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RIL stock is approaching its 52-week high of Rs 2,755 on the NSE and is just under 2% shy of the mark. RIL shares were also the most active on the exchanges and triggered the gains in the frontline indices S&P BSE Sensex and Nifty50.

After a positive run last week, equity markets will take cues from first quarter earnings with TCS and HCL Tech set to announce their results in the week.

About 72% of Nifty50 stocks are either nearing or in the overbought region, with IT, Auto and Banks being the top 3 sectors by weightage in Nifty that are overbought. However, overbought signals seldom signal a reversal in a trending market, as much as they do in a sideways market.

A total of 2,718 shares changed hands on the counter till 10:20AM (IST)

Apollo Tyres, incorporated in the year 1972, is a Mid Cap company (having a market cap of Rs 27245.83 Crore) operating in Tyres sector.

The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock.

A 5-year swing high represents the highest price a stock has reached within a five-year timeframe. This level acts as a significant resistance point where the price has historically struggled to go beyond.

The counter has witnessed a breakdown of the head and shoulders formation on the daily chart with huge volume. The overall structure of the counter has become distorted as it trades below its important moving averages (200, 50, 20, and 9 SMA).

In May, SpiceJet clarified and assured investors that it has no plans of filing for insolvency even as it faces a financial crunch. “There is absolutely no question of filing for insolvency. Any rumours regarding the same is completely baseless. We are focussed firmly on reviving our grounded fleet and getting more and more planes back into the air,” Ajay Singh, Chairman and Managing Director, was quoted as saying in a media release.

Until the end of FY23, markets had underperformed for a couple of years, while earnings growth for markets during this time was in the mid-teens. Thus, the recent movement in the markets, to a great extent, is a catch-up rally.