Index trend and stocks in action July 30, 2018

It was a splendid trading session for the NSE benchmark Nifty as it registered a gain of about one per cent and ended above the 11,250-mark for the first time ever. The price action formed a long body bull candle with an opening upside gap. Going ahead, the opening upside gap of 11,186-11,210 shall act as a key support zone for the index. On the upside, the level of 11,300-11,345 is seen as immediate resistance zone for the Nifty. There is a chance we could see some consolidation in the index after the strong upmove and this consolidation should be used to initiate long positions as index is in a strong uptrend. As long as Nifty stays above the level of 11,170, each dip should be used to create long positions. 

Thyrocare Technologies: The meeting of the board of directors of the company will be held on August 4, 2018 to consider a proposal to buy back equity shares. 

Karda Constructions: The company has  received work order for drilling and blasting works relating to land development at Navi Mumbai International Airport . 

Jubilant Life Sciences: Any fund raising which may be undertaken by the company's subsidiary Jubilant Pharma Limited (JPL) will be by way of an IPO and that the maximum dilution of the company's shareholding in JPL in the IPO (including any sale of shares of JPL by the company) will be up to 20 per cent of the fully diluted issued and paid-up equity share capital of JPL. 

Pioneer Distilleries: Pioneer Distilleries has received order from Maharashtra Pollution Control Board to stop all manufacturing activity at one of its units. 

Godrej Consumer Products: The company will consider a proposal for issue of bonus shares in the board meeting scheduled today. 

IDFC Bank: A meeting of the equity shareholders is scheduled on September 3, 2018 to consider the composite scheme of amalgamation of Capital First and Capital First Home Finance and Capital First Securities with the bank.