The Indian markets are trading on positive sentiments due to US- Sino trade progress. The index opened on a flat note and continued to witnessed bullish momentum and made an intraday high 11420.45. Nifty is sustaining above 50days and 200 days simple moving averages. Tatamotors, ONGC and Jswsteel are top gainers while INFY, Bajfinance and Cipla are top losers. Out of 2144 stocks, 991 are advanced, 781 are declines and 372 are unchanged. On indices upfront except IT, all the sectors led by metal, pharma, bank, financials are trading in green while reality is trading up by 2.59% at 253.70 . On daily scale, after a long negative movement index is recovering from its lower levels from a very strong support level of 235. The index is trading below 50 days and 200 days Simple Moving Average. RSI is trading back and forth in a narrow range of 35-60 levels. Although, Moving Averages and RSI are not the only indicators to dictate the future prices, one can make use of other tools like Fibonacci, Andrew Pitchfork, Chart and Harmonic Patterns.
Some stocks of this counter are also witnessing heavy volumes and momentum that are convincing the emerging trend.
- DLF: Top gainer in today’s session is trading at 156.20 levels, 7.28% up. The company has sold flats worth Rs. 700 crores in its housing project in Gurugram. The stock is trading above 50 days and 200 days moving average.
- Indiabulls Real Estate: In today’s trading session the stock is trading at 45.55 up by 4.95%. The company had proposed to buyback the equity share on October 11,2019.
- Godrej Properties: Godrej-led Realty Company is trading at 1,007.95 levels, 1.70% up. The stock is trading above 50 days Exponential Moving Average.