Index trend and stocks in action January 03, 2018

During the previous trading session, Nifty opened with a gap-up but the entire gain got sold in the initial minutes of trading. The selling was so fierce that the index breached its previous day’s low as well. However, Nifty rebounded from lower levels to end almost flat. The day’s price action resulted in a follow through to previous session bear candle, resulting in the formation of lower high, lower low. Going ahead, the immediate support for the index is placed around the level of 10,400 and a sustainable move below this level will open up for further correction up to levels of 10,380 and 10,350. On the upside, the levels of 10,490 followed by 10,535 may act as a resistance levels for the Nifty.

Tiger Logistics: Company has signed an exclusive agreement with the US based Compass Forwarding Co. Inc. (Compass) and its subsidiary Falcon Maritime & Aviation Co. Inc. (Falcon) Both these companies have decades of experience in the International Logistics sector. As per the agreement, Tiger Logistics India Ltd along with Compass and Falcon agrees to service the markets of the US, Saudi Arabia and India on exclusive basis. The agreement also provides for mutual support to each other on non-exclusive basis for Brazil-India tradeline. 

Dixon Technologies:  AIL Dixon Technologies Private Limited , a joint venture company of Dixon Technologies (India) Limited has commenced manufacturing of CCTVs and DVRs under the Trademark CP Plus from its manufacturing facility situated at Tirupati. 

V-Mart Retail: Company has opened a new fashion store in Jharkhand. With this, the tally of store in Jharkhand is 14 fashion stores. 

Reliance Industries:  RIL commissions the world's largest refinery off-gas cracker at Jamnagar. 

Orient Green Power: Sold 8 biomass subsidiaries to Janati Bio Power for Rs. 49 crore.  

Apar Industries: Company enters in a 40:60 joint venture with PPS Motors. 

Titan: Titan has taken calibrated steps for entry into the ‘Special Occasion Ethnic Wear’ business. The business is in a pilot phase and has two stores in Bangalore and the company may open a few more stories in other metro cities to assess the market potential.