Six stocks with a market cap of over Rs 1,000 crore are witnessing Golden Crossovers, according to stockedge.com's technical scan data. Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside. These stocks' 50-day simple moving averages (SMA) crossed their 200-day SMAs on July 18.

On the Futures Short Position scan on July 18, 5 counters from the midcap pack saw aggressive short covering. In such a scenario, the stock’s cumulative open interest decreases whereas the price, average traded and delivered quantity for 5 days increase.

Bulls have the upper hand as the stock has formed a Higher Top Higher Bottom pattern. At a higher level, the price is moving in the range of 945-1020 levels. On Tuesday, with relatively high volumes, the price breached the distribution phase and closed below the lower level of range. From here, some more downside in likely.

Inflation is falling, with the headline consumer price index (CPI) measure slowing to 3.0% in June from 4.0% in May. That led many observers on Wall Street to conclude inflation might soon be tamed, prompting some to renew bets that rate cuts could happen by as soon as the end of 2023.

Dovish remarks from a European Central Bank policymaker boosted bonds and dragged the euro lower. Hotter-than-expected inflation lifted the New Zealand dollar a little and stoked some market nerves ahead of British CPI due later in the day.

Bank of America gained 4.42% after its profit beat expectations by earning more from customers' loan payments, while investment banking and trading fared better than expected. Shares of other banks also rose on Tuesday, with Bank of New York Mellon up 4.11%, and PNC Financial up 2.51%, after they reported quarterly results.

"Voltas stock is trading near 20-year rising trendline support on the monthly charts. The stock is also trading near the previous swing high breakout retest area around 720 which makes it a lucrative buy for an upside till 850 levels for the next few months," Gaurav Bissa, VP, InCred Equities, said.

IndusInd Bank posted 33% rise in net profit for the quarter ended June to Rs 2,124 crore. Total income for the quarter increased 28% YoY to Rs 12,939 crore.

Power costs are about 25-30% of the total expenses for aluminum companies, and the recent reduction in coal prices is expected to boost operating profit. From an all-time high of more than $450 per tonne last year after Russia's invasion of Ukraine and higher usage by Europe, thermal coal prices are now at their lowest level in more than two years.

Vidarbha Industries is a subsidiary of Anil Ambani's Reliance Power. Varde Partners, bidding alongside Aditya Birla ARC, had also offered to fund the promoter's one-time settlement offer of ₹1,260 crore, but the lenders did not proceed with it

"Tesla, Amazon, Apple, Microsoft, Google, Facebook and Nvidia were the top stocks traded on our platform, which saw trading volumes grow by 37% in H1 2023 compared to H2 2022, while buy transactions went up by 41%," said Viram Shah, CEO and cofounder, Vested Finance, an online investment platform that deals with US stocks.

For the first time in eight quarters, Indian corporates' aggregate revenue could see a decline as demand slowed and commodity prices fell, but profitability may improve marginally as raw materials prices eased, said Crisil.

The Reserve Bank of India (RBI) has been regularly reviewing the burgeoning bond-derivative trades between banks and insurance companies, and does not see any major reasons for concern at the current juncture.

It will be a special pre-open session for the purpose of price discovery in Reliance Industries shares (excluding the financial services business following the demerger).

The Sensex closed at a record 66,795, up 205.21 points, or 0.31%, from the previous record-high closing of 66,589. The index topped 67,007 in the late morning trade before paring some of its gains. The Nifty, too, made a fresh all-time closing high of 19,749, up 37.80 points or 0.19%. It scaled a new high of 19,819, beating Monday's record of 19,731.

On the candlestick screener scan performed on Tuesday, a bullish reversal pattern helps identify stocks that can move upwards from a downward zone. So, here are 9 stocks with m-cap over Rs 1,000 crore that have established a Bullish Cross pattern and hint at a bullish reversal in the future. (Source: StockEdge)

"We think the bank's current valuation of 2.9x FY24E BVPS (pure bank) does little justice to its compounding potential and low balance-sheet risk," said BNP Paribas Securities in a note to clients.

