Sunday, March 4, 2018

Nifty opened the session with modest losses and, thereafter

During the last trading session of the week, Nifty opened the session with modest losses and, thereafter, it traded in a range. But selling pressure emerged in the last hour of trade and Nifty settled near day’s low. The price action formed a small body negative candle, with long upper wick. We may see Nifty testing its major support zone of 10,270-10,300 in the coming trading sessions. On the upside, immediate resistance for the Nifty is placed around the levels of 10,535 and a decisive move above this resistance could lead to further upmove up to the levels of 10,600-10,640.

Stocks to look out for today:

Jubilant Lifesciences: The Commissioner of State Excise, Maharashtra has passed an order cancelling company’s DS-1 License and Form-I License relating to the Distillery operations at one of company’s factories located at Maharashtra and to take necessary criminal action.

PNB: Internal auditor of PNB Mumbai Branch has been arrested, said the bank.

NMDC: NMDC's Steel Plant takes first step towards Commissioning, Secures Power Linkage .

Wipro: Wipro to acquire minority stake in Denim Group, a leading independent application security firm.

Poly Medicure: Commercial production of new plant situated at Faridabad (Haryana) has commenced.

HCL Infosystems: On account of material breach of the terms of Business Transfer Agreement (BTA) by Everest, the company and HCL Learning Limited have decided to terminate the BTA.

Fortis Healthcare: Company g ets notice from Serious Fraud Investigation Office seeking information and documents.

Laurus Labs: Company has informed that the USFDA has completed inspection of its Unit 2 with zero observations under Form 483. Laurus Labs has also received its maiden approval from USFDA for Tenofovir Disoproxil Fumarate Tablets 300mg. 

JBM Auto: Board approved scheme of amalgamation of JBM Auto Systems and JBM MA Automotive with self.

Dilip Buildcon: Dilip Buildcon has received Letter of Awards by the National Highways Authority of India for two new Hybrid Annuity Projects valued at Rs. 4,473 crore in the State of Karnataka.

Allahabad Bank : Allahabad Bank clarifies that the bank had informed the exchanges about exposure worth US$ 366.87mn to PNB fraud .

Reliance Infrastructure: Reliance Infra's board to meet on March 7 to raise funds through QIP

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