Index trend and stocks in action April 12, 2018

NSE benchmark Nifty extended its upmove for the fifth consecutive session and ended the session with marginal gains of 15 points. The price action formed a ‘hanging man’ like candlestick pattern which hints at the reversal of an uptrend. Going forward, Nifty is likely to face resistance around 10,440-10,450 levels; however, a decisive move above this level will result in a decent upmove up to the level of 10,510. On the downside, immediate support is placed around the level of 10,350, followed by 10,300. 

Biocon: Mylan and Biocon have agreed to accelerate introduction of adalimumab biosimilar in Europe through Mylan's in-licensing arrangement with Fujifilm Kyowa Kirin Biologics (FKB). 

Tata Motors: The Tata Motors Group global wholesales in March 2018, including Jaguar Land Rover, were at 153,156 nos., higher by 18%, over March 2017.

L&T: L&T and BEL have signed a Memorandum of Understanding (MoU) for Defence Products and Systems. 

IDBI Bank: RBI slaps penalty of Rs 3 crore on IDBI Bank for non-compliance of NPA norms.

IEX: IEX & JEPX Sign Memorandum of Understanding (MoU) - The Organizations to jointly explore Opportunities of Cooperation in Electricity Market.