marginal gains. Going forward, immediate resistance for the Nifty is placed in the region of 10,360-10,380 and follow through move above this level may open gates for further upside up to levels of 10,410-10,430. Whereas, on the downside, key supports are seen at levels of 10,260 followed by 10,240.    

RBL Bank: The Bank has completed the acquisition of more than 50% of the paid-up equity share capital in Swadhaar FinServe Private Limited thereby making it a subsidiary of the Bank. 

NTPC: Commissioned 50 MW wind project in Gujarat. With this, the commercial capacity of NTPC would become 43692 MW and that of NTPC Group would become 50908 MW.

Jagran Prakashan: The Board of Directors of the Company has decided to dispose of shares in Non-Operating Wholly Owned Subsidiary Company (Immaterial Subsidiary) having no business, revenue and assets Naidunia Media Limited ('NML') for Rs 5 lakh.