Tuesday, January 21, 2020

MARKET IN BEARISH TREND


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 Today Sensex and Nifty was  traded  in bearish & closed 0.50% lower side led by losses in metal stocks such as Tata Steel and Vedanta Ltd. The  Sensex  was slipped 0.49 % to 41323 & the Nifty  declined 0.45 % to 12169.The market was breadth tilted in favour of sellers. Zeel, ICICIPRULI, HDFCAMC, HAVELLS, & INDIAMART are among the companies that will release their December quarter number today. HDFC Bank, Kotak Mahindra Bank were both down about 0.6% each while Tata Steel, M&M, Hero MotoCorp and Asian Paints fell between 1% and 2%.Elsewhere, shares of Vodafone Idea surged 15% today & Shares of Federal Bank climbed almost 3 percent in early trade today, a day after the company posted a 32% increase in net profit at Rs 440crore for December quarter 2019-20. Tomorrow's Result Prediction of RBLBANK will bearish. The stock has broken weekly support. An up move can be expected only after it starts trading above 330.4 Stock is in a downtrend for short term, and we will suggest to avoid taking a LONG trade in this stock. Look for opportunities to SHORT RBL Bank RBLBANK at this time while Axis Bank trend for this week will be positive, which means Axis Bank target predictions on upside have a better chance. Axis Bank targets for this week are 754.7, 776.9 in uptrend & 725.1, 680.71 on the downside market.
TOP GAINERS-INFRATEL,ZEEL,BPCL,HDFC,RELIANCE
TOP LOSERS-TATASTEEL,ASIANPAINT,MARUTI,VEDL,IOC

TOMORROW'S RESULT- AXISBANK, RBL, L&T,CEAT, ASIANPAINT

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