INDIAN EQUITY MARKET OUTLOOK - 15 Feb 2018
Nifty opened the session with gains but the early morning strength petered out as selling pressure was seen in the last leg of trade and Nifty settled with loss of 0.37%. The price action formed a long bear candle. Going ahead, a sustainable move below 10,440 would reinforce selling pressure in the index. In this scenario, we may see extension of this correction up to the level of 10,400. The level of 10,400 is a significant support level as the 100-day EMA and rising trendline support are placed around this level. On the upper side, the level of 10,600-10,640 would be seen as a major hurdle for the Nifty.
Stocks to look out for today:
Zee Learn: Zee Learn invests Rs. 200 crores in MT Educare through a preferential allotment of equity shares for a stake of 44.53 per cent in the expanded share capital of MT Educare.
Sunteck Realty: Board approves merger of three subsidiaries with itself.
Indiabulls Real Estate: To finalise option for selling its residential and commercial property in Chennai, being a non-core market for the company’s real estate business operations.
Torrent Power: The company has entered into a contract with Siemens Gamesa Renewable Power Private Limited for setting up of Wind Power Projects upto aggregate capacity of 120 MW.
Indo Count Industries: T he Board has inter-alia approved to incorporate a wholly-owned subsidiary in Germany towards promotion of textile business in Europe.
Yes Bank: The bank announced the listing of its debut USD 600 mn MTN bond on India INX.
PVR: The company announced the opening of its 8 screens multiplex at Next Galleria, Panjagutta in Hyderabad. The multiplex is equipped with 4K projection system, next-generation 3D-enabled screens and 7.1 Digital Dolby surround sound.
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