DSIJ Mindshare

Overall volumes in futures & options currently stand at 93.83 lakh contracts with a turnover of Rs. 4,29,275.52 crore.

Coal India is currently trading around Rs 237. After registering its 52-week high in February 2018, the stock is consistently falling and making series of lower lows. Currently, the stock is trading near its crucial long term support zone of Rs 235-Rs 230 with oversold day technical indicators.

Investors remained cautious ahead of the state election exit poll results to be announced immediately after voting in Rajasthan and Telangana on Friday evening. Nifty Pvt Bank was the top gainer on Friday among all sectoral indices ahead of exit polls, closing at 15062.25 with a gain of 2.11 per cent. After opening with an upside gap, the index managed to make series of higher highs throughout the day.

The stocks most likely to witness significant movement on the bourses on December 10 are Indo Rama Synthetics (India), Kotak Mahindra Bank, Jet Airways, Escorts and Gujarat Alkalies and Chemicals. 

On the daily scale, the stock has recently given breakout of downward sloping trendline formed by connecting highs from January 2018. After taking support near its crucial short term moving average, i.e. 21-day EMA, the stock bounced sharply. The stock as on December 4, 2018 formed a sizeable bullish candle along with decent volumes, which is positive for the stock.