DSIJ Mindshare

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.

Mindtree Limited was picked by our Bollinger Band squeeze scanner which suggests that the stock is near a consolidation breakout.

The company’s order book as on Q3FY19 stood at Rs. 1,322 crore. The order book split up stood at Carbon Steel (69 per cent) and high margin stainless steel (31 per cent).

Markets were upbeat throughout the day on Monday. Initially, post the pre-market session, the markets had dipped, but they soon gained momentum and continued the upward rally. The BSE Sensex closed with 0.63 per cent gains. Mid-cap stocks joined the rally with RBL up 19 per cent and ABB and IGL posting around 10 per cent gains.

The stocks that are likely to witness significant movement on the bourses on May 28 are Colgate Palmolive, Brigade Enterprises, NIIT Technologies, Sterlite Technologies and Ratnamani Metals & Tubes.