INSUBCONTINENT EXCLUSIVE:
Market tips: Nifty is trading above its 21 and 50 Days Moving Averages with negative crossover.The S-P BSE Sensex and NSE Nifty 50 Indexes
extended yesterday's declines and were trading with a negative bias weighed down by selling pressure in HDFC, Bajaj Finance, Infosys,
State Bank of India, Larsen - Toubro and ICICI Bank
The Sensex declined as much as 281 points and the NSE Nifty 50 Index touched intraday low of 11,503, moving closer to important
psychological level of 11,500
Selling pressure in today's session was broad-based as all the 11 sector gauges compiled by National Stock Exchange were trading lower led
by the Nifty Auto Index's 1.8 per cent decline
Mid- and small-cap shares were also witnessing selling pressure as Nifty Midcap 100 and Nifty Smallcap 100 Indexes fell 1 per cent
each.Nifty opened on a positive note at 11,642.10 which was also an intraday high but failed to hold that level and remained highly volatile
throughout the session on Thursday
The index closed 90.60 points or 0.78 per cent lower at 11,596.90 on Thursday
On a daily chart, the Nifty has formed big bearish candle with above average volume activity which points to negativity in Nifty, Choice
Broking said in a research report.Moreover, Nifty is trading above its 21 and 50 Days Moving Averages with negative crossover which point to
negativity in the index, Choice Broking added.Sell Sun Pharma shareChoice Broking recommends selling Sun Pharma shares in the range of Rs
429 and up to Rs 432 for downside target of Rs 412 with stop loss at Rs 438
On a daily scale, the stock is facing resistance on its falling trend line which indicate downside movement in the stock
On an hourly scale, Momentum indicator RSI reading is at 53.65 level with a negative crossover which points out for a negative breath in the
counter, Choice Broking's reserach team headed by Sumeet Bagadia wrote in a research report.Sell Cholamandalam Investment and Finance July
FuturesChoice Broking has recommended selling Cholamandalam Investment and Finance company's July future contracts in the range of Rs
267-270 with stop loss at Rs 275 for target of Rs 251
On a daily chart, the stock has given a breakout from its upward rising trend line which indicates a southward movement in the stock, Choice
Broking said in a report.Buy Canfin HomesThe Mumbai-based brokerage firm has recommended buy on Canfin Homes for target price of Rs 410 with
On a weekly chart, the stock has started to trade above its 100 Weekly Exponential Moving Average which shows an upside rally in the
counter, Choice Broking said.Sell Reliance IndustriesSumeet Bagadia, executive director at Choice Broking has recommended sell on Reliance
their own assessment before acting on the information.Get Breaking news, live coverage, and Latest News from India and around the world on
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