Index trend and stocks in action December 18, 2017
DSIJ Intelligence-3 / 18 Dec 2017
Nifty in the last one month or so has been facing stiff resistance in the zone of 10,400-10,410. Going ahead, if Nifty manages to sustain above the zone of 10,400-10,410, it is likely to head towards the all-time high level of 10,490.
During the last trading session of the week, Nifty opened with a gap-up on the back of exit polls predicting a clear victory for the BJP in the assembly elections in Gujarat and Himachal Pradesh. Price action formed a candle which resembled a high wave candle. Nifty in the last one month or so has been facing stiff resistance in the zone of 10,400-10,410. Going ahead, if Nifty manages to sustain above the zone of 10,400-10,410, it is likely to head towards the all-time high level of 10,490. On the downside, the gap area which was formed on December 15, 2017 (10,276-10,320) is likely to act as an immediate support level.
Syndicate Bank: The Reserve Bank of India (RBI) has imposed an aggregate penalty of Rs. 50 million on the Bank in the exercise of power conferred under section 47(A)(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.
JMC Projects: JMC Projects secures new orders worth Rs. 790 cores.
Ultratech: Company is in the process of seeking approval of its member, by way of postal ballot for increase in the investment limits of FII from 30 to 40 per cent.
Dish TV: Receives approval from government for merger of Videocon D2H with the company.
Eclerx: A meeting of board of directors of the company will be held on December 22, 2017, inter alia, to consider a proposal for buyback of equity shares of the company.
Kesoram Industries: Company to raise Rs. 350 crore via issue of convertible warrants on preferential basis to promoters.
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