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Content
Signals
All indicators - Medium term
ICICI Bank Ltd.Apr 25, 2024
Kotak Mahindra Bank LtApr 25, 2024
Axis Bank LtdApr 25, 2024
ITC Ltd.Apr 25, 2024
Mazagon Dock ShipbuildApr 25, 2024

The market showed a small gain Thursday, and S&P BSE SENSEX ended the day at 74339 points, which is an increase of 0.7 percent. The index has now closed up for the fifth day in a row.

1735 shares showed a gain and 1561 showed a loss. 105 shares were unchanged and closed at the same price as the previous day. There was no trading in 309 shares.

Total value of the trading volume for shares and primary capital certificates Thursday was approximately 95.2 billion.

Axis Bank Ltd rose sharply to close at 1127 rupee, up 6.0 percent. We must go back to Oct 21. 2022 to find an equally strong rise. That time the stock gained 9.0 percent. The stock has now risen for the fifth day in a row. The stock triggered a buy signal by the break up through the resistance at 1118 rupee in rectangle formation. A further increase to 1219 rupee within five months is indicated.
Kotak Mahindra Bank Ltd. closed at 1643 rupee after a steep drop of 10.9 percent. We must go back to Mar 23. 2020 to find an equally steep drop. That time the stock lost 12.9 percent. The stock triggered a sell signal by the break down through the support at 1689 rupee in rectangle formation. A further drop to 1466 rupee within one year and seven months is indicated. The volume was also very high. At session end it was bought and sold shares for about 4181 million rupee in the stock, which equals 14 times mean daily turnover.
Kirloskar Pneumatic Co.Ltd. closed at 913 rupee after posting a gain of 14.7 percent. The stock has never gained more in one day since May 3. 2021, when it was up 19.5 percent. The stock has now risen for the eighth day in a row. It was also very high volume. Overall it was traded for 277 millions rupee in the stock, which is 40 times as much as normal daily turnover. It also looks good technically. The stock is trend wise positive in the medium term, has support at 684 rupee and a further increase is indicated.
State Bank of India rose sharply to close at 813 rupee, up 5.1 percent. The previous time the stock gained this much was Mar 3. 2023, when it closed up 5.1 percent. The stock has now closed up for the fifth day in a row. Technically it also looks good. The stock is trend wise positive in the medium term, has support at 770 rupee and a further increase is indicated.
Sun Pharma Advanced Research Co. Ltd closed at 272 rupee after a steep drop of 5.0 percent. The stock has now closed down for the tenth day in a row and this past month the stock has lost as much as 23.7 percent. The volume was also extremely high. At session end it was bought and sold shares for about 324 million rupee in the stock, which equals 82 times mean daily turnover. Technically, however, it looks good. The stock is trend wise positive in the medium term and a further increase is indicated.

National S.E. rises for the fifth day in a row
The market showed a small gain Thursday, and Nifty 50 ended the day at 22570 points, which is an increase of 0.7 percent. The index has now closed up for the fifth day in a row.

US 500 weakly lower Thursday
The market showed a small loss Thursday, and S&P 500 ended the day at 5048 points, which is a decline of 0.5 percent.

Indices
S&P BSE SENSEX
arrow green   Positive Candidate
S&P BSE SENSEX is in a rising trend channel in the medium long term. This shows that investors over time have bought the index at higher prices and indicates good development for the market. The index is moving within a rectangle formation between support at 72629 and resistance at 75070. A decisive break through one of these levels indicates the new direction for the index. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 72200 points. The index is overall assessed as technically positive for the medium long term.
Nifty 50
arrow green   Positive Candidate
Nifty 50 is in a rising trend channel in the medium long term. This shows that investors over time have bought the index at higher prices and indicates good development for the market. The index is moving within a rectangle formation between support at 22041 and resistance at 22757. A decisive break through one of these levels indicates the new direction for the index. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 22000 points. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. This weakens the rising trend and could be an early signal of a coming trend break. The index is overall assessed as technically positive for the medium long term.
S&P 500
arrow green   Weak Positive Candidate
S&P 500 has broken through the floor of a rising trend channel in the medium long term. This indicates a slower rising rate at first, or the start of a more horizontal development. The index has support at points 4600 and resistance at points 5250. The RSI curve shows a falling trend, which could be an early signal of the start of a falling trend for the price as well. The index is overall assessed as technically slightly positive for the medium long term.
Today´s Case
Excel Industries Ltd. (500650) Price 1006.30, Apr 25, 2024
chart
Excel Industries Ltd. has broken up from an approximate horizontal trend channel in the medium long term. This signals a continued strong development, and the stock now meets support on possible reactions down towards the ceiling of the trend channel. The price has also broken a resistance level and given a positive signal for the long-term trading range. The stock has broken up through resistance at rupee 970. This predicts a further rise. Volume has previously been high at price tops and low at price bottoms. Volume balance is also positive, which strengthens the trend break. RSI above 70 shows that the stock has strong positive momentum in the short term. Investors have steadily paid more to buy the stock, which indicates increasing optimism and that the price will continue to rise. The stock is overall assessed as technically positive for the medium long term.
Recommendation: Positive
Latest days indices
AEX-0.43%870.27
CAC40-0.93%8016.65
COMPX-0.64%15612.00
DAX-0.95%17917
HEX-2.01%9726.30
N100-0.72%1504.95
OMXC25GI-1.98%2153.83
OMXSPI-1.32%937.06
OSEBX0.41%1358.86
PSI200.19%6542.23
TECDAX-1.00%3266.76
BUK100P0.46%806.44
EURUSD0.31%1.0700
CL (OIL)0.92%83.57
Indices Evaluations
 SML
AEXposneutralpos
CAC40posneutralpos
COMPXnegposneutral
DAXpospospos
HEXnegnegneg
N100pospospos
OMXC25GIneutralposneg
OMXSPIneutralpospos
OSEBXpospospos
PSI20pospospos
TECDAXnegnegneg
BUK100Ppospospos
EURUSDnegposneutral
CL (OIL)posposneutral

S: Short term.    M: Medium term.    L: Long term.
Stock Exchange barometer
Mumbai S.E. - Medium term
 
      
53% 34% 13%
 1986 Buy Candidates
 1271 Neutral
 459 Sell Candidates
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Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.


Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.

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