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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.

"On the earnings front, we expect aggregate earnings to continue to deliver low teen growth. Hence, on an overall basis, we expect the Indian market to deliver returns that are in line with earnings growth. To sum up, reasonable valuations coupled with one of the highest growth rates make for a compelling case of attractive compounding returns for Indian markets."

On the weekly front, the maximum Call OI is placed at 19,600 and then towards 19,500 strikes while the maximum Put OI is placed at 19,400 and then towards 19,500 strikes.

"Even at the current levels and based on expected EPS growth, we believe that the Indian market is fairly valued. We are comfortable with valuations from a long-term horizon perspective. We believe that in the absence of any major global events, Indian companies will deliver strongly on growth along with improving profitability, justifying the valuation at which the benchmarks are trading."

Astral, incorporated in the year 1996, is a Mid Cap company (having a market cap of Rs 53031.98 Crore) operating in Plastics sector.

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.

​It is a one-day candlestick pattern in which there is a small red real body and an upper shadow extending from the body. It is formed at the bottom of a downtrend.​

The number of banks in the sample which reported a sequential increase in the loan loss provisioning for the June quarter increased to 14 from 10 in the previous quarter. The sequential jump in the NPA provisioning was driven by the PSBs including State Bank of India and Bank of Baroda, and private sector banks such as Axis Bank and Kotak Mahindra Bank. Each of these banks reported more than two-fold increase sequentially in their respective NPA provisioning for the June quarter. Their share in the sample’s NPA provisioning increased to nearly 23% from 11% in the prior quarter.

The strong performance of the Indian stock market has boosted Indian billionaires’ wealth. The benchmark Sensex has risen 7.3% since the start of the year. Gautam Adani and Radhakishan Damani are the only ones among the top 15 billionaires to see a wealth decline in the current year.

Stocks like Bajaj Finance, Hero Moto, IndusInd Bank, AB Capital, Bandhan Bank, Oberoi Realty and Shriram Finance can remain under pressure. Investors can start accumulating BPCL and ITC in the fall, said analysts.