Day trading guide: 2 stock recommendations for Monday
SECTIONS
Last Updated: Feb 21, 2021, 05:43 PM IST
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Synopsis
Stocks-specific action was the theme last week as about half of Nifty50 components faced down-ticks, while stocks like ONGC, GAIL, NTPC and Power Grid rose more than 10 per cent.
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Amit Trivedi, CMT, Technical Analyst - Institutional Equities, YES Securities:
Snapping a two-week-long winning streak, the bulls took a pause last week. Nifty lost 3.5 per cent from its record peak, revisiting levels of 14,900. The rally in Friday’s trade remained short-lived, finding stiff resistance near 15,150. On the flip side, selling pressure intensified as it broke below levels of the previous session’s low (15,078). Sustenance above 14,900 could attract some consolidation at the upper band, albeit a mixed trend is possible among sectoral indices.
Mahindra CIE Automotive Ltd registered volume of 24.25 lakh shares by 14:14 IST on NSE, a 15.55 fold spurt over two-week average daily volume of 1.56 lakh shares
Central Depository Services (India) Ltd, Cholamandalam Investment & Finance Company Ltd, Poly Medicure Ltd, PNB Housing Finance Ltd are among the other stocks to see a surge in volumes on NSE today, 15 February 2021.
Mahindra CIE Automotive Ltd registered volume of 24.25 lakh shares by 14:14 IST on NSE, a 15.55 fold spurt over two-week average daily volume of 1.56 lakh shares. The stock rose 19.19% to Rs.200.30. Volumes stood at 1.03 lakh shares in the last session.
Central Depository Services (India) Ltd registered volume of 49.43 lakh shares by 14:14 IST on NSE, a 5.11 fold spurt over two-week average daily volume of 9.68 lakh shares. The stock rose 6.55% to Rs.573.30. Volumes stood at 23.12 lakh shares in the last session.
Markets watchdog Sebi on Tuesday imposed a fine of Rs 1 lakh on Reliance Capital Ltd for violation of Depositories and Participants Regulations back in 2010. As per the regulations, depository participants are restricted from delegating their function to any other person, without the prior approval of the depository. During an investigation, Sebi found that in the process of investor grievance redressal mechanism, there were certain complaints against Reliance Capital (noticee) as a depository participant. The replies to those complaints were given by Reliance Securities Ltd (RSL) in the capacity of a depository participant. The regulator conducted an inspection of Reliance Securities on August 13-14, 2012 for the duration of April 2010 to March 2012.