DSIJ Mindshare

The popular index Bank Nifty opened gap-down on Tuesday and formed sizeable bullish candle around its short-term support zone of 25650-25600, which is the 50 per cent Fibonacci retracement level of its entire upward move starting from the low of early October to the high of December 3,2018.

The stock of biotech company Biocon Limited formed an outside bar resembling a Bullish Engulfing pattern on the weekly time frame, which indicates bulls were in dominant position. After six weeks of contracting consolidation, Biocon has recently given a breakout along with decent volumes.

Supreme Court of India dismissed all the petitions seeking court direction for investigating the alleged scam in the procurement of 36 Rafale jets from the French company Dassault Aviation. Also, DoT agreed to issue NOC for the Rcom-RJio deal.

IT giant Infosys gained on the bourses as the company declared the formation of a JV with Hitachi, Panasonic Corporation and Pasona Inc. Shares of the company gained almost 3 per cent intraday.

The stock of Max India saw a phenomenal uptrend during Friday's trading session. There is a buzz in the market that the company is planning an exit from its insurance business. At 14:26 hours, Max India was quoting Rs. 79.80 per share, up by Rs. 13.00 or 19.46 per cent.