DSIJ Mindshare

Index trend and stocks in action November 22, 2017

During the previous trading session, Nifty opened the session with an upside gap and extended its morning gains as it registered a high of 10,358.70, however, in the second half of the trading session selling pressures emerged which dragged the index lower from the day’s high. At the end of the trading session, Nifty closed with modest gains of 0.27 per cent. The price action resulted in the formation of doji type candle. Going forward, we believe the index is likely to face strong resistance in the zone of 10,340-10,370. A follow through move above the range of 10,340-10,370 would result in an up-move up to levels of 10,450-10,490. On the flipside, we expect Friday’s gap (10,232) to act as a strong support for the index.  
  
Virinchi: Vrinchi Hospital has entered into a strategic collaboration with MedGenome, a genomics-based Diagnostics and Research company towards offering a range of diagnostic tests to its patients specifically in the field of cardiology, ophthalmology, oncology, neurology, nephrology, diabetes, dermatology, haematology, connective tissue and metabolic disorders. 

PVR: PVR denies allegations made by Elan. 

Lakshmi Vilas Bank: A meeting of the Capital Raising Committee of the Board is scheduled to be held on November 24 to consider Rights issue size, fix the price, ratio, open date, close date and fix the record date. 

NCC: The Consortium formed between NCC and BGR Infra has been awarded the project relating to Mine Development and Operation of Talaipalli Coal Block. 

Bank of Baroda: Bank of Baroda plans to raise Rs. 6,000 crore by way of rights issue or QIP. 

Dredging Corporation of India: Employees at head office, Visakhapatnam go on strike to protest the strategic sale of Government Equity.     

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