Index Trends And Stocks In Action November 27, 2014
The Indian markets swung between gains and losses and ended with marginal gains ahead of the expiry which is due on Thursday. The broader market out-performed the benchmark indices. Market breath was fairly positive. On daily chart nifty has formed an “Inside day candle” an inside day is when a security trades within the high and low range of the previous day candlestick. This candlestick is sign to trader that the index is taking breather from the primary trend or is the early stages of a counter trend move. Now going forward if nifty sustains above 8490 level then could expect continuation of primary trend up to levels of 8535. On downside important support is 8420, if this level is breached market is expected to tank down to levels of 8375.
Shares of Roto Pumps (BSE Code: 517500) will remain in focus on today due to stock split. It subdivides each share of face value Rs 10 to five shares of face value Rs 2 each. The stock, which closed at Rs 540 on the BSE on Wednesday, will start trading in the range of Rs 105-15. Those buying the shares from Thursday will not be eligible to receive the stock-split shares. The stock may remain in focus in today’s trade.
Orchid Healthcare Pvt Ltd, a promoter group firm of Orchid Chemicals and Pharmaceuticals (BSE Code: 524372), would pick up stakes to infuse Rs 92.17 crore into the company through preferential allotment of shares, as part of promoter's contribution under the Corporate Debt Restructuring (CDR) package. The stock may remain in focus in today’s trade.
8K Miles (BSE Code: 512161) acquires SERJ Solutions to enhance Healthcare Cloud Offering 8K Miles Software Services, a leading global secure cloud solutions company through its US subsidiary, today announced the acquisition of SERJ Solutions, a provider of innovative Epic EHR consulting, custom application development, and support solutions for the Healthcare market. This move solidifies 8K Miles’ goal to offer a unique and differentiated cloud-managed solution to the Healthcare sector. The stock may remain in focus in today’s trade.