Weekly Stock Market Roundup

NIFTY bled red for the third week in a row. The 50-share NSE index NIFTY fell 1.59% to finish at 10195.15 on Friday. The Indian benchmark registered its biggest single-day fall in more than a month following a huge sell-off across all sectors fueled by the shares of energy and metal companies which were among the worst hit in today’s session.  On a weekly basis, the wider NIFTY extended declined to post their third weekly loss despite opening with a jump at the beginning of the week. The sentiment at traders and investors’ desk remained subdued all over the week on lingering trade war concerns, sustained foreign fund outflows and unimpressive global cues.

Looking overseas, European markets trading mixed following Asian markets which finished mixed on Friday. The Global markets are on a choppy ride throughout the week after disappointing U.S. retail sales data and intensified trade war fears weighted on sentiment.

All sector gauges compiled by the NSE ended lower led by NIFTY METAL, NIFTY AUTO, NIFTY REALTY, NIFTY FIN SERVICE, NIFTY PHARMA, NIFTY PVT BANK and NIFTY FMCG as top losers.

From the NIFTY 50 basket of shares, IOC, TATAMOTORS, ULTRACEMCO, BPCL, ASIANPAINT, NTPC and ADANIPORTS underperformed as top losers while M&M, M&M, YESBANK, HINDUNILVR, and WIPRO are top gainers.

Intraday trade plan for Monday 19 March

ULTRACEMCO: This stock dipped by 3.89% and finished at Rs. 4026.3 on Friday. This stock trading volume hiked 2.5 times with 73% of the volume is deliverable trades. This stock is currently trading below its recent support zone and the near term resistance is seen around Rs.4236.

TV18BRDCST:  This stock trading volume hiked 1.5 times with numerous intraday trades at last trading session. Derivative traders were aggressive in unwinding long positions and the Open interest reduced by 5.44%. This stock is currently settled above the recent resistance zone and the short-term support is seen around Rs.54.

TATAMOTORS:  This stock dipped by 3.78% and settled at Rs.339.75 with 63% of deliverable trades on Friday. Derivative traders were aggressive in adding short positions and the Open interest increased by 5.53%. This stock is currently trading below its recent support zone and the near term resistance is seen around Rs.378.

SYNDIBANK: This stock advanced by 2.45% and ended at Rs.62.7 on Friday. This stock trading volume hiked 2 times with the majority of intraday trades. This stock is currently settled above the recent resistance zone as it is frequently rising for 4 days and the short term support is around Rs.53.

RELIANCE:  This stock trading volume hiked 1.2 times with 66% of the trades is taken for delivery at last trading session. The momentum of the sellers is evident from the opening gap appeared in the daily chart. This stock is currently trading below its recent support zone as it frequently sliding for3 days and the near term resistance is seen around Rs.954.

IOC: This stock dipped by 3.8% and to close at Rs.184.75 on Friday. This stock is listed in top traded counters with 70% of the trades gone for delivery. Derivative traders were aggressive in unwinding long positions and the Open interest reduced by 11.21%. This stock is currently is trading below its recent support zone and the near term resistance is seen around Rs.402.

CANBK: This stock rose by 1.47% and settled at Rs.268.35 on Friday. This stock is listed in top traded counters with a majority of intraday trades. This stock is currently trading inside the trading range and the Support is seen around Rs.234 and resistance is seen around Rs.317.