Index trend and stocks in action March 22, 2018
The Nifty 50 index witnessed a gap-up opening and, thereafter, it went on to hit the high of 10,227. However, selling pressure emerged at higher levels and the opening upside gap was completely filled. The price action formed a high wave like candle. Going ahead, the low of Wednesday’s session, i.e. 10,133, would be a crucial level to watch out as a decisive breach below this level would trigger some selling to re-test the 10,040-10,000 levels. On the higher side, Nifty needs to move past the 200-day SMA mark, which stands at 10,166 and if it moves past the 200-day SMA, the next resistance is likely to come in at 10,230.
Sun Pharmaceutical: Sun Pharmaceutical gets nod from USFDA for ILUMYA.
Arvind: Adient and Arvind launch joint venture to manufacture and sell automative fabrics in India
Dilip Buildcon: Dilip Buildcon has been declared L-1 bidder by the National Highways Authority of India for a new EPC project valued at Rs. 677.07 crore in the State of Uttar Pradesh.
Zensar Technologies: Zensar Technologies acquires Cynosure Inc to target leadership in the digitization of Property & Casualty Insurance carriers business.
Oil India: Oil India enters into an agreement with Assam for Methanol, Formaldehyde project.
IRB Infrastructure: The company has emerged as a preferred bidder for the project of six laning of NH 24 (New NH-9) in the State of Uttar Pradesh on DBFOT basis under NHDP Phase V Project.
Majesco: Company announced that a leading Indian health insurer transforms distribution with Majesco Distribution Management.