Index trend and stocks in action March 15, 2018

Nifty opened the session with a gap down below the 10,400 mark and dipped lower in the first half of the session. However, good amount of buying interest at lower levels helped indices to claw back above the 10,400-mark. The price action formed a small body bull candle with a significant lower shadow indicating buying interest at lower levels. Going ahead, Nifty is likely to see support around the level of 10,360, followed by 10,300. On the upside, the level of 10,450 is a crucial resistance zone as it is 61.8% retracement of recent fall from 10,632 to 10,142. Therefore, a decisive close above 10,450 would open up for upmove up to the level of 10,630-10,650.  

Havells: Company has signed an Agreement with Hyundai Electric For Manufacturing Magnetic Contactors.

Asian Granito: Asian Granito is in process to enter in JV with local partner to establish 10,000 meters per day glaze vitrified tile manufacturing unit in Andhra Pradesh. 

Wipro: company has signed a definitive agreement to divest Wipro’s hosted data center services business to Ensono, a leading hybrid IT services provider for USD 405 million

Bharti Airtel: Company has approved allotment of debentures to raise Rs 3000 crores. The proceeds of the Issue will be used for general corporate purpose including routine treasury activities of refinancing of existing debt and spectrum liabilities etc.

Majesco: Majesco to provide digital platform to Kookmin Best Insurance Co.

TVS Motor: Company launches the new 2018 TVS Apache RTR 160 4V. 

Himadri Speciality Chemical: Himadri Speciality Chemical to Invest Rs 1000 Crore In Carbon Black Business In West Bengal. 

Welspun Enterprises: Welspun Enterprises says NHAI to undertake re-bidding for Tamil Nadu highway project.