Nifty gives in to bear power. All major indices have closed with an above 3% loss in their values. Industrial and Financial sectors got pounded, Bank NIFTY closes down sharply showing more strength to breach the 10000 barrier without much effort.
Our managed futures accounts have hit new high on their earnings. NIFTY futures trading account on trend following reaches 34% gains in 110 days of trading.
Our India King's has lost 3.68% as against 3.11% on Nifty and 3.00% on Sensex, showing more bear strength. ICICIBANK, DRREDDY & LT have succumbed above 4% in their values. Breweries and LCV/HCV industry groups have registered above 7% loss on their index value.
Sugar Industry is one of the top losers today, but BAJAJHIND from the sugar pack shows strength on its hourly charts. There has been huge volumes towards closing, a 625% volume increase with no new lows at the closing indicates that there can be a swift rally in this stock. RENUKA, the leader in the Sugar Industry group though had large volumes has punched a new intraday low at the closing hour.
Our managed futures accounts have hit new high on their earnings. NIFTY futures trading account on trend following reaches 34% gains in 110 days of trading.
Our India King's has lost 3.68% as against 3.11% on Nifty and 3.00% on Sensex, showing more bear strength. ICICIBANK, DRREDDY & LT have succumbed above 4% in their values. Breweries and LCV/HCV industry groups have registered above 7% loss on their index value.
Sugar Industry is one of the top losers today, but BAJAJHIND from the sugar pack shows strength on its hourly charts. There has been huge volumes towards closing, a 625% volume increase with no new lows at the closing indicates that there can be a swift rally in this stock. RENUKA, the leader in the Sugar Industry group though had large volumes has punched a new intraday low at the closing hour.
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