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Index trend and stocks in action May 17, 2019

Karan DSIJ / Article rating: 5.0

Trend traders will keep an eye on two levels, namely, 11,108 and 11,300, and breakout on the either side will result in a trending move. If bulls manage to surpass the resistance level of 11,300, Nifty may scale higher towards the levels of 11,370-11,400. On the downside, breach of 11,108 would result in a correction towards the level of 11,000. Stocks in news: Trigyn Technologies, InterGlobe Aviation, Bharat Forge, Manappuram Finance, Punjab National Bank.

Market opening hinges on bulls keeping the momentum going

Karan DSIJ / Article rating: 5.0

It would be interesting to see whether or not bulls continue their last session momentum on Friday. Early cues from the SGX Nifty indicates that Nifty may open the session on a lacklustre note as SGX Nifty is trading lower by 17 points at 11,287. Nifty has an immediate hurdle at 11,300 and a breakout above this level would provide the much-needed impetus to the bulls. On the earnings front, Bajaj Auto, CESC, CUB, Dr Reddy’s Laboratories, Engineers India, IOC, Sobha and UPL will report their results today.

Markets likely to follow Wall Street's positive cues

Karan DSIJ / Article rating: 4.0

After a sharp sell-off in the last hour of trading on Wednesday, Indian indices hope for a recovery at the start of the session on Thursday, following positive close on the Wall Street overnight. At the time of writing, the SGX Nifty was trading higher by 25 points at 11,187 level. Market participants will eye quarterly results of Bajaj Finance, Bajaj Finserv, Hindalco and Praj Industries.

Index trend and stocks in action May 15, 2019

Karan DSIJ / Article rating: 5.0

The 100-DMA (11,132) is likely to act as an immediate support for the index, followed by the 200-DMA (11,036). On the higher side, the identical high of the last two sessions, which is near about 11,300, is likely to act as an immediate resistance for the index. Stocks in news: Wockhardt, Datamatics Global Services,Vodafone Idea, Future Supply Chain Solutions, NTPC, GIPCL, Orchid Pharma.

Index trend and stocks in action May 14, 2019

Karan DSIJ / Article rating: 3.7

The zone of 11,035-11,070 would now act as a strong support level as it is the confluence of the 61.8 per cent retracement of the entire upmove from the low of February to the April high and the rising 200 DMA. With the RSI almost near the oversold region of 30 and after a continued descend in the last nine trading sessions, Nifty has created scope for a technical pullbacks, which are likely to be resisted around the levels of 11,220 followed by 11,300. Stocks in news: Lux Industries, Engineers India, Tata Power, Avadh Sugar & Energy, Delta Corp, Shankara Building Products, Bajaj Finance, D-Link.

Markets may see red as US-China trade war escalates

Karan DSIJ / Article rating: 5.0

With China retaliating against the US with punitive tariffs, the global markets felt the pain and are bleeding red. The SGX in early trading is showing weakness of 0.90 per cent and this clearly indicates that a gap-down opening is in store for the Indian markets. Now, for the Nifty, the final ray of hope is 11,035 level as it is the 200-DMA.

Index trend and stocks in action May 13, 2019

Karan DSIJ / Article rating: 5.0

The last eight sessions' descend of about 4.6 per cent has pulled the index towards its crucial support area of 11,180-11,227. In the coming session, holding above this support level would keep the pullback options open.  Else, there would be extension of correction, where the important long term moving average of 200 DMA (11,034) is likely to act as a strong support. On the upside, the pullbacks are likely to be resisted at 11,370, followed by 11,425 levels. Stocks in news: Shankara Building Products, Kridhan Infra, Trident, GAIL, HPL Electric & Power, UPL, Transpek Industry, Tata Steel.

Markets may open in the red amid negative news flow

Karan DSIJ / Article rating: 5.0

Indian markets have to face a double whammy at the start of the week as India’s industrial output contracted 0.1 per cent in March, recording a 21-month low, due to slowdown in manufacturing sector and the world’s two biggest economies seemed at the end of the road over trade negotiations on Sunday as Washington demanded promises of concrete changes in Chinese law and Beijing said it would not swallow any ‘bitter fruit’ that harmed its interests. At the time of writing, the SGX Nifty was trading lower by 40 points at 11,244.

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