Daily Share Market Analysis

NIFTY fell for the fourth straight day amid fears of Global Trade War. The 50-share NSE index NIFTY fell 0.95% to finish at 10358.85 at first trading day of the week. The Indian benchmark index NIFTY ended lower for a fourth consecutive session on Monday near two-week low dragged down by metal stocks. The sentiment at traders and investors’ desk remained weak over broad-based selling pressure on the back of lingering concerns of a global trade war.

Looking overseas, European markets trading broadly lower tracking Asian markets which finished lower on Monday. The global equity markets extended losses on fears of a global trade war after U.S. President Donald Trump pledged to impose hefty tariffs on steel and aluminum imports.

Nine out of eleven sector gauges compiled by the NSE ended lower led by NIFTY METAL, NIFTY AUTO, NIFTY FMCG, NIFTY REALTY and NIFTY MEDIA as top losers. On the other side, NIFTY IT and NIFTY PSU BANK are only gainers.

From the NIFTY 50 basket of shares, TATAMOTORS, HINDALCO, AUROPHARMA, TATASTEEL, RELIANCE, INFRATEL, COALINDIA, BAJAJ-AUTO, and VEDL underperformed as top losers while TECHM, SUNPHARMA, TCS, and NTPC are top gainers.

Top 10 stocks to watch on Tuesday 6 March

TECHM: This stock strength by 3.1% and to close at Rs.630.85 on Monday. This stock trading volume hiked by 58% with a majority of intraday trades. This stock is currently settled above the recent resistance zone and the short term support is around Rs.573.

TATAMOTORS: This stock plunged by 5.04% and to close at Rs.352.05 on Monday. This stock trading volume hiked by 46% with a majority of intraday trades. This stock is currently trading below its recent support zone and the near term resistance is seen around Rs.394.

SAIL: This stock dipped by 3.52% and ended at Rs.78.05 on Monday. This stock trading volume hiked by 86% with a majority of intraday trades. This stock is currently trading below its recent support zone as it secured a remarkable loss on the weekly basis and the near term resistance is seen around Rs.97.

NMDC: This stock plunged by 5.97% and closed at Rs.122.9 on the back of 87% inflated trading volume on Monday. Derivative traders were aggressive in adding short positions and Open interest surged by 7.02 %. This stock is currently trading below its recent support zone and the near term resistance is seen around Rs.141.

MOTHERSUMI: This stock trading volume hiked by 24% with a majority of intraday trades on Monday. Derivative traders were aggressive in adding short positions and Open interest surged by 3.72%. This stock is currently trading below its recent support zone and the near term resistance is seen around Rs.368.

MINDTREE: This stock surged by 5.59% and to close at Rs.859.55 on Monday. This stock trading volume hiked 2 times with the majority of intraday trades. This stock is currently settled above the recent resistance zone as it registered considerable returns over recent days and the short term support is around Rs.681.

JINDALSTEL: This stock plunged by 4.34% and finished at Rs. 238.05 on Monday. This stock trading volume hiked 67% with a majority of intraday trades. This stock is currently settled above the recent support zone as it frequently grinding lower levels for 4 days and the near term resistance is around Rs.277.

HINDALCO: This stock plunged by 4.65% and finished at Rs.229.60 on Monday. The firmness of the bears is indicated by the today’s gap on the back of 29% increased trading volume. This stock is currently settled above the recent support zone and the near term resistance is around Rs.258.

CANBK: This stock slipped by 3.46% and to close at Rs.280.25 on Monday. This stock listed in top traded counters as it secured a considerable weakness on the weekly basis. This stock is currently settled below the recent support zone and the near term resistance is around Rs.333.

AUROPHARMA: This stock dipped by 3.74% and settled at Rs.600.75 on Monday. The aggressive nature of bears is evident from the today’s gap appeared in the daily chart on the back of 2 times the increased trading volume. This stock is currently trading inside the trading range and the support is seen around Rs.568 and resistance is seen around Rs.626.