Weekly stock market roundup

NIFTY takes a breather ahead of long Republic weekend. The 50-share NSE index NIFTY fell 0.15% to settle at 11069.5 snapping six-day winning streak on Thursday. The investor sentiment was majorly driven by under- pressure public sector banking stocks which fell around 5% the most in over five months after government’s move to allocate higher capital to weaker banks. On a weekly basis, NIFTY posted best weekly run in nearly eight years and breached new 11000 levels for the first time ever. As markets will remain shut tomorrow on account of “Republic Day”, for the next upcoming week the investors will adopt a cautious stance and will switch on to wait-and-watch mode ahead of the Union Budget for the fiscal year starting in April to be unveiled on February 1.

Looking overseas, European markets trading mixed while Asian markets finished broadly lower on Thursday. The dollar’s ongoing weakness, a mix of corporate earnings and the trade war concerns has made it hard for worldwide equities to sustain their upbeat start to the year.

Among sector gauges compiled by NSE, NIFTY PVT BANK and NIFTY METAL are the top sectoral gainers while NIFTY PSU BANK, NIFTY REALTY, and NIFTY AUTO are the top sectoral losers.

From the NIFTY 50 basket of shares, IBULHSGFIN, ICICIBANK, ULTRACEMCO, and VEDL outperformed as top gainers while UPL, SBIN, ADANIPORTS, and AUROPHARMA are the top losers.

Top stocks to watch on Monday 29 Jan

NIITTECH: This stock maintained a considerable margin in last five sessions and regularly climbing for 4 days. This stock surged by 6.06% on the back of 5 times the increased trading volume. This stock is currently settled above the recent resistance zone at Rs.914.1.

UPL: This stock witnessed the Bearish Engulfing pattern on the daily chart as it plunged 6.71% to 3 times the inflated trading volume. Derivative traders were aggressive in adding short positions and Open interest gained by 19.73%.This stock is trading around the lower range of its price band and The crucial support zone is around Rs.750

ICICIBANK: This stock advanced by 2.28% and to close at Rs.360.8 at last trading session. This stock is listed in top traded counters and 65% of the trades are taken for delivery. This stock is currently settled above the recent resistance zone and the short term support is around Rs.309.

MARUTI: This stock is the most active stock and it gives an impression of a bearish breakout. Derivative traders were aggressive in adding short positions and the Open interest increased by 15.16%. This stock is trading below its recent support zone and the near term resistance is seen around Rs.9714.

EICHERMOT: This stock witnessed Star pattern on daily chart on the back of 2 times the increased trading volume. This stock is likely to witness bullish rally as 72% of the trades are gone for delivery. This stock is trading below its recent support zone as it is regularly grinding lower levels for 5 days.

CANBK: This stock witnessed the bullish engulfing pattern o daily chart dropping 4.72% at last trading session. Though a majority of them are intraday in nature, this stock trading volume hiked by 169%. This stock is trading inside the trading range and the support & resistance zone is around Rs.341 & Rs.374 respectively.

IBULHSGFIN: This stock maintained an exceptional gain over a recent day and gives an impression of a positive breakout. This stock is the most active stock as it advanced 2.35% and closed at Rs.1394. This stock is currently settled above the recent resistance zone and the short term support is around Rs.1183.

HINDZINC: This stock witnessed Star pattern on the daily chart as it is trading around the lower range of its price band. This stock did rise in the last trading session but fell by a significant margin on a weekly basis. This stock is currently settled at Rs.298.55 and the crucial support zone is around Rs.294

ORIENTBANK: This stock witnessed Bearish Engulfing pattern on the daily chart as it dropped 4.83% on the back of 2.5 times the increased trading volume at last trading session. This stock is currently settled at Rs.123.2 inside the trading range. The Support is seen in Rs.117 and resistance is seen around Rs.128.

TATAMOTORS: This stock is listed in top traded counters and 70% of the trades are deliverable volume. This stock signals bearish trend as it is continuously grinding lower levels for 3 days. This stock is trading below its recent support zone and the near term resistance is seen around Rs.442.

Note: Those who regularly follow our report will know that we regularly speak about Open interest and Delivery volume. If you are not aware of Open interest and Delivery volume just click on the below link where you will find the videos on what is Open interest and what is Delivery volume.

If you are looking for Video on Open interest then visit https://www.youtube.com/watch?v=vDHdMkpB8lg

If you are looking for Video on Delivery volume then visit https://www.youtube.com/watch?v=pkweTrBJxIk

Our YouTube Channel link http://youtube.com/eqsis

Happy Long Republic Weekend!!!