For the stock market trading session on 04 September 2019, major support level of Nifty is expected to be in the range of 10,635 to 10,550. Whereas major resistance level is expected to be in the range of 10,882 to 11,025. Considering the prevailing condition of the market, here are top stocks to watch for 04 September 2019
IDBI Bank Limited:
As on 3 September 2019 IDBI Bank Limited (IDBI) jumped more than 18 percent after cabinet approved plan to infuse over Rs. 90 Billion in IDBI Bank. It closed at 28.35 with overall gain of 5.78 percent.
On Tuesday Canara Bank (CANBK) fell almost 12 percent and made a fresh low since July 2016. Stock has fell more than 31 percent in last two months.
Punjab National Bank:
On Tuesday Punjab National Bank (PNB) opened on negative note and traded with negative sentiments throughout the day. It closed with overall loss of around 9 percent on daily basis. Stock has fell more than 25 percent in last two months.
Tata Consultancy Services Limited:
Tata Consultancy Services Limited (TCS) gave positive opening and traded with choppy movement throughout the session. As on 03 September 2019 it formed a fresh all time high of 2296.20 although it closed with marginal loss of 0.60 percent on daily basis ahead of strong Rupee vs US Dollar.
On Tuesday Infosys Limited (INFY) made fresh all time high of 822.40 although it closed with marginal loss of 0.27 ahead of strong Rupee vs US Dollar.
Bajaj Auto Limited:
On Tuesday Bajaj Auto Limited (BAJAJ-AUTO) traded range bound. Its August total sales down by 11 percent, its August motorcycles sales marked down by 10 percent and August commercial vehicles sales were reported to be down by 13 percent.
Yesterday Bosch Limited (BOSCHLTD) opened on negative note and traded with negative sentiments throughout the day. It closed at 13,833.65 with overall loss of 4.44 percent lowest among the Nifty Auto.
TVS Motor Company Limited:
TVS Motor Company Limited (TVSMOTOR) up by 2.2 percent after the fall of consecutive 3 trading session. As company registered sales growth of 4 percent in August 2019 on MoM basis.
United Breweries Limited:
As on 3 September 2019 United Breweries Limited (UBL) fell down by 3.90 percent and closed at 1318.15. Scrip is sustaining below its 50 and 200 days EMAs.
Reliance Power Limited:
Reliance Power Limited (RPOWER) went up more than 9 percent intraday on 3 September 2019, ahead of it signs joint venture with Jera (Japan). Company to hold 51 percent stake and Jera to hold 49 percent Stake.