Index trend and stocks in action November 27, 2017

In the last trading session of the week, Nifty started off the session with a positive bias and witnessed up-move in the first half, however, it turned choppy in the last leg of trade. Day’s action resulted in formation of a small body bull candle, which is signalling breakout of sideways range movement during the past three trading sessions. Going forward, a follow through move above Friday’s high (10,404.50) could lead to further upside up to levels of 10,450 and 10,490. On the flipside, the level of 10,350-10,370 would offer good support to the Nifty. Among oscillator, the 14-period RSI has turned up at present quoting at 61, as per the bullish range theory, it may attempt to move up to the levels of 70-75.  

Quess Corp:  Quess Corp Limited has signed definitive agreements to acquire 51 per cent equity in Trimax Smart Infraprojects Private Limited 

Sun Pharma: Sun Pharmaceutical Industries Inc. Issues Voluntary Nationwide Recall of Riomet (Metformin Hydrochloride Oral Solution) Manufactured by a Contract Manufacturer due to Microbial Contamination. 

Ashok Leyland: Stake in Optare Plc increases to 98.31 per cent from 75.11 per cent  post conversion of loan into equity.

Dredging Corporation of India:  The Non-Executive Employees Union of DCI have given a notice of indefinite strike any day on or after 6th December 2017 against the Government decision to 'Privatize/ Entire Stake Sale of DCI'. The management is holding discussions with the Union to call-off the strike. 

GE Ship: Delisting of Global Depository Receipts of the Company from Euro MTF Market of the Luxembourg Stock Exchange. 

Satin Creditcare: Meeting of Working Committee of the Board of Director of Satin Creditcare Network Limited is scheduled to be held on November 29, 2017 for the issuance of Non-Convertible Debentures up to the amount of Rs. 78 crores through Private Placement.