Earlier in the morning, the index saw a gap-down opening after RBI Chairman Urjit Patel suddenly resigned post market hours on Monday, along with jitters among investors who bet on a stable government added to the negative sentiment. In fact, overnight, the SGX Nifty futures fell 450 points as well, bracing investors to take a negative opinion on the markets.
On Monday Morning 3rd Sep 2018 market opened positively, however, price topped out in the very first minute since then Nifty Futures approximately drowned 466 points or 3.96% since the News on 8.2% GDP growth. Infact this is the highest growth in two years and strongest since the first quarter of 2016. So what do you think about trading such extreme positive news factors? Record your comments below.
Lupin CFO resignation Announcement came post market hours on 27th Nov 2018. Next day Share price of pharma major Lupin declined more than 2 percent in the early trade on Wednesday after resignation of company’s CFO. However Lupin bottomed out in the first 1min of trade and manage to recover the losses very quickly followed by 1.86% gain on EOD.
How Bank Nifty reacted to RBI resignation news. Charts are interesting as Bank Nifty reacted to the news temporarily however in both the Mr Raghuramrajan and Mr Urjit patel case Bank Nifty manage to recover intraday and such sentiments affects the markets temporarily and the sentiment vanishes once the recovery is made in Bank Nifty
Lupin Daily chart shows responsive coppock oscillator turned positive which indicates a potential long-term trend could emerge with potential support coming around 860. Higher timeframes are continuing with positive sentiment. Buy on momentum is the strategy to practice in Lupin.. Price is expected to reach the destination target 1405 in a span of 4-6 months.
Nifty Futures 1min Charts India’s GDP grows at 8.2 percent in 2018-19 Q1. As per RBI, India’s economic growth is expected to accelerate to 7.4 percent in the current fiscal year that began in April. GDP Growth a major economic release came on Friday evening 31st Aug 2018. It left a huge positive tone on [...]
Some time back in Mid of July 2018 ICICI Bank is one of the worst performing stocks in Bank Nifty and all in a sudden it became top-performing stocks. Too much of negative news flow was there in that counter despite that stock managed to close positive and moved from 260 to 330 levels in a very short duration.
Reliance on the hourly timeframe momentum is drying up. Interestingly Reliance Industries (RIL) on Friday reported Rs 9,435 crore consolidated profit for the March quarter, its highest quarterly profit. Reliance earned about $11 for every barrel of crude processed into fuel in the fourth quarter as compared to $11.6 per barrel in the three months ended December.
Reliance is trading in a broader range on the 4 hourly charts 870-950. Immediate selling pressure is witnessed in reliance as the indicator sentiment is holding negative and trading very close to the bottom range. It could add more pressure to Nifty futures if further sell-off is likely to witness in reliance. Immediate long term supports available at 200MA at 860 levels.
Andhra Bank on Monday plunged more than 14% intraday after the Enforcement Directorate on Friday filed a charge sheet against former Andhra Bank director Anup Prakash Garg in connection with a Rs 5,000 crore bank fraud involving Sterling Biotech Ltd (SBL) of the Sandesara group of companies. Volume was heavy indicating long term players in control in the markets.