A bearish reversal scan on the candlestick screener can help ascertain stocks that can slip downwards from an upward zone. So, here are 4 midcaps that established a Hanging Man pattern on Tuesday and signal a bearish reversal. (Source: StockEdge)

The stock has hit a 52-week high of Rs 1,063 on July 20, but failed to hold on to the momentum. It closed at Rs 763 on July 17, which translates into a fall of over 28%. The stock has found resistance around Rs 720-730 levels multiple times in January, February and March 2020, and retested the above support area again in January 2023. It then bounced back

At 11:38 a.m. ET, the Dow Jones Industrial Average was up 352.71 points, or 1.02%, at 34,938.06, the S&P 500 was up 14.90 points, or 0.33%, at 4,537.69, and the Nasdaq Composite was down 14.91 points, or 0.10%, at 14,230.04.

ESM rules were introduced on June 4 for highly volatile micro-small cap companies with a market cap of less than Rs 500 crore. Many investors complained that they could not exit these stocks as they are traded once a week. A company Mercury EV Tech has challenged the new rule at the Securities Appellate Tribunal (SAT).

According to bulk deal data available with the exchanges, Clarios ARBL has offloaded about 2.39 crore shares in the company at a price of Rs 652.9. According to latest shareholding data, the company is majority owned by public shareholders at 71.94% stake, while promoters own the rest 28.06%.

Under the existing ESM framework rule, stocks were allowed to trade only once a week. However, trading in them will now be allowed on all days, the exchanges said in a circular.

Benchmark indices continued their euphoric rally relentlessly for the fourth day on Tuesday, reaching new all-time high closing levels, amid fresh foreign fund inflows and a positive trend in the US and European markets. Robust buying in IT major Infosys also contributed to the domestic benchmark indices optimism.Nifty ended Tuesday’s session at 19,759, while Sensex advanced another 205 points and settled at 66,795. Broader markets, meanwhile, ended with losses.Sectorally, all the indices ended in the red barring Nifty IT, Nifty Private Bank and Nifty Oil and Gas.“The global market scenario remains favorable for the bullish sentiment. The weakening of the US dollar and the resulting capital inflows into emerging markets can provide resilience to the market,” said Ameya Ranadive CMT CFTe, Equity Research Analyst, Choice Broking.Here are the stock recommendations for Wednesday:

Euro zone government bond yields hit their lowest since June, led by the benchmark German 10-year bond, as economic data and comments from ECB officials suggested the current tightening cycle may be over soon. Some analysts argued that the ECB might leave the deposit facility rate at 3.75% in September, following a potential inflation forecast revision.

According to data available with the exchanges, Rekha Jhunjhunwala has offloaded 97 lakh shares or nearly 5% stake in the company. The transaction was done at a price of Rs 215 apiece, fetching the investor about Rs 208 crore. Rallis India has recently announced its first quarter earnings, where it has recorded a revenue of Rs 782 crore, down from Rs 863 crore clocked in the previous year quarter.

His remarks came in response to a question on whether the central bank saw the need to tweak YCC at its rate review later this month.Under YCC, the BOJ guides short-term interest rates at -0.1% and buys huge amounts of government bonds to cap the 10-year bond yield around 0% as part of efforts to fire up inflation to its 2% target

Dow rises 11.73 points at the open; Nasdaq Composite drops 33 points

On Tuesday, the benchmark index Sensex experienced another remarkable upswing, advancing approximately 205 points and concluding at yet another lifetime high level of 66,795. Amid this impressive climb, 7 stocks listed on the BSE commodities index reached new peaks within the past 52 weeks. The 52-week high serves as a vital technical indicator to evaluate a stock's current value and predict potential price fluctuations. It represents the highest price at which a stock has been trading in the preceding year

Options data suggests a shift trading range between 19,400 to 20,000 zones while an immediate trading range between 19550 to 19900 zones.

Stocks that were in focus include names like Medplus Health Services which hit a fresh 52-week high, Sheela Foam rose more than 4% with strong volumes, and NMDC Steel closed with gains of nearly 4% to hit a fresh 52-week high.

The latest decision has been taken after Dhoot failed to pay the fine imposed on him in March by Sebi for not making disclosures about his interest in Supreme Energy as well as for not disclosing that Quality Techno Advisors Pvt Ltd (QTAPL) and Credential Finance Ltd (CFL) were related parties with respect to certain transactions

Agri inputs firm Rallis is into manufacturing, distribution, sales and marketing of crop protection and crop nutrition products, and a variety of field crop and seeds.Recently, Rallis reported a marginal fall in net profit at Rs 63 crore for June quarter as against Rs 67 crore in the year-ago period

Stocks that were in focus include names like Medplus Health Services which hit a fresh 52-week high, Sheela Foam rose more than 4% with strong volumes, and NMDC Steel closed with gains of nearly 4% to hit a fresh 52-week high.

