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Charts favour 4 stocks this week; midcap IT showing strength: Chandan Taparia

New Delhi: Domestic equity markets ended the week on a high note, though the benchmark indices settled with mild gains on the weekly basis.

The Nifty50 index advanced more than half a per cent during the week, thanks to the volatility during the week. The euphoria over the merger of HDFC twins fizzled out after the profit booking during the week.

Chandan Taparia, Head - Technical & Derivatives Research at Motilal Oswal Financial Services , said that Nifty remained highly volatile in the week in between a broader trading range from 17600 to 18100 zones... Read More

The week that was in 10 stocks: Energy and sugar stocks rally; Yes Bank jumps 24%

Domestic equity markets ended the week with mild gains, thanks to a strong pull back on Friday. The merger of HDFC twins boosted the morale on Monday, but markets remained volatile mid week.

The hawkish commentary from the Fed, rising inflation, spike in bond yields and tension between Russia and Ukraine kept the bulls under control. However, BSE Sensex and Nifty50 gained up to half a per cent during the week.

Vinod Nair, Head of Research at Geojit Financial Services, said that the market was cautious during the last 2-3 days ahead of the RBI meet and its future policy stance. Measures being in-line with market expectations led to a relief rally...Read More

According to money control

Buzzing Stocks | Tata Motors, Veranda Learning, Bandhan Bank, others in news today

Results on April 11: Tata Consultancy Services, Birla Tyres, Delta Corp, Elnet Technologies, Kesoram Industries, and Lasa Supergenerics will release their quarterly earnings data on April 11.

Tata Motors: JLR sales decline by 36 percent YoY in Q4FY22; on quarterly basis the decline is 1.4 percent. Luxury carmaker Jaguar Land Rover continued to face the risk of global semiconductor shortage as its retail sales fell sharply by 36 percent year-on-year to 79,008 vehicles in Q4FY22 and the sequential decline was just 1.4 percent. The Jaguar brand recorded sales of 14,574 units for the March 2022 quarter, down 37.9 percent and Land Rover reported sales of 64,434 units, down 35.6 percent compared to year-ago period. The company, however, said it continued to see strong demand for its products with global retail orders at over 1,68,000 units as of March 2022.

Bandhan Bank: Societe Generale acquired 1.18 percent stake in the bank through open market. European financial services group Societe Generale acquired more than 1.9 crore equity shares (1.18 percent stake) in Kolkata-based private sector lender Bandhan Bank via open market transactions. These shares were bought at an average price of Rs 306.55 per share...Read More

Trade setup for today: Top 15 things to know before the opening bell

One stock - RBL Bank - is under the F&O ban for April 11. The stock fell 10 percent in last four consecutive sessions.

The buying interest was returned to the market again after selling pressure for the previous three straight sessions, on April 8. Keeping policy rates unchanged with increasing inflation forecast and lowering growth estimates by the Reserve Bank of India, as well as positive global cues supported the market sentiment.

The BSE Sensex jumped more than 400 points to 59,447, while the Nifty50 rose 145 points to 17,784 and smartly defended the 17,600 mark, forming a bullish candle on the daily charts as the closing levels were higher than opening levels. On the weekly charts, there was a Doji kind of pattern formation as closing was near opening levels. The index settled with six-tenth of percent gains during the week.

"Technical trends were sending mixed signals as the daily chart is hinting at a short-term bottom but on the weekly scale, an indecisive Doji had been formed, raising questions mark about the up move which is in progress from the lows of 15,671 over a period of five weeks," Mazhar Mohammad, Founder & Chief Market Strategist at Chartviewindia, said...Read More

According to Business Standard

Stocks to Watch: TCS, Veranda, Voda Idea, Exim Bank, Cadila, Banks, IT

TCS is likely to announce results after market hours on Monday. The IT stocks will be in focus with Infosys too to announce earnings later this week.

The key benchmark indices are likely to start trade for the week on a quiet note amid subdued global cues. That apart, Q4 earnings led by IT shares are likely to dictate the market trend this week. As of 07:30 AM, the SGX Nifty April futures quoted at 17,811 as against the spot Nifty close of 17,784 last week.

Earnings Watch: TCS, Kesoram Industries, Delta Corp and Birla Tyres were some of the prominent companies to announce Q4 results today.

Q4 expectations: Brokerages expect another quarter of high double-digit growth in the earnings of the country’s top companies that are part of the benchmark Nifty50 index. According to brokerage estimates, the combined net profit of the companies in the index is expected to grow by 29.1 per cent year-on-year (YoY) in the January-March 2022 quarter (Q4FY22) to an all-time high of Rs 1.61 trillion, from around Rs 1.25 trillion a year ago...Read More



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