Share market roundup today
NIFTY ended little changed for the 2nd consecutive day amid strong global cues. The 50-share NSE index NIFTY closed flat by gaining 1 point to settle at 10443.20 as of the previous closing price for the second consecutive day. NIFTY 50 failed to sustain its gains in the last hour trade as investors are cautious ahead of upcoming corporate results. In the meantime, FII continued to add short positions in index futures for the second day.
Looking overseas, European markets trading higher on Wednesday tracking strong Asian markets which finished broadly higher today on expectations of an improvement in the global economy.
Among sector gauges compiled by NSE, NIFTY METAL, NIFTY FMCG and NIFTY REALTY drove the market for the most part of the day as top gainers while NIFTY AUTO and NIFTY PHARMA dragged the market as top losers.
From the NIFTY 50 basket of shares, ADANIPORTS surged 2.58% along with LT, ICICIBANK, and HINDALCO as top gainers whereas DRREDDY dropped 2.91% along with WIPRO and ONGC as top losers.
Top stocks in focus on 04-01-2018
OFSS: This stock surged 4.07% to 2.5 times the increased trading volume on Wednesday. This stock gives an impression of a positive breakout as 70% trades of this stock are taken for delivery. This stock is currently settled at Rs.4163.05 above its recent resistance zone.
KPIT: This stock registered a remarkable margin on the weekly basis and it is steadily advancing for 6 days. This stock surged 4.44% to close at Rs.198.6 indicating for the bullish breakout. This stock is currently settled above the recent resistance zone and the short term support is around Rs.158.
ADANIENT: This stock rallied 7.5% to 2.5 times the increased trading volume on Wednesday. Though numerous trades are intraday in nature this stock is heading for bullish trend formation. This stock is currently settled at Rs.176.2 above the recent resistance zone.
BEML: This stock slipped by 3.24% to close at Rs.1523.9 with 169% increased trading volume in today’s trade. This stock is regularly breaking low for 3 days and it is trading inside the trading range. This stock Support is around Rs.1473 and resistance is around Rs.1629.
JINDALSTEL: This stock rallied 7.94% to 3 times the increased trading volume on Wednesday. Though numerous trades are intraday in nature this stock is heading for bullish trend formation. This stock is currently settled at Rs.219.55 above the recent resistance zone.
JUBLFOOD: This stock is frequently advancing for 4 days with 128% the increased trading volume on 2 January 2018. This stock surged by 3.25% to settle above the recent resistance zone at Rs.1850.55 indicating for the positive breakout. The short-term support for this stock is around Rs.1652.
JETAIRWAYS: This stock advanced by 4.71% to finish at Rs.870.6 on Tuesday. Derivative traders were aggressive in adding long positions and Open interest gained by 19.75 % signaling for the bullish rally formation. This stock is currently settled above the recent resistance zone and the short term support is around Rs.658.
ONGC: This stock plunged by 1.73% to close at 193.45 on 3 January 2018. Derivative traders were aggressive in adding short positions and Open interest surged by 3.78 % which justifies the bearish trend formation. Currently, this stock is oscillating nearer to its resistance zone of Rs.197.
NMDC: This stock witnessed Star pattern on daily chart. This stock volume spiked by 179% signaling for the bullish breakout. This stock is continuously climbing for 4 days and currently settled above the recent resistance zone. The short-term support is around Rs.126.
DRREDDY: This declined by 2.91% and finished at Rs. 2339 on Wednesday. The intensity of the sellers is visible through the opening gap and the trading volume increased by 88%.This stock is trading inside the trading range and it is likely to witness the short-term selling pressure. This stock Support is around Rs.2186 and resistance is around Rs.2440.
TATACHEM: This stock gained by 3.53% to end at Rs.755.9. This stock trading volume rose 5 times on Wednesday and the momentum of the bulls is visible through the gap appeared in the daily chart. Though numerous trades were intraday in nature, there could be a positive breakout. This stock is currently settled above the recent resistance zone and the short term support is around Rs.702.