Index trend and stocks in action January 10, 2020

The bulls scored almost a double century on Nifty as the index could close above the 12,200 mark with gains of 1.58 per cent. The day started on a buoyant note and the index even managed to build upon the early gains. The price action of the day formed a sizable bullish candle with a gap up opening.

The last four trading session were no less than a roller coaster ride for the index, as it saw a violent moves on up and downside, which was mainly due to the tension in the Middle East. However, after the statement from the US President, who opted not to respond to the Iranian attack on the US troops, the issue seems to be cooling down.

During the recent up-move, Nifty has filled up the gap of 12,179-12,191, which was formed on January 06. The MACD line is still below the signal line and the RSI is within the downward channel. The ADX is further weakened and +DI and -DI are at a confluence. If, in any case, Nifty sustains above the prior high for at least two days, only then the fear of downfall will be erased. On the downside, the level of 12,150 is likely to act as an immediate support level.

Delta Corp: The company’s subsidiary in Nepal has been issued a license for operating a Casino in the country. The operations of the casino at the Marriot Hotel in Kathmandu are expected to commence soon.

TCS: Vipps extends partnership with TCS to accelerate business growth.

Sterlite Technologies: The subsidiary of company has entered into definitive agreements to acquire 12.8 per cent stake in ASOCS, a vRAN technology company based out of Israel.

Info Edge: Zomato has signed a definitive agreement to undertake a primary fund raise of up to US$150 million from Antfin Singapore Holding Pte. Ltd. Upon closing, as a consequence of this fund raise, the company’s shareholding in Zomato shall stand reduced to about 25.13 per cent on fully converted and diluted basis.