With Reliance Industries on Thursday became the first Indian company to cross Rs 8 trillion in market capitalization. TCS inched 0.4% higher in today’s trading session to hit a new high. As a result, the stock is not far behind to clear the same milestone. It is currently valued at Rs 7.8 trillion, a 2.6% away from the Rs 8-trillion mark.
Charts should be used to help you time both your buy points and sell points for individual stocks. With regarding to topping patterns, one of the most recognizable is the climax top, where a stock will run up at a much faster rate than in the prior weeks. For example, it may advance 25% to 50% in one to three weeks after a long advance. Trading volume generally picks up during this period. One of the days towards the end will probably show the stock’s greatest one-day price advance since the beginning of the move up. Sell into this unusually stong price action. Recognizing distribution days in a stock’s pattern will also help you analyze whether or not a stock is showing signs of topping. For example, if after a long advance, volume picks up with no further price progress, this may be a sign that institutions are unloading the stock. Charts are not as helpful when considering when to buy or sell a mutual fund because volume figures are not posted for mutual funds.
Nestle India jumped 6% on the back of tie-up with Flipkart to launch new Maggi variant. As a result, the stock hit a new high and closed 49% above its pivot price of Rs 7,720.00.
RBL Bank continued its good run as the stock hit a fresh high for the first time since May 2017. The bank had reported strong numbers in Q1 FY 2019, delivering net interest income growth of 46% and net profit growth of 35%. The stock has gained 17% since the beginning of 2018.
