Nifty holds above 50-day line; broader market sell-off intensifies.
Daily Market Review:
For the second day in a row, a positive opening on Nifty ended in a loss, as selling pressure mounted on Dalal Street.
While benchmark composites managed to limit losses at 0.3%, the carnage in midcap and smallcap stocks rubbed salt on wounds of investors.
The Nifty Midcap and Smallcap received a thrashing once again, as they shed 1.3% and 2.5%, respectively. The Nifty Smallcap closed just 2% above its 52-week low today. Continue reading “Daily Big Picture – Nifty Limits Loss Amid Havoc in Broader Market”
“A picture, they say, is worth a thousand words. But to the successful investor, a picture in the form of a stock chart is worth a lot more. And not just in words.” – William J. O’Neil, MarketSmith Founder
By now, most investors would have figured out that the Indian stock market has indeed undergone a character change.
From a free-flowing upward trending market in 2017, we are now seeing high volatility leading to choppy movements. Continue reading “How Long Should You Wait In A Stock That Moves Sideways After You Buy It?”
Pfizer accumulated gains for the ninth consecutive session as it gained 1.6% and scaled a fresh one-year high in today’s session. The stock broke out of a cup-with-handle base pattern recently and has advanced 15% from its pivot price of Rs 2,274.40 in six weeks.
Sensex witnesses distribution day; broader market sell-off continues.
Daily Market Review:
A strong opening at the bourses was turned upside down as India’s frontline indices ended the day 0.6% lower.
While both the Nifty and Sensex managed to limit their losses, it was a completely different story in the broader market. Continue reading “Daily Big Picture – Bears Stamp Authority; Smallcap Sell-Off Continues”
Firstsource Solutions paid no heed to sell-off in the midcap and smallcap space. The stock broke out of a tight area and advanced 4.6% to enter new high ground. The stock has been in an uptrend for quite some time and has advanced 84% since the beginning of the year.