Six esteemed companies listed on the BSE Sensex hit their 52-week highs, including Apollo Hospitals Enterprise, Ashok Leyland, Colgate Palmolive, ICICI Bank, Reliance Industries, and United Spirits. These companies offer a range of goods and services spanning healthcare, commercial vehicles, consumer goods, banking and financial services,

As per the Stochastic Oscillator i.e. a momentum indicator, some of the below-specified largecaps are in the oversold zone. Remember, as per the Stochastic indicator, the stock is said to be oversold when the slow Stochastic value is below 20.

Eleven stocks on the S&P BSE 150 Midcap Index hit a 52-week high on 18 July. Alkem Laboratories, Ashok Leyland, AIA Engineering, CG Power and Industrial Solutions, and 360ONE among them. Achieving a new 52-week high is a significant factor for investment decision-making

Ace investor Ashish Kacholia has added two smallcap multibagger stocks to his portfolio during the June quarter. Kacholia picked up a 1.6% stake in Ugro Capital and 1.2% in SG Finserve, both companies in which he hasn't had any holding previously.

RSI readings above 70 indicate overbought conditions, suggesting that the stock may be due for a correction. Conversely, readings below 30 indicate oversold conditions, indicating the stock may be undervalued and due for a potential rebound.

Six esteemed companies listed on the BSE Sensex hit their 52-week highs, including Apollo Hospitals Enterprise, Ashok Leyland, Colgate Palmolive, ICICI Bank, Reliance Industries, and United Spirits. These companies offer a range of goods and services spanning healthcare, commercial vehicles, consumer goods, banking and financial services,

Closing Bell: Sensex ends at fresh record high, up 205 pts; Nifty near 19,750; Polycab surges 6%, Paytm falls 2%

44 stocks from Nifty50 have experienced the Golden Crossover technical pattern, indicating a shift in momentum from bearish to bullish, ETMarkets reports. The cross occurs when a stock's short-term moving average, the 50-day simple moving average (SMA), passes above its long-term 200-day SMA.

Rekha Rakesh Jhunjhunwala, a prominent Indian investor, has increased her stake in Titan Company by purchasing an additional 6,50,000 shares in the June quarter, thereby strengthening one of her oldest investments. Titan was among the top-performing stocks in the Nifty50 pack for the quarter, rising by more than 21%.

By ending 3.7% higher, Infosys was the top gainer in the Nifty50 pack, followed by Asian Paints, HCL Tech and Reliance Industries. On the other hand, LTIMindtree, HDFC Life, and SBI limited the upside with losses of around 1-3% each.

The company has clocked revenues of Rs 2,301 crore for the quarter under review, up 15% from Rs 2,006 crore in the corresponding quarter of previous fiscal.

As per the Stochastic Oscillator i.e. a momentum indicator, some of the below-specified largecaps are in the oversold zone. Remember, as per the Stochastic indicator, the stock is said to be oversold when the slow Stochastic value is below 20.

These stocks give bearish signals, indicating that it may be time to sell the counters as the MACD crosses from above to below the signal line. Note: Data given is as of July 17. (Source: StockEdge)

Over 90 stocks were trading in an overbought zone on July 17, with an RSI value above 70, according to StockEdge data. The RSI indicator is a momentum oscillator measuring the speed and change of price movements in a stock. An RSI reading above 70 indicates that the stock may be overvalued or trading at a higher value

Europe's healthcare sector, up 0.4%, also got a boost from 3.9% gains in shares of Swedish Orphan Biovitrum (SOBI) after the drugmaker's second-quarter earnings beat estimates.

The RSI of a stock is the ratio of the recent upward price movements to the absolute price movement. The value of RSI ranges between 0-100 and the data computes the value of RSI taking 14 days as the reference period. Typically, RSI signals short-term buy and sell ideas in securities. So, here are the stocks whose RSI has crossed 70 and suggests an overbought state. (Source: StockEdge)