Due to weak global cues, the Indian benchmark indices are opened on a flat note and trading in a roller coaster ride. In afternoon session the 50-bundle stocks are consolidating in a range of 11830 to 11900 levels. It is sustaining above 50 days and 200 days simple moving averages. The strong resistance and support levels are placed at 11920 and 11800. Zeel, Indusindbk and Infratel are top gainers while Yesbank, TCS and M&M are the top losers. Out of 2144 stocks, 1042 are advanced, 730 are declines and 372 are unchanged. Among sectors, except IT and auto all the other sectors are trading in green with Media up by 6.49%. On daily chart, the index opened on a flat note at 1794.55. The counter breaks the strong resistance level of 1805 and made a high of 1917.45 which is almost 122.95 points up from the day low. The index is trading at 50 days simple moving average and below 200 days Simple Moving Average. RSI is trading at 65.15 levels which is not indicating any sign of divergence. 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 trends.
DISHTV: The counter is top gainer in the media sector in today’s trading session. It is trading at 15.70 up by 25.60%. It is sustaining above 50 days and 100 days moving average.
ZEEL: In today’s trading session it is trading at 297.70 up by 14.24% up. It is sustaining above 50 days and 100 days moving average.
TVBRDCST18: It is among the top three top gainer in the sector trading at 25.80 up by 4.88% up. In daily chart it is sustaining above 50 and 100 days moving average.