In today’s session, Sundram Fasteners shot-up over 8% on more than 3 times the average trading volume. The stock has moved constructively along its 50-DMA in the last one month. It ended just below the pivot level of 539. If the stock takes over this level, it will be an ideal entry point, given its fundamental strength.
MARKET PULSE:
Status: Uptrend Under Pressure
Highlights:
Three up and two down days
Weekly Market Review:
The week defined the volatility in its true sense, as the Bulls and Bears continued their battle, which was ultimately won by the Bulls. Key indices opened positively on Monday, setting a perfect tone for the whole week; however, on Tuesday and Wednesday, the indices observed some heavy sell-off amidst the uncertainty over Gujarat elections. It was on Thursday that the Nifty and the Sensex shifted their gear ahead of exit poll result, which declared BJP as the winners in both Gujarat and Himachal Pradesh. On Friday, the Nifty opened a gap up, which ultimately made the key indices to post gains on the bourses. Continue reading “Weekly Big Picture – Key Indices Sustained Volatility To End The Week With Gains”
For consecutive three sessions, Waterbase is accelerating its rally on strong volumes. Today, the stock observed massive accumulation to hit the upper circuit. As a result, the stock has now gained 133% after breaking out of a cup with handle base pattern on August 10, 2017.
Today’s Action:
Markets displayed some strength, ahead of Gujrat exit polls; and broader indices continue to disappoint.
Daily Market Review:
Key indices reversed their gear in the second half of the trading session today, though the markets opened positively. They could not sustain the morning gains and came down below yesterday’s closing price; however, some heavy buying in the afternoon helped the indices in posting some gain after gruelling for the last two trading days. Continue reading “Daily Big Picture – Bulls Win The See Saw Battle; Broader Indices Remain Subdued”
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