Nifty halts 3-day rally, ends below 11,900
How well the EQSIS recommendations performed today 29 May?
1. EQSIS Intra: Short MARUTI below 6950 Target 6875 Stop above 7010 CMP 6970
2. EQSIS Intra: Long WIPRO above 288 Target 290.8 Stop below 285.75 CMP 287.5
Top Stocks To Watch On May 30,2019
AUROPHARMA climbed by 1.79% and to close at Rs.686.75. Trading volume hiked by 68 percent on Wednesday. Yet majority of them are settled intraday. The firmness of the sellers is acknowledged by the unfilled gap.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 659.
NESTLEIND volume inflated by 97 percent at last session. Noticeably 63% of the trades are taken for delivery. It is likely to witness positive breakout. It is continuously advancing for 3 days. This stock is currently settled above the recent resistance zone. We see short term support around 10186.
NMDC volume hiked by 417 percent on 29 May 2019. It signals aggressive sellingThe strength of the sellers is indicated by the unfilled gap.It is steadily climbing for 3 days. This stock is currently settled above the recent resistance zone. We see short term support around 91.
SUNPHARMA Increase by 2.68% and closed at Rs.423.8. Trading volume rose by 267 percent at last session. Yet majority of them are intraday trades. It is trading inside the trading range. The Support is seen around 386 and resistance is seen around 459.
PFC Increase by 2.67% and ended at Rs.121.05. Trading volume hiked by 492 percent at last trading day. It suggest for positive breakout. This stock is currently settled above the recent resistance zone. We see short term support around 105.
TATAELXSI witnessed Star pattern on daily chart. TATAELXSI volume rose by 128 percent. Yet majority of them are intraday trades. It is continuously rising for 3 days. It is oscillating nearer to its resistance zone of 909.
INFRATEL advanced by 2.49% and ended at Rs.275.7. Trading volume rose by 89 percent at last session. The technical indicator RSI indicates oversold scenario.It is oscillating nearer to its resistance zone of 282.
NIITTECH rose by 1.38% and closed at Rs.1285.05. Trading volume rose by 166 percent at last session. Impressively 59% of the trades are deliverable volume. It is oscillating nearer to its resistance zone of 1302.
HAVELLS volume inflated by 230 percent at last session. But most of the trades are intraday in nature. Currently it is trading around the lower range of its price band. The crucial support zone is around 718.
HEXAWARE witnessed Star pattern on daily chart. HEXAWARE volume increased by 145 percent. But most of the trades are settled intraday. It is oscillating nearer to its resistance zone of 363.
Closing Bell: Nifty halts 3-day rally, ends below 11,900
Snapping its three-day rising streak, the NSE Nifty dropped 67 points to settle at 11,861 levels on Wednesday led by losses in ICICI Bank, State Bank of India, Reliance Industries, Larsen & Toubro and Maruti Suzuki stocks amid weak global cues. Investors also remained cautious ahead of May F&O expiry and Q4 GDP data due later this week.
Among the sectors, except IT all other indices were ended in the red led by PSU Bank, realty, auto, metal, FMCG and pharma.
Nifty Top Gainers/Losers
Market Update: Nifty extends losses dragged by banking & metal shares
The broader Nifty50 index slipped 45 points, to hover around 11,885 levels. Nifty extended losses in the afternoon trade on Wednesday, dragged mainly by the PSU bank and Metal index.
IT index is trading 1 percent higher. The top gainers are HCL Tech, Tata Elxsi, Wipro, TCS, Tech Mahindra, Infosys and Mindtree.
On the other hand, PSU Bank stocks are trading weak led by Panjab National Bank, State Bank of India and Bank of Baroda.
Morning Update: Nifty trade lower ahead of May F&O expiry
The broader NSE Nifty slipped 20 points to 11,905 on Wednesday. Domestic equity index nifty were trading lower in the morning session ahead of May F&O expiry as investors await Q4 GDP data due to be released on Friday. Losses in banking, media and auto stocks dragged the markets lower, however gains in information technology and FMCG shares kept the downside in check.
The market breadth, indicating the overall health of the market, was negative. On NSE, 629 shares rose and 913 shares fell. A total of 93 shares were unchanged.
On the currency front, the rupee depreciated 14 paise to 69.83 against the US dollar.
FII & DII data
Foreign Institutional Investors (FIIs) bought shares worth Rs 2933.82 crore while Domestic Institutional Investors (DIIs) bought Rs 269.22 crore worth of shares in the Indian equity market on 28th May.
Nifty Earnings To Watch
- Power Grid Corporation of India
- Mahindra & Mahindra
- Adani Enterprises
- Havells India
- Glenmark Pharamaceuticals
- United Spirits
- Bharat Electrnics
- Cadila Healthcare
Earnings Reaction To Watch
- Total revenue grew to Rs 7445 crores in Q4 FY19, an increase from Rs 7279 crores in Q4 FY18.
- Net profit after tax to Rs 723 crores in Q4 FY19, a decrease from Rs 1585 crores in Q4 FY18.
- Earnings per share to Rs 2.6 in Q4 FY19, a decrease from Rs 5.6 in Q4 FY18.
- Total revenue grew to Rs 14725 crores in Q4 FY19, an increase from Rs 12945 crores in Q4 FY18.
- Net profit after tax to Rs -4749 crores in Q4 FY19, an increase from Rs -13416 crores in Q4 FY18.
- Earnings per share to Rs -12 in Q4 FY19, an increase from Rs -54 in Q4 FY18.
Top News Of The Day
Slowdown In Indian Economy
- India’s economic growth is likely to have slipped below 7% in FY19, the lowest in the past five years, because of a disappointing fourth quarter.
Government Issues Lookout Notice
- Government is looking to tighten the noose around companies and promoters suspected of financial irregularities. Ministry of Home Affairs has issued a lookout notice against the promoters of Dewan Housing Financial.
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