Weekly share market roundup

NIFTY ended the week bleeding red as Bears have no idea to give up. The 50-share NSE index NIFTY fell 0.15% to finish at 10226.85 at last trading day of the week. The Indian benchmark index NIFTY started in a positive territory but due to the absence of major triggers selloff resumed after taking a day’s breather in the previous session on the back of Metal stocks which came under heavy selling pressure as investors are cautious due to a lack of clarity on the U.S. tariff on steel and aluminium imports. On a weekly basis, the benchmark index posted worst performance due to global trade war concerns, sustained foreign fund outflows and weak global cues which weighed on sentiment.

Looking overseas, European markets trading mixed to higher tracking Asian markets which finished broadly higher on Friday. Worldwide markets steadied on Friday reacting to a shock decision by North Korean leader Kim Jong Un to stop nuclear & missile testing and also to hold talks with U.S. President Donald Trump.

Eight out of eleven sector gauges compiled by the NSE ended lower led by NIFTY PSU BANK, NIFTY METAL, NIFTY PHARMA, NIFTY BANK and NIFTY PVT BANK as top losers. On the flipside, NIFTY IT, NIFTY MEDIA and NIFTY FMCG are only top gainers.

From the NIFTY 50 basket of shares, TATASTEEL, AXISBANK, ADANIPORTS, YESBANK, SUNPHARMA, POWERGRID, POWERGRID and ULTRACEMCO underperformed as top losers while TECHM, BAJFINANCE, TCS, ZEEL, and EICHERMOT are top gainers.

Top stocks to watch on Monday 12 March

TORNTPHARM: This stock volume spiked by 62% to 73% of the trades is gone for delivery on Friday. Derivative traders were aggressive in adding short positions and the Open interest gained by 25.93%. This stock is currently is trading around the lower range of its price band and the crucial support zone is seen around Rs.1308.

TATASTEEL: This stock plunged by 4.58% and settled at Rs.606.75 on Friday. This stock trading volume hiked by 84% with a majority of intraday trades. This stock is currently below its recent support zone as it is grinding lower levels for 3 days and the near term resistance is seen around Rs.712.

SAIL: This stock plunged 6.46% and ended at Rs.69.5 on Friday. This stock trading volume hiked by 41% with a majority of intraday trades. This stock is currently below its recent support zone and the near term resistance is seen around Rs.97.

LICHSGFIN: This stock trading volume hiked by 36% with 58% of the trades is taken for delivery at last trading session. This stock is currently below its recent support zone and the near term resistance is seen around Rs.530.

JUBLFOOD: This stock advanced by 2.48% and finished at Rs. 2060.3 on Friday. This stock trading volume hiked by 88% with the majority of intraday trades. This stock is oscillating nearer to its resistance zone of Rs.2068.

JINDALSTEL: This stock plunged by 5.3% and to close at Rs.222.25 on Friday. This stock is listed in top traded counters with a majority of intraday trades. This stock is trading below its recent support zone and the near term resistance is seen around Rs.277.

CANBK: This stock plunged by 6.25% and to close at Rs.235.45 on Friday. This stock trading volume rose by 57% with a majority of intraday trades. This stock is trading below its recent support zone as it is continuously sliding for5 days and the near term resistance is seen around Rs.329.

BEML: This stock trading volume hiked 1.5 times with numerous volumes is settled intraday at last trading session. This stock is currently below its recent support zone as it is regularly breaking low for 3 days and the near term resistance is seen around Rs.1370.

ASHOKLEY: This stock climbed by 1.98% and finished at Rs. 147 on Friday. This stock trading volume rose by 107% with a majority of intraday trades. This stock is currently settled above the recent resistance zone as it registered a remarkable gain over recent days and the short-term support is seen around Rs.130.

ADANIPORTS: This stock trading volume hiked by 61% with numerous volumes is settled intraday at last trading session. This stock is currently below its recent support zone and the near term resistance is seen around Rs.419.

​ADANIENT: This stock plunged by 7.61% and ended at Rs.156.1 on Friday. This stock trading volume rose by 99% with a majority of intraday trades. This stock is trading below its recent support zone as it is continuously sliding for 3 days and the near term resistance is seen around Rs.220.