Indian Market Roundup

NIFTY leap towards new closing high for the 2nd consecutive day amid strong Global markets. The 50-share NSE index NIFTY rose 0.61% on a record-setting run to finish at record closing high of 10623.60 on Monday. NIFTY traded in the 10600 mark for the most part of the day scaling new highs for the second consecutive day as investors’ sentiment remained upbeat over corporate results and on continuous foreign fund inflows.

Looking overseas, European markets trading firmly higher gaining advantage from the Asian markets which closed broadly higher on the back of broader worldwide equity markets which heading towards fresh historic highs.

Ten out of eleven ended higher led by NIFTY MEDIA, NIFTY IT and NIFTY PHARMA as top gainers while NIFTY PSU BANK edged lower as the only loser in today’s trade.

From the NIFTY 50 basket of shares, COALINDIA, LUPIN, INFY, SUNPHARMA and IBULHSGFIN topped the table as top gainers while BHARTIARTL and ONGC are the top losers.

Most favored stocks to watch on Tuesday.

BHARTIARTL: This stock dropped 4.38% to close at 516.35 with 102% the increased trading volume. Though numerous trades are intraday this stock likely to witness bearish trend formation. This stock resistance zone is around Rs.564 and the support zone is around Rs.477.

COALINDIA: This stock is consistently advancing for past 6 days and registered a significant margin. This stock is likely to witness further bullish rally as it surged 3.12% to settle at Rs.287.45 on Monday.  This stock resistance zone is around Rs.295 and the support zone is around Rs.261.

NMDC: This stock is settled above the recent resistance zone at Rs.161.85. This stock is consistently advancing for past 6 days and registered 15% change. This stock is likely to witness further bullish rally as it surged 2.08% on Monday. This stock support zone is around Rs.134.

ICICIPRULI: This stock is consistently advancing for past 4 days and registered a significant margin. This stock is likely to witness further bullish rally as it surged 4.48% to settle at Rs.411.80 on Monday.  This stock trading volume inflated 161% suggesting for the bullish rally.

IDEA: This stock plunged 5.83% to close at Rs.109.05 on Monday. This stock is likely to witness the selling pressure as this stock technical indicator RSI signals the overbought scenario. This stock resistance zone is around Rs.124 and the support zone is around Rs.89.

CADHILACL: This stock price and volumes are consistently rising for past 3 days. This stock rallied 2.68% to close at Rs.452.00 with 136% the increased trading volume on Monday. Though numerous trades are intraday this stock likely to witness bullish trend formation.

LUPIN: This stock surged 2.57% to close at Rs.923.30 in last trading session. The momentum of bulls witnessed through the gap appeared in the daily chart indicating for the bullish trend formation. This stock resistance zone is around Rs.1090 and the support zone is around Rs.806.