Index trend and stocks in action November 14, 2017

During the previous trading session, Nifty started the session on a flat note, tracking mixed cues from the global bourses. However, as the day progressed, the index witnessed selling pressure and closed below the important psychological mark of 10,250. The price action resulted into formation of a sizable bear candle which carries a lower high and lower low. Going forward, the zone of 10,170-10,180 is a crucial support level for index as the upper band of the last three months range breakout is placed around level of 10,170 which may act as a support in the present scenario as per the concept of change in polarity. Secondly, the 38.2% retracement of the current up move is near 10,180, failure to hold this support level could lead to continuance of profit booking up to levels of 10,140. Whereas, on the upside, the zone of 10,240-10,260 will now act as a stiff resistance for the index.    

Edelweiss Financial Services: CRISIL Limited has assigned the rating of 'CRISIL A1+' (CRISIL A one plus) to the proposed Short Term Debt Issue of the company aggregating to Rs. 4,500 Crore. 

Thomas Cook: Quess Corp Limited ('Quess'), a subsidiary of the Company,  clarifies pertaining to the completion of acquisition of 70% equity in Vedang Cellular Services Private Limited. 

Havells: Hyundai Electric & Energy Systems Co., Ltd, and Havells India Ltd announced  the  signing  of  Memorandum  of  Understanding  (MoU)  to  mutually  explore  and  supply  low  and  medium voltage protection and switching devices. 

Muthoot Capital: Company to issue 27.27 lakh shares at Rs 605 each via QIP.