Nifty declines for the fifth consecutive trading session
How well the EQSIS recommendations performed today 24 July?
1. EQSIS Intra: Short LT below 1383 Target 1361.8 Stop above 1400 CMP 1384
Status: On Cost
2. EQSIS Intra: Short BEL below 97.25 Target 96.1 Stop above 98.15 CMP 97.4
Top Stocks To Watch On Thursday 25 July 2019
M&MFIN plunged by 10.5% and settled at Rs.304.45. Meanwhile it maintained a considerable loss on the weekly basis. It witnessed Star pattern on daily chart. Trading volume increased by 1038 percent at last trading day. It suggest for bearish breakout. The firmness of the sellers is acknowledged by the opening gap.It is continuously sliding for5 days. It is trading below its recent support zone. The Near term resistance is seen around 404.
IDEA plunged by 5.69% and settled at Rs.9.95. Meanwhile it reported a considerable loss over a recent days. Trading volume rose by 138 percent. There is an evidence of bearish trend. Derivative traders were aggressive in adding short positions. Open interest gained by 9.65 %. It is steadily scaling down for 5 days. It is trading below its recent support zone. The Near term resistance is seen around 13.
ZEEL surged by 5.21% and ended at Rs.379.6. Also it registered significant margin on the weekly basis. Trading volume rose by 154 percent at last session. However most of the trades are settled intraday. It suggest for positive breakout. This stock is currently settled above the recent resistance zone. We see short term support around 330.
ASIANPAINT gained by 3.78% and settled at Rs.1483.4. Also it recorded a remarkable returns in last five session. Trading volume rose by 612 percent at last session. It is heading for bullish trend formation. This stock is currently settled above the recent resistance zone. We see short term support around 1314.
INDIGO surged by 4.7% and settled at Rs.1595. Also it registered a remarkable margin on the weekly basis. It is one among the top traded stocks. Yet majority of them are intraday in nature. The technical indicator RSI signals oversold scenario.It is oscillating nearer to its resistance zone of 1622.
TORNTPHARM surged by 9.48% and finished at Rs. 1607. Trading volume hiked by 591 percent. But majority of them are intraday in nature. It is likely to witness bullish trend formation. This stock is currently settled above the recent resistance zone. We see short term support around 1478.
JUBLFOOD plunged by 5.76% and to close at Rs.1157.6. Trading volume hiked by 304 percent on 24 July 2019. However largely the volumes are settled intraday. It suggest for bearish breakout. It is trading below its recent support zone. The Near term resistance is seen around 1274.
Market Update: Nifty At Day’s Low
The NSE Nifty 50 fell 0.85 percent to 11,235 on Wednesday. Indian equity benchmark extending losses from the previous session and trading at day’s low below 10,250 level.
All the 11 sectoral gauges compiled by National Stock Exchange traded lower, led by the NSE Nifty Metal Index’s 3.02 percent fall.
The market breadth was tilted in favour of sellers. About 1,169 shares declined and 486 stocks advanced on National Stock Exchange.
Earnings To Watch
- Asian Paints
- Canara Bank
- ICICI Prudential
- V-Guard Industries
Earnings Reaction To Watch
- Total revenue grew to Rs 29636 crores in Q1 FY20, an increase from Rs 27005 crores in Q1 FY20.
- Net profit after tax to Rs 1473 crores in Q1 FY20, an increase from Rs 1215 crores in Q1 FY20.
- Earnings per share to Rs 10.5 in Q1 FY20, an increase from Rs 8.6 in Q1 FY20.
- Total revenue grew to Rs 10364 crores in Q1 FY20, an increase from Rs 9778 crores in Q1 FY20.
- Net profit after tax to Rs 1792 crores in Q1 FY20, a decrease from Rs 1565 crores in Q1 FY20.
- Earnings per share to Rs 8.2 in Q1 FY20, a decrease from Rs 7.3 in Q1 FY20.
Top News Of The Day
IMF Cuts India’s Growth Rate
- The IMF has projected a slower growth rate for India in 2019 and 2020, a downward revision of 0.3 per cent for both the years, citing India’s GDP will now grow respectively at the rate of 7 and 7.2 per cent reflecting a weaker-than expected outlook for domestic demand.
FM Hints On Corporate Tax
- Finance minister Nirmala Sitharaman signalled that the government may extend the lower corporate tax rate of 25% to all companies, giving India Inc something to cheer about.