![]() Shares of Team Lease Service, V Mart Retail, and Orient Electric witnessed strong selling pressure and hit their 52-week lows, signaling bearish sentiment on the counters. Shares of Rail Vikas Nigam, Engineers India, Chola Investment & Finance, TVS Motors, MRF, and Cola Financial Holdings witnessed strong buying interest from market participants as they scaled their fresh 52-week highs, signaling bullish sentiment. Tata Steel (Shares traded: 3.3 crore), HDFC Bank (Shares traded: 3.1 crore), ICICI Bank (Shares traded: 1.9 crore), SBI (Shares traded: 1.8 crore) Axis Bank (Shares traded: 1.4 crore) ITC (Shares traded: 1.2 crore) and HDFC (Shares traded: 88 lakh) were among the most traded stocks in the session on NSE. Higher activity on a counter in value terms can help identify the counters with the highest trading turnovers in the day. HDFC Bank (Rs 5,148 crore), HDFC (Rs 2,405 crore), ICICI Bank (Rs 1,773 crore), Axis Bank (Rs 1,254 crore), Adani Enterprises (Rs 1,185 crore), SBI (Rs 1,059 crore) and RIL (Rs 988 crore) were among the most active stocks on NSE in value terms. A bearish crossover on the MACD on these counters indicated that they had just begun their downward journey. The MACD showed bearish signs on the counters of DLF, CCL Products, ONGC, Adani Wilmar, BLS International Services, and IFB Industries, among others. When the MACD crosses above the signal line, it gives a bullish signal, indicating that the price of the security may see an upward movement and vice versa. The MACD is known for signaling trend reversals in traded securities or indices. Momentum indicator Moving Average Convergence Divergence ( MACD) showed a bullish trade setup on the counters of Brightcom Group, Tube Investment, AmaraRaja Batteries, Archean Chemicals Industries, and Muthoot Finance, among others. Now, Nifty has to cross and hold above 18081 zones to witness a bounce towards 1810 zones, while on the downside, supports are placed at 1807 marks, said Chandan Taparia of Motilal Oswal. The weekly chart resembled a shooting star pattern which has bearish implications. ![]() Tech View: Nifty forms a long bear candleĪs Nifty ended Friday’s session with a 1% loss, a bearish candle was formed with a long upper shadow on the daily chart. ![]() The broad-based S&P 500 climbed 1.9% to 4,136, while the tech-rich Nasdaq Composite Index jumped 2.3% to 12,235. The Dow Jones Industrial Average advanced 1.7% to 33,674. Wall Street stocks rallied Friday, snapping a four-day losing streak after strong US jobs data and a rebound in regional banking shares. That said, here’s a look at what some key indicators are suggesting for Monday's action: In case of price-wise correction, 17820- 17700 would be the range to do some bottom fishing." This correction should form a higher bottom on the positional charts, and once such signs are seen it would be prudent to enter longs again. Ruchit Jain, Lead Research at said, "Short-term traders should remain light on positions and watch out for next base formation. Above the same, the market could move up till 18,300-18,350," Amol Athawale, Technical Analyst (DVP) at Kotak Securities, said. On the flip side, a fresh uptrend rally is possible only after the dismissal of 18,200. On further correction, the index could slip till 17800. "For traders, 18,200 would be the key resistance zone below which the market could retest the level of 17,900.
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