Index trend and stocks in action August 20, 2019

The Nifty opened the session on a positive note and remained buoyant for the major part of the trading session. It made a high of 11,147; however, in the last leg of trade the index pared all its gains and ended the session on a flat note. The price action formed a small body bear candle with an upper shadow. We have been advising our readers in the recent times that as long as Nifty trades between 11182-10935, traders may not get clear trading opportunities and we continue to reiterate this. On the upside, Nifty needs to move above the 200-DMA as well as August 9 high of 11182 decisively for a bullish momentum. While, on the downside, in case Nifty breaks the August 14 low of 10935 and closed below this level, it would mean a flag breakdown.


Hero Motocorp: Company has denied any participation and/ or any investment made in Blu Smart Mobility.


HFCL: The company has received a Purchase Order worth Rs. 2,467 crores from Bharat Sanchar Nigam Limited, New Delhi.


Nestle: Nestle announced the launch of the world's no. 1 cocoa-malt beverage - MILO in India.


KEC International: Company has secured its first orders of Rs. 845 crore in the emerging Regional Rapid Transit System (RRTS) and Metro sectors in India.


MRPL: The refinery has been affected by a minor landslide as an aftermath of the intensified monsoon in Dakshina Kannada District, hence as a precautionary measure, company has structured shutdown of the Phase-III process units of the refinery to check the condition of the facilities in the vicinity and for immediate stabilisation. The Phase-I and Phase-II of the complex as well as the product dispatch facilities remain unaffected and are operating normally.