Merck galloped 11.5% to hit a new high on the back of strong Q4 results. The Company’s revenue and EPS grew 25.8% and 53% y/y, respectively. The stock is currently trading 25% above its pivot price of Rs 1,686.80.
Daily Big Picture – Indian Market Charges Ahead; Small Caps Lead Gains
Today’s Action:
Major indices extend their rally; broader market outperformed.
Daily Market Review:
The Indian market started the truncated week on a robust note. Tracking positive Asian cues, the benchmark indices observed a gap up opening in today’s trade, but the market remained range bound for the most part of the day. The Nifty was up 0.4% whereas the Sensex rose 0.6% crossing the psychological mark of 10,700 and 35,000, respectively.
In the broader market, mid caps and small caps outperformed the benchmark indices as they recorded gains of 0.8% and 1.4%, respectively. Continue reading “Daily Big Picture – Indian Market Charges Ahead; Small Caps Lead Gains”
How To Sell Stocks Short: 4 Key Characteristics Of A Head-And-Shoulders Pattern
On the long side of investing, you must get comfortable with seven basic chart patterns that big winners trace before they break out to new highs and bold gains.
As you read MarketSmith India learning article, you’ll come across the cup with handle, double bottom and flat base. In time, you’ll also pick up the elements of a saucer, an ascending base, a base on base, and the high, tight flag. Continue reading “How To Sell Stocks Short: 4 Key Characteristics Of A Head-And-Shoulders Pattern”
Chart Of The Week – TeamLease Shines At The Bourses
TeamLease Services picked up 20% on more than its 10-week average volume this week. The stock broke out of its 16-week long consolidation base pattern and hit a new high.
Chart Of The Day – Reliance Industries Hits 4-Digits Mark
Reliance Industries came to the party in today’s session. The stock hits four digit club before closing 2.2% higher. The stock broke out of a flat base pattern and closed 1% above its pivot price of Rs 990.95. After the market close, the Company reported strong Q4 numbers. Revenue and net profit rose to 39% and 17% y/y.
