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Content
Signals
All indicators - Medium term
Bharat Heavy ElectricaApr 24, 2024
NMDC Ltd.Apr 24, 2024
JSW Energy LtdApr 24, 2024
RailTel Corporation ofApr 24, 2024
Dixon Technologies (InApr 24, 2024

The market showed a small gain Wednesday, and S&P BSE SENSEX ended the day at 73853 points, which is an increase of 0.2 percent. The index has now closed up for the fourth day in a row.

1933 shares showed a gain and 1388 showed a loss. 81 shares were unchanged and closed at the same price as the previous day. There was no trading in 307 shares.

Total value of the trading volume for shares and primary capital certificates Wednesday was approximately 62.6 billion.

Moschip Technologies Ltd. was up 4.8 percent to close at 168 rupee. The stock has now risen for the sixth day in a row. The stock has by that gained 55.0 percent since the buy signal from the rectangle formation one week ago.
Steel Authority of India Ltd. developed positively, and gained 8.2 percent to a close of 165 rupee. We must go back to Apr 2011 to find a higher close for the stock. The stock has now closed up for the fourth day in a row and this past month the stock has gained as much as 30.9 percent. The volume was also high. At session end it was bought and sold shares for about 2286 million rupee in the stock, which equals six times mean daily turnover. It also looks good technically. The stock is trend wise positive in the medium term, has support at 103 rupee and a further increase is indicated.
Sangam Renewables Ltd. developed positively, and gained 5.0 percent to a close of 2755 rupee. The stock has now closed up for the eighth day in a row and this past month the stock has gained as much as 86.4 percent. Technically it also looks good. The stock is trend wise positive in the medium term, has support at 280 rupee and a further increase is indicated.
Aster DM Healthcare Ltd developed negatively and fell 4.0 percent to a close of 383 rupee. The stock thereby broke the earlier bottom it set Jan 15 and reached a new year-low. The stock has now closed down for the fourth day in a row and this past week the stock has lost as much as 26.3 percent. It does not look good technically either. The stock is trend wise positive in the medium term, but has broken down through support at 400 rupee.
IIFL Wealth Management Ltd was up 5.0 percent to close at 801 rupee. The stock has not closed higher since Mar 2023. It was also very high volume. Overall it was traded for 262 millions rupee in the stock, which is 12 times as much as normal daily turnover. It also looks good technically. The stock is trend wise positive in the medium term and a further increase is indicated.

National S.E. rises for the fourth day in a row
The market showed a small gain Wednesday, and Nifty 50 ended the day at 22402 points, which is an increase of 0.2 percent. The index has now closed up for the fourth day in a row.

US 500 approximately even on Wednesday
S&P 500 moved more or less horizontally on Wednesday and closed at 5072 points (+0.0 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 72601 and resistance at 75038. 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   Weak Positive Candidate
Nifty 50 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 is moving within a rectangle formation between support at 22032 and resistance at 22748. A decisive break through one of these levels indicates the new direction for the index. The index is approaching support at 22000 points, which may give a positive reaction. However, a break downwards through 22000 points will be a negative signal. 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 slightly 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
Dixon Technologies (India) Ltd (540699) Price 8151.15, Apr 24, 2024
chart
Investors have paid higher prices over time to buy Dixon Technologies (India) Ltd and the stock is in 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 in the short term and given a positive signal for the short-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 6550 rupee. 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. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The stock is overall assessed as technically positive for the medium long term.
Recommendation: Positive
Latest days indices
AEX-0.09%874.02
CAC40-0.17%8091.86
COMPX0.10%15713.00
DAX-0.27%18089
HEX-0.53%9925.43
N100-0.19%1515.79
OMXC25GI-1.26%2197.27
OMXSPI-0.43%949.57
OSEBX1.01%1353.28
PSI20-0.95%6529.93
TECDAX0.39%3299.60
BUK100P-0.07%802.78
EURUSD-0.14%1.0700
CL (OIL)-0.66%82.81
Indices Evaluations
 SML
AEXposneutralpos
CAC40posneutralpos
COMPXposposneutral
DAXposneutralpos
HEXneutralposneutral
N100pospospos
OMXC25GIneutralposneutral
OMXSPIneutralpospos
OSEBXpospospos
PSI20pospospos
TECDAXnegnegneutral
BUK100Ppospospos
EURUSDnegnegneg
CL (OIL)posposneutral

S: Short term.    M: Medium term.    L: Long term.
Stock Exchange barometer
Mumbai S.E. - Medium term
 
      
53% 35% 12%
 1954 Buy Candidates
 1315 Neutral
 446 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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