Wednesday , January 27 2021

after hours: after hours: Sensex key engines; bearish signal on 110 stocks

NEW DELHI: Major stock indexes Sensex and Nifty ended the session on Monday with healthy growth, helped by a star show of heavyweights, including Reliance Industries, ITC and HDFC Bank.

The growth of the share on the third day in a row, Nifty exceeded the 200-DMA in the amount of 10,730, which indicates an increase in potential in the coming days, since Dalal Street experts believe that the index may move another 2 percent after a clear breakthrough above the level of 10,750.

Nifty50 finished with a gain of 81 points, or 0.76 percent, at the level of 10,763.40, with 37 shares dropping with a profit and 13 with losses. The 30 percent Sensex finished 318 points, or 0.90 percent, to 35,774.88, with 24 stocks in green.

Market sentiment throughout the day remained positive with respect to buying in all sectors, even when participants looked at the results of the RBI board meeting to discuss issues ranging from the liquidity crisis in the NBFC space to the rules for lending to banks.

Solid global signals and the growth of the rupee against the US dollar also strengthened the sentiment.

We take you through the highlights of the session on Monday:

Who moved my sensex?

Reliance Industries, ITC, HDFC Bank, YES Bank, Larsen & Toubro and Tata Consultancy Services were the best contributors to the rally in Sensex wallet stocks. The top three are ICICI Bank, State Bank of India, ONGC, Axis Bank and Asian Paints. Bank YES closed at 7.19%, leading the package of volume growth indices.

YES Bank Surge

YES shares closed the day at 205.05 rupees, which is 7.19% more than the search panel, which hopes to find a successor to Rana Kapoor, to lead the DA Bank has published several titles. The names that pass the rounds for the next chairman of the board of YES include Zarina Daruvalu (CEO, Standard Chartered Bank), PS Jayakumar (Managing Director and Chief Executive Officer of Bank of Baroda), V. Srinivasan (Deputy Managing Director, Axis Bank), Pralay Mondal (Senior President, Retail and Business, YES) and Rajat Monga (Senior President and Chief Financial Officer, Yes Bank).

Oil and gas single sector loser

The BSE Oil & Gas index became a single industry loser due to losses in GAIL (2.11%), Castrol India (by 1.75 percent), ONGC (by 1.37 percent) and IGL (by 0.60 percent), The index closed at 13,600.44, up 0.21 percent. Profit in RIL (growth by 1.96 percent), Oil India (growth by 0.93 percent), HPCL (growth by 0.53 percent) and BPCL (by 0.45 percent) limited index losses.

Surge in open interest

With a change of 80.79 percent, Jet Airways witnessed the biggest surge in open interest on the NSE. It was followed by Siemens (45.87 percent), Oil India (17.59 percent), HCC (16.37 percent) and NTPC (15.96 percent).

Over 200 stocks hit lower

As many as 223 stocks, such as IFSL, Albert David, Perfectpac, Uni Abex Alloy Products and Shree Ganesh Biotech (India), did not cope with the positive mood on the market and today have reached their lower contours at BSE.

However, 197 stocks, including Ravalgaon Sugar Farm, Cochin Minerals & Rutile, Pacific Industries, Bhagiradha Chemicals & Industries and Binayak Tex Processors, fell into the respective upper schemes on the BSE.

Overbought and oversold stocks

Momentum Oscillator Relative Strength Index (RSI) on Monday showed 58 stocks in the oversold area of ​​BSE. Among the stocks that entered the oversold zone were Pincon Spirit, Esaar (India), Yamini Investments, Mega Corporation and Regent Enterprises.

On the other hand, Adani Transmission, Venus Remedies, Tata Investment, Darjeeling Ropeway, Coastal Corporation and Sangal Papers are among the 37 stocks that entered the oversold area on the BSE, according to RSI.

Bear Signal on 110 promotions

Momentum indicator of convergence moving average divergence, or MACD, showed a bearish crossover at 110 counters on the BSE. Among the stocks that saw negative crossovers were Jindal Saw, JSW Steel, IGL, Trident, MOIL and Cholamandalam Investment. However, 43 stocks, including Wipro, Vedanta, Allahabad Bank, Hindalco and Shailja Commercial, showed bullish crossovers at BSE.

ITC, Ultratech Cement, Hindalco above 200-DMA

ITC, Ultratech Cement, Hindalco, 3i Infotech, V-Mart Retail, Bank of Maharashtra and Bank Corporation were among the stocks traded above their 200-DMA today. On the other hand, Zensar Tech, Majesco, Aarti Drugs, Hindustan Oil Exploration Company and NHPC are trading below their 200-DMA today.

Call / Writing a Letter

On the front options, the maximum positive percentage was 10,000, followed by 10,200 shots, while the maximum Call OI was seen at 10,800, and then 11,000 hits. “A significant“ Writing ”entry was seen at around 10,700, and then by 10,600 shocks, which indicates that support moves higher, while the unfolding of calls was seen in all the nearest strikes with an insignificant charge of calls with 11,000 strikes. The range of options means a wider range of trading from 10,600 to 10,850 levels, said Chandan Taparia of Motilal Oswal Securities.

Nifty Technical View

“Broader market indices are still stuck in the consolidation range. However, they are on the verge of breaking up. This will add fuel to the upstream moment. Overall, Nifty looks ready for 11 000-11 140 in the short term. On the other hand, now 10,630-10,600 will act as a key support zone, ”said Baurat Ratnaparhi, senior technical analyst at Sharekhan BNP Paribas.

Source link