Intraday Stock Market Commentary2019-04-22T11:41:51+05:30

Live Indian Market Intraday Updates on 26 August 2019

August 26th, 2019|Tags: |0 Comments

Nifty spike over 2% on FM Sitharaman’s announcements


6:03:03 PM

Top Stocks To Watch On Tuesday 27 August 2019

DLF surged by 4.93% and finished at Rs. 159.6. . It did rise in the last trading session, but fell by a significant margin on a weekly basis. It is one among the top traded stocks. Yet largely the volumes are intraday trades. The technical indicator RSI signals oversold scenario.Currently it is trading around the lower range of its price band. The crucial support zone is around 152.

RBLBANK surged by 6.08% and settled at Rs.375.75. . It did rise in the last trading session, but fell by a significant margin on a weekly basis. The technical indicator RSI signals oversold scenario.Currently it is trading around the lower range of its price band. The crucial support zone is around 352.

YESBANK surged by 6.16% and ended at Rs.62.9. It is listed in top traded counters. Yet numerous trades were settled intraday. The technical indicator RSI signals oversold scenario.Currently it is trading around the lower range of its price band. The crucial support zone is around 62.

L&TFH surged by 6.79% and closed at Rs.96. . It did rise in the last trading session, but fell by a significant margin on a weekly basis. Trading volume increased by 101 percent. Currently it is trading around the lower range of its price band. The crucial support zone is around 91.

IDEA plunged by 4.35% and closed at Rs.5.5. At the same time it secured an exceptional loss on the weekly basis. The technical indicator RSI signals overbought scenario.Currently it is trading around the lower range of its price band. The crucial support zone is around 5.

TATASTEEL dropped by 2.09% and to close at Rs.338.05. It is listed in top traded counters. However numerous trades were settled intraday. It gives an impression of bearish breakout. It is trading below its recent support zone. The Near term resistance is seen around 445.

FEDERALBNK witnessed Star pattern on daily chart. FEDERALBNK volume hiked by 143 percent at last session. The technical indicator RSI indicates oversold scenario.Currently it is trading around the lower range of its price band. The crucial support zone is around 81.

BANKINDIA volume hiked by 77 percent at last session. However most of the trades are intraday trades. The firmness of the bulls is recognized by the todays gap.Currently it is trading around the lower range of its price band. The crucial support zone is around 63.

MARUTI is listed in top traded counters. However largely the volumes are settled intraday. The momentum of the bears is recognized by the opening gap.This stock is currently settled above the recent resistance zone. We see short term support around 5465.

JSWSTEEL declined by 2.97% and settled at Rs.214.1. Trading volume rose by 104 percent. The technical indicator RSI indicates overbought scenario.Currently it is trading around the lower range of its price band. The crucial support zone is around 211.

MFSL volume inflated by 73 percent on Monday. Interestingly 67% of the trades are taken for delivery. It is likely to witness bearish reversalThis stock is currently settled above the recent resistance zone. We see short term support around 387.

TCS is one among the top traded stocks. Derivative traders were aggressive in adding long positions. Open interest increased by 4.17 %. This stock is currently settled above the recent resistance zone. We see short term support around 2110.


4:41:44 PM

Closing Bell:  Nifty spike over 2% on FM Sitharaman’s announcements

The broader NSE Nifty rose 2.11 percent to 11,057 levels. The headline index nifty ended over 2 percent higher on Monday after the government on Friday announced measures to boost the slowing economic growth while rolling back higher taxes on domestic and foreign portfolio investors which were imposed in the Budget announced last month. The likely talks between the US and China over trade deal also boosted sentiment.

All sectoral indices, except Nifty Metal, ended higher led by the Nifty Financial Service index’s 4 percent surge followed by Nifty Private Bank, PSU Bank, Realty, Banking, and Media sector gauges also climbed between 3.5-3.7 percent each.

Bank Nifty 

Bank Nifty opened gap up by 700 points but drifted sharply towards 26,900 levels in the first hour of the trading session. However, it recovered sharply from lower levels and gained nearly 1,000 points to close near 28,000. Now it has to hold above the 27,600-27,900 zone to witness an upward move towards 28,200 and then 28,500 levels, while on the downside supports are seen at 27,500 and then 27,000 levels. 

Best And Worst Nifty 50 Performers Today


10:07:14 AM

Morning Update: Nifty pares gains; Metal, IT shares plunge

The NSE Nifty 50 fell 8 points to 10,821 as of 10:00 am. After opening higher, the headline index Nifty erased gains on Monday morning, dragged by metal stocks amid US-China trade war concerns. Majority of the Nifty sectoral indices were trading in the red. While weakness in IT and metal indices pushed the markets lower. On the flipside, Gains across financial services indices limited the downside.

Shares of Yes Bank Ltd and Indiabulls Housing Finance Ltd were among the top gainers on the NSE Nifty, rising over 3% each. Meanwhile, Shares of miners Vedanta Ltd and Tata Steel Ltd were among the top losers on the NSE index, down 3.5% and 3.2% respectively.

Meanwhile, the rupee were trading lower against the US dollar, with the home currency weakening as much as 0.46 percent to Rs 72 against the greenback.

The Prime Minister Narendra Modi government on Friday announced a rollback of tax surcharge on equity investments (both short term and long term gain) on foreign and domestic equity investors.


9:36:42 AM

FII & DII data

The foreign institutional investors (FIIs) sold shares worth Rs 1737.20 crore on a net basis, while domestic institutional investors (DIIs) bought shares worth Rs 1548.49 crore as on August 23rd, 2019.


9:02:20 AM

Top News Of The Day

Rcom Asks For Refund

  • Reliance Communications has asked Ericsson to refund Rs 579.74 crore that the bankrupt telco had paid it because the insolvency resolution process that Ericsson had initiated against RCom had resumed. 

DHFL Asks Lenders To Take Haircut

  • Troubled mortgage lender Dewan Housing Finance Limited has proposed a 35 per cent haircut to all lenders as part of its resolution plan submitted to Union Bank of India. 

8:57:40 AM

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