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Momentum Moves: The Week Gone By
Sat, 16 Jan Momentum Moves | Brijesh Bhatia

Nifty and Sensex ended the week gaining 0.60% and 0.52% respectively.

Bulls started the week roaring but since Wednesday, the momentum seemed to be tiring. This is indicated by smaller body candles on Tuesday, Wednesday, and Thursday on the charts.

Bears grabbed an opportunity and attacked on Friday with Nifty 50 breadth falling to 6 negative stocks against 1 positive.

Tata Motors (+31.40%), Bharti Airtel (+11.55%) and ITC (+8.09) were the top 3 gainers.

Asian Paints (-8.90%), Bajaj Finserv (-5.83%) and Divi's Lab (-5.53%) were top 3 losers in Nifty 50.

Among sectorial Indices, PSU Bank Index gained the most (5.87%) followed by Auto Index (+4.49%) and Realty (+1.15%).

Metals (-2.27%), Pharma (-1.94%) and Media (-1.37%) indices ended the week in negative zone.

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The Week Ahead

Nifty has been rising week-on-week and bulls are having their best time.

In the last 10 weeks, Nifty has managed to close 9 times in positive and only once in the negative.

I believe the bulls seem to be tiring. The index is trading in overbought territory which is indicated by the RSI (Relative Strength Index).

 

Nifty is also trading at resistance of the 10 years rising trend line.

If we compare it with the Dollar Index, they have an inverse relationship.

Dollar Index is trading at multi-year support and Nifty at multi-year resistance.

In the video, I compare the Nifty with Dollar Index chart and share my views on this.

 

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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Stock Market Updates

ZENSAR TECHNOLOGIES Share Price Down by 6%; BSE IT Index Up 1.0% (Today's Market)

Mar 8, 2021 03:28 PM

ZENSAR TECHNOLOGIES share price is trading down by 6% and its current market price is Rs 297. The BSE IT is up by 1.0%. The top gainers in the BSE IT Index are CYIENT (up 3.7%) and HCL TECHNOLOGIES (up 2.2%). The top losers is ZENSAR TECHNOLOGIES (down 5.5%).

KPIT TECHNOLOGIES Share Price Up by 7%; BSE IT Index Up 1.5% (Today's Market)

Mar 8, 2021 02:52 PM

KPIT TECHNOLOGIES share price is trading up by 7% and its current market price is Rs 148. The BSE IT is up by 1.5%. The top gainers in the BSE IT Index is KPIT TECHNOLOGIES (up 6.8%). The top losers are COFORGE (down 0.3%) and WIPRO (down 0.3%).

FDC Share Price Up by 6%; BSE HEALTHCARE Index Up 0.6% (Today's Market)

Mar 8, 2021 02:44 PM

FDC share price is trading up by 6% and its current market price is Rs 302. The BSE HEALTHCARE is up by 0.6%. The top gainers in the BSE HEALTHCARE Index are FDC (up 6.0%) and DISHMAN CARBOGEN AMCIS (up 10.3%). The top losers are ALKEM LABORATORIES and IPCA LABS (down 0.1%).

BALMER LAWRIE Share Price Up by 10%; BSE 500 Index Up 0.6% (Today's Market)

Mar 8, 2021 02:42 PM

BALMER LAWRIE share price is trading up by 10% and its current market price is Rs 154. The BSE 500 is up by 0.6%. The top gainers in the BSE 500 Index are BALMER LAWRIE (up 10.1%) and BEML (up 20.0%). The top losers are PI INDUSTRIES and TATA ELXSI .

BHEL Share Price Up by 5%; BSE CAPITAL GOODS Index Up 2.0% (Today's Market)

Mar 8, 2021 02:42 PM

BHEL share price is trading up by 5% and its current market price is Rs 56. The BSE CAPITAL GOODS is up by 2.0%. The top gainers in the BSE CAPITAL GOODS Index are BHEL (up 5.3%) and GRINDWELL NORTON (up 5.3%). The top losers are HAVELLS INDIA (down 0.1%) and SKF INDIA (down 0.2%).

Sensex Trades Over 200 Points Higher; Dow Futures Up by 37 Points (Today's Market)

Mar 8, 2021 12:30 pm

BSE Sensex is trading up by 214 points, while the NSE Nifty is trading up by 76 points.

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