Index trend and stocks in action August 21, 2018

The NSE benchmark Nifty opened with a gap-up above the swing high of 11,495 and traded with positive bias throughout the day. Nifty ended the day above its crucial level of 11,550 for the first time ever. The price action formed a significant bull candle with an upside gap. On Tuesday, we expect the momentum to continue on the upside. However, some consolidation cannot be ruled out as the index remains overstretched and overbought on the higher time frame charts. In the coming session, the opening upside gap of 11,486-11,500 which was created on August 20, 2018, is likely to act as an immediate support. On the way up, the level of 11,600 is likely to act as a barrier. On the RSI, we observed a negative divergence on the daily chart as the Nifty marked a fresh 14-period high, while the 14-period RSI did not. 

FDC: The US FDA inspection was carried out in relation to the ophthalmic products being exported to the US market. The US FDA has made 8 observations (483's) for which the company will submit appropriate  response . 
  
HCL Technologies: The company has fixed August 31 as the record date for buyback.  
  
CG Power and Industrial Solutions: Inauguration of the first high-voltage and extra high voltage air insulated switchgear factory at Indonesia owned by PT Crompton Prima Switchgear Indonesia. 
  
ICICI Lombard General Insurance: The company has pioneered the use of AI to automate health insurance claim approvals. 
  
Goa Carbon: Goa Carbon has said that the ban on import of pet coke will impact production. 
  
Apollo Tyres: The company has informed that the production operations of the company's plants located at Perambra and Kalamassery, Kerala, have been disrupted due to floods in Kerala. The production loss due to this natural calamity is 1,500 MT (approximately) till today. However, the consequential loss of profit would not be significant. 
  
NR Agarwal Industries: The  operations of the company's Unit-I in Vapi, Gujarat, will be temporarily shut down for a period of 15 days with effect from August 27 for the purpose of annual maintenance and technological upgradation. 
    
Reliance Infra: Anil Ambani has expressed deep anguish over continued personal attacks by Rahul Gandhi on him and has termed all allegations as baseless, ill-informed and unfortunate.