Category: Market Outlook

Today’s Action

Benchmark indices witnessed a sharp sell-off for three consecutive days. Nifty, -1.7%, Sensex, -1.6%, Model Portfolio, -2.4%; MSI Ind 47, -1.9%.

Daily Market Review

The Nifty and the Sensex ended in red for the third consecutive day ahead of OPEC meeting which may result in possible supply cut. In addition, the arrest of Huawei’s CFO in Canada may lead to fresh round of trade concerns between the U.S. and China. Continue reading “Nifty Breached 200-DMA; Realty and Auto Stocks Drag Market”

Hikal gained for the second straight week as the stock jumped 20% on the back of massive buying interest. It broke out of an 19-week long double bottom base pattern on more than 21x the 10-week average volume.

Usha Martin rallied for the third straight session and closed 3.6% higher. The stock has seen increased buying interest following news reports of Tata Steel, JSW Steel lining up to buy its debt-ridden steel business. Today, the stock broke out of a cup-with-handle base on above-average volume.