DSIJ Mindshare

S&P BSE 200 index opened with a gap-up on Monday, followed by a gap filling but ultimately bounced back to close in green at its peak levels. The index had given a multiple resistance breakout near 4,750 and since then has hit higher high with just one breather in between. 5 BSE 200 stocks hit 52-week high on Monday.

When the benchmark indices along with few sectoral indices are on the gaining spree and hitting all-time highs, Nifty Energy and Nifty Private Bank were not an exception to it. Nifty Energy index hit all-time high at 14,737 for the first time after January 23, 2018 and Nifty Private Bank hit its peak at 15,542 for the first time after January 29.

ITC, engaged majorly in cigarette making zooms more than 5 per cent in Friday’s trade after it posted robust Q1 results on Thursday post market hours.The stock witnessed a breakout in a range of 250 to 290 depicted by a significant Bullish Candle, huge volumes and 14-period RSI surge from 53 to 71 on weekly time frame.

Considering the monthly time frame, Mid-cap index has bounced back from near the 50 per cent retracement of the prior upward rally and registered its third consecutive uptick on daily time frame. 15750-15790 will act as major resistance may be for giving bottoming out signal. 17030-17060 will act as trend reversal.

Reliance Capital’s subsidiary, Nippon Life Insurance announced its financial performance for Q1FY19 on Tuesday where it posted persistency and premium growth. The stock of Reliance Capital surged nearly 4 per cent, registering its third consecutive uptick after consolidating for a while at its 52-week low level.