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Stock Market: Ahead of Market: 12 things that will decide stock action on Monday


NEW DELHI: After profit booking went unabated for the fourth consecutive session on Friday, domestic headline equity index Nifty breached the crucial support level of 15,000 and formed a bearish candle for the day. On the weekly scale, the 50-pack index formed a Bearish engulfing pattern as it retraced below the 15,000 mark after 10 sessions.
Chandan Taparia of Motilal Oswal Securities said as long as the index remains below 15,150 level, it would continue to see weakness and head towards its next key support at 14,800 and 14,700 levels. On the upside, he said, hurdles are seen at 15,250 and 15,400 levels.
Profit taking was evident throughout the day as we witnessed several pivotals succumbing to selling pressure as traders feared rising Covid cases in Maharashtra. The PSU bank index which rose 12 per cent in the last two days shed 5 per cent today, said S Ranganathan, Head of Research at LKP Securities. ....

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52-week low: Stock market update: 6 stocks hit 52-week lows on NSE


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NEW DELHI: Around 6 stocks fell to touch their 52-week lows on NSE in Friday s session.
Among the stocks that touched their 52-week highs on NSE were: AKG Exim, Global Education, Jiya Eco-Products, Radha Madhav Corporation, Ravinder Heights and Sanwaria Consumer.
Domestic benchmark index NSE Nifty was trading 47.70 points down at 15071.25, while the BSE Sensex was trading 139.96 points down at 51184.73.
On the other hand, The New India Assurance, IDFC First Bank, Capri Global, Redington and IDFC stocks hit their fresh 52-week high today.
In the Nifty 50 index, UPL ,
GAIL, NTPC, Hind. Unilever and Coal India Ltd were among the top gainers on the NSE. However, Hero MotoCorp, Tata Steel, Bajaj Auto, Tata Motors and ICICI Bank were among the top losers. ....

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market outlook: Ahead of Market: 12 things that will decide stock action on Friday


NEW DELHI: Nifty s consolidation run continued to the third consecutive day as the headline index formed a bearish candle on the daily chart. The 50-pack bluechips underperformed the broader market as the rally continued in the midcap and smallcap space.
Ajit Mishra, VP - Research, Religare Broking said, In absence of any major trigger, we may see further consolidation in markets. Meanwhile, the focus should be on position management. Nifty has the next major support around the 14,850-14,950 zone.
Nifty made a move towards the mentioned resistance zone of 15,245-15,315. Since the move was lacking strength, the selling started after testing the lower range of 15,245, which eventually resulted in a decent intraday profit booking. Now, although the market looks a bit tentative, it is nowhere close to the trend reversal or sell off. Rather, it needs to be construed as a minor profit booking only, said Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking. ....

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52-week high: Stock market update: 5 stocks hit 52-week lows on NSE


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NEW DELHI: Around 5 stocks fell to touch their 52-week lows on NSE in Thursday s session.
Among the stocks that touched their 52-week lows on NSE were: AKG Exim, Jiya Eco-Products, Radha Madhav Corporation, Ravinder Heights and Sanwaria Consumer.
Domestic benchmark index NSE Nifty was trading 91.05 points down at 15117.85, while the BSE Sensex was trading 355.68 points down at 51348.15.
On the other hand, The New India Assurance,
IOB, Central Bank of India, Union Bank India and Gujarat Gas stocks hit their fresh 52-week high today.
In the Nifty 50 index, GAIL, ONGC, Indian Oil Corp, Asian Paints and Coal India were among the top gainers on the NSE. However, ICICI Bank, Shree Cements, HDFC, ....

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market outlook: Ahead of Market: 12 things that will decide stock action on Friday


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NEW DELHI: Nifty breached its 14,000 levels and touched its all-time high in the intraday session on Thursday and formed an indecisive candle on the daily chart. The 50-pack formed consecutive indecisive candles in the recent sessions, which signals towards caution that is being employed by the market participants with consistent profit booking and buying on dips approach.
Ajit Mishra, VP - Research at Religare Broking opined, investors would await the auto sales numbers and PMI data as it would help in gauging the economic recovery. Further, global cues are likely to dictate the trend for the markets in the near term. We reiterate our cautious stance on the markets. ....

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