Index trend and stocks in action June 28, 2018

Indian benchmark index, Nifty finally broke out from its consolidation mode and nosedived amid Brent crude prices seen firming up and the escalating trade war concerns as also the rupee slipping to its weakest in more than 18 months. Nifty maintained its downbeat throughout the day and closed at 10671 level, down by 0.9%. The price action formed a long bear candle that has breached the range on the lower end and also breached its crucial upward sloping trendline support at 10700. Going ahead, traders will keep a watch on opening levels of the Nifty on Thursday and will closely watch the immediate support level of 10,650. A slip below this level would confirm weakness and, in that case, we could see Nifty sliding further lower up to the level of 10,534, which is its 100-DMA. On the higher side, the levels of 10,710, followed by 10,780, will resist any pullback.  

Exide Industries: Exide Industries has entered into a joint venture with Leclanche SA to build lithium-ion batteries. 

Bank of Maharashtra: The bank has clarified that it has an exposure of Rs 96.52 crore to D.S Kulkarni Developers. 

GMR Infra:  GMR Infra''s Kakinada SEZ Limited has been declared as selected bidder for the development of a commercial port in East Godavari district, AP . 

Mercator:  Mercator arm has been given mining lease in Gujarat for 20 years for exploitation of 23 million barrels of oil.