Nifty nosedives by over 1.5 percent
How well the EQSIS recommendations performed today 19 July?
1. EQSIS Intra: Short SBIN below 357.6 Target 354.3 Stop above 360.25 CMP 358
Top Stocks To Watch On Monday 22 July 2019
RBLBANK plunged by 13.69% and closed at Rs.500.4. Meantime it registered a remarkable loss on the weekly basis. Trading volume inflated by 559 percent on Friday. However numerous trades were intraday in nature. It gives an impression of bearish breakout. It is trading below its recent support zone. The Near term resistance is seen around 657.
BEL advanced by 2.07% and ended at Rs.98.55. . It did rise in the last trading session, but fell by a significant margin on a weekly basis. The technical indicator RSI indicates oversold scenario.It is continuously breaking low for 3 days. It is trading below its recent support zone. The Near term resistance is seen around 116.
SRTRANSFIN rose by 1.01% and closed at Rs.1061.6. Trading volume increased by 86 percent on 19 July 2019. Surprisingly 70% of the trades gone for delivery. The technical indicator RSI indicates oversold scenario.It is trading inside the trading range. The Support is seen around 1028 and resistance is seen around 1117.
M&M volume increased by 124 percent. It gives an impression of bearish breakout. Derivative traders were aggressive in adding short positions. Open interest surged by 3.56 %. It is frequently breaking low for 4 days. It is trading below its recent support zone. The Near term resistance is seen around 672.
ACC volume hiked by 724 percent at last trading day. However largely the volumes are intraday in nature. The momentum of the sellers is acknowledged by the todays gap.It is trading inside the trading range. The Support is seen around 1507 and resistance is seen around 1613.
COALINDIA rose by 0.73% and to close at Rs.221.9. It witnessed Star pattern on daily chart. Trading volume rose by 229 percent on 19 July 2019. It is heading for bearish trend. It is trading below its recent support zone. The Near term resistance is seen around 263.
NTPC advanced by 2.24% and ended at Rs.129.9. Trading volume spiked by 134 percent at last session. 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 127.
EICHERMOT volume inflated by 112 percent at last trading day. There is an evidence of negative breakout. The aggressive nature of sellers is evident from the opening gap.It is trading below its recent support zone. The Near term resistance is seen around 20096.
ONGC witnessed Star pattern on daily chart. ONGC volume increased by 121 percent at last session. It signals negative breakout. It is regularly sliding for3 days. It is trading below its recent support zone. The Near term resistance is seen around 172.
BIOCON plunged by 8.65% and finished at Rs. 240.3. Trading volume spiked by 610 percent. Impressively 65% of the trades are taken for delivery. Currently it is trading around the lower range of its price band. The crucial support zone is around 239.
EXIDEIND plunged by 6.5% and closed at Rs.188.35. Trading volume increased by 614 percent at last session. It gives an impression of negative breakout. It is trading below its recent support zone. The Near term resistance is seen around 209.
Closing Bell: Nifty nosedives by over 1.5 percent
The broader NSE Nifty dropped 177 points to 11,419 levels. The benchmark index NSE Nifty plunging more than 1.5 percent as auto and financial stocks witnessed heavy losses. Investor sentiment came under selling pressure after Finance Minister Nirmala Sitharaman dashed the hope of a tweak in FPI surcharge amid disappointing quarterly earnings.
Selling pressure in today’s session was broad-based as all the 19 sector gauges compiled by National Stock Exchange ended lower led by the Nifty Auto Index’s 3.3 per cent fall. Financial Services, Bank, PSU Bank, Private Bank, Pharma and PSU Bank sector gauges also dropped between 1.9 and 2.5 per cent each.
Best And Worst Nifty 50 Performers Today
Market Update: Nifty hit fresh intraday low
The Nifty 50 index was down 126 points or 1.10% at 11,467 levels. Key benchmark index nifty extended losses and hit fresh intraday low in afternoon trade. All the Nifty sectoral indices were trading in the red. Nifty Auto index slipped the most 2.16 per cent, while Nifty Realty was down 1.8 per cent.
Index heavyweight Reliance Industries (RIL) fell 0.23% ahead of its Q1 result today, 19 July 2019.
Morning Update: Nifty erases opening gains
The wider Nifty50 on the National Stock Exchange were trading at 11,541, down 52 points on Friday. Benchmark index nifty erased all opening gains as all sectoral indices traded in red. Auto and Pharma sector gauges declined 1.3 and 0.7 per cent each respectively.
Top percentage laggards on the 50-scrip Nifty index at the time were Mahindra & Mahidnra, Yes bank, Hero MotoCorp, Indian Oil and Bajaj Auto, trading between 1.47 per cent and 2.03 per cent lower.
Nifty Earnings To Watch
- Reliance Industries
- RBL Bank
- Dabur India
- Bandhan Bank
- Hindustan Zinc
- ICICI Lombard General Insurance Company
- L&T Finance Holdings
- L&T Technology Services
FII & DII data
The foreign institutional investors (FIIs) sold shares worth Rs 1404.86 crore on a net basis, while domestic institutional investors (DIIs) bought shares worth Rs 329.05 crore as on July 18th 2019.
Earnings Reaction To Watch
- Total revenue grew to Rs 4150 crores in Q1 FY20, an increase from Rs 3848 crores in Q1 FY20.
- Net profit after tax to Rs 456 crores in Q1 FY20, a decrease from Rs 329 crores in Q1 FY20.
- Earnings per share to Rs 25.33 in Q1 FY20, a decrease from Rs 18.27 in Q1 FY20.
- Total revenue grew to Rs 2485 crores in Q1 FY20, an increase from Rs 2156 crores in Q1 FY20.
- Net profit after tax to Rs 356 crores in Q1 FY20, a decrease from Rs 361 crores in Q1 FY20.
- Earnings per share to Rs 20.5 in Q1 FY20, a decrease from Rs 20.8 in Q1 FY20.
Top News Of The Day
REC Raises Money
- State-owned Rural Electrification Corporation raised about $650 million via offshore bonds, which are seen as a proxy for the government’s first sovereign overseas borrowings.
NHAI Eyes For Monetisation
- The National Highways Authority of India (NHAI) is eyeing Rs 4,995 crore from monetisation of third tranche of 566 km of highways.