National S.E. weakly higher Thursday

The market showed a small gain Thursday, and Nifty 50 ended the day at 22648 points, which is an increase of 0.2 percent. The index has thereby closed up seven out of the past nine days.

599 shares showed a gain and 673 showed a loss. 20 shares were unchanged and closed at the same price as the previous day. There was no trading in 11 shares.

Total value of the trading volume for shares and primary capital certificates Thursday was approximately 1053.3 billion.

Rural Electrification Corporation Limite closed up 9.2 percent to 554 rupee. The stock thereby broke the previous record from Feb 8 and set a new all time high. The stock has now risen for the eighth day in a row and this past month the stock has gained as much as 20.0 percent. Technically it also looks good. The stock is trend wise positive in the medium term, has broken up through resistance at 500 rupee and a further increase is indicated.
Asian Paints Limited rose sharply to close at 2975 rupee, up 3.5 percent. The stock has never gained more in one day since Mar 9. 2022, when it was up 5.6 percent. The stock broke up through the resistance at 2948 rupee in rectangle formation. This triggered a buy signal on increasing volume and a further increase to 3061 rupee within two months is indicated.
Biocon Limited was up 4.1 percent to close at 311 rupee. We must go back to Aug 2022 to find a higher close for the stock. The stock has thereby closed up 18 out of the past 26 days and this past month the stock has gained as much as 20.6 percent. Technically it also looks good. The stock is trend wise positive in the medium term, has support at 300 rupee and a further increase is indicated.
MOIL Limited closed up 8.7 percent to 441 rupee. This gave the stock a new all time high for the seventh time this year. Since the buy signal from the double bottom formation one month ago, the stock now has gained 43.5 percent. It was also high volume. Overall it was traded for 7385 millions rupee in the stock, which is three times as much as normal daily turnover.
Steel Authority of India Limited increased slightly 0.8 percent and ended the day at 165 rupee. The stock has thereby closed up 23 out of the past 30 days and this past month the stock has gained as much as 26.7 percent. Technically it also looks good. The stock is trend wise positive in the medium term, has support at 120 rupee and a further increase is indicated.

Winners Thursday

Pearl Polymers Limited19.89%
TVS Electronics Limited19.37%
Atul Auto Limited13.01%
Amrutanjan Health Care Lim12.15%
Geojit Financial Services 10.40%

Losers Thursday

Indo-National Limited-16.09%
De Nora India Limited-15.69%
Godrej Industries Limited-6.92%
Foseco India Limited-5.81%
Aegis Logistics Limited-5.81%

Most traded Thursday

Rural Electrification Corp46062.43
Kotak Mahindra Bank Limite41976.07
ICICI Bank Limited28621.09
Power Finance Corporation 26084.02
HDFC Bank Limited25646.04

Today's free analyses IDFC First Bank Ltd.

 


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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.

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