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After a continuous decline for eight sessions, the index recovered after dipping below 11,600 last Wednesday.
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; Daily Equity Report 10-04-2019 support@starindiaresearch.com8817002233 Outlook of Nifty & Bank Nifty Today Nifty Outlook:- Nifty Future Support- Resistance After a continuous decline for eight sessions, the index recovered after dipping below 11,600 last Wednesday. The recovery of 200 points toward 11,800 has seen the index head towards its 50 per cent retracement, which is at 11,851. The reversal may see the index face selling pressure in the range of 11,850 – 11860, which also coincides with 200-day moving average (DMA). 11660/11750 R1/R2 11500/11450 S1/S2 Daily Chart:
; Daily Newsletter Page 1 Bank Nifty Outlook:- Although Niftybank breached trend line level in daily chart, the index holds strong a support of the 200 DMA located at 29,610 levels. It is decisively trading above the same average from mid-November last year. The immediate resistance comes at 30,000 level, its 50 DMA. The Bearish Engulfing Candlestick pattern suggests any breach of 30,150 levels may further trigger a fall to its support of 30,000 levels. Bank Nifty Future Support- Resistance 30000/30150 R1/R2 29500/29200 S1/S2 Daily Chart: Top Gainers/Losers 325.60 153.45 1389.00 Top Losers 373.55 Top Gainers HINDALCO HINDUNILVR POWERGRID COALINDIA BPCL -4.30 -2.35 -2.07 -1.68 203.50 1706.50 193.15 254.50 2.31 2.25 1.42 1.25 BHARTIARTL IOC ASIANPAINT
; Daily Newsletter Page 2 Stocks Corner: The month of May has traditionally been a volatile period for Indian equities, especially in election years. In the last 10 years (since 2008), the benchmark indices, the S&P BSE Sensex and the Nifty50, have gained seven out of 10 times, with the outcome of the election acting as a key driver to the market movement. Bharti Airtel: Bharti Airtel posted a 29 per cent jump in net profit to Rs 107 crore for the quarter ended March 2019 even as the Street had anticipated a loss in the range of Rs 700 crore. The company said the jump was mainly due to gains from exceptional items. ICICI Bank: The private lender saw a 5 per cent fall in net profit for the quarter ended 1. March 2019 (Q4) to Rs 969 crore. This was due to higher operating expenses and treasury income plunging to Rs 156 crore versus Rs 2,685 crore a year-ago padded with Rs 3,320 crore of profit from stake sale in ICICI Securities. Marico: Homegrown FMCG major Marico on Monday posted over two-fold increase in consolidated net profit at Rs 405 crore for the fourth quarter of 2018-19, aided by one- time write-back of tax provisions amounting to Rs 188 crore. Infosys’ shares are likely to get support from the ongoing buyback process after the announcement of its fourth quarter results on April 12 as the company has bought back only around one tenth of the shares out of its planned repurchase programme till March 31. 2. 3. 4. 5. Stocks in ban period JETAIRWAYS
Daily Newsletter ; Page 3 Technical outlook of top 2 stocks RAYMOND Stock had given breakout of its resistance and able to sustain above it which can be seen in above charts further strong is expected. INTRADAY R1 R2 R3 825 832 845 820 810 800 795 Stock Info VOLUME DAY HIGH DAY LOW MARKET LOT SIZE VWAP 848148 821 800 LEVEL S1 S2 S3 All over trends Sideways to Positive
Daily Newsletter Page 4 ; BIRLACORPN Stock had given breakouts of its resistance and sustain near around it buying may continue in stock. INTRADAY R1 R2 R3 545 555 560 676 538 530 525 Bullish Stock Info VOLUME DAY HIGH DAY LOW 103421 544 528 LEVEL S1 S2 S3 All over trends
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