Index trend and stocks in action March 20, 2018

The benchmark Nifty witnessed a sharp decline as it ended lower for the fourth straight session. The price action formed a sizeable bear candle, which ended at the low of the day. It also formed a lower high and lower low as compared to the previous session, signalling a corrective bias. The index slipped below its 200-day SMA on a closing basis, which confirms weak sentiments. Going ahead, the level of 10,000 is a key support for the index. On the other hand, the immediate hurdle for the Nifty is placed around the level of 10,160, followed by 10,200. On the daily time frame, the chart has seen formation of positive divergence pattern on the RSI.  

Capacite Infraprojects: Receipt of order worth of Rs. 256.58 crores from Alamelu Charitable Foundation (an initiative of Tata Trusts) . 

IRB Infra:  The company has emerged as a preferred bidder for a Hybrid Annuity Project under NHDP Phase VI in the state of Gujarat. 

BGR Energy Systems: BGR Energy Systems wins order worth Rs. 87.68 crore from Tamil Nadu Transmission Corporation. 

Future Retail: Future Retail gets RBI nod to increase RPFIs including Foreign Institutional Investors (FIIs) up to 49%. 

Prism Cement: Prism Cement's JV completes expansion of tiles capacity at Matel plant, Morbi.