Tag: Confirmed Uptrend

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Daily Big Picture: FMCG, Pharma ,Metal Stocks Gained up 4-5%

Today’s Action

Nifty, +3.8%; Sensex, +3.6%; Nifty Midcap, +2.3%; Nifty Smallcap, +3.1%; Model Portfolio, 0%

Daily Market Review

Market Pulse: Confirmed Uptrend

Nifty ended the day with strong gains, up about 3.5%, on higher volume than yesterday’s session. As the volume was higher and percentage gains met our threshold, today’s action was considered as a follow-through day.Hence, we upgraded the market to a Confirmed Uptrend. We did see some decent percentage gains by many leaders, but most of them are still below their key moving averages.

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Daily Big Picture: Nifty at an intraday high of 8,576; as Lupin receives a nod from USFDA

Today’s Action

Nifty, -4.4%; Sensex, -4.6%; Nifty Midcap, -2.8%; Nifty Smallcap, -2.3%; Model Portfolio, 0%

Daily Market Review

Market Pulse: Rally Attempt

Nifty, after opening around 300 points lower, surged higher to make an intraday high of 8,576. However, as the day progressed, it continued to decline to end below 8,300. Today’s action has put an end to the last four session’s rally. 76% of Nifty 50 stocks have declined, with Bajaj Finance (-11.8%) and Housing Development Fin. (-11.1%) being the major decliners.

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