On Friday, Siyaram Silk's shares were trading marginally higher in morning deals at Rs 538.90 on NSE. So far this year, the scrip has seen a flattish growth at the bourses. However, in the last one year, the stock has risen nearly 19%.

The longer the horizontal base, the better. A long base will establish a more significant support level, and the ownership of the stock will transfer from weak hands to strong hands.

The counter is witnessing a breakout from a long consolidation and a triangle pattern formation on the daily timeframe. The overall structure is remunerative as it trades above its all-important moving averages.

Stocks that were in focus included names like Samvardhana Motherson, which fell more than 4 per cent to hit a fresh 52-week low, Tejas Networks, which rose over 4 per cent and IOC, which also cracked over 1 per cent to hit a fresh 52-week low.

PSP Projects is taking trend-line support on the daily chart and has a strong bullish setup. It has retested its previous breakout Rs 586 level after hitting a fresh all-time high.

On immediate basis, 18,000 is the psychological hurdle for the Nifty, while the previous swing low of 17,161 will act as a strong support

Ujjivan Financial Services jumped more than 6 percent to close at more than one year high of Rs 196 and formed a robust bullish candlestick pattern with large volumes, while Tejas Networks was up more than 6 percent to Rs 525 and formed a strong bullish candlestick pattern on daily charts with robust volumes.

“Tejas Networks has acquired the remaining balance of 93,571 equity shares of Saankhya Labs at Rs 454.19 per share, amounting to a consideration of Rs 4.25 crore through secondary purchase,” the Tata group telecom gear maker said in an exchange filing Friday.

In a stock exchange filing, the Tata group telecom equipment maker said that it has bought "60,81,946 equity shares through secondary purchase at a price of Rs. 454.19/- per equity share amounting to 62.65% of the equity share capital of Saankhya, on a fully diluted basis for a consideration of Rs. 276.24 crore.”

INDIA-RENESAS-TATA-Japan's Renesas, India's Tata Motors partner to develop chip solutions

He was addressing the 27th annual general meeting of Tata Consultancy Services (TCS) virtually.

Hindustan Zinc, Sundaram Fasteners, MMTC, Tejas Networks, Tata Metaliks, Khaitan Chemicals, Wendt, Aditya Birla Money and Quest Capital are the companies that will announce their March quarter results today.

The auction of the 5G spectrum in the new fiscal put the telecom services providers, related players and the optical fibre stocks at the sweet spot. Vodafone Idea gained 5 per cent, whereas Reliance Industries and Bharti Airtel were up by a per cent each. MNTL and RCOM were also trading in the green.

State-run telecom firm BSNL has asked IT major Tata Consultancy Services to provide equipment as per its 4G tender norms and complete their testing within the extended deadline of December 31.

Havells, Jubilant Foodworks, Tata Communications, Syngene International, L&T Holding Finance, Angel Broking, Just Dial and Tejas Networks are among the companies that will announce their September quarter results today.