Index trend and stocks in action November 12, 2018

The NSE benchmark Nifty ended the range-bound trading day marginally in the red. The index settled at 10,585 with a loss of 0.12 per cent. The price action formed a small bear candle carrying a lower shadow. Going ahead, the identical high of the previous two sessions placed in the region of 10,616-10,620 is a crucial level to watch out. A sustainable move above this zone would take the index towards the levels of 10,700-10,710 which is a crucial resistance level as the 200-D EMA is placed in this region along with the swing high of October month. Failing to move past the identical high in the coming session may see the index continuing its consolidation. On the downside, the level of 10,540 is likely to act as a support zone, followed by 10,470, where the 20-D EMA is placed at present.  

Wipro: The company has announced that its acquired entity, Appirio, has launched a new office in Porto to expand its European operations and meet growing business requirements in the region. 
  
Bharti Airtel: Bharti Airtel has commenced tender offer to purchase $1.5 billion worth notes due in 2023. 
  
Amara Raja Batteries: The board of directors at the meeting held today approved the capital expenditure of Rs. 540 crore towards deployment of advanced stamped grid technology, second punching line for two-wheeler battery plant in a phased manner and debottlenecking in MVRLA plant. 
  
NHPC: The board will consider share buyback proposal  on November 14 . 
  
Tata Motors:  Jaguar Land Rover today reported total retail sales of 44,282 vehicles in October 2018, down 4.6% per cent year-on-year. 
  
Premier Explosives: The company has received arm licence from Arms Licence Issuance Authority for manufacture of ammunition, propellants and compounds at its greenfield Katepally plant in Telangana.  The receipt of licence would open up new avenues for the company and benefit it in the long run.