Index trend and stocks in action November 26, 2018

Despite witnessing a positive start, the NSE benchmark Nifty could not build on the early gains and extended its southward journey for the third consecutive day. Nifty settled with a loss of 0.69 per cent at 10,527. The price action formed a sizeable bear candle carrying a lower high-low. Going ahead, the zone of 10,440-10,480 is a crucial support zone, as multiple supports are positioned in this region. To begin with, the 20-D SMA is placed at 10,482, followed by the 38.2 per cent retracement level of the recent upmove from the October low and the recent swing low of 10,440 seen on November 13, 2018. On the upside, the level of 10,650 is likely to prove as a stiff resistance, followed by the 200-D SMA which is placed around 10,745.  

Strides Pharma Science: The company has announced that the board of directors of the company has approved the participation of Strides in the Series B fundraiser of Stelis Biopharma Private Limited (Stelis) with a commitment of US$ 15 million in a US$100 million fund raise. 
  
Infosys: RCB Bank and EdgeVerve Systems, a product subsidiary of Infosys, announced the bank’s successful implementation of the ProximityPayEdge Digital Payments solution, to provide RCB’s customers with a digital wallet for secure contactless payments. 
  
Oriental Bank of Commerce: The bank intends to divest its stake in its joint venture, i.e. Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited at an appropriate time, depending on the market conditions and the available options. 
  
BEML: BEML has been awarded the letter of acceptance from DMRC for supply of 378 metro coaches (63 metro trains) to Mumbai Metro Line - 2 and 7 project. The contract is worth about Rs.3015 crore and the scope of work include design, manufacture, supply, testing & commissioning of 378 metro coaches, supply of spares and training of personnel. As per the contractual timelines, the train deliveries are scheduled to commence from July 2020 till September 2022. 
  
Mahindra and Mahindra: The company has launched the Alturas G4, a luxury SUV in the high-end SUV segment . 
  
Reliance Industries: Reliance Industrial Investments and Holdings Limited (RIIHL), a wholly-owned subsidiary of the company, has incorporated a company namely 'Jio Estonia OÜ' in Estonia. Jio Estonia OÜ proposes to engage in the activity of software development and providing consultancy for existing and future technology initiatives pursued by the company and its subsidiaries. 
  
Virinchi: Virinchi Hospitals has commissioned the first 'Out-reach Clinic' as a step towards pursuing its 'hub & spoke' model .