CLOSING BELL ON AUGUST 09, 2023: The BSE benchmark gained over 600 points from the day's low ; BSE Metal index surged 2.5 per cent; Energy and Consumer Durables indices were up over a per cent each.
Post Q1 results, major banking stocks have lost the upside bias. Most stocks are facing hurdles at upper levels.
While the trend looks fragile, key supports are continuing to bolster the up move
OMC stocks are displaying bearish sentiment, if fails to hold key supports then could enter medium-term selling bias.
Bajaj-Auto, HIndalco, Dr. Reddy's Laboratories, NTPC, and IDFC First Bank may rally up to 15 per cent, show technical charts
Hindustan Unilever to hit new 52-week low if the support of Rs 2,520 is breached
Nifty Realty index to rise up to 5 per cent in the coming weeks, post delivering bullish breakout on the charts.
So far this year, NTPC has soared 36 per cent, Torrent Power zoomed 39 per cent and Power Grid Corporation of India advanced 21 per cent. Overall trend in these power stocks continues to remain sturdy
Barring, Pfizer, Gland Pharma, and Laurus Labs, all other constituents of Nifty Pharm Index trade over the 200-day simple moving average (SMA),
Trend in Bajaj twins remains sluggish and may slide in bear's grip if key levels are breached
Technical charts of M&M shows weakness, while RBL Bank continues to remain resilient.
The broader trend in the cement sector remains optimistic, price action riding along the overall bullish sentiment
The FMCG index has breached previous reversal support, igniting fear of caution among retail traders. This move emerged after the index reached a new historic peak a few sessions ago.
While the medium-term outlook remains highly optimistic, the stock may remain choppy in the near-term
ICICI Bank remains strong on charts post delivering Q1 results last week
New-age companies may rise up to 29 per cent in the forthcoming seasons as market sentiment improves amid record-breaking run in benchmark indies
Listed NBFC stocks are currently facing selling pressure at higher levels, show technical charts
Overall trend - the Nifty Small cap index continues to remain highly robust, with an intend to reach a new historic high.
Closing Bell on July 18: Infosys, HCL Tech, Reliance Industries, Hero MotoCorp, Bajaj Auto, ICICI Bank, Wipro, Bajaj Finserv, and Adani Enterprises were some of the notable gainers
The range breakout in both the indices have triggered fresh upside