Index trend and stocks in action July 11, 2019

The Nifty ended Wednesday’s session on a negative note and closed below the crucial 100-DMA at 11,499 level. The price action formed a small body negative candle with an upper shadow. Going into the weekly expiry day, it would be interesting to see the opening of the index and the trajectory that it forms thereafter. It would be important for the bulls to hold their head above the July 9 session low (11,461) as holding above this level would keep the pullback options open for the index. On the higher side, we believe any pullback is likely to resist around the 11,600 mark as this level is the exit poll session low, and as per the change of polarity concept, the earlier support level will becomes future area of resistance. In case of failure to cross the hurdle of 11,600 on the upside, there would be extended consolidation in the range of 11,400-11,600 in the coming sessions.

Saksoft: The company has completed acquisition of 20 per cent in the equity share capital of Dreamorbit. Dreamorbit has now become a wholly-owned subsidiary of Saksoft.

Aurobindo Pharma: Aurobindo Pharma has announced the launch of Cinacalcet hydrochloride tablets (30mg, 60mg and 90mg) at risk in the US market in accordance with the terms of settlement agreement with Amgen Inc.

Ajmera Realty & Infra: The company, in alliance with a local partner of Mumbai, has announced joint development of commercial units at a project located at Ashok Mills Lane, Ghatkopar (W), Mumbai.

TCS: TCS iON, a strategic unit of Tata Consultancy Services, has announced collaboration with the All India Council for Technical Education (AICTE), a national level apex advisory and regulatory body for technical education, to provide students with a custom curated digital learning course to equip them with career skills.

TVS Motor: TVS Motor has launched the new 100cc motorcycle, TVS Sport, in Sri Lanka.