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Content
Signals
All indicators - Medium term
State Bank of IndiaNov 21, 2024
Kalyan Jewellers IndiaNov 21, 2024
Coal India LimitedNov 21, 2024
Bank of BarodaNov 21, 2024
Adani Ports & Special Nov 21, 2024

The market showed a negative development Thursday, and S&P BSE SENSEX ended the day at 77156 points, which is a decline of 0.5 percent. The index has not closed lower since Jun 14. The index has thereby closed down 18 out of the past 25 days.

998 shares showed a gain and 2444 showed a loss. 70 shares were unchanged and closed at the same price as the previous day. There was no trading in 342 shares.

Total value of the trading volume for shares and primary capital certificates Thursday was approximately 55.4 billion.

Adani Power Limited closed down 9.1 percent to 476 rupee. The stock thereby broke the earlier bottom it set Mar 20 and reached a new year-low. The volume was also very high. At session end it was bought and sold shares for about 2357 million rupee in the stock, which equals 19 times mean daily turnover. Nor does it look good technically. The stock is trend wise negative in the medium term, has broken down through support at 500 rupee and a further decline is indicated.
Adani Enterprises Ltd fell sharply to close at 2183 rupee, down 22.6 percent. The stock has never lost more in one day since Feb 2. 2023, when it was down 26.5 percent. The volume was also very high. At session end it was bought and sold shares for about 2295 million rupee in the stock, which equals 15 times mean daily turnover. It does not look good technically either. The stock is trend wise negative in the medium term and a further decline is indicated.
Adani Ports & Special Economic Zone Ltd fell sharply to close at 1115 rupee, down 13.5 percent. The previous time the stock lost this much was Jun 4, when it closed down 21.3 percent. It was also very high volume. Overall it was traded for 1542 millions rupee in the stock, which is 14 times as much as normal daily turnover. It does not look good technically either. The stock is trend wise negative in the medium term and a further decline is indicated.
Multibase India Ltd closed at 514 rupee after posting a gain of 10.0 percent. The stock has now risen for the fourth day in a row. The stock has by that gained 68.9 percent since the buy signal from the rectangle formation three days ago.
State Bank of India closed down 2.6 percent to 781 rupee. The stock triggered a sell signal by the break down through the support at 786 rupee in head and shoulders formation. A further drop to 660 rupee within nine months is indicated.

Lowest close since Jun 12.
The market showed a negative development Thursday, and Nifty 50 ended the day at 23350 points, which is a decline of 0.7 percent. The index has not closed lower since Jun 12. The index has thereby closed down 19 out of the past 25 days.

US 500 approximately even on Wednesday
S&P 500 moved more or less horizontally on Wednesday and closed at 5917 points (+0.0 percent).

Indices
S&P BSE SENSEX
arrow yellow   Neutral
S&P BSE SENSEX has broken through the floor of a rising trend channel in the medium long term. This indicates a slower rising rate at first, or the start of a more horizontal development. The index has broken a support level and given a negative signal for the long term trading range. The index has support at points 72300 and resistance at points 85800. RSI below 30 shows that the momentum of the index is strongly negative in the short term. Investor have steadily reduced the price to sell the index, which indicates increasing pessimism and continued falling prices. However, particularly in big stocks, low RSI may be a sign that the stock is oversold and that there is a chance for a reaction upwards. The RSI curve shows a falling trend, which could be an early signal of the start of a falling trend for the price as well. The index is overall assessed as technically neutral for the medium long term.
Nifty 50
arrow green   Weak Positive Candidate
Nifty 50 has broken the floor of the rising trend channel in the medium long term, which indicates a weaker initial rising rate. The index has broken a support level and given a negative signal for the long term trading range. The index has support at points 22000 and resistance at points 25000. RSI is below 30 after the falling prices of the past weeks. The index has strong negative momentum and further decline is indicated. However, particularly in big stocks, low RSI may be a sign that the stock is oversold and that there is a chance for a reaction upwards. The RSI curve shows a falling trend, which could be an early signal of the start of a falling trend for the price as well. The index is overall assessed as technically slightly positive for the medium long term.
S&P 500
arrow green   Positive Candidate
S&P 500 is in a rising trend channel in the medium long term. This shows that investors over time have bought the index at higher prices and indicates good development for the market. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 5670 points. RSI diverges negatively against the price, which indicates danger of a reaction downwards. The index is overall assessed as technically positive for the medium long term.
Today´s Case
Anand Rayons Ltd. (542721) Price 54.50, Nov 21, 2024
chart
Anand Rayons Ltd. shows strong development within a rising trend channel in the medium long term. Rising trends indicate that the company experiences positive development and that buy interest among investors is increasing. The stock has built a double bottom formation and given signal of further rise to 50.69. On reactions back, there is now support at 47.88. The stock has broken up through resistance at rupee 53.50. This predicts a further rise. In case of negative reactions, there will now be support at rupee 53.50. 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-0.40%858.57
CAC40-0.43%7198.45
COMPX-0.11%18966.00
DAX-0.29%19005
HEX0.06%9506.14
N100-0.26%1426.60
OMXC25GI-0.79%2109.47
OMXSPI0.45%947.19
OSEBX0.87%1464.83
PSI20-0.10%6353.00
TECDAX0.12%3317.81
BUK100P0.87%819.81
EURUSD-0.52%1.0500
CL (OIL)-0.71%68.75
Indices Evaluations
 SML
AEXnegnegneutral
CAC40negneutralpos
COMPXpospospos
DAXnegneutralpos
HEXnegposneg
N100negneutralpos
OMXC25GInegnegneg
OMXSPInegpospos
OSEBXpospospos
PSI20negnegneutral
TECDAXposnegpos
BUK100Pnegnegpos
EURUSDnegposneg
CL (OIL)negneutralneg

S: Short term.    M: Medium term.    L: Long term.
Stock Exchange barometer
Mumbai S.E. - Medium term
 
      
36% 36% 28%
 1403 Buy Candidates
 1389 Neutral
 1068 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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