The 50-bundle stocks are opened on a gap down note at 11987.15 abnd the correction phase is continue in the counter. Nifty is trying to sustain on the levels of 12000 but unable to maintain so. On daily chart, it is sustaining above the levels of 11900. It is consolidating in the range of 11900 to 12030.
Yesbank, Indusindbk and Icicibank are top gainers while Infratel, Upl and Gail are the top losers. Out of 2142 stocks, 818 are advanced, 867 are declines and 457 are unchanged. Among sectors, IT, fmcg, metal and pharma are trading under pressure while bank, auto, financials, media and reality are trading in green with reality index up by 2.46%. The index opened on a flat note at 278.65 and made a high of 284.70. The counter is trading below its strong resistance level of 287.15. A bullish movement will be seen in the index when it breaks the resistance level. The index is trading above 50 days and 200 days simple moving average. RSI is trading at 70.20 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.
DLF: It is among the top gainer in the sector trading at 206.90 up by 7.48%.The counter is added in the Morgan Stanley Capital International (MSCI) India Domestic Index. The company also reported 19% surged in its net profit at Rs. 445.90 crore than previous Rs.374.40 crore. It is sustaining above 50 days and 100 days moving average.
IBREALEST: It is among the top gainer in the sector trading at 73.35 up by 4.49%. In daily chart it is sustaining above 50 and 100 days moving average. The stock is trading above its strong support level of 63.20.
BRIGADE: In today’s trading session it is trading at 215.40 up by 3.93%. It is trading near its 52-weak high. It is sustaining above 50 days and 100 days moving average.