Market status: Confirmed Uptrend

Distribution days: Four

International stock markets: Dow 30, -.04% S&P 500, +.03% Nasdaq, +.six% Nikkei, -.4% Hang Seng, -.eight% Kospi, +.five%

Yesterday, markets created a new large in the morning, with Sensex moving above 50,000. However, it staged a downside reversal in the second half and closed in the red. As a volume in Nifty was larger in contrast with Wednesday's session, we marked yesterday’s session as a distribution day. https://ciudaddeoliva.gov.ar/css/slot-deposit-pulsa-tanpa-potongan/ The count is now elevated to 4, with 1 set to expire next week. On the sectoral front, Nifty Automobile closed flat, while the other indices closed with a lower. Nifty PSU Financial institution was down 3.three%. Nifty Metal, Realty, and Pharma closed at one.5–2.five% lower.

With leadership broadening and indices above relevant intermediate-term moving averages, we will continue to appear for leadership-high quality growth names to type entry factors. If a pullback/consolidation takes place, it will be crucial for Nifty to hold its 21-DMA. It is recommended to closely review the existing positions and book earnings in stocks that are extended from their moving averages and showing technical weakness. Also, tracking distribution days is vital as rising in distribution days can halt the uptrend.

Key Information

Reliance Industries, Hdfc Existence Insurance coverage Co, and Yes Bank will report their Q3 earnings these days.

Mphasis (Nse) posted Q3 FY21 earnings. PAT was up 8.8% q/q to Rs 325.five crore, whilst income rose one.6% q/q to Rs 2,474.3 crore. The margin was up 30bps q/q to 16.4%.

J K Tyre & Inds. posted Q3 FY21 earnings. Revenue was up 26% y/y to Rs two,769.3 crore, while PAT stood at Rs 230.seven crore as against Rs 108.9 crore for the identical quarter final year.

O’Neil Market Situation Report

For the 24 emerging markets tracked by our institutional research group, the market status breakdown is as follows: Confirmed Uptrend, 84% Rally Attempt, 4% Uptrend Beneath Pressure, 12% Downtrend, %.

For the 24 produced markets tracked by our institutional study team, the industry standing breakdown is as follows: Confirmed Uptrend, 66% Rally Attempt, % Uptrend Beneath Strain, 34% Downtrend, %.

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