Shares of Lupin witnessed selling pressure after the release of Q3 FY 2018 results. The Company’s revenue and net profits decreased 11.3% and 51.3% y/y. Post announcement of the results, the stock slumped 5.7%, marking a 52-week low. The stock’s persistent weakness is attributed to its weakning fundamental profile.
Today’s Action:
Benchmark indices had a yet another plummeting trading session as they headed deep in the south. Indian market enters into under pressure.
Daily Market Review:
There seemed to be no respite for the Indian markets as the global turmoil continued to drag the indices. After the Dow Jones crashed yesterday by over 4%, major global indices posted some hefty losses today. Continue reading “Daily Big Picture – Key Indices Break 50-DMA; Nifty Moves to Under Pressure”
Radico Khaitan managed to attract buying interest in today’s session. After seven straight down sessions, the stock jumped 9% on above-average volume. The stock found support above its 50-day line.
Today’s Action:
Key indices extend losing streak to five sessions; smallcap and midcap benchmarks outperform.
Daily Market Review:
Benchmark indices continued to post losses however late hour trade helped in some recovery. Broader indices outperformed the frontline indices, with the Nifty Smallcap index closing in green for the first time in eight sessions. Continue reading “Daily Big Picture – Weak Global Cues Drag Nifty Below 10,700”
“You buy stocks on the way up in price, not on the way down. And when you buy more, you do it after the stock has risen from your purchase price, not after it’s fallen below it.” – William J. O’Neil, MarketSmith Founder
Averaging down in a falling stock is like lending money to your brother-in-law.
Your wife insists and you are left with no choice but to lend him money. Months later he needs more money. You may lend him more, but you surely must feel sad about watching that money going out, knowing you will never see it again. Continue reading “Why You Should Never Average Down in a Losing Stock”
