Nifty little changed after a day of volatile trade
How well the EQSIS recommendations performed today 28 May?
1. EQSIS Intra: Long TVSMOTOR above 501 Target 506 Stop below 497 CMP 499.5
2. EQSIS Intra: Short LT below 1565 Target 1546.3 Stop above 1580 CMP 1571
3. EQSIS Intra: Long INFY above 720.1 Target 726.6 Stop below 714.9 CMP 718
Status: Not Initiated
Top Stocks To Watch On Wednesday 29 May 2019
MOTHERSUMI Increase by 2.58% and ended at Rs.119.15. . It did rise in the last trading session, but fell by a significant margin on a weekly basis. Trading volume increased by 186 percent at last trading day. Currently it is trading around the lower range of its price band. The crucial support zone is around 114.
DHFL dipped by 3.65% and closed at Rs.114.8. Meantime it registered a considerable fall in last five session. It is one among the top traded stocks. However majority of them are settled intraday. Currently it is trading around the lower range of its price band. The crucial support zone is around 106.
UNIONBANK Increase by 2.65% and settled at Rs.79.45. Derivative traders were aggressive in exiting short positions. Open interest reduced by 8.23 %. It is continuously rising for 3 days. It is trading inside the trading range. The Support is seen around 69 and resistance is seen around 87.
BPCL witnessed Star pattern on daily chart. BPCL volume spiked by 185 percent. Interestingly 67% of the trades gone for delivery. It suggest for aggressive sellingThis stock is currently settled above the recent resistance zone. We see short term support around 353.
HCLTECH witnessed Star pattern on daily chart. HCLTECH volume increased by 240 percent at last session. Noticeably 81% 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 1052.
CADILAHC volume inflated by 544 percent. Surprisingly 74% of the trades are taken for delivery. 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 244.
CESC declined by 2.91% and settled at Rs.726.35. It witnessed Bearish Engulfing pattern on daily chart. Derivative traders were aggressive in adding short positions. Open interest surged by 17.06 %. It is oscillating nearer to its resistance zone of 742.
COALINDIA Increase by 2.7% and closed at Rs.250.7. Trading volume inflated by 199 percent on 28 May 2019. Noticeably 63% of the trades are taken for delivery. It is regularly rising for 5 days. It is oscillating nearer to its resistance zone of 256.
LT is the most active stock. Moreover 58% of the trades are deliverable volume. The technical indicator RSI indicates overbought scenario.This stock is currently settled above the recent resistance zone. We see short term support around 1311.
NESTLEIND volume increased by 132 percent on Tuesday. Surprisingly 76% of the trades gone for delivery. There could be bullish breakout. This stock is currently settled above the recent resistance zone. We see short term support around 10186.
RBLBANK witnessed Star pattern on daily chart. RBLBANK volume increased by 160 percent at last trading day. There could be selling pressureThis stock is currently settled above the recent resistance zone. We see short term support around 636.
BSOFT surged by 5.16% and finished at Rs. 96.85. Trading volume hiked by 150 percent on Tuesday. There could be bullish trend formation. This stock is currently settled above the recent resistance zone. We see short term support around 81.
Closing Bell: Nifty little changed after a day of volatile trade
The benchmark index Nifty50 ended just 4 points higher at 11,928 levels. Domestic equity index nifty rose for third day in a row, led by gains in index heavyweights like Infosys, Reliance Industries, TCS, and HDFC Bank stock.
Seven out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty Media Index’s 1.9 percent gain followed by IT and Metal index. On the flipside, the NSE Nifty Auto Index was the top sectoral loser, down 0.76 percent.
Nifty Top Gainers/Losers
Market Update: Nifty at day’s low; Banking stock drop
The NSE Nifty slipped 32 points to 11,891 levels. Equity benchmark index nifty were trading lower in the afternoon session on Tuesday as selling pressure was witnessed in banking stocks. The Nifty50 top laggards were Infratel, Hero MotoCorp, Grasim, HDFC, LT, Kotak Bank, Bajaj Finance and ICICI Bank. However, the positive pack was led by Zeel, Yes Bank, JSW Steel, Hindalco, Infosys, Reliance and TCS.
Morning Update: Nifty around 10,900 mark; Finance stocks top drag
Benchmark equity index Nifty were trading tepid note in the morning session, amid some selling pressure in banking stocks. The Nifty 50 Index were trading 7 points lower at 11,918 While Nifty above its key level 11,900. All sectoral indices are giving mixed trends, with gains visible among IT, media and metal sectors, while banking sectors are showing minor signs of pressure.
Top Nifty gainers include Yes Bank, Hindalco, JSW Steel, Coal India, TCS, Vedanta and Infosys rising up to 4.43 percent. While, Infratel, HDFC, LT, Hero MotoCorp, SBI, HUL, Kotak Bank, M&M, Titan and Bajaj finance fell up to 3.81 percent.
The market breadth was little bit in narrow range about 899 stocks advanced and 632 shares declined on National Stock Exchange.
On the currency front, the rupee depreciated 21 paise to 69.72 against the US dollar.
FII & DII data
Foreign Institutional Investors (FIIs) bought shares worth Rs 391.98 crore while Domestic Institutional Investors (DIIs) sold Rs 327.86 crore worth of shares in the Indian equity market on 27th May.
Nifty Earnings To Watch
- Sun Pharmaceutical Industries
- Aurobindo Pharma
- Punjab National Bank
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