Motherson Sumi price action shows a possible short term trend reversal post hitting all time high yesterday with resistance getting built around 490 reference. Sentiment turned negative on the daily charts post the price rejecting from the all time high. Short term corrections are expected as long liquidations and profit booking is expected in this counter.
RRG Charts shows how world indices is positioned relative to S&P 500. BSE Sensex and Chinese SSEC are showing positive momentum. Hook reversal witnessed in BSE Sensex with regaining momentum and relative strength. Other world Indices like Nikkei , Hang Seng, CAC, DAX , FTSE are showing increased momentum but with decreased relative strength which indicates possible underperformance in the very near term for these indices relative to S&P 500
Rating Agencies like ICRA, CARE and moody's downgraded RCOM on Tuesday (30th May 2017). Moody’s cut RCom’s debt ratings to Caa1 from B2, suggesting very high risk of default.
L&T futures today formed a bearish outside bar as the price rejected at its 52 week high. It is a strong trend reversal setup. Monitor for the resistance build up around 1818 zone.
Jindal Steel is showing short term price rejection setup on the 30min time frame. Its good to monitor for short term correction with resistance around 127-130 zone. Short Term trading sentiment is negative. Consecutive 5 day trend of making higher high is observed. On Wednesdays intraday session it also tested the 18th April high before price rejection at the top.
Nifty Smallcap and Midcap stocks are in correction mode and fallen from the peak in the last 6 consecutive days. Nifty SmallCap and Nifty Midcap index had lost 6.3% and 4.4% respectively. However Nifty 50 largecap had lost only 0.7% for this week. Both Smallcap and Midcap indices are underperforming Nifty 50 index largely.
Moody's Investor service - Credit Rating Agency downgraded China’s sovereign credit rating for the first time in nearly 30 years,citing expectations that the country’s financial strength will deteriorate in the coming years as debt keeps rising and the economy slows.
If you are classical technical analysis user probably this might turn your attraction on gold weekly charts. Yes Gold is firmly trading above the 200 Week Moving Average after about a bunch of whipsaw around the 200 Weekly MA reference.So what do you think Gold Bulls are turning around? Current 200 WMA around 1235/Oz.
Brokers Stocks like Motilal Oswal and Edelweiss made exponential returns since 2014 last time similar exponential returns it generated during 2008 sub prime crisis.
Yes Bank had reported gross bad loans of Rs748.98 crore at the end of March 2016 compared to Rs4,925 crore assessed by the RBI. Yes Bank shares fell by 5% intraday after the lender disclosed this information in its annual report for fiscal year 2017 released on Friday trading session. Stock also broken down below 6 week low with strong volumes.