Top 10 Stock Market Updates for 03 May 2017

  1. ONGC volume increased by 184 percent in last trading day. Moreover 56% of the trades gone for delivery. It signals bullish trend formation. The momentum of the bulls is recognized by the opening gap. This stock is currently settled above the recent resistance zone. We see short term support around 179.
  2. LUPIN declined by 2.58% and ended at Rs.1303.8. Derivative traders were aggressive in adding short positions. Open interest increased by 4.07 %. It is trading below its recent support zone.
  3. LICHSGFIN surged by 5.46% and closed at Rs.705.45. It witnessed rally from its unfilled gap. Trading volume spiked by 210 percent on Tuesday. It signals positive breakout. This stock is currently settled above the recent resistance zone. We see short term support around 617.
  4. INDIACEM declined by 2.75% and closed at Rs.210.5. It witnessed Bearish Engulfing pattern on daily chart. However the lower tail is too big hence it has to be approached with cautious note. The technical indicator RSI indicates overbought scenario. It is oscillating nearer to its resistance zone of 222.
  5. IBULHSGFIN surged by 5.47% and ended at Rs.1072.55. Trading volume hiked by 91 percent in last session. Interestingly 59% of the trades were taken for delivery. It suggest for bullish breakout. This stock is currently settled above the recent resistance zone. We see short term support around 929.
  6. HDFC is the most active stock. Surprisingly 78% of the trades were taken for delivery. It is likely to witness bullish trend formation. Derivative traders were aggressive in adding long positions. Open interest surged by 7.54 %. This stock is currently settled above the recent resistance zone. We see short term support around 1462.
  7. CEATLTD surged by 4.57% and finished at Rs. 1595.6. It witnessed Bullish Engulfing pattern on daily chart. It gives an impression of positive breakout. This stock is currently settled above the recent resistance zone. We see short term support around 1316.
  8. CANBK volume increased by 136 percent on 2 May 2017. Yet most of the trades are intraday trades. There could be bullish trend formation. This stock is currently settled above the recent resistance zone. We see short term support around 301.
  9. BANKINDIA dipped by 3.75% and closed at Rs.179.8. It suggests for bearish reversal. The technical indicator RSI signals overbought scenario. This stock is currently settled above the recent resistance zone. We see short term support around 138.
  10. SYNDIBANK witnessed Star pattern on daily chart. SYNDIBANK volume inflated by 167 percent. It indicates selling pressure. This stock is currently settled above the recent resistance zone. We see short term support around 70.
Summary
Top 10 Stock Market Updates for 03 May 2017
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Top 10 Stock Market Updates for 03 May 2017
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ONGC volume increased by 184 percent in last trading day. Moreover 56% of the trades gone for delivery. It signals bullish trend formation
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EQSIS
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