Today, Atul Limited surged more than 4% hits a record high. The stock breaks out from a 4-week long flat base on above-average volume. The stock is currently trading 4% above its pivot level of INR 2,644.
Daily Big Picture – Benchmark Indices Touched Fresh Highs
Today’s Action:
Key indices touched new highs today morning, but the late hour trade dragged the indices off day’s high.
Daily Market Review:
Benchmark indices made an intraday all-time high, today. However, it erased all its gains as the day progressed. Broader Indices outperformed the key indices. Continue reading “Daily Big Picture – Benchmark Indices Touched Fresh Highs”
Is it a good idea to invest in a stock that went down rather than up?
With all respect to Quorans who answered yes, I would say no.
A stock could move up or down based on fundamental factors, technical reasons and overall market sentiment. Now going by your question, I assume you would want to buy a good company if its stock price has fallen. It means you have done some fundamental analysis and arrived at the conclusion that the company in question is fundamentally strong.
That’s great. But, what if Mr. Market thinks that the stock is overvalued? The stock might remain sideways for the next few months and in that scenario, you would end up falling into a value trap. Continue reading “Is it a good idea to invest in a stock that went down rather than up?”
Chart Of The Day – Kec International Charges Up On Strong Volume
Kec International continues its stellar run as the stock surged 7.07% on two times of average volume. The stock has gained 164% since the beginning of this year. The stock broke out last month from the double bottom base and it’s currently trading at 15% above from its pivot level of INR 321.50.
Daily Big Picture – Nifty Drops One Distribution Day To Close Above 10,400 Mark
Today’s Action:
Both the indices hold their morning gains today to inch closer to their all time highs.
Daily Market Review:
Markets embraced BJP win state election with both arms; as both the indices are trading marginally below their all-time high, broader indices came back on winning streak, and auto sector rallied after government decided to give incentives to boost electric vehicles. Continue reading “Daily Big Picture – Nifty Drops One Distribution Day To Close Above 10,400 Mark”