L&T Technology Services rallied to a new high, as the stock advanced 8.57% today. The stock brokeout from its base last month and its trading at 27% above its pivot. The Company has a strong fundamental as its revenue and earnings over the last three years have grown at an average of 23% and 38%, respectively.
Status: Confirmed Uptrend
One up day, Four down days
Weekly Market Review:
Indian Market witnessed some heavy distribution this week, as the Nifty and the Sensex are trading 3% below their all-time high. The Nifty has breached its 50-DMA, and it is trading marginally above its key support level of 10,120. The sell-off in the market could be attributed to Korean tensions, F&O expiry, and the September Quarter GDP data, which was announced yesterday. Continue reading “Weekly Big Picture – Bears Take Over Control; Nifty Tests 10,150”