Analysis News

  • The best newsletter in the market
  • Customisable and personal
  • By e-mail every morning, for free

Receive Analysis News:

EMail:

Free daily newsletter every morning

Content
Signals
All indicators - Medium term
Mazagon Dock ShipbuildMay 17, 2024
Indian Railway CaterinMay 17, 2024
Nestle India Ltd.May 17, 2024
RailTel Corporation ofMay 17, 2024
JSW Steel Ltd.May 17, 2024

The market showed a small gain Friday, and S&P BSE SENSEX ended the day at 73917 points, which is an increase of 0.3 percent. The week as a whole showed a gain of 1.7 percent.

1984 shares showed a gain and 1315 showed a loss. 101 shares were unchanged and closed at the same price as the previous day. There was no trading in 310 shares.

Total value of the trading volume for shares and primary capital certificates Friday was approximately 68.2 billion.

Mazagon Dock Shipbuilders Ltd. closed at 2754 rupee after a solid gain of 12.9 percent. The previous time the stock gained this much was Jun 5. 2023, when it closed up 17.8 percent. The stock has now closed up for the fourth day in a row. The stock triggered a buy signal by the break up through the resistance at 2493 rupee in rectangle formation. A further increase to 3207 rupee within nine months is indicated.
Cochin Shipyard Ltd gained 5.1 percent to 1415 rupee. The stock thereby broke the previous record from Dec 2023 and set a new all time high. This past week the stock has gained as much as 15.0 percent. It also looks good technically. The stock is trend wise positive in the medium term, has broken up through resistance at 1370 rupee and a further increase is indicated.
Kirloskar Ferrous Industries Ltd. closed at 725 rupee after posting a gain of 20.0 percent. We must go back to Dec 22. 2005 to find an equally strong rise. That time the stock gained 21.7 percent. The stock has now closed up for the fifth day in a row. It was also very high volume. Overall it was traded for 430 millions rupee in the stock, which is 22 times as much as normal daily turnover. It also looks good technically. The stock is trend wise positive in the medium term, has support at 640 rupee and a further increase is indicated.
Dixon Technologies (India) Ltd closed at 8937 rupee after a solid gain of 8.3 percent. The previous time the stock gained this much was May 30. 2022, when it closed up 11.0 percent. It was also high volume. Overall it was traded for 949 millions rupee in the stock, which is five times as much as normal daily turnover. It also looks good technically. The stock is trend wise positive in the medium term, has support at 6600 rupee and a further increase is indicated.
Piccadily Agro Industries Ltd. moved up and ended at 780 rupee, which is an increase of 4.9 percent. The stock has now closed up for the fourth day in a row and this past month the stock has gained as much as 90.4 percent. The volume was also high. At session end it was bought and sold shares for about 1092 million rupee in the stock, which equals five times mean daily turnover. It also looks good technically. The stock is trend wise positive in the medium term, has support at 310 rupee and a further increase is indicated.

National S.E. weakly higher Friday
The market showed a small gain Friday, and Nifty 50 ended the day at 22466 points, which is an increase of 0.3 percent. The week as a whole showed a gain of 1.9 percent.

US 500 weakly higher Friday
The market showed a small gain Friday, and S&P 500 ended the day at 5303 points, which is an increase of 0.1 percent. The week as a whole showed a gain of 1.5 percent. The index has thereby closed up nine out of the past 12 days.

