Index trend and stocks in action July 27, 2018

The NSE benchmark Nifty registered fresh all-time high on intra-day basis; however, it saw some minor profit taking towards the end and ended with a gain of 35 points at 11,167. The price action formed a bull candle. Going ahead, the level of 11,185 would act as an immediate resistance level and a sustainable move above this hurdle could have a further positive impact on the Nifty, in which case, the level of 11,235 could act as the next resistance level. On the flip side, immediate support is seen around levels of 11,100, followed by 11,075, and any pullback to these levels could be used as buying opportunity since the structure remains intact. The 14-period RSI on the daily chart is placed around the 69-mark and has registered its fresh 14-period high. 

Adani Port:  Adani Ports has signed a long-term regasification pact with GAIL for Dhamra LNG terminal. 

Hindalco Industries: The company's wholly-owned subsidiary Novelis Inc has signed an agreement to acquire 100 per cent control in Aleris Corporation.  

Thermax: The company has entered into binding agreements and completed the acquisition process of the shareholding of Babcock & Wilcox India Holdings Inc., in Thermax Babcock & Wilcox Energy Solutions Pvt Ltd (TBWES). TBWES is now a wholly-owned subsidiary of Thermax. 

IFB Industries:  IFB Industries will acquire industrial laundry equipment business of Ramsons Garment for Rs 35 crore. 

Poddar Housing and Development: The company has acquired a land parcel under a joint venture admeasuring about 71,900 sq. mt. at village Miraj, Taluka Miraj, district Sangli through its LLP know as Poddar Anantah Nirvana LLP.  

JSW Steel: The National Company Law Tribunal approved the resolution plan submitted by the consortium of JSW Steel and AION Investments Private II Limited for Monnet Ispat and Energy.