Negative opening expected as an opening indicator SGX Nifty is trading down by 51 points.
Yesterday, Nifty opened on a positive note but traded in a very thin range between 10572 and 10546 and closed above its crucial psychological support of 10550 making a ‘Doji’ kind of pattern on the daily charts.
The pattern also closely resembles a ‘Harami Cross’ which is two-candlesticks' pattern in which the first candle is a large body candle followed by a ‘Doji’ candle. The pattern suggests that the previous trend may be about to reverse. 10500 will be considered as an immediate good support and 10640 will be a good level of resistance.
🎯 News & Impact 🎯
Major Results Today :
Indiabulls Housing Finance
🎯 TCS :
Q4 Profit up 5.7 % QoQ at Rs.6,904 crore, EBIT margin at 25.4 %.
1:1 bonus.
Positive for the stock. 👍
🎯 Thomas Cook :
Company has purchased 4.4 % in Travel Corporation of India.
🎯 Fortis Healthcare :
Company approves evaluation of binding offers; will have advisory panel to assess rival offers. The company also received a new unsolicited offer from Radiant Life Care to buy the hospital business for Rs. 165 per share.
UBS Principal Capital Asia hikes stake by 0.43 percent in Fortis to 5.21 percent.
🎯 NTPC :
NTPC to exit joint venture with BHEL.
🎯 Info Edge invests Rs.3 crore in marketplace firm Bizcrum Infotech.
🎯 Indian Metals & Ferro Alloys : Company gets Rs.123 crore notices for excessive mining.
🎯 ABG Shipyard :
Liberty House UK moves NCLT to challenge resolution professional's decision.
🎯 Kakatiya Cement :
Company resumes operation at Telangana plant after its closure on pollution grounds.
🎯 JB Chemicals :
Company gets orders from pollution control board directing closure of formulation unit at Daman.
🎯 Religare :
Company raises Rs 145 crore via issue of 11.14 crore warrants at Rs 52.30 each on preferential basis
Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers
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