Weekly Share Market Roundup

NIFTY welcomed in March by extending losses for the third straight day. The 50-share NSE index NIFTY fell 0.33% to finish at 10458.35 at last trading day of the week. The Indian benchmark index NIFTY fell for the third day in a row despite better-than-expected Gross Domestic Product (GDP) numbers which registered a growth of 7.2% in the October-December quarter of 2017-18, the fastest growth in five quarters.  Session marks the last day of the week as Indian market will remain shut tomorrow on account of “Holi” while resuming on Monday investors will look on to the stable Indian market and impressive global cues.

Looking overseas, European markets trading broadly lower tracking Asian markets which finished mixed to lower on Thursday. Global markets remained pathetic this week and US indices have been setting the tone for weakness after comments from new Federal Reserve Chair Jerome Powell revived fears of a sharp rise in interest rates at a faster pace than expected.

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

From the NIFTY 50 basket of shares, ICICIBANK, VEDL, ZEEL, SBIN, HINDALCO, UPL, and LUPIN underperformed as top losers while BPCL, COALINDIA, AUROPHARMA, INDUSINDBK, BAJFINANCE, and EICHERMOT are top gainers.

List of best stocks to add to your watchlist on March 5

RELINFRA: This stock declined by 3% and ended at Rs.441.95 on Thursday. Derivative traders were aggressive in adding short positions and Open interest surged by 5.95%. This stock is currently trading around the lower range of its price band and the crucial support zone is around Rs.425.

NIITTECH: This stock surged by 4.42% and settled at Rs.871.4 at last trading day. This stock volume increased 84% with most of the trades is settled intraday. This stock is currently settled above the recent resistance zone and the short term support is around Rs.751.

IDBI: This stock surged by 7.78% and to close at Rs.80.35 with 3 times the inflated trading volume on Thursday. Derivative traders were aggressive in adding long positions and the Open interest increased by 31.34%. This stock is currently settled above the recent resistance zone and the short term support is around Rs.57.

ICICIBANK: This stock is one among the top traded stocks as it declined by 2.65% and closed at Rs.304.95 on Thursday. Derivative traders were aggressive in adding short positions and the Open interest gained by 7.17%. This stock is currently trading below its recent support zone as it continuously grinding lower levels for 3 days and the near term resistance is seen around Rs.346.

CUMMINSIND: This stock volume hiked by 37% with 79% of the trades is taken for delivery on 1 March 2018. This stock is currently trading around the lower range of its price band and the crucial support zone is around Rs.788.

COLPAL: This stock climbed by 1.52% to close at Rs.1056.9 on Thursday. This stock did rise in the last trading session but fell by a significant margin on a weekly basis. This stock trading volume spiked 2.5 times with 93% the trades is taken for delivery. This stock is currently trading around the lower range of its price band and the crucial support zone is around Rs.1039.

CANBK: This stock declined by 2.99% and closed at Rs.290.3 at last trading day. This stock volume increased 71% with most of the trades is settled intraday. This stock is currently trading below its recent support zone as it recorded a considerable decline on the weekly basis and the near term resistance is seen around Rs.338.

BPCL: This stock climbed by 2.88% and ended at Rs.441.9 on Thursday. This stock did rise in the last trading session but fell by a significant margin on a weekly basis. Derivative traders were aggressive in exiting short positions and Open interest reduced by 11%. This stock is currently trading around the lower range of its price band and the crucial support zone is around Rs.425.

AUROPHARMA: This stock climbed by 1.66% and finished at Rs. 624.1 at last trading session. This stock trading volume increased 30% with most of the trades is settled intraday. This stock secured a considerable percent over recent days and currently oscillating nearer to its resistance zone of Rs.627.