Shakti Pumps hit a new high in today’s trade, as it jumped 6.7% amid massive buying interest. The stock broke out of a 21-week long consolidation base pattern on the back of a very strong Q3. The Company reported a 42% jump in revenues, while net profit rocketed by a whopping 306%.
Key composites make fresh highs ahead of budget; Midcap and Smallcap indices face selling pressure.
Daily Market Review:
Benchmark indices began the week with fresh zeal as both the Nifty and the Sensex hit new highs in today’s session. The 2018 Economic Survey report boosted investor sentiment, as the survey predicted a 7-7.5% economic growth rate in FY 2019. The upcoming financial year is expected to reap the benefits of GST and demonetization. However, rising crude prices remain a concern and could be a major hindrance to growth with inflationary risk on cards. Continue reading “Daily Big Picture – Nifty, Sensex Make Merry; Broader Indices Feel the Heat”
You’ve likely seen or heard numerous talking heads and market experts say the current bull market, now in Year Tenth, is extra-long in the tooth. That’s true because we have not seen a major crash of more than 30% since the 2008 market top.
William O’Neil, author of the growth investing classic “How to Make Money in Stocks“, has frequently noted that the typical market rally lasts three to four years, while a sharp correction runs for about nine months, possibly a bit longer. Continue reading “How Do You Spot A Major Stock Market Top? Here’s The Easy Way”
L&T Technology Services clocked a weekly gain of 36% on the back of strong Q3 numbers. The Company reported 20% revenue growth, while net profit rose by 17%. The stock had broken out of a cup base pattern in November 2017 and has advanced 44% from its pivot price of INR 931 since then.
Action Construction Equipment marched to a new high with a 7.5% gain today. The stock witnessed solid buying interest today, driven by strong growth reported in Q3 FY 2017. The Company posted a revenue growth of 11%, while EPS jumped higher by 49%.