DSIJ Mindshare

The trend continues to be positive as long as the bulls continue to hold the opening upside gap of May 20 and we expect it to touch all-time high of 12,041. However, it may encounter resistance at the all-time high of 12,041, while, on the downside, the zone of 11,750-11,800 is likely to act as a support for the index. Stocks in news: Vascon Engineers, Reliance Capital, V-Mart Retail, Thangamayil Jewellery, NMDC, Adani Ports.

The key benchmark closed at record closing high on Monday and the indices are within striking distance from their all-time high levels. The mixed cues from the Asian peers in early trade and the SGX Nifty suggest that markets are likely to open flat with a negative bias. At the time of writing, SGX Nifty was trading at 11,910, down by 13 points.

Mumbai-based infrastructure company, Capacite Infra announced that it secured an order worth Rs. 170 crore from Market City Resources, on Monday.

The stock of Engineers India Limited has given downward sloping trendline breakout on Monday formed by connecting swing highs from December 24, 2019. The breakout was supported by justifiable volumes. Additionally, the stock formed a sizeable bullish candle on breakout day, which adds strength to the breakout.

The stock of ABB India Limited has given breakout of a horizontal trendline resistance on Monday along with strong volumes. Additionally, the stock had formed opening bullish Marubozu candle on breakout day, which adds strength to the breakout.