Indices
S&P BSE SENSEX
arrow green   Positive Candidate
S&P BSE SENSEX is in a rising trend channel in the medium long term. This shows that investors over time have bought the index at higher prices and indicates good development for the market. The index is moving within a rectangle formation between support at 72480 and resistance at 74903. A decisive break through one of these levels indicates the new direction for the index. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 72300 points. The index is overall assessed as technically positive for the medium long term.
Nifty 50
arrow green   Positive Candidate
Investors have paid higher prices over time to buy Nifty 50 and the index is in a rising trend channel in the medium long term. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. The index is moving within a rectangle formation between support at 21985 and resistance at 22700. A decisive break through one of these levels indicates the new direction for the index. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 22000 points. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. This weakens the rising trend and could be an early signal of a coming trend break. The index is overall assessed as technically positive for the medium long term.
S&P 500
arrow green   Positive Candidate
S&P 500 is in a rising trend channel in the medium long term. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. The index has marginally broken up through resistance at points 5260. An established break predicts a further rise. RSI is above 70 after a good price increase the past weeks. The index has strong positive momentum and further increase is indicated. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The index is overall assessed as technically positive for the medium long term.
Today´s Case
Somany Ceramics Ltd. (531548) Price 770.50, May 17, 2024
chart
Somany Ceramics Ltd. has broken up from an approximate horizontal trend channel in the medium long term after investors have paid ever more. A positive signal has been triggered and further increase for the stock is indicated. The price has also broken a resistance level and given a positive signal for the long-term trading range. The stock has broken up through resistance at rupee 760. This predicts a further rise. In case of negative reactions, there will now be support at rupee 760. Positive volume balance, with high volume on days of rising prices and low volume on days of falling prices, strengthens the stock in the short term. The short term momentum of the stock is strongly positive, with RSI above 70. This indicates increasing optimism among investors and further price increase for Somany Ceramics Ltd.. The stock is overall assessed as technically positive for the medium long term.
Recommendation: Positive
Latest days indices
AEX-0.03%913.25
CAC40-0.26%8167.50
COMPX-0.07%16686.00
DAX-0.18%18704
HEX-0.06%10385.00
N100-0.11%1552.86
OMXC25GI-0.57%2297.32
OMXSPI-0.23%990.72
OSEBX0.52%1416.42
PSI20-0.48%6887.38
TECDAX-0.37%3431.21
BUK100P-0.15%840.22
EURUSD-0.05%1.0900
CL (OIL)1.05%80.06
Indices Evaluations
 SML
AEXpospospos
CAC40posneutralpos
COMPXpospospos
DAXpospospos
HEXposneutralneg
N100pospospos
OMXC25GIpospospos
OMXSPIpospospos
OSEBXpospospos
PSI20pospospos
TECDAXposneutralpos
BUK100Ppospospos
EURUSDposneutralneg
CL (OIL)negposneutral

S: Short term.    M: Medium term.    L: Long term.
Stock Exchange barometer
Mumbai S.E. - Medium term
 
      
51% 36% 13%
 1898 Buy Candidates
 1328 Neutral
 490 Sell Candidates
Disclaimer Copyright © 2024 Investtech.com AS, Org nr 978 655 424 MVA


Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.

Cancel Analysis News
[ Back to default newsletter setup ]

Edit AnalysisNews

Register as a recipient of AnalysisNews in order to customise the content.
 


Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.


Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.

×

Please login here

 
Forgot your password?

Titlex

OK
+

Cookie consent

We use cookies to give you a better user experience. If you continue to use the website, you accept this. For further details click here.

Our use of cookies

When you use our website, we store a cookie on your device. The cookie is used to recognize your device so that your settings work when you use our websites. The information that is stored is completely anonymised. Cookies are automatically deleted after a certain time.

Necessary cookies

Investtech uses cookies to ensure basic functions such as page navigation and language selection. Without such cookies, the website does not function as it should. You cannot therefore make a reservation against these. If you still want to disable such cookies you can do so in your browser settings. In the Cookies section add this website to the list of sites which are not allowed to save cookies on your device.

Cookies from Google

We use services from Google Analytics and Google AdWords. These register cookies on your device when you visit our website. Google registers your IP address in order to keep statistics on user activity on the website. The IP address is anonymised, so that we have no opportunity to link the activities to a specific person. We use these statistics to be able to offer more interesting content on the website and to constantly improve ourselves. Google AdWords collects data so that our advertising on other websites gives better results. We cannot trace the data of individuals.

Allow cookies from Google