The 50-bundle stocks are opened on a gap up note and further all the morning gains are erased in the market. In today’s trading session, bears are more active and some profit booking is taken place. On daily chart, it is sustaining above 50 days and 200 days simple moving averages. Upl, Yesbank and Infratel are top gainers while Grasim, Sunpharma and Zeel are the top losers. Out of 2140 stocks, 680 are advanced, 1022 are declines and 438 are unchanged. Among sectors, all the sectors like Auto, Fmcg, Media, Reality, IT, bank, financial are trading in red and pharma with 1.04% down. On daily chart, the index opened on a flat note at 7957.90 and it is trading at 7856.15. The formation of “Spinning Top” a candle stick pattern which indicates the indecisiveness in the market i.e. bulls and bears both are active but the prices are closed near to the prices where it opens. The index is trading above 50 days moving average and below 200 days moving average. RSI is trading at 57.44 levels which is not indicating any sign of divergence.
Some stocks of this counter are also witnessing heavy volumes and momentum that are convincing the emerging trends.
SUNPHARMA: It is among the loser in the sector trading at 425.20 down by 2.91% down. In daily chart it is sustaining below 50 and 100 days moving average.
DIVISLAB: The counter is top second loser in the pharma sector in today’s trading session. It is trading at 1688.20 down by 2.71%. It is sustaining above 50 days and 100 days moving average.
BIOCON: In today’s trading session it is trading at 256.95 down by 2.52%. It is sustaining below 50 days and 100 days moving average.