After gaining 24% last week, EIH continued to witness heavy accumulation. Despite a heavy sell-off in the small and mid-cap indices, EIH jumped to a new high, as it rallied 12% on more than six times the 50-day average volume.
Daily Big Picture – Midcap and Smallcap Stocks Observe Heavy Sell Off
Today’s Action:
Market continues to keep investors guessing about its trend.
Daily Market Review:
Today, we observed a very gruelling session for the midcap (-1.84%) and smallcap (-2.48%) indices as both witnessed heavy sell off as they were trading in overbought zone. The Nifty and the Sensex lost 0.38% and 0.21% respectively. The market seems to perceive that the broader indices are fundamentally too expensive, and therefore a mild correction cannot be denied. However, a small correction like this is a health signal for a long bull run. Continue reading “Daily Big Picture – Midcap and Smallcap Stocks Observe Heavy Sell Off”
How the Base-On-Base Chart Pattern Etches Superb Stock Gains
What is a Base-On-Base Pattern?
Was Rahul Dravid a better captain than Sourav Ganguly? What about the other Rahul – Can he become India’s Prime Minister one day? And can base-on-base patterns produce a superb breakout?
People might disagree on the first two questions. As for the third, the answer is an indisputable “yes.” Continue reading “How the Base-On-Base Chart Pattern Etches Superb Stock Gains”
Chart Of The Day – Muthoot Capital Investors Jump for Joy
Muthoot Capital investors had a lot to cheer about as the stock hit the 20% upper circuit in today’s session. The stock’s rally came on the back of an impressive quarterly result. Muthoot Capital Services reported a huge 50% increase in revenues, while its EPS galloped by a whopping 121%. The Company’s strong show was driven by a low base effect.
Daily Big Picture – Sensex Inches Towards 35K; Nifty Crosses 10,700
Today’s Action:
Market scales to new highs.
Daily Market Review:
Indian market started the week with a great show, after the IIP (Index of Industrial Production) data released late on Friday amused the investors. The IIP data for November was announced at 8.4%, thus beating the street estimates. The morning zeal, however, faded as both the indices trimmed their early gains after touching all-time highs. The market seems to be volatile before the budget and due to the ongoing earnings season; it is more of a traders market off late. Continue reading “Daily Big Picture – Sensex Inches Towards 35K; Nifty Crosses 10,700”