Daily stock market update for 11 August

TATA Motors lost 8%; Nifty tested 9800 level at Thursdays’ session. Nifty extends its loss in past four sessions due to the Global cause and panic selling. Indian bench mark index Nifty approximately lost 87 points in today’s trading session. Two major support zone levels are taken down in the past sessions clearly witnessing trend reversal as per technical. Volume is witnessed in bearish stocks indicating the strength of the bears. Traders are requested to be with the trend.

stock market

Sectors

All the major sectors in NSE are dragged down by bear sentiment except IT sector. The stocks INFY, WIPRO pushed IT sectors to gains. REALTY sector is the top among the losers in the NSE sectors. MEDIA, AUTO, PSU BANKS are the sectors which pushed Nifty down.

Stocks

TATAMOTORS plunged by 8.62% and to close at Rs.380.2. Trading volume hiked by 364 percent on Thursday. It is likely to witness bearish breakout. The aggressive nature of sellers is indicated by the opening gap. It is trading below its recent support zone. The stock can be considered bearish as long as the gap remained opened.

TATAPOWER stocks volume inflated by 203 percent in last trading day. Moreover, 69% of the trades were taken for delivery. It indicates a bearish trend. It is regularly breaking low for 3 days. It is trading below its recent support zone. The Near term resistance is seen around 84.

BOSCHLTD volume rose by 116 percent on Thursday. Furthermore, 80% of the trades are gone for delivery. There could be a negative breakout. It is steadily sliding for3 days. It is trading below its recent support zone. The Near term resistance is seen around 25180.

AXISBANK is listed in top traded counters. Interestingly 70% of the trades were taken for delivery. It is regularly scaling down for 3 days. It is trading below its recent support zone. The Near term resistance is seen around 545.

SUNPHARMA stocks volume spiked by 142 percent in last trading day. There is an evidence of bearish breakout. It is frequently sliding for3 days. It is trading below its recent support zone. The Near term resistance is seen around 587.