Index trend and stocks in action January 08, 2020
Nifty enjoyed a buoyant start on Tuesday, following positive global cues. At one points, it moved comfortably above the 12,100 mark; however, it faced resistance around 20-DMA and pared its gains during the day. Though the index closed with gains of 0.50 per cent, it was well off day’s high at the end of the session.
The price action of the day formed an inside bar as it was capped within high-low prior bar. The prior bar was a sizable bear candle. On Tuesday, Nifty retook its 50-DMA. Going ahead, we continue to reiterate the swing low of 11,974 is a key the level to keep an eye on. Any breach of this swing low would mean that the index could decline further towards level of 11,840-11,800. On the upside, the zone of 12,150-12,200 is likely to act as a stiff resistance in the short-term. As long as its stays below this resistance zone, any pullback rally is unlikely to sustain at higher levels.
Navin Fluorine International: Post successful mechanical completion and plant trials, Navin Fluorine International's cGMP capacity addition at Dewas Plant, Madhya Pradesh, has commenced commercial production with effect from January 6, 2020.
NBCC: NBCC has secured the business of Rs 1,090.53 crore during the month of December 2019.
NHPC: NHPC raised Rs 500 crore on January 03, 2020, in the second tranche through the private placement of secured, redeemable, taxable, non-cumulative, non-convertible 7.38 per cent NHPC-Y1 Series bonds.
BOSCH: A notice of strike is received from the respective Trade Unions at the company's Plants, situated at Bidadi and Naganathapura in Karnataka and Jaipur in Rajasthan, stating that they are participating in the All India General Strike called by Central Trade Union on January 8, 2020.
Goa Carbon: The total production of calcined petroleum coke was at 186.9 million tonnes in December, exports were nil.
Thomas Cook: Thomas Cook India signs a long-term strategic agreement with experience hub to drive 2020 visitation to Yas Island, Abu Dhabi.
Jaypee Infratech: The company defaulted on Rs 6,721 crore as payment of interest and repayment of principal amount on loans.