Agricommodity Tips| Agri Commodity Market TipsAgricommodity Tips|Commodity Market tipsbest stock advisory company in indore
A morning walk down Dalal Street | Break below 11,250 could take Nifty towards 200-DMA placed at 11,020
Investors will watch out for Consumer Price Index (CPI) on YoY basis which is scheduled to be released on Monday while WPI for the month of April is slated to be released May 14, 2019.
The market remained in the bear grip throughout the week and pushed the Nifty 50 below crucial support levels on closing basis.
The Nifty 50 plunged 3.7 percent while the S&P BSE Sensex was down by 3.8 percent to post their biggest loss since October 2018 for the week ended May 10.
FIIs have pulled out nearly Rs 4000 crore for Indian equity markets so far in the month of May after pouring by about Rs 60,000 crore in the first four months of 2019.
In terms of market capitalization, investors lost nearly Rs 5 lakh crore during this week. The average market-capitalization of BSE-listed companies fell from Rs 151.62 lakh crore on May 3 to Rs 146.51 lakh crore on May 10.
On the macro front, markets will react to manufacturing data which was released post market hours on Friday. India’s industrial output declined by 0.1 percent in March, hitting a 21-month low compared to 0.1 percent in February.
Investors will watch out for Consumer Price Index (CPI) on YoY basis which is scheduled to be released on Monday while WPI for the month of April is slated to be released May 14, 2019.
The Indian rupee on Friday rebounded after falling beyond 70 a US dollar. At day's low, the rupee fell 70.06 as US-China trade war hit emerging market currencies. Rupee later pared losses and traded ended higher at 69.91 as compared to Thursday's close of 69.94.
On the provisional front, FIIs were net sellers in Indian markets for Rs 1245 crore while DIIs were net buyers to the tune of Rs 1057 crore, provisional data showed.
Big News: As many as 68 companies will declare their results for the quarter ended March which include names like Andhra Bank, CCL Products, Godrej Industries, HDFC, Vodafone Idea, ITC, Karnataka Bank, Muthoot Finance, OBC, and United Bank of India, etc. among others.
ITC: PAT likely to grow by 9% YoY to Rs 3194 crore
HDFC: PAT likely to grow by 2% YoY to Rs 307 crore
Vodafone Idea: Likely to report a loss of Rs 4120 crore
(All the estimates are from Motilal Oswal)
Technical View: Nifty formed a bearish candle for the 8th day
It is below the crucial short term moving averages which are not a good sign for the bulls
The Nifty50 for the week closed 3.7 percent lower while the S&P BSE Sensex closed 3.8% in the same period
The broader market outperformed as the Nifty Midcap index gained 0.47 percent while the Nifty Smallcap index rose 0.57 percent.
Going forward, 11,250 will be important for bulls if they have to regain control of D-Street. A, suggest experts.
Three levels: 11251-11200, 11345, 11500
Max Call OI: 12000, 12500
Max Put OI: 11000, 11500
Stock in the News:
Larsen & Toubro, India's largest construction and engineering company, reported net profit growth of 7 percent year-on-year to Rs 3,418 crore in the fourth quarter ended March 31 driven by strong revenue growth and operational performance.
Motilal Oswal Financial Services reports Q4FY19 PAT of Rs 147 crores. Consolidated Revenues for 4QFY19 stood at Rs 721cr and in FY19 at Rs 2677cr. Consolidated PAT for FY19 stood at Rs. 2677 cr.
State-owned Indian Overseas Bank on May 11 reported narrowing of its net loss to Rs 1,985.16 crore in the quarter ended March 2019 on account of declining bad loans.
Technical Recommendations: We spoke to Angel Broking and here's what they have to recommend:
BEML: Buy| LTP: Rs 842.95| Target: Rs 900| Stop Loss: Rs 811.40| Upside 7%
Heidelberg Cement: Buy| LTP: Rs 180.10| Target: Rs 204| Stop Loss: Rs 167| Upside 13%
Disclaimer: The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Best Commodity News Click Here Or Read More- Stock Market Tips
0 comments
Note: only a member of this blog may post a comment.