Berger Paints soared 4.8% on above-average volume today. The stock hit a new high and closed 3% above its pivot price of Rs 305.70. It exhibits strong technical characteristics with Price Strength of 84 and Buyer Demand of A. The Company will report its Q1 numbers on August 3.
Today’s Action:
Key indices resume their uptrend. Broader market outperforms.
Daily Market Review:
Indian stock indices gained on Tuesday despite Asian markets sagging due to oil’s slide. Asian markets mostly traded lower, as a sharp decline in crude oil prices weighed on energy stocks.
Overnight, Brent crude oil prices declined 4.6% to $72.30 on reports suggesting Saudi Arabia and the U.S. are likely to prevent the oil shortage caused by President Donald Trump’s sanctions on Iran.
The Indian market was also buoyant by PSU bank stocks as reports indicate that the Indian Government has plans to recapitalize some of the public sector banks. Continue reading “Daily Big Picture – Nifty Resumes Rally After Two Day Break”
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Learn how to pick stock market bottoms by understanding the concept of Follow-Through Day.
Merck beat the market heat and rallied 4.7% in today’s session. The stock reclaimed its 50-DMA and closed 37% above its pivot price of Rs 1,686.80.
Today’s Action:
Market trends lower on poor volume; escapes distribution day.
Daily Market Review:
For the second session in a row, the Indian stock market closed in a negative zone with the Nifty trading well below its 11,000 level.
Pharmaceutical stocks led the Monday’s downfall, as heavyweights like Dr Reddys Laboratories (-9.7%), Lupin (-5.5%) and Sun Pharm.Industries (-4.6%) observed selling pressure. Continue reading “Daily Big Picture – Economic Woes Dent Market Sentiment”
