Index trend and stocks in action January 17, 2019

The NSE benchmark Nifty opened on a positive note but pared its early gains. Thereafter, it traded in a narrow range to close almost flat. The price action formed a small body bear candle carrying higher high-low, indicating breather after a big bullish day. Going ahead, the index needs to clear the crucial resistance zone of 10,900-10,950, as sustaining above this zone could open up for further upside towards the level of 11,000, followed by 11,090. Unless and until Nifty witnesses breakout of this resistance zone, we will see index consolidating in a capped range and the level of 10,840 is likely to act as an immediate support level.  

Fortis Healthcare: The company has completed the acquisition of the entire portfolio of Indian assets of RHT Health Trust. 
  
Jet Airways: The company  has clarified that the resolution plan is presently under active discussion amongst the stakeholders and the various options therein, being privileged and confidential, are yet to be crystallised and agreed to by the stakeholders in the best interests of the company. The company will, at the appropriate time, make necessary disclosures and statements in order to ensure transparency and avoid speculations and rumours in respect of the subject matter. 
  
IIFL Holdings: India Infoline Finance Limited ('IIFL'), a material NBFC subsidiary of the company has filed shelf prospectus and tranche I prospectus on January 11, 2019, for the proposed public issue of non-convertible debentures with the Registrar of Companies, Maharashtra, Mumbai, which is duly taken on record by ROC. 
  
RITES: The company has received a rating of IVR A1+ (IVR A One Plus) on short term non-fund bank facilities up to an amount of Rs. 850 crore from Infomerics Valuation and Rating Pvt. Ltd.