Index trend and stocks in action December 28, 2017

After starting the previous session on a flattish note, Nifty advanced to touch a new all-time high level. However, a strong bout of profit-booking in the last hour of trading dragged Nifty lower and the index settled below the 10,500-mark. The price action resulted in formation of a bear candle which resembles bearish engulfing candle pattern. In today’s trading session, we are likely to witness a roller-coaster ride on the eve of F&O expiry of December series. As far as support is concerned for the Nifty, immediate support is seen around the level of 10,450, and a sustainable move below this support level may drag the index lower up to the level of 10,410. On the upside, the zone of 10,540-10,550 is likely to act as a strong barrier.  

Kolte-Patil Developers: Kolte-Patil Developers' Pune township Life Republic enters Rs. 193 crore agreement with KKR . 

Axis Bank: Axis Bank to conduct internal inquiry on leakage of results on Whatsapp. 

Riddhi Siddhi Gluco Biols: Board approved proposal to de-list shares of the company. Promoters set the offer floor price at Rs. 510 per share. 

Star Cement: Star Cement Limited alongwith its subsidiary Star Cement Meghalaya Limited has received Rs.158.82 crores towards Capital Investment Subsidy claims from the Central Government and this amount has been utilized towards repayment of loans. 

Quess Corp: Quess Corp acquired 60 per cent equity in Golden Star Facilities and Services Private Limited (GSFS) and 100 per cent equity in Master Staffing Solutions Private Limited. 

Maruti Suzuki India: Maruti Suzuki India entered into an agreement with the Government of NCT of Delhi to set up state-of-the-art Automated Driving Test Centres across 12 locations in the city.