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Content
Signals
All indicators - Medium term
Canara BankMay 15, 2024
Ashok Leyland Ltd.May 15, 2024
Suzlon Energy Ltd.May 15, 2024
Adani Green Energy LtdMay 15, 2024
Aster DM Healthcare LtMay 15, 2024

The market showed a small loss Wednesday, and S&P BSE SENSEX ended the day at 72987 points, which is a decline of 0.2 percent.

1876 shares showed a gain and 1406 showed a loss. 107 shares were unchanged and closed at the same price as the previous day. There was no trading in 321 shares.

Total value of the trading volume for shares and primary capital certificates Wednesday was approximately 54.8 billion.

Shakti Pumps (India) Ltd. was up 3.4 percent to close at 2467 rupee. The stock has now risen for the fourth day in a row and this past month the stock has gained as much as 67.3 percent. It was also high volume. Overall it was traded for 358 millions rupee in the stock, which is ten times as much as normal daily turnover. Technically it also looks good. The stock is trend wise positive in the medium term, has support at 1540 rupee and a further increase is indicated.
D-Link (India) Ltd. ended with a solid gain of 9.8 percent and closed at 439 rupee. The stock has now risen for the fourth day in a row and this past month the stock has gained as much as 39.7 percent. It was also high volume. Overall it was traded for 141 millions rupee in the stock, which is nine times as much as normal daily turnover. Technically it also looks good. The stock is trend wise positive in the medium term, has support at 330 rupee and a further increase is indicated.
Canara Bank closed at 119 rupee after a huge loss of 79.0 percent. The stock has never lost more in one day since we started measuring this Apr 1. 2003. It was also high volume. Overall it was traded for 301 millions rupee in the stock, which is six times as much as normal daily turnover. The stock has resistance at 330 rupee.
Life Insurance Corporation of India ended with a solid gain of 6.3 percent and closed at 990 rupee. The previous time the stock gained this much was Dec 4. 2023, when it closed up 7.3 percent. It was also high volume. Overall it was traded for 769 millions rupee in the stock, which is six times as much as normal daily turnover. It also looks good technically. The stock is trend wise positive in the medium term and a further increase is indicated.
Gennex Laboratories Ltd ended with a solid gain of 17.0 percent and closed at 18.16 rupee. We must go back to Oct 9. 2023 to find an equally strong rise. That time the stock gained 19.1 percent. The volume was also very high. At session end it was bought and sold shares for about 203 million rupee in the stock, which equals 21 times mean daily turnover. Technically it also looks good. The stock is trend wise positive in the medium term and a further increase is indicated.

National S.E. approximately even on Wednesday
Nifty 50 moved more or less horizontally on Wednesday and closed at 22201 points (-0.1 percent).

Highest close since Mar 28.
The market moved up Tuesday, and S&P 500 ended at 5247 points, which is an increase of 0.5 percent. The index has not closed higher since Mar 28. The index has thereby closed up seven out of the past nine days.

Indices
S&P BSE SENSEX
arrow yellow   Neutral
S&P BSE SENSEX shows strong development within a rising trend channel in the medium long term. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. The price has reacted back after a false break of the rectangle formation. A significant penetration of 72854 will again give new negative signals to the index, while a break of the opposite side of the formation will be a strong positive signal. The index has support at points 67700 and resistance at points 74700. The RSI curve shows a falling trend, which is an early signal of a possible trend reversal downwards for the price as well. The index is overall assessed as technically neutral for the medium long term.
Nifty 50
arrow red   Negative Candidate
Investors have paid higher prices over time to buy Nifty 50 and the index is in a rising trend channel in the medium long term. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. The index is moving within a rectangle formation between support at 21982 and resistance at 22690. A decisive break through one of these levels indicates the new direction for the index. The index is approacing resistance at 22650 points, which may give a negative reaction. However, a break upwards through 22650 points will be a positive signal. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. This weakens the rising trend and could be an early signal of a coming trend break. The RSI curve shows a falling trend, which is an early signal of a possible trend reversal downwards for the price as well. The index is overall assessed as technically negative for the medium long term.
S&P 500
arrow green   Weak Positive Candidate
Investors have paid higher prices over time to buy S&P 500 and the index is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The index is testing resistance at points 5250. This could give a negative reaction, but an upward breakthrough of points 5250 means a positive signal. The index is assessed as technically slightly positive for the medium long term.
Today´s Case
Oberoi Realty Limited (533273) Price 1575.15, May 15, 2024
chart
Oberoi Realty Limited is in a rising trend channel in the medium long term. This shows that investors over time have bought the stock at higher prices and indicates good development for the company. The price has also broken a resistance level and given a positive signal for the long-term trading range. The stock has marginally broken up through resistance at rupee 1570. An established break predicts a further rise. Positive volume balance shows that volume is higher on days with rising prices than days with falling prices. This indicates increasing optimism among investors. The stock is overall assessed as technically positive for the medium long term.
Recommendation: Positive
Latest days indices
AEX-0.14%910.63
CAC400.20%8225.80
COMPX0.75%16511.00
DAX-0.14%18716
HEX-0.56%10313.00
N1000.02%1551.56
OMXC25GI1.15%2297.37
OMXSPI0.30%998.17
OSEBX-0.56%1409.06
PSI200.69%6919.54
TECDAX0.74%3422.77
BUK100P0.19%841.96
EURUSD0.46%1.0900
CL (OIL)-1.39%78.02
Indices Evaluations
 SML
AEXpospospos
CAC40pospospos
COMPXpospospos
DAXpospospos
HEXposnegneg
N100pospospos
OMXC25GIpospospos
OMXSPIposposneutral
OSEBXpospospos
PSI20pospospos
TECDAXnegneutralpos
BUK100Ppospospos
EURUSDposneutralneutral
CL (OIL)negneutralneutral

S: Short term.    M: Medium term.    L: Long term.
Stock Exchange barometer
Mumbai S.E. - Medium term
 
      
51% 36% 13%
 1888 Buy Candidates
 1320 Neutral
 508 Sell Candidates
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Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.


Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.

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