Jubilant foodworks recovers sharply and retakes its 200-day line. Q2 result are due on October 24. If it is able to trade above 200-DMA and get leverage from Q2 numbers, a potential uptrend is expected.
Net profit of NIIT Technologies grew 66.3% to Rs 111.8 crore y/y. The stock was up 5.2% and has re-breakout today on an above average volume which is a positive sign for upward movement. The 50-day line which is 5% above current price can be the next resistance.
Infosys Q/Q revenue beats the estimates while Net profit was slightly below estimate. On a technical chart, the 50-day line is a strong resistance. If the stock is able to trade above it, there can be a potential uptrend.
Dr Reddy’s Laboratories gained 4.8% driven by sale of API unit in Therapiva. Also, it receives USFDA approval for Aspirin and Dipyridamole post-trading hours can turn out positive tomorrow. On a technical chart, the stock is just 2% away from a rebreakout.
HEG brought its five-week losing run to an end thanks to heavy-volume buying that took it higher by 31%. It closed 6.5% below its all-time high of Rs 4,542.