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Content
Signals
All indicators - Medium term
Infosys LtdMay 31, 2024
Canara BankMay 31, 2024
Maruti Suzuki India LtMay 31, 2024
Indus Towers Ltd.May 31, 2024
Adani Total Gas Ltd.May 31, 2024

S&P BSE SENSEX moved more or less horizontally on Friday and closed at 73961 points (+0.1 percent). The week as a whole showed a loss of 1.9 percent. Overall May showed a loss of 0.7 percent. The index thereby reversed up after five days of losses.

1463 shares showed a gain and 1837 showed a loss. 72 shares were unchanged and closed at the same price as the previous day. There was no trading in 337 shares.

Total value of the trading volume for shares and primary capital certificates Friday was approximately 90.1 billion.

Adani Enterprises Ltd was up 6.8 percent to close at 3411 rupee. The stock has not closed at a higher price since Jan 2023. It also looks good technically. The stock is trend wise positive in the medium term, has broken up through resistance at 3300 rupee and a further increase is indicated.
NHPC Limited closed at 107 rupee after a solid gain of 6.0 percent. The stock has never gained more in one day since Mar 14, when it was up 8.7 percent. It also looks good technically. The stock is trend wise positive in the medium term, has broken up through resistance at 104 rupee and a further increase is indicated.
Adani Power Limited ended with a solid gain of 8.4 percent and closed at 757 rupee. We must go back to Dec 5. 2023 to find an equally strong rise. That time the stock gained 15.9 percent. This past month the stock has gained as much as 27.1 percent. It also looks good technically. The stock is trend wise positive in the medium term, has support at 570 rupee and a further increase is indicated.
Bikaji Foods International Ltd ended with a solid gain of 9.2 percent and closed at 595 rupee. We must go back to Nov 24. 2022 to find an equally strong rise. That time the stock gained 10.0 percent. It was also very high volume. Overall it was traded for 245 millions rupee in the stock, which is 19 times as much as normal daily turnover. Technically it also looks good. The stock is trend wise positive in the medium term, has marginally broken up through resistance at 590 rupee and a further increase is indicated.
PB Fintech Ltd ended with a solid gain of 9.0 percent and closed at 1296 rupee. The stock has never gained more in one day since Jan 31, when it was up 10.0 percent. The volume was also high. At session end it was bought and sold shares for about 1302 million rupee in the stock, which equals eight times mean daily turnover. Technically it also looks good. The stock is trend wise positive in the medium term, has support at 1180 rupee and a further increase is indicated.

National S.E. turned upwards
The market showed a small gain Friday, and Nifty 50 ended the day at 22531 points, which is an increase of 0.2 percent. The week as a whole showed a loss of 1.9 percent. For May as a whole the index showed only a slight change of -0.3 percent. The index thereby reversed up after five days of losses.

US 500 rises on Friday
The market moved up Friday, and S&P 500 ended at 5278 points, which is an increase of 0.8 percent. The week as a whole showed a loss of 0.5 percent. Overall May showed a gain of 4.8 percent.

Indices
S&P BSE SENSEX
arrow green   Positive Candidate
Investors have paid higher prices over time to buy S&P BSE SENSEX and the index is in a rising trend channel in the medium long term. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. 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 72500 points. The index is assessed as technically positive for the medium long term.
Nifty 50
arrow green   Positive Candidate
Nifty 50 shows strong development within a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The price has reacted back after a possible false break of the rectangle formation. A decisive break up through 22709 will again give new positive signals to the index, while a break on the opposite side of the formation will be a strong negative signal. 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 22000 points. The index is overall assessed as technically 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 signals increasing optimism among investors and indicates continued rise. The index has marginally broken up through resistance at points 5250. An established break predicts a further rise. RSI above 70 shows that the index has strong positive momentum in the short term. Investors have steadily paid more to buy the index, which indicates increasing optimism and that the price will continue to rise. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The index is overall assessed as technically positive for the medium long term.
Today´s Case
Adani Total Gas Ltd. (542066) Price 1039.15, May 31, 2024
chart
Adani Total Gas Ltd. has broken up from an approximate horizontal trend channel in the medium long term. This signals a continued strong development, and the stock now meets support on possible reactions down towards the ceiling of the trend channel. The price has also broken a resistance level and given a positive signal for the long-term trading range. The stock has marginally broken up through resistance at rupee 1000. An established break predicts a further rise. Positive volume balance, with high volume on days of rising prices and low volume on days of falling prices, strengthens the stock in the short term. The stock is overall assessed as technically positive for the medium long term.
Recommendation: Positive
Latest days indices
AEX-0.22%903.61
CAC400.18%7992.87
COMPX-0.01%16735.00
DAX0.01%18498
HEX0.22%10244.00
N1000.02%1530.61
OMXC25GI0.67%2295.50
OMXSPI0.50%990.84
OSEBX0.87%1440.53
PSI200.46%6870.81
TECDAX-0.44%3336.13
BUK100P0.50%825.83
EURUSD0.06%1.0800
CL (OIL)-1.18%76.99
Indices Evaluations
 SML
AEXpospospos
CAC40pospospos
COMPXpospospos
DAXneutralpospos
HEXposnegneg
N100pospospos
OMXC25GIneutralpospos
OMXSPIpospospos
OSEBXpospospos
PSI20neutralpospos
TECDAXnegpospos
BUK100Ppospospos
EURUSDneutralnegneutral
CL (OIL)negnegneutral

S: Short term.    M: Medium term.    L: Long term.
Stock Exchange barometer
Mumbai S.E. - Medium term
 
      
46% 37% 17%
 1717 Buy Candidates
 1376 Neutral
 622 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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