Index trend and stocks in action August 07, 2018

After opening the session on an optimistic note, Nifty lost some of its sheen mid-way and traded in a range-bound manner in the second half of the trading session to finally end the session marginally higher. The price action formed a small body negative candle, which is indicating breather at higher levels. Going ahead, the zone of 11,400-11,430 is likely to act as a resistance for the Nifty. On the downside, the levels of 11,300, followed by 11,230, are likely to act as strong supports for the index. The RSI on the daily chart has witnessed a negative divergence, i.e. Nifty continued to mark a new 14-period high, while the RSI has not done so. 

Unichem Laboratories: The company's API manufacturing facility at Roha, Maharashtra, was inspected by the US FDA. Four observations were made which do not impact continuity of the company's business and its manufacturing activity. The company proposes to respond to these observations within 15 business days. 
  
Sun Pharmaceutical: Sun Pharma has launched novel drug Kapspargo Sprinkle in USA. 
  
Kridhan Infra: The company has announced that its associate company Vijay Nirman Company Pvt Ltd has been awarded a new project worth Rs. 132.6 crore. 
  
Izmo: The company has won a major multi-crore contract for its Part Velocity Web Platform and Android App from a leading European automotive OEM.  
  
Rolta: The company has said that due to unforeseen circumstances the group will be unable to perform its obligations under the restructuring pact.