Index trend and stocks in action August 13, 2018

The small body negative candle in the form of a Doji on Thursday was confirmed on the next day, i.e. Friday’s session when the NSE benchmark index Nifty continued with the pessimism. Nifty opened on a positive note, but went into correction mode due to profit-booking and closed marginally lower at 11430, shedding 41 points. Out of exhaustion, Nifty may continue to consolidate at higher levels for the time being. In the near term, we may see some more downbeat, where we hold 11380-11360 as the immediate supports. However, if the last weekend has acted as a breather, then we may see a bounce, where we hold 11480-11500 followed by 11530 as the resistances. 


Ashok Leyland: Auto major Ashok Leyland’s subsidiary Optare has bagged order for buses from Transport for London. Optare would supply 31 Optare Metrodecker EV double decker buses to be bought by Metroline and added in London’s fleet. 

NBCC: NBCC has won order worth Rs 150 crore on Friday after market hours to construct Central Board of Secondary Education (CBSE) integrated building at Dwarka, New Delhi.  

Cipla: Drug maker Cipla has secured final approval from USFDA for its abbreviated new drug application (ANDA) for Atazanavir capsules of 100, 150, 200 and 300 mg. It is a protease inhibitor designated for use in combination with other anti-retroviral agents to treat HIV-1 infection in 6 years plus patients with weight above 15 kg. 

Hinduja Global Solutions: The company’s UK subsidiary has won a new contract from the Crown Commercial Government Contract Centre Framework for the money advice service. The contract is for two years.  

Universal Cables: Power cable major  Universal Cables has entered into an agreement with NKT, Germany for 400 kV extra high voltage XLPE underground cable.