NIFTY log third straight gain
How well the EQSIS recommendations performed today 17 July?
1. EQSIS Intra: Long NIFTYFUT above 11675 Target 11718.8 Stop below 11640 CMP 11666
2. EQSIS Intra: Long BIOCON above 262.5 Target 266.9 Stop below 259 CMP 262
3. EQSIS Intra: Long SUNTV above 486 Target 490 Stop below 482.3 CMP 484
Status: Not Initiated
4. EQSIS Intra: Long ASIANPAINT above 1390 Target 1408.1 Stop below 1375.5 CMP 1385
Top Stocks To Watch On Thursday 18 July 2019
TATAELXSI plunged by 8.87% and closed at Rs.742.45. Meantime it registered significant fall on the weekly basis. Trading volume spiked by 1812 percent on 17 July 2019. However numerous trades were settled intraday. It is likely to witness negative breakout. Derivative traders were aggressive in adding short positions. Open interest gained by 58.44 %. It is trading below its recent support zone. The Near term resistance is seen around 919.
DHFL surged by 11.17% and finished at Rs. 56.25. Trading volume hiked by 112 percent on Wednesday. However most of the trades are settled intraday. 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 55.
STAR declined by 2.94% and ended at Rs.366.75. It witnessed Star pattern on daily chart. Trading volume increased by 403 percent on Wednesday. But largely the volumes are settled intraday. It is trading below its recent support zone. The Near term resistance is seen around 419.
YESBANK plunged by 5.25% and finished at Rs. 98.4. Trading volume inflated by 84 percent at last trading day. However most of the trades are intraday in nature. It is trading inside the trading range. The Support is seen around 89 and resistance is seen around 115.
BIOCON volume rose by 67 percent at last session. It suggest for positive breakout. The technical indicator RSI indicates oversold scenario.This stock is currently settled above the recent resistance zone. We see short term support around 238.
Market Update: NIFTY near 11700
The NSE Nifty 50 rose 0.30 percent to 11,697.30 on Wednesday. Indian equity benchmark Nifty trading near 11,700 mark with margianl gains led by Media, FMCG and FInancial stock in the mid-afternoon trade. The market breadth was tilted in favour of buyers. About 958 stocks advanced and 670 shares declined on NSE.
Earnings To Watch
- Yes Bank
Earnings Reaction To Watch
- Total revenue grew to Rs 504 crores in Q1 FY20, an increase from Rs 471 crores in Q1 FY20.
- Net profit after tax to Rs 292 crores in Q1 FY20, a decrease from Rs 205 crores in Q1 FY20.
- Earnings per share to Rs 13.7 in Q1 FY20, a decrease from Rs 9.6 in Q1 FY20.
Top News Of The Day
Edelweiss To Sell Its Wealth Business
- US-based Kora Management is in advanced talks to buy 20 per cent in Edelweiss Wealth Management for Rs 2,000 crore, valuing the company at Rs 10,000 crore.
Banks Bad Loans Down
- Total bad loans of commercial banks declined by Rs 1.02 lakh crore to Rs 9.34 lakh crore in the 2018-19 fiscal on the back of steps taken by the government.