Interglobe Aviation, which runs Indigo Airlines, picked up 13% on above-average volume this week. The stock broke out from its 27-week long consolidation base pattern and entered a new high ground. The stock has strong Industry Group Rank of 14.
Chart Of The Day – Shakti Pumps Packs A Punch
Shakti Pumps jumped 15.3% on 6x average volume in today’s session. The stock broke out from its eight-week long double bottom base and hit a new high today. The stock has a strong Relative Strength Rating of 93 and Accumulation and Distribution Rating of A-, indicating solid demand for the stock.
Weekly Big Picture – Bulls Flex Muscles; Market Enters Uptrend
MARKET PULSE
Status:
Confirmed Uptrend
Highlights:
Four up days, one down day
Weekly Market Review:
The Indian stock market brushed aside escalating trade war concerns to pocket strong gains for the second week in a row. Nifty and Sensex climbed 2.2% and 2% higher, respectively, during the week.
The much-awaited follow-through day finally arrived on Thursday, as investors cheered RBI’s optimistic outlook for the Indian economy in FY 2019. The apex bank projects FY 2019 GDP growth to touch 7.4% and also lowered inflation forecast. Continue reading “Weekly Big Picture – Bulls Flex Muscles; Market Enters Uptrend”
Chart Of The Day – VIP Industries Proves Its Mettle; Reclaims 50-DMA
After being kept quiet for a while, VIP Industries made amends in today’s session. The stock attracted massive buying interest, helping it to rally 15.8%. The stock reclaimed its 50-day line for the first time in almost two months.
Daily Big Picture – Strong Global Cues, Dovish RBI Stance Fuel Market Rally
Today’s Action:
Major indices bring home strong gains; follow-through day puts market in Confirmed Uptrend.
Daily Market Review:
Market bulls made a strong comeback, as India’s key indices accumulated sizable gains, buoyed by strength in global equity markets.
With trading volume higher than yesterday’s session, today’s action qualified as a follow-through day.
Today’s session began on an encouraging note, with both the frontline indices gapping up and rebounding from their 200-day lines.
Continue reading “Daily Big Picture – Strong Global Cues, Dovish RBI Stance Fuel Market Rally”