Top 7 Stock Market Updates for 05 May 2017
1. TATAMOTORS dropped by 2.26% and ended at Rs.436.5. It is one among the most active stock. It suggest for Derivative traders were aggressive in adding short positions. Open interest gained by 8.67 %. It is steadily breaking low for 3 days with lower top. Currently it is shy away from its crucial support zone.
2. ICICIBANK surged by 9.18% and settled at Rs.297.8. Trading volume inflated by 681 percent on Thursday. It suggest for positive breakout. The open gap can be termed as breakout gap. Hence it can provide adequate support for bulls.
3. VEDL slipped by 3.17% and ended at Rs.232.5. It is one among the top traded stocks. Derivative traders were aggressive in adding short positions. Open interest surged by 3.85 %. Currently it is trading around the lower range of its price band. The crucial support zone is around 228.
4. IBULHSGFIN sketched long legged doji on daily chart. The 62% of the trades are deliverable volume. It may face short term resistance at current levels.
5. ADANIPORTS gained by 3.66% and closed at Rs.339.45. Derivative traders were aggressive in exiting short positions. Open interest reduced by 10.55 %. It is trading inside the trading range. The Support is seen around 318 and resistance is seen around 357.
6. DABUR trading volume spiked by 98 percent on 4 May 2017. Interestingly 80% of the trades were taken for delivery. It is steadily breaking low for 6 days. It found support at its previous bottom, hence it can recover it losses in coming days.
7. BHARATFORG slipped by 3.08% and ended at Rs.1116.35. Derivative traders were aggressive in adding short positions. Open interest surged by 16.83 %. It is oscillating nearer to its resistance zone of 1160.