Today’s Action:
Major indices pocket decent gains to close marginally below their 50-day lines
Daily Market Review:
Mirroring strength in the global markets, India’s key indices got off to a strong start, as both the Sensex and Nifty gapped up in today’s session.
Contrary to what has been witnessed in previous few sessions, the benchmark composites did not let up and held onto their gains throughout the day.
Continue reading “Daily Big Picture – Nifty Shifts Gear; Moves Closer to 50-Day Line”
Venky’s India scooped a weekly gain of 14.3% amid strong buying intrest. As a result, the stock broke out of a 13-week long consolidation base pattern to enter new high ground. The stock has strong fundamental and technical characteristics with EPS Rank of 98 and Price Strength of 93.
We Love You and Hope You Love Us Too: Investors to PNB
Punjab National Bank, India’s second largest state-run bank, stunned one and all with an unprecedented exchange filing on February 14, 2018. This is what it conveyed:
“The Bank has detected some fraudulent and unauthorised transactions (messages) in one of its branch in Mumbai for the benefit of a few select account holders with their apparent connivance. Based on these transactions other banks appear to have advanced money to these customers abroad. In the Bank these transactions are contingent in nature and liability arising out of these on the Bank shall be decided based on the law and genuineness of underlying transactions. The quantum of such transactions is USD 1771.69 M (approx). The matter is already referred to law enforcement agencies to examine and book the culprits as per law of the land.” Continue reading “How Smart Investors Dodged the PNB Loot”
Avenue Supermarts zoomed 4.8% in today’s session on the back of strong accumulation. The stock broke out from its long 19-week consolidation base and hit a new high today.
MARKET PULSE:
Uptrend Under Pressure
Highlights:
Three up and two down days
Weekly Market Review:
Bulls and bears came head to head during the expiry week, resulting in a see-saw battle. In the end, the bulls overpowered bears with a strong rally on Friday resulting in a positive closing for the market. Even then the gain was not sufficient enough to reclaim their 50-DMAs. Continue reading “Weekly Big Picture – Bulls Emerge Victorious In See-Saw Battle”
