Index trend and stocks in action April 22, 2019
The volatility increased at lifetime highs even as Nifty ended on a flat note. Reliance and auto stock rescued the market from closing below Tuesday’s low. The price action of the day formed a sizeable bearish candle and we observe formation of a dark cloud cover-like candlestick pattern. Interestingly, the open and high prices are the same for the day. For the coming week, the bulls need to protect Tuesday’s session gap area of 11,705-11,732. On the higher side, the level of 11,800 is likely to act as a point of control and above this level, the bulls are likely to continue the rally. However, if it does not move above the 11,800 level, we expect some consolidation and some back and forth movement. The RSI continues to show divergence. The Nifty made three higher peaks, and at the same time, the RSI made three corresponding lower peaks.
Avantel: The company has bagged an order for an amount of $ 1,161 ,710 (USD) from The Boeing Company.
Shilpa Medicare: The company has received US Food and Drug Administration approval for its ANDA, Busulfan injection, 60 mg/10 ml.
Gravita India: Gravita Tanzania Ltd has commenced commercial production of lead from its plant situated at Tanzania, East Africa.
The Shipping Corporation of India: M.T. 'Maharaja Agrasen' while discharging cargo (crude oil) at Jawahar Dweep #4 suffered a flash fire incident on April 13, 2019. The fire was contained and extinguished immediately by the ship's staff.
Trigyn Technologies: The United Nations has extended contract of Trigyn Technologies Inc for another 6 months.
Asian Granito: The company has ventured into sanitaryware with an aim to provide 'complete bathroom solutions' under one roof.