Nifty Finish In Green Despite Losing Early Gains
How well the EQSIS recommendations performed today 15 July?
1. EQSIS Intra: Short ICICIBANK below 422 Target 417.9 Stop above 425.25 CMP 422.5
Status: Not Initiated
Top Stocks To Watch On Tuesday 16 July 2019
SUNPHARMA gained by 3.74% and closed at Rs.422.95. Also it secured a considerable percent over a recent days. Trading volume rose by 168 percent on 15 July 2019. It gives an impression of positive breakout. The momentum of the buyers is acknowledged by the todays gap.It is frequently rising for 5 days. This stock is currently settled above the recent resistance zone. We see short term support around 368.
INFY surged by 7.24% and closed at Rs.779.35. Trading volume rose by 496 percent at last trading day. It is likely to witness bullish breakout. The momentum of the buyers is visible through the unfilled gap.It is regularly rising for 3 days. This stock is currently settled above the recent resistance zone. We see short term support around 710.
RBLBANK plunged by 5.43% and to close at Rs.606.1. Trading volume increased by 203 percent at last session. It Indicates bearish breakout. Derivative traders were aggressive in adding short positions. Open interest increased by 44.07 %. It is trading below its recent support zone. The Near term resistance is seen around 657.
MARUTI climbed by 1.81% and to close at Rs.6079.7. It is the most active stock. Derivative traders were aggressive in exiting short positions. Open interest reduced by 2.64 %. It is continuously advancing for 3 days. Currently it is trading around the lower range of its price band. The crucial support zone is around 5935.
INDIGO witnessed Bullish Piercing pattern on daily chart. INDIGO is the most active stock. The intensity of the sellers is recognized by the unfilled gap.The technical indicator RSI signals oversold scenario.It is trading below its recent support zone. The Near term resistance is seen around 1664.
TCS is one among the top traded stocks. Derivative traders were aggressive in adding long positions. Open interest surged by 1.63 %. 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 2097.
TATAELXSI dipped by 3.88% and finished at Rs. 816.5. Trading volume inflated by 137 percent on 15 July 2019. However largely the volumes are intraday in nature. It is likely to witness bearish breakout. It is trading below its recent support zone. The Near term resistance is seen around 919.
DHFL volume inflated by 84 percent at last session. But most of the trades are settled intraday. There is an evidence of bearish breakout. The firmness of the sellers is indicated by the unfilled gap.It is trading below its recent support zone. The Near term resistance is seen around 85.
GODREJCP volume increased by 58 percent on 15 July 2019. Moreover 77% of the trades gone for delivery. It Indicates negative breakout. It is frequently breaking low for 6 days. It is trading below its recent support zone. The Near term resistance is seen around 683.
IBULHSGFIN plunged by 4.05% and to close at Rs.638.95. Also it reported an exceptional loss on the weekly basis. It is one among the top traded stocks. It is trading inside the trading range. The Support is seen around 560 and resistance is seen around 722.
DISHTV surged by 5.79% and closed at Rs.32.9. Trading volume rose by 48 percent on 15 July 2019. Yet majority of them are intraday trades. This stock is currently settled above the recent resistance zone. We see short term support around 25.
PEL surged by 6.81% and to close at Rs.2078. Trading volume hiked by 74 percent at last session. It suggest for bullish breakout. This stock is currently settled above the recent resistance zone. We see short term support around 1796.
Closing Bell: Nifty Finish In Green Despite Losing Early Gains
The broader NSE Nifty edged up 30 points to finish at 11,946 level. The Indian headline index nifty closed higher led by IT and pharma stocks. Sectoral indices ended mixed for the day. Nifty IT gained nearly 2.75 percent followed by Nifty Pharma which was up 0.9 percent. Meanwhile, Nifty PSU Bank was the worst performing sector, down 2.5 percent followed by consumer goods and other banking indices.
Infosys, Sun Pharma, UPL, Tech Mahindra, and Maruti Suzuki were top gainers on the Nifty50 while India bulls Housing, IndusInd Bank, L&T, Bharti Airtel, and Adani Ports led the losses.
Infosys share price closed 7.2% higher at Rs 779.45 on BSE after the firm reported strong Q1 results in the April-June quarter.
Market Update: Nifty above 11,550 mark
The broader NSE Nifty were trading 8 points higher at 11,561 level. Key equity index nifty oscillated between gains and losses in afternoon trade as selling pressure was seen in L&T, ITC, HDFC Bank and ICICI Bank. However, the stock market bounced back after hitting fresh intraday low led by Infosys, Kotak Mahindra Bank, Sun Pharma and Maruti.
The Nifty Pharma index rose 1% amid buying interest seen in Sun Pharma and Piramal Enterprises. Dr. Reddy’s, Divi’s Lab, and Lupin also gained in today’s session.
Morning Update: Nifty erases opening gains
The NSE Nifty benchmark moved to 11,569, up 10 points from the previous close. The headline index Nifty erased opening gains and were trading flat owing to weakness in Nifty PSU Bank, Metal and media stocks. Infosys shares jumped almost 5 percent, while DHFL shares tanked 10 percent in the morning trade.
The market breadth was tilted in favour of sellers. About 700 stocks advanced and 900 shares declined on National Stock Exchange.
Six out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty IT Index’s 1.5 percent gain. On the flipside, the NSE Nifty PSU Bank Index was the top sectoral loser, down 2.30 percent.
Earnings Reaction To Watch
- Total revenue grew to Rs 21803 crores in Q1 FY20, an increase from Rs 19128 crores in Q1 FY20.
- Net profit after tax to Rs 3798 crores in Q1 FY20, a decrease from Rs 3612 crores in Q1 FY20.
- Earnings per share to Rs 8.8 in Q1 FY20, a decrease from Rs 8.3 in Q1 FY20.
Earnings To Watch
- Bajaj Consumer Ltd
- Tata Metaliks Ltd
Top News OF The Day
FPI Remain Bullish On India’s Growth Story
- Foreign investors have remained net buyers in the Indian capital markets this month so far, even as the equity segment saw robust outflows post the Budget.
Ceat Tyres On Capacity Expansion
- Tyre major Ceat has lined up investment of Rs 3,500 crore to ramp up manufacturing capacity across its plants over the next three to four years.