Nifty fails to hold 11,500 mark; pharma & auto stock cracks
How well the EQSIS recommendations performed today 27 March?
1. EQSIS Intra: Long VOLTAS above 626.75 Target 631.4 Stop below 623 CMP 626
2. EQSIS Intra: Long RBLBANK above 668 Target 671.8 Stop below 665 CMP 668
3. EQSIS Intra: Long BANKBARODA above 123 Target 124.4 Stop below 121.9 CMP 122.75
4. EQSIS Intra: Long BAJFINANCE above 2975 Target 2997.5 Stop below 2957 CMP 2972
Top Stocks To Watch On Thursday 28 March 2019
DABUR slipped by 3.26% and closed at Rs.411.25. Trading volume rose by 119 percent at last session. Moreover 64% of the trades are deliverable volume. It is heading for bearish trend. Derivative traders were aggressive in adding short positions. Open interest gained by 6.21 %. It is trading below its recent support zone. The Near term resistance is seen around 448.
INDUSINDBK surged by 5.23% and to close at Rs.1804.25. It is the most active stock. It is likely to witness positive breakout. Derivative traders were aggressive in exiting short positions. Open interest reduced by 7.76 %. This stock is currently settled above the recent resistance zone. We see short term support around 1473.
STAR strengthen by 3.1% and finished at Rs. 459.65. Trading volume increased by 188 percent at last session. There is an evidence of positive breakout. The aggressive nature of buyers is acknowledged by the unfilled gap.This stock is currently settled above the recent resistance zone. We see short term support around 416.
ICICIPRULI surged by 9.04% and closed at Rs.349.2. . It did rise in the last trading session, but fell by a significant margin on a weekly basis. Trading volume increased by 686 percent on 27 March 2019. The intensity of the buyers is evident from the opening gap.It is oscillating nearer to its resistance zone of 351.
YESBANK surged by 5.81% and settled at Rs.268.45. Trading volume increased by 176 percent on 27 March 2019. It is likely to witness positive breakout. The strength of the buyers is visible through the todays gap.This stock is currently settled above the recent resistance zone. We see short term support around 225.
CHOLAFIN strengthen by 3.34% and settled at Rs.1428.35. Trading volume hiked by 181 percent on Wednesday. It gives an impression of bullish trend formation. This stock is currently settled above the recent resistance zone. We see short term support around 1213.
PAGEIND volume hiked by 90 percent at last session. It gives an impression of aggressive sellingThe technical indicator RSI signals overbought scenario.This stock is currently settled above the recent resistance zone. We see short term support around 22024.
BAJFINANCE volume increased by 71 percent on Wednesday. But most of the trades are settled intraday. It gives an impression of bearish reversalThis stock is currently settled above the recent resistance zone. We see short term support around 2627.
RELCAPITAL volume inflated by 106 percent at last trading day. But largely the volumes are intraday in nature. It suggest for aggressive sellingThis stock is currently settled above the recent resistance zone. We see short term support around 164.
UBL witnessed Star pattern on daily chart. UBL volume hiked by 237 percent on 27 March 2019. Yet most of the trades are settled intraday. It is trading inside the trading range. The Support is seen around 1318 and resistance is seen around 1410.
Closing Bell: Nifty fails to hold 11,500 mark; pharma & auto stock cracks
The Nifty 50 index fell 38 points to settle at 11,445 on Wednesday. Domestic equity key index Nifty ended below 11,500 mark after the Volatility struck bourses in mid-afternoon trade which pulled the key index to day’s low in late trade. Among the sectors, auto, FMCG, realty, and pharma remained under pressure, while some buying seen in the banking and media sectors.
Nifty50 Advances & Declines
Market Update: Nifty holds 11,500 mark; Bank, Media stocks gain
The NSE Nifty were trading 48 points higher at 10,784 on Wednesday’s afternoon session, with Nifty hovering around 11,500 mark led by gains in banking, media and metal stocks were capped by losses in the pharma and auto stocks.
Morning Update: Nifty Reclaims 11,500 Mark in Early Trade; Financial Top Boost
The broader NSE Nifty50 was ruling at 11,529, adding 45 points on Wednesday. Domestic equity key index Nifty extended yesterday’s gains paced by a rally in banking and media stocks with Nifty reclaiming 11,500 levels, following positive global cues. On NSE, except for Nifty Realty, all other sub-indices were trading in green with Nifty PSU Bank leading the pack, up 1.6 percent.
Bank Nifty hits all-time high and now trading above 30,000 mark led by gains in Axis Bank, Yes Bank, IndusInd Bank and State Bank of India.
The market breadth, indicating the overall health of the market, was strong. On NSE, 1061 shares rose and 537 shares fell. A total of 95 shares were unchanged.
FII & DII Deets
On a net basis, foreign portfolio investors (FIIs) sold shares worth a net of Rs 660.52 crore on Monday, and domestic institutional investors (DIIs) were net sellers to the tune of Rs 196.70 crore.
Top News Of The Day
Wockhardt To Raise Money
- Wockhardt has approached global private equity funds such as KKR and Bain Capital to garner about $300 million and lower debt on the balance sheet.
Blackrock Buys RBL Bank
- BlackRock group, the world’s largest asset manager with $5.97-trillion under management, has bought an undisclosed stake in RBL Bank from private equity fund Gaja Capital in block deals.
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