Index trend and stocks in action August 14, 2019

The Nifty came under selling pressure in early trade and selling pressure intensified in the second half of the session with Nifty ending the day near its day’s low. Eventually, Nifty dropped 1.69 per cent to end below 11,100 mark despite the best day in a decade performance by Reliance Industries which carries about 9 per cent weightage in Nifty50. The price action formed a sizable bearish candle, which also resembles a bearish engulfing pattern where a red candle’s real body completely contains the previous green candle’s real body. Going ahead, Nifty needs to sustain above its crucial 10,800 mark to keep the pullback option open. On the upside, the level of 10,980-11,040 is likely to act as immediate resistance.

Infosys: Infosys to Deliver Cloud-Based Global Telematics Solutions for Toyota Material Handling North America.

TCS: Company announced that ignio, its award-wining AI/machine learning-based cognitive automation software, has doubled its revenue as well as the number of customers, YoY, as it completes four years since launch. 

Anuh Pharma: The company would inaugurate its new plant no. E-18 on Friday, August 23, 2019 located at Tarapur, Boisar.

Concor: Concor and Indian Railways have joined hands to commence Container Train operations from Suranussi, located near Jalandhar in Firozpur Division of Northern Railway.