Sharp selloff in the last hour pushes Nifty below 11,600 mark
How well the EQSIS recommendations performed today 18 July?
1. EQSIS Intra: Long ITC above 274.25 Target 276.8 Stop below 272.25 CMP 274
2. EQSIS Intra: Short AXISBANK below 741.5 Target 734 Stop above 747.5 CMP 742
Top Stocks To Watch On Friday 19 July 2019
MINDTREE plunged by 8% and ended at Rs.690.65. It witnessed Star pattern on daily chart. Trading volume rose by 494 percent at last trading day. But most of the trades are intraday trades. It gives an impression of bearish trend. The intensity of the sellers is acknowledged by the todays gap.It is trading below its recent support zone. The Near term resistance is seen around 969.
WIPRO gained by 3.66% and closed at Rs.269.1. Trading volume inflated by 424 percent on Thursday. Yet numerous trades were intraday in nature. The technical indicator RSI signals oversold scenario.It is frequently rising for 3 days. It is trading inside the trading range. The Support is seen around 258 and resistance is seen around 289.
HDFC Increase by 2.56% and ended at Rs.2345.15. Trading volume hiked by 111 percent on Thursday. Surprisingly 64% of the trades are taken for delivery. It suggest for bullish trend formation. It is continuously advancing for 3 days. This stock is currently settled above the recent resistance zone. We see short term support around 2145.
YESBANK plunged by 12.8% and settled at Rs.85.8. It is one among the top traded stocks. Yet majority of them are intraday in nature. It is heading for The strength of the bears is indicated by the todays gap.It is trading below its recent support zone. The Near term resistance is seen around 115.
TATAMOTORS plunged by 4.26% and settled at Rs.160.75. It is listed in top traded counters. Derivative traders were aggressive in adding short positions. Open interest surged by 6.43 %. It is trading inside the trading range. The Support is seen around 151 and resistance is seen around 170.
ONGC plunged by 4.34% and to close at Rs.143.4. It is the most active stock. It is likely to witness Derivative traders were aggressive in adding short positions. Open interest surged by 13.24 %. It is trading below its recent support zone. The Near term resistance is seen around 173.
COLPAL strengthen by 3.13% and ended at Rs.1203.65. Trading volume rose by 370 percent. However majority of them are settled intraday. There could be bullish trend formation. This stock is currently settled above the recent resistance zone. We see short term support around 1121.
TATAELXSI volume inflated by 75 percent. But numerous trades were intraday trades. It gives an impression of bearish breakout. It is frequently breaking low for 3 days. It is trading below its recent support zone. The Near term resistance is seen around 919.
Closing Bell: Sharp selloff in the last hour pushes Nifty below 11,600 mark
The frontline index on the National Stock Exchange (NSE) Nifty50 settled below 11,600 mark on Thursday after a sharp selloff in the final hour of the session, Investor sentiment was weak due to tepid quarterly earnings, amid weak cues from other global markets and continued foreign fund outflow.
All sectoral indices, except the Nifty Media and the Nifty Fin Services, ended lower for the day. The Nifty PSU Bank index closed ~3% lower followed by Nifty Auto and Nifty Metal also slipped 2.7 percent and 2.4 percent, respectively.
Best And Worst Nifty 50 Performers Today
Market Update: Nifty hit fresh intraday low; breadth weak
Key equity barometer Nifty extended losses and hit fresh intraday lows in afternoon trade, dragged by auto, metals and select banks stocks amid negative global cues. At 2:05 IST, The Nifty 50 index was down 53 points or 0.44% at 11,634.
Nine out of 11 sectors continues to trade in the red zone.
Nifty PSU Bank is the biggest laggard among the sectors, shreddin 2.68%.
The market breadth was weak. On the NSE, 436 shares rose and 1304 shares fell. A total of 119 shares were unchanged.
Morning Update: Nifty trade lower on weak global cues
The benchmark index NSE Nifty50 were trading at 11,654 with a loss of 31 points. Domestic equity index nifty were trading lower on Thursday, 18 July, due to weak Asian cues. On NSE, except for Nifty Finance Service, all other sub-indices were trading in red with Nifty Metal leading the pack, down 1.16 percent. The market breadth was tilted in favour of sellers. About 483 stocks advanced and 942 shares declined on National Stock Exchange.
Top advancers on the 50-scrip index were Wipro, UPL, HDFC, Bharti Airtel, HDFC Bank and Britannia while the top looser were Yes Bank, Tata Motors, ONGC, Vedanta and HCL Tech.
YES Bank shares tanked 19 percent intraday on Thursday post disappointing first quarter earnings this fiscal year.
The home currency was trading at 68.76, up 0.1% from its previous close of 68.82.
FII & DII data
The foreign institutional investors (FIIs) sold shares worth Rs 16.97 crore on a net basis, while domestic institutional investors (DIIs) bought shares worth Rs 208.88 crore as on July 17th 2019.
Earnings To Watch
- ACC Ltd
- L&T Infotech
Earnings Reaction To Watch
- Total revenue grew to Rs 14786 crores in Q1 FY20, an increase from Rs 14321 crores in Q1 FY20.
- Net profit after tax to Rs 2388 crores in Q1 FY20, a decrease from Rs 2121 crores in Q1 FY20.
- Earnings per share to Rs 3.9 in Q1 FY20, a decrease from Rs 3.5 in Q1 FY20.
- Total revenue grew to Rs 7813 crores in Q1 FY20, an increase from Rs 6578 crores in Q1 FY20.
- Net profit after tax to Rs 96 crores in Q1 FY20, a decrease from Rs 1266 crores in Q1 FY20.
- Earnings per share to Rs 0.4 in Q1 FY20, a decrease from Rs 5.4 in Q1 FY20.
Top News Of The Day
Apollo Hospitals To Reduce Its Debt
- The family that controls Apollo Hospitals Enterprise, India’s largest private hospital chain, is looking to sell assets or bring an outside investor into their holding company to pay down debt.
FPIs On Bearish Mode
- Foreign portfolio investors, a major driver of the Indian stock market, have pulled out Rs 4,120 crore in the month of July till date, the highest outflow markets have seen in 2019.