Reliance Communications had an eventful week, as the Company announced a debt reduction plan by selling its spectrum and network assets to Reliance Jio. The stock saw massive buying interest throughout the week, resulting in a whopping 122% gain in just four sessions.
Info Edge marched on to a new high today, amid high-volume buying in the scrip. The stock advanced 6% on more than two times the 50-day average volume. Info Edge broke out of a first-stage cup base pattern in early November 2017. Since then, the stock has gained 11% from its previous pivot price of INR 1,250.
Status: Confirmed Uptrend
Two up and two down days
Weekly Market Review:
The market started the last week of the year on a cheerful note, however midway during the week both the indices lost some momentum which was mainly because the investors were lacking positive triggers and the F&O expiry on Thursday, both the indices made a an all time high on an intraday basis this week. Nifty and the Sensex finally bid farewell to 2017 with an yearly gains of over 28%. Continue reading “Weekly Big Picture – Market Bids Farewell to 2017 With Hefty Gains”
Suprajit Engineering ended 27 weeks of sideways movement, as it broke out of a second-stage consolidation base pattern in today’s session. The stock jumped 5.5% on more than four times the 50-day average volume today. The Company reported impressive numbers in Q2 FY 2017, with revenues and net profit rising by 24% and 21%, y/y, respectively.
India’s key indices started the day flat today, and observed a topsy-turvy trading session due to F&O expiry.
Daily Market Review:
Benchmark indices experienced a volatile trading session today, amidst options expiry. Small cap Indices recoup yesterday’s losses. Continue reading “Daily Big Picture – Nifty Below 10,500 Mark Due To Lack Of Positive Trigger”