Stock to Watch for Today: Avadh Sugar

Stock to Watch for Today: Avadh Sugar

Avadh Sugar has witnessed a consolidation between 340 and Rs 368 over the last 9 days. It formed a rounding bottom formation on the daily chart and witnessed a breakout. Volumes on the up move are high that indicates buying participation in Avadh sugar.

Thursday long bullish candle is formed, the stock price has been sustaining above 20 day’s EMA on the daily  charts. Traders can accumulate the stock in the range 370-372 for the targets of 382-395 with a stop loss below 357.

To Check Daily Stock to Watch : CapitalHeight

Market Commentary:

The Sensex was down 4.14 points at 36971.09, while Nifty was up 6.90 points at 11069.40. About 1377 shares have advanced, 1145 shares declined, and 164 shares are unchanged.

ZEEL, SUNPHARMA, EICHERMOT, BAJAJ-AUTO, GRASIM were the top gainers among Nifty 50 stocks while JSWSTEEL, RELIANCE, LT, POWERGRID, HDFC were the top losers.

News Highlights :

RBI cuts repo rate by 25 bps; 12 rate-sensitive stocks are likely to benefit the most.

Tata Motors reported net loss of Rs 26,961 crore for the quarter ended December 2018 impacted by an exceptional item of asset impairment of Rs 27,838 crore.

To Check Daily Stock to Watch : CapitalHeight

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