Stocks to Watch For Friday- MINDTREE LIMITED

Mindtree Limited Mindtree Limited futures bounced back from the 50% retracement level on the daily charts heading towards 920-950 level. During the last three days, it manage to close above 200-days EMAs on closing basis. The stock also witnessed a substantial volume growth in the same period during the upward rally.

The momentum indicator also indicating towards bullish movement in the upcoming days. MACD and KST are giving positive convergence on the daily charts.  We are recommending traders to take long positions in MINDTREE futures in the range of 914-916 for the targets of Rs 928-945, with a strict stop loss at 903.85

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Market Commentary :

Mindtree Limited At the close of market hours, the Sensex was up 86.63 points or 0.24% at 36195.10, and the Nifty up 18.30 points or 0.17% at 10849.80.

YESBANK, RELIANCE, TCS,JSWSTEEL, TECHM were the top gainers among Nifty 50 stocks while INFRATEL,TATAMOTORS,UPL, ULTRACEMCO, SUNPHARMA were the top losers.

News HighLights :

  • Yes Bank has named Ravneet Gill as Managing Director & Chief Executive Officer effective March 1, 2019.
  • Markets regulator SEBI on Thursday slapped a total fine of Rs 25 lakh on three entities for manipulating share price of Ponni Sugars (Erode) Ltd.

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Stock Market Closing Bell 24-Jan-2019: CapitalHeight

closing bell

CH: CLOSING BELL

NIFTY FUTURE UP 22 @ 10877

BANK NIFTY FUTURE UP 27 @ 27348

SENSEX UP 86 @ 36195

INR @ 71.23

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Stock To Watch For Today : Newgen Software Technologies

Newgen Software Technologies Limited Newgen Software Technologies Limited has formed a symmetrical triangle on the daily charts between the price ranges of 290 and Rs 314 over the last four weeks. The price has rallied above average volumes indicating buying participation and is now trading at nick line.

Newgen Software giving upside breakout via Bollinger Band indicating a continuation of the trend in the direction of the breakout on the daily charts. Thus, the stock can be bought at current levels 300-301 and a stop loss below 285 for a target of 310-325.

Daily Stock to Watch : http://moneycapitalheight.blogspot.com/p/stocks-to-watch-today.html

Market Commentary:

Newgen Software Technologies Limited At the close of market hours, the Sensex was down 336.17 points or 0.92% at 36108.47, and the Nifty down 91.30 points or 0.84% at 10831.50.

SUN PHARMA, YES BANK, TATA STEEL,WIPRO, ZEEL were the top gainers among Nifty 50 stocks while ITC,GRASIM,IBULHSGFIN, TITAN, M&M were the top losers.

News Highlights :

  • FMCG major ITC reported 4 percent year-on-year (YoY) growth in profit at Rs 3,209 crore for the third quarter ended December 2018.
  • Tata Motors may follow its peers and jump on the electric vehicle bandwagon next year, as the clamour for green mobility grows.

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