During the last trading session of the week, Nifty opened
with a gap-up on the back of exit polls predicting a clear victory for
the BJP in the assembly elections in Gujarat and Himachal Pradesh. Price action
formed a candle which resembled a high wave candle. Nifty in the last one month
or so has been facing stiff resistance in the zone of 10,400-10,410. Going
ahead, if Nifty manages to sustain above the zone of 10,400-10,410, it is
likely to head towards the all-time high level of 10,490. On the downside, the
gap area which was formed on December 15, 2017 (10,276-10,320) is likely to act
as an immediate support level.
Stocks to look out for today:
Syndicate Bank: The Reserve Bank of India (RBI) has
imposed an aggregate penalty of Rs. 50 million on the Bank in the exercise of
power conferred under section 47(A)(1)(c) read with Section 46(4)(i) of the
Banking Regulation Act, 1949.
JMC Projects: JMC Projects secures new orders worth
Rs. 790 cores.
Ultratech: Company is in the process of seeking
approval of its member, by way of postal ballot for increase in the investment
limits of FII from 30 to 40 per cent.
Dish TV: Receives approval from government for merger
of Videocon D2H with the company.
Eclerx: A meeting of board of directors of the
company will be held on December 22, 2017, inter alia, to consider a proposal
for buyback of equity shares of the company.
Kesoram Industries: Company to raise Rs. 350 crore
via issue of convertible warrants on preferential basis to
promoters.
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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