Top 6 Stock Market Updates for 26 April 2017
1. RELIANCE industries witnessed gap up opening but failed to sustain. It indicates the exhaustive behavior of the current bullish trend. We see the upside limited to 1460 levels and it may correct to 1350 levels.
2. M&M volume hiked by 461 percent on 25 April 2017. Moreover 65% of the trades were taken for delivery. Derivative traders were aggressive in adding long positions. Open interest gained by 24.34 %. This stock may resume its bullish trend and it is evident from its gap with high volume.
3. JISLJALEQS surged by 4.13% and ended at Rs.115.95. Additionally it registered considerable returns in last five sessions. Trading volume increased by 129 percent on Tuesday. It gives an impression of bullish trend formation. This stock is currently settled above the recent resistance zone. We see short term support around 93.
4. GMRINFRA dropped by 2.19% and to close at Rs.17.85. Trading volume rose by 197 percent on 25 April 2017. There could be resistance at current levels. The technical indicator RSI indicates overbought scenario. This stock is currently settled above the recent resistance zone. We see short term support around 15.
5. BIOCON surged by 9.38% and to close at Rs.1165.45. It did rise in the last trading session, but fell by a significant margin on a weekly basis. Trading volume hiked by 1634 percent on 25 April 2017. However majority of them are intraday in nature.
6. BAJFINANCE surged by 5.5% and settled at Rs.1341.7. Trading volume hiked by 229 percent on Tuesday. It suggest for positive breakout. The aggressive nature of buyers is visible through the unfilled gap. This stock is currently settled above the recent resistance zone.