Index trend and stocks in action September 25, 2017

In the last trading session of the week, Index opened gap down and it extended its downfall to end near day’s low and below 10,000 mark. On the daily chart, Nifty has formed a bearish Marubozu candlestick pattern and on the weekly time frame, it has formed a ‘Bearish Engulfing’ candlestick pattern. Now going forward immediate support is seen at levels of 9,940-9,950 as defined by the upward rising trend line formed by connecting major lows from the level of 9,448. Hence, if this support is breached than next support is seen around 9,900 and 9,850 mark. Whereas, on the upside, resistance is seen at 10,000 followed by 10,040. 

Deepak Fertilizer and Petrochemicals: The company's plans to set up a brownfield Iso Propyl Alcohol (IPA) plant, with high purity Diisopropyl Ether (DIPE) as co-product, at Taloja with an ISBL (Inside Battery Limit) investment of approx. Rs. 450 crores.

Quess Corp: Quess Corp Limited, spearheads India’s digital transformation with the launch of its state-of-the-art electronic Paperless Onboarding Platform (POP)".

Oberoi Realty: GlaxoSmithKline Pharmaceuticals Limited ('GSK') has selected Oberoi Realty Limited as the successful bidder for the land admeasuring approximately 60 acres located at Thane, Maharashtra. The company's bid for the purchase of the said land was for a consideration of Rs. 555 Crore.

Usha Martin: Company clarifies that it is considering the sale of its wire and wire rope business with a view to reducing debt. 

Nucleus Software: Nucleus Software to launch a semi-closed PPI wallet service “PaySe”. 

VST Tillers: Company has entered into an agreement with Kukje Machinery Co., Korea to avail the required technology for the manufacture of higher horsepower tractors.