Index trend and stocks in action April 04, 2018

Karan Dsij
/ Categories: Trending, Markets, News

The benchmark Nifty index opened the session on muted note, despite negative cues from the global markets. Nifty consolidated for major part of the session and, in the last leg of session, it surged higher and ended the session near day’s high. The price action formed a strong bull candle carrying higher high-low with small lower shadow, which indicates strong demand at the lower levels. Nifty has broken out of the consolidation range (10,224.55-9951.90) of the last nine trading session on a closing basis, hence the bias would remain positive going forward. In the coming trading session, the 200-day SMA placed around the level of 10,183 would be a key support level for the index. On the higher side, immediate resistance is placed at the level of 10,278, which is 61.80% retracement level of recent downmove, followed by 10,310.

Infibeam Incorporation: The company has entered into the Advertisement Agreement with TV18 for advertising of Company’s products, services and brands in Media in accordance with the terms and conditions as contained in the agreement. 

Akzo Nobel: The Board of Directors of the Company scheduled to be held on April 06, 2018, inter alia, to consider proposal to buy-back its own shares.

Zensar Technologies: Zensar Wins Multi-Year Contract with City of San Diego. 

Au Small Finance Bank:  Entered into agreement with Future Generali India Life Insurance Company Limited to act as Corporate Agent for Life Insurance Business. 

IDBI Bank: It has approved a proposal for issue of equity capital up to Rs 7881 crore to the government.

Lupin: Lupin's Goa facility completes successful UK MHRA inspection.

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