As the GDP data of India is declined to 4.50% in Q2 FY20 from 7% a year ago which grinded gains of Indian bourses due to global economic slowdown, impact domestic exports. The 50-stock bundles opened on a flat note at 12146.20 and erased all the morning gains. It is sustaining below Friday’s high of 12147.40 and if it breaks the previous high then it may reach to the further levels of 12250. Grasim, Bhartiartl and Reliance are top gainers while and Yesbank, Ongc and Eichermot are the top losers. Out of 2159 stocks, 703 shares are advanced, 1067 shares are declines and 436 shares are unchanged. Among sectoral indices, except metal, all the sectors are trading under pressure with IT index is the top loser by 0.93%. The index opened on a flat note at 15058.55 and made a low of 14819.55. The major support and resistance levels is 14560 and 15220. The index is trading below 50 days and 200 days simple moving average. The RSI is trading at 38.71 levels which indicate no sign of divergence. The Indian rupee is opened at 71.76 per dollar and currently trading at 71.75 per dollar.
Some stocks of this counter are also witnessing heavy volumes and momentum that are convincing the emerging trends.
TECHM: It is the top loser in the sector trading at 733.15 down by 3.72%. The delivery volume in the stock increased by 67.59% in current month. It is trading above 50 days and 100 days simple moving averages.
JUSTDIAL: It is the second top loser in the sector trading at 546 down by 3.53%. It is trading below 50, 100 and 200 days moving averages.
TATAELXSI: The stock is trading at 791.15 down by 1.96%. The delivery volume in the stock increased by 723.65% in current month. It is trading above 50 days and 100 days moving averages and below 20 and 200 days moving averages.