Index trend and stocks in action January 16, 2019

The NSE benchmark Nifty opened the session with a gap-up, and in the second half, it extended its gains to end with robust gains of 1.39 per cent at 10,887. The price action formed a sizeable bullish candle. After taking support near about 50-day moving average, the index managed to move past the 200-day and 100-day moving averages. However, the index needs to clear the crucial resistance zone of 10,900-10,950, as sustaining above this zone could open up for further upside towards the level of 11,000, followed by 11,090. On the downside, the 100-day moving average, which is currently placed at 10,844, is likely to act as an immediate support level.  

Sasken Technologies: Sasken has launched Automotive Center of Excellence in Detroit, USA. 
  
Nahar Industrial Enterprises: The  board has approved fund raising by issue of 5.5% non-convertible non-cumulative redeemable preference shares. 
  
Century Plyboards: The company has incorporated a wholly-owned subsidiary by the name Century Gabon SUARL in Gabon, South Africa on January 10, 2019. This subsidiary has been incorporated with the object of manufacturing and trading in timber, veneer, plywood and other wood-based products. 
  
Indiabulls Integrated Services: The company's subsidiary Indiabulls Life Insurance Company has received regulatory R1 acceptance from Insurance Regulatory and Development Authority of India (IRDAI) for its proposed life insurance business.