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Content
Signals
All indicators - Medium term
Asian Paints Ltd.Apr 19, 2024
Union Bank of IndiaApr 19, 2024
Balu Forge Industries Apr 19, 2024
Ujjivan Small Finance Apr 19, 2024
Trent Ltd.Apr 19, 2024

The market showed a small gain Friday, and S&P BSE SENSEX ended the day at 73088 points, which is an increase of 0.8 percent. The week as a whole showed a loss of 1.6 percent. The index thereby reversed up after five days of losses.

1422 shares showed a gain and 1860 showed a loss. 100 shares were unchanged and closed at the same price as the previous day. There was no trading in 327 shares.

Total value of the trading volume for shares and primary capital certificates Friday was approximately 75.2 billion.

Sangam Renewables Ltd. moved up and ended at 2380 rupee, which is an increase of 4.7 percent. The stock has now risen for the fifth day in a row and this past week the stock has gained as much as 33.0 percent. It also looks good technically. The stock is trend wise positive in the medium term, has support at 275 rupee and a further increase is indicated.
Moschip Technologies Ltd. was up 2.6 percent to close at 136 rupee. The stock has by that gained 25.3 percent since the buy signal from the rectangle formation two days ago.
Fortis Malar Hospitals Ltd closed up 10.0 percent to 98.13 rupee. The stock thereby broke the previous record from Aug 2016 and set a new all time high. The stock has now risen for the fourth day in a row and this past month the stock has gained as much as 104.6 percent. The volume was also very high. At session end it was bought and sold shares for about 118 million rupee in the stock, which equals 20 times mean daily turnover. Technically it also looks good. The stock has support at 85.50 rupee.
Eldeco Housing & Industries Ltd. rose sharply to close at 1133 rupee, up 17.4 percent. We must go back to Jun 26. 2023 to find an equally strong rise. That time the stock gained 19.3 percent. The stock has thereby closed up 13 out of the past 18 days. The stock is with that up 23.4 percent after the buy signal from the rectangle formation one week ago. The volume was also very high. At session end it was bought and sold shares for about 36 million rupee in the stock, which equals 28 times mean daily turnover.
K.M. Sugar Mills Ltd. moved up and ended at 42.44 rupee, which is an increase of 17.8 percent. The stock thereby broke the previous record from Apr 2022 and set a new all time high. This past week the stock has gained as much as 31.4 percent. It was also very high volume. Overall it was traded for 66 millions rupee in the stock, which is 26 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 37.20 rupee and a further increase is indicated.

National S.E. turned upwards
The market showed a small gain Friday, and Nifty 50 ended the day at 22147 points, which is an increase of 0.7 percent. The week as a whole showed a loss of 1.7 percent. The index thereby reversed up after five days of losses.

US 500 falls for the fifth day in a row
The market showed a small loss Thursday, and S&P 500 ended the day at 5011 points, which is a decline of 0.2 percent. The index has now closed down for the fifth day in a row and this past week the index has lost as much as 3.6 percent.

Indices
S&P BSE SENSEX
arrow green   Positive Candidate
Investors have paid higher prices over time to buy S&P BSE SENSEX and the index is in a rising trend channel in the medium long term. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. The index has support at points 67500 and resistance at points 74700. The index is assessed as technically positive for the medium long term.
Nifty 50
arrow yellow   Neutral
Investors have paid higher prices over time to buy Nifty 50 and the index is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The index has support at points 19350 and resistance at points 22650. 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 neutral for the medium long term.
S&P 500
arrow yellow   Neutral
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 neutral for the medium long term.
Today´s Case
Elecon Engineering Co. Ltd. (505700) Price 1166.60, Apr 19, 2024
chart
Elecon Engineering Co. Ltd. shows strong development within a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The price has also broken a resistance level and given a positive signal for the long-term trading range. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the stock has support at approximately 940 rupee. The short term momentum of the stock is strongly positive, with RSI above 70. This indicates increasing optimism among investors and further price increase for Elecon Engineering Co. Ltd.. The stock is overall assessed as technically positive for the medium long term.
Recommendation: Positive
Latest days indices
AEX-0.62%860.01
CAC40-0.01%8022.41
COMPX-0.52%15601.00
DAX0.38%17837
HEX0.71%9837.57
N100-0.33%1495.86
OMXC25GI0.68%2182.04
OMXSPI-0.57%936.75
OSEBX-0.10%1341.22
PSI201.50%6327.70
TECDAX-1.42%3210.84
BUK100P0.19%788.44
EURUSD-0.16%1.0600
CL (OIL)0.05%82.73
Indices Evaluations
 SML
AEXpospospos
CAC40posneutralpos
COMPXnegposneg
DAXnegpospos
HEXneutralneutralneg
N100posneutralpos
OMXC25GIneutralneutralneutral
OMXSPIneutralpospos
OSEBXpospospos
PSI20negpospos
TECDAXnegneutralneg
BUK100Pneutralpospos
EURUSDnegnegneg
CL (OIL)posposneutral

S: Short term.    M: Medium term.    L: Long term.
Stock Exchange barometer
Mumbai S.E. - Medium term
 
      
48% 36% 16%
 1790 Buy Candidates
 1328 Neutral
 597 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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