During the previous trading session, Nifty opened the session with an opening downside gap and it took support around its 61.8 per cent retracement levels and thereon, the index recovered and closed the session near the day’s high. The price action formed a long bullish candle. Going forward, the bias continues to remain bullish as long as Nifty hold above 10,340. On the upside, a sustainable move above 10,410 would open gates for further upside up to levels of 10,450 and 10,490.
Stocks to look out for today:
Infosys: Infosys announced a multi-year partnership with the State of Rhode Island to establish an Infosys Design and Innovation Hub. Infosys will also hire 500 American workers in Rhode Island over the next five years.
Reliance Communication: Reliance Communications Limited (RCOM) has entered into a binding Share Purchase Agreement with Pantel Technologies Pvt Limited and Veecon Media & Television Limited for sale of its subsidiary Reliance BIG TV Limited (RBTV), engaged in the business of Direct-to-Home (DTH) services across India.
Future Enterprises: Proposed Initial Public Offering (IPO) of material subsidiary, M/s. Future Supply Chain Solutions Limited.
TVS Electronics: Approval for the Scheme of Amalgamation between Prime Property Holdings and TVS Electronics.
HDIL: HDIL seeks shareholders nod to issue 2 crore warrants to promoter.
Tata Power: Tata Power Solar Systems, a wholly owned subsidiary of Tata Power, set another landmark by commissioning an unprecedented rooftop project in India- a solar carport on the rooftop of the sprawling 70,000 sq.mtr.
Patel Engineering: Completes implementation of S4A scheme.
L&T:L&T Construction Wins Orders Valued Rs.3572 crore.