Index trend and stocks in action November 28, 2018

The NSE benchmark Nifty started the session with a modest loss and, thereafter, Nifty traded with high volatility in the first half of the trading session. However, the bulls took centre-stage in the second half and, as a result, Nifty logged gain for the second consecutive day. The price action formed a sizeable bullish candle carrying higher high-low formation, signifying follow-through strength. In the coming session, we would expect the momentum to continue and Nifty may test the level of 10,742, which is the 200-day moving average, followed by 10,775, which is the recent swing high registered on November 19, 2018. On the flip side, immediate support is seen around 10,645, which is the 50-day moving average. The daily 14-period RSI is currently quoting around the 55 mark and moving past the 60 mark could mean strengthening of the upside momentum in the market. 

Inox Wind: The company has signed an exclusive agreement with AMSC, a global solutions provider serving the wind and power grid industry, to launch the 3MW wind turbine, which is especially suitable for low wind regimes in India. The 3MW wind turbine extends the existing 2MW WTG product offering from Inox Wind and reinforces the company's position as the leading wind turbine manufacturer in the country. 
  
Merck: The Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, Government of India, has approved the acquisition of the biopharma business of the company to its arm ‘Merck Specialties Private Limited’ by way of slump sale. 
  
Orient Electric: Orient Electric has entered into a strategic partnership with De'Longhi Group, Italy. This partnership paves the way for the entry of three international premium small appliances brands in India - De'Longhi, Kenwood and Braun. Orient Electric will have exclusive rights to market and sell these brands in India. 
  
Axiscades Engineering Technologies: Axiscades Aerospace & Technologies Pvt Ltd., a wholly-owned subsidiary of the company, has won contracts worth USD 20 mn. 
  
Atul Auto: The company has signed the term-sheet with JBM Industries Limited for entering into a joint venture agreement with an object to expand/develop the business of three-wheeler electric autos with the blend of respective expertise. 
  
Aurionpro Solutions: Aurionpro has opened a new 'Experience Centre' in Navi Mumbai. 
  
Yes Bank: Yes Bank's foreign currency issuer rating downgraded to Ba1 from Baa3 by Moody's Investors Service and the outlook has been changed to negative