Index trend and stocks in action November 29, 2018

The NSE benchmark Nifty began the session on a positive note and attempted to build upon the early gains. However, after testing its 200-day moving average, it resisted around its 200-day moving average and ended the day just a nick below its 200-day moving average. The price action formed a small body positive candle with an upper shadow. Going ahead, Nifty has strong resistance placed in the region of 10,740-10,780 as this area is the confluence of its 200-day moving average, swing high registered on November 19 and the downside gap which was created on  October 4.  Breaching and sustaining above this crucial resistance zone shall allow the index to extend its upmove towards the levels of 10,840 and 10,980 in the short term. On the downside, the level of 10,630, followed by 10,480, are likely to act as support levels for the index. Today being November F&O expiry, we expect volatility to remain embedded in the session.  

Persistent Systems: Persistent Systems machine learning models are now available on Amazon web services marketplace for machine learning. 
  
Bharat Financial: Bharat Financial has assigned a pool of receivables of an aggregate value of Rs. 827.76 crore to one of the largest private sector banks on a direct assignment basis as per the guidelines prescribed by the Reserve Bank of India. This is the third direct assignment transaction in FY19. 
  
Mercator: The company as a part of its strategic plan has sold its old vessel M. T. Vedika Prem, built in 1993, for a total consideration of Rs 28.54 crore. The proceeds would be used to meet its debt obligations/liabilities. 
  
Sical Logistics: The company has been awarded a letter of acceptance by Mahanadi Coalfields Limited for extraction of coal/coal measure strata and allied transportation activities at Hingula OCP, Hingula area, for a contract price of Rs.363.38 crore for extraction of 16.20 million cu.m. over a period of 3 years. 
  
Mawana Sugars: The board has approved the proposal of availment of the soft loan of Rs 146 crore granted by Uttar Pradesh Co-operative Bank to clear the outstanding dues of the farmers for the crushing season 2017-18 to its units Mawana Sugars Works and Nanglamal Sugar Complex as required by the state government of Uttar Pradesh. 
  
Indoco Remedies: Indoco Remedies has commissioned the new API manufacturing facility in Maharashtra. This new facility will enhance existing manufacturing capacity from 150 tonnes per annum to 600 tonnes per annum. 
  
Cosmo Films: The company, in April 2017, had announced setting up of a new production line for specialized polyester (BOPET) film at Aurangabad in Maharashtra. The line has been ordered, but due to adverse market conditions, the company has decided to postpone the delivery and commissioning by 8-10 quarters. This will have no impact on the current operations of the company. 
  
TCS: TCS  has acquired the business of BridgePoint Group, LLC, a US management consulting firm catering to the financial services industry, and specialising in retirement services, through the purchase of select company assets. 
  
Spice Jet: The company has clarified on report of non-payment of dues to Airports Authority of India, stating that the article  in question sensationalises a routine operational matter. Spice Jet has clarified that it is making its payments as per the stipulated timelines and the company stands committed to all its contractual obligations.