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Synopsis
Tata Elxsi, Amrutanjan Healthcare, JSW Steel, Greenlam Industries, Suven Life Sciences, Vinati Organics and Jindal Steel & Power witnessed strong buying interest from market participants as they scaled their fresh 52-week highs on Friday, signalling bullish sentiment.
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Nifty formed a Doji on both daily and weekly scales.
NEW DELHI: After trading on a volatile note in Friday s session, headline index Nifty formed indecisive candles similar to Doji formations for both Friday s session and for the week gone-by.
Rohit Singre of LKP Securities said Nifty50 has created a good base near the 14,250-14,200 range. “As long as these levels hold up, the structure will remain positive. A stiff hurdle lies in the 14,450-14,500 zone. The index may find fresh strength only above the 14,500 level,” he added.
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NEW DELHI: Nifty opened gap up on Tuesday, but saw a steady decline through the session to form a long bearish candle similar to that of a Bearish Belt Hold pattern for the day. The candle had a small lower shadow and no upper shadow as the opening level was the day s high.
Mazhar Mohammad of Chartviewindia.in said, Unless Nifty swiftly registers a close above 14,300, the possibility of slipping towards 13,950 remains higher. In case the bulls manage a close above 14,300, a sideways move with slightly positive bias can be expected. Upsides for time being remain capped at 14,530 level.
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NEW DELHI: Around 10 stocks fell to touch their 52-week lows on NSE in Tuesday s session. Among the stocks that touched their 52-week lows on NSE were: AKG Exim, Taj GVK Hotels, Mittal Lifestyle, Jump Networks, Shradha Infraprojects, Suvidhaa Infoserve, LCC Infotech, Ujaas Energy, Radha Madhav Corporation and DSJ Communications. Domestic benchmark index NSE Nifty was trading 31.20 points up at 14390.65, while the BSE Sensex was trading 84.84 points up at 48034.26. On the other hand, Supreme Petrochem, Apollo Hospital, Tata Consumer Products, Max Healthcare and J B Chemicals stocks hit their fresh 52-week high today.
In the Nifty 50 index, Dr. Reddy s, Bajaj Finserv, Bajaj Finance, HDFC Life and Tata Consumer were among the top gainers on the NSE. However, HCL Tech, UltraTech Cement, Tech Mahindra, Shree Cements and HDFC were among the top losers.
Ahead of Market: 12 things that will decide stock action on Tuesday
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Synopsis The new short-term range for the index will be in the 14,200-14,700 range, said Gaurav Ratnaparkhi of Sharekhan.
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NEW DELHI: Nifty saw a gap-down opening on Monday and witnessed deep sell-off in the intraday trade. The headline index formed a Long Black Day candle on the daily chart. Nifty has approached a trendline drawn from the previous crucial swing lows. All these parameters offered some support to the index. These parameters are in the 14,200-14,300 range. Unless this range is broken on a closing basis, the index can still stay in a consolidation phase. The new short-term range for the index will be in the 14,200-14,700 range, said Gaurav Ratnaparkhi of Sharekhan.