Index trend and stocks in action October 19, 2018

The NSE benchmark Nifty snapped its three-day winning streak as it not only pared all its morning gains, but slid further deep into the red terrain and ended the day with loss of over one per cent and below the 10,500 mark. The price action formed a large bearish engulfing candlestick pattern. Going ahead, immediate support for the Nifty is placed at the level of 10,400, and if it sustains below this immediate support level, then the correction may extend up to the level of 10,350, which is 61.8 per cent retracement of its recent rise. On the upside, the level of 10,530 is likely to act as an immediate resistance level, followed by 10,600.  

Yes Bank: The Reserve Bank of India has reaffirmed that a successor to Yes Bank MD & CEO Rana Kapoor should be appointed by February 1, 2019. 
  
SBI: The board of directors of the bank is scheduled on October 22, 2018, to consider and approve to pass a resolution for raising of equity capital . 
  
Central Bank of India: The bank has exposure in IL&FS and its subsidiaries/SPVs by way of credit and investments, which is less than 2 per cent of IL&FS group's aggregate external debt. 
  
Inox Leisure: The company clarified that no negotiation has taken place between the company and Cinepolis India. 
  
Reliance Industries: Reliance Industries will acquire about 51.3 per cent stake in  Hathway Cable  and 66 per cent stake in Den Networks .