Despite weakness across the board, Graphite India did well to retake its 50-day line in today’s session. The stock gained 1.9% on above-average volume in today’s session. It is currently trading in a third-stage consolidation base pattern, facing resistance at Rs 906.
Status:
Downtrend
Highlights:
Three up and two down days
Weekly Market Review:
Market bears remained in the driver’s seat, as India’s key indices went downhill for the fourth straight week.
The U.S. Federal Reserve interest rate hike, Facebook’s data scandal, global trade war concerns and the Indian Parliament logjam were more than enough to keep market optimists on the sidelines for the most part of the week. Eventually, the Nifty and the Sensex tumbled 1.9% and 1.8%, respectively. Continue reading “Weekly Big Picture – Trade War Fears Send Nifty Below 10K”
Astec LifeSciences jumped 6% on huge volumes in today’s session. The stock reclaimed its 200-day line after today’s rally. The stock has been moving sideways for more than a year and is trading 16% below its all-time high.
Today’s Action:
Major indices post modest losses in a weak session; broader indices witness heavy selling.
Daily Market Review:
The Indian stock market saw a decelerating trend in the trading session today, after two positive sessions. The Sensex lost 130 points but was able to recover its 33,000 level, while the Nifty lost 40 points and managed to close above the 10,100 mark. Eventually, the Nifty and the Sensex settled at a loss of ~0.4% each.
Domestic markets faced a volatile session on account of global cues, after the U.S. Federal Reserve increased interest rates and proclaimed doing so again at least twice in 2018, and continue hiking interest rates over the forthcoming three-year period. Continue reading “Daily Big Picture – Key Indices Trend Southward Amid Fed Rate Hike”
After falling 13% on Monday, TV Today shifted its gears and sprinted 15.6% on nine times the 50-day average volume. The stock is trading 31% above its pivot price of Rs 414. The Company’s board had recently approved the sale of its radio business to Entertainment India.
