Weekly stock market roundup

NIFTY ended the week bleeding red as Bears aren’t ready to give up. The 50-share NSE index NIFTY plunged 1.15% to settle at 10454.95 on Friday. The Wider NIFTY fell for second straight week posting their biggest weekly drop since August after boarding on a record-hitting streak in January. This week investor’s sentiment is dampened mostly by the sell-off in Global equity markets, concerns over Long-term capital gain (LTCG) tax and continuous outflow of foreign funds.

Looking overseas, European markets trading broadly lower mirroring Asian markets which finished sharply lower on Friday. The worldwide equity markets resumed its widespread sell-off as concerns over higher interest rates continue to dwell on investors’ minds.

Nine out of eleven sector gauges compiled by the NSE ended lower led by NIFTY BANK, NIFTY FIN SERVICE, NIFTY AUTO, NIFTY MEDIA and NIFTY IT as top losers. On the other side, NIFTY METAL and NIFTY REALTY are the only gainers.

From the NIFTY 50 basket of shares, YESBANK, AUROPHARMA, TECHM, SBIN, INFY, HDFC, IBULHSGFIN, INFRATEL, and ICICIBANK underperformed as top losers while HCLTECH, CIPLA, TATASTEEL, LUPIN, and ASIANPAINT are top gainers.

Top stocks to watch on Monday Feb 12

TORNTPHARM: This stock gained by 3.87% and settled at Rs.1434.35 on Friday. This stock volume hiked by 60% with a majority of intraday trades.  This stock secured a remarkable percent in last five sessions and it is currently oscillating nearer to its resistance zone at Rs.1464.

TORNTPOWER: This stock surged by 4.27% and settled at Rs.268.5 at last trading session. This stock is currently is trading inside the trading range. This stock support zone is around Rs.244 and this stock resistance zone is around Rs.304.

STAR: This stock gained by 3.89% and finished at Rs. 739.75 at last trading session. This stock volume hiked by 81% with a majority of intraday trades. This stock is currently is trading inside the trading range and support & resistance zone is around Rs.681 and Rs.289 respectively.

SAIL: This stock surged by 9.24% and closed at Rs.93.95 at last trading session. This stock volume hiked 2.5 times with the majority of intraday trades. This stock is continuously climbing for 3 days and it is currently oscillating nearer to its resistance zone at Rs.100.

PTC: This stock increased by 2.86% and finished at Rs. 99.05 at last trading session. This stock technical indicator RSI indicates oversold scenario signaling for short-term buying pressure. This stock is currently it is trading around the lower range of its price band and the crucial support zone is around Rs.93.

GLENMARK: This stock plunged by 7.66% and closed at Rs.535.2at last trading session. The momentum of the bears is evident from the today’s gap appeared in the daily chart with 5 times the increased trading volume. This stock is currently trading below its recent support zone and the near term resistance is seen around Rs.641.

CEATLTD: This stock volume hiked 38% with a majority of intraday trades at last trading day. This stock technical indicator RSI indicates oversold scenario signaling for short-term buying pressure. This stock is currently it is trading around the lower range of its price band and the crucial support zone is around Rs.1532.

BHARATFORG: This stock volume hiked 2 times with the majority of intraday trades at last trading day. This stock is steadily heading higher levels for 3 days and it is currently settled above the recent resistance zone and the short term support is around Rs.685.

AUROPHARMA: This stock volume hiked by 113% with numerous intraday at last trading day. The momentum of the bears is evident from the today’s gap appeared in the daily chart. This stock is currently trading below its recent support zone and the near term resistance is seen around Rs.672.

ADANIPOWER: This stock strengthened by 3.05% and closed at Rs.33.8 at last trading day. This stock technical indicator RSI indicates oversold scenario signaling for short-term buying pressure. This stock did rise in the last trading session but fell by a significant margin on a weekly basis. This stock is currently it is trading around the lower range of its price band and the crucial support zone is around Rs.31.