DSIJ Mindshare

Indian stock market bulls finally surrendered after tremendous struggle to sustain above the support levels. We hold 10,100 followed by 10,033 as immediate supports. The 9685 level is a major reversal for the Nifty in the medium term. On the upside, 10315-10375 followed by 10,425 will act as resistances.

Eris Lifeciences is seen surging against the market sentiments with 5.4 per cent gains from the previous close. The stock succeeded in giving a consolidation breakout with 3.10 times volume spurt in intraday trade. The oscillators too are trailing above 60 levels which supported momentum in the stock.

After a brief downward rally in the most talked of cryptocurrency, Bitcoin, the bottom is said to have been made for now. ow Bitcoin/USD chart shows a Cup and Handle pattern in the making, with Bitcoin taking multiple resistance at 11,600-11,775 levels.

While the entire market is grabbed with negative sentiments, Nifty IT is trailing flat to positive amid bounce back in the IT majors. Where the benchmark indices have seen 4 consecutive days of downfall, Nifty IT index is trading in consolidation from past 5 trading sessions.

Apollo Hospitals Enterprise has dully withstood the pessimistic market conditions and is striving to maintain consolidation to upside. The stock has formed an Inverse Head and Shoulders pattern and is trailing in the neckline breakout zone from last 4-5 sessions.