NIFTY fell nearly 100 points and ended below 11,600-mark amid weak global cues


Updated 7:10 pm

How well the EQSIS recommendations performed today 03 September?

Market Sentiment: We concluded the market sentiment as rangebound as market seen consolidating in the same phase in the first hour of trade.

1. EQSIS Intra: Long ASHOKLEY above 135 Target 137 Stop below 133.35 CMP 134.5

This call was first pick in the morning as this stock opened gap up from the previous closing.

Result: Not Initiated

This call was not initiated as this lacked momentum to grind higher.

2. EQSIS Intra: Long DRREDDY above 2545 Target 2570 Stop below 2525 CMP 2540

This call was given in the morning as this stock was seen performing well with surge in trading volume.

Result: Target

This call initiated as expected and acheived the traget.

3. EQSIS Intra: Long TATASTEEL above 610 Target 616.7 Stop below 604.5 CMP 608

This call was given in the afternoon as this stock was seen performing along with Metal sector.

Result: Not Initiated

This call was not initiated as this stock struck in the trend reversal.

4. EQSIS Intra: Long EICHERMOT above 29001 Target 29185 Stop below 28850 CMP 28960

This call was picked in the afteroon as this stock was performing well with good surge in volume.

Result: Not Initiated

This call lacked momentum to grind higher.


Updated 7:30 pm

Top Stocks To Watch On Tuesday 4 September

PCJEWELLER surged by 7.72% and finished at Rs. 90.75. . It did rise in the last trading session, but fell by a significant margin on a weekly basis. Trading volume spiked by 230 percent on Monday. Yet majority of them are intraday trades. Currently it is trading around the lower range of its price band. The crucial support zone is around 84.

MARUTI is the most active stock. Moreover 63% of the trades are deliverable volume. It suggest for negative breakout. Derivative traders were aggressive in adding short positions. Open interest surged by 8.31 %. It is regularly scaling down for 3 days. It is trading below its recent support zone. The Near term resistance is seen around 9431.

AXISBANK is the most active stock. Derivative traders were aggressive in unwinding long positions. Open interest reduced by 3.58 %. The aggressive nature of sellers is visible through the todays gap.The technical indicator RSI indicates overbought scenario.It is oscillating nearer to its resistance zone of 660.

RELINFRA is one among the top traded stocks. But majority of them are intraday in nature. The technical indicator RSI indicates overbought scenario.It is steadily advancing for 6 days. This stock is currently settled above the recent resistance zone. We see short term support around 394.

MINDTREE volume hiked by 231 percent at last trading day. However most of the trades are intraday in nature. There is an evidence of resistanceIt is frequently climbing for 3 days. This stock is currently settled above the recent resistance zone. We see short term support around 942.

HINDUNILVR plunged by 4.55% and to close at Rs.1699.1. It is heading for bearish breakout. Derivative traders were aggressive in adding short positions. Open interest surged by 7.03 %. It is trading below its recent support zone. The Near term resistance is seen around 1796.

DRREDDY surged by 4.07% and to close at Rs.2593.4. Trading volume inflated by 260 percent. However majority of them are intraday trades. There could be bullish breakout. This stock is currently settled above the recent resistance zone. We see short term support around 2204.

BAJFINANCE plunged by 4.64% and settled at Rs.2724.05. Trading volume spiked by 101 percent at last trading day. It is continuously grinding lowere levels for 3 days. Currently it is trading around the lower range of its price band. The crucial support zone is around 2688.

WIPRO advanced by 2.36% and finished at Rs. 308.35. Trading volume spiked by 714 percent. It is heading for resistanceIt is frequently climbing for 3 days. This stock is currently settled above the recent resistance zone. We see short term support around 275.

TATAPOWER volume inflated by 105 percent at last session. Surprisingly 57% of the trades gone for delivery. It is likely to witness positive breakout. This stock is currently settled above the recent resistance zone. We see short term support around 67.

MCDOWELL-N slipped by 3.27% and settled at Rs.609.65. Derivative traders were aggressive in adding short positions. Open interest gained by 4 %. It is trading inside the trading range. The Support is seen around 589 and resistance is seen around 652.

IDEA strengthen by 3.44% and to close at Rs.51.05. . It did rise in the last trading session, but fell by a significant margin on a weekly basis. Currently it is trading around the lower range of its price band. The crucial support zone is around 49.

BAJAJ-AUTO volume spiked by 105 percent on 3 September 2018. It is heading for positive breakout. It is steadily advancing for 3 days. This stock is currently settled above the recent resistance zone. We see short term support around 2624.

CENTURYTEX volume inflated by 111 percent. But largely the volumes are settled intraday. It is likely to witness aggressive sellingThis stock is currently settled above the recent resistance zone. We see short term support around 893.


Updated 7:00 pm

Closing Bell: The NSE NIFTY 50 Index fell 0.84 percent to settle at 11582.35 on Monday. Indian Equity benchmark NIFTY fell over 100 points from day’s high after the afternoon trade in the first trading session of the week. The weak Indian Rupee and negative global cues weighted on investors sentiment.

Nine out of 11 sectoral gauges compiled by NSE ended lower led by NIFTY FMCG, NIFTY PVT BANK, NIFTY REALTY and NIFTY PSU BANK indexes as top losers. on the other-side, NIFTY MEDIA and NIFTY METAL indexes are the top gainers.

From the NIFTY50 basket of shares BAJFINANCE, HINDUNILVR, POWERGRID, AXISBANK and ITC ended as top losers while DRREDDY, WIPRO, EICHERMOT, TITAN and HINDPETRO are top gainers.