Considering the daily timeframe, the stock of L&T Technology Services (LTTS) has given a downward sloping trendline breakout, formed by connecting swing highs since May 2019. Further, the breakout is supported by a robust volume of more than 10 times of 50-day average volume, indicating a strong buying interest by the market participants.

On Tuesday, the domestic markets continued to remain volatile and subdued. In spite of this, a number of stocks made fresh 52-week highs, led by investors’ confidence. Stocks such as Cipla, JK Cement, Mindtree, JSL, etc. were trending.

The company confirmed the export orders of nearly 38,000 wheels for the US & EU markets. The wheels, which will be manufactured at Dappar (Punjab) & Chennai (Tamil Nadu) plant, are said to be executed in the months of December & January.

During Tuesday’s trading session, the stock of Rane Brake Lining jumped more than 19 per cent and made an intraday high of Rs 693.65. 

Amid the continuing rise in food prices, the inflation based on the consumer price index (CPI) jumped to an eight-month high of 7.34 per cent in September.

The market opened flat on October 13, 2020.

The market opened flat October 13, 2020, overall volumes in futures & options currently stand at 2,12,40,852 contracts with a turnover of Rs. 15,36,063.53 crore.

The market opened flat October 13, 2020, overall volumes in futures & options currently stand at 2,12,40,852 contracts with a turnover of Rs. 15,36,063.53 crore.

On the Capex front, the board has recently approved the setting up of an additional facility to produce 100,000 MTPA of Chloromethane in Dahej (Gujarat) at a projected cost of Rs 315 crore. This project would enhance the company’s industrial chemical portfolio and is likely to commence by January 2022.

On Tuesday, it will be a rare sight for the market participants to witness the Indian markets open in red as the domestic markets rallied for the eighth consecutive session on Monday.