Hog Kong slides 2% to new 2023 low, Asia markets mixed as China manufacturing contracts, Nik, 30857/-472/-1.51% Dj,33042/-51/-0.15% Vix17.46. US stock futures re little changed as traders await debt ceiling progress, in washington,
Oil,69.2,edges up after steep losses, ahead of US debt ceiling vote, Gold,1958.7, Bonds, 3.673, Dollar,sags versus yen after Japan warning, Aussie slides on chinese data,
Nifty:18633.85/%;Candle:OF,Doji; Bank Nifty:44436.35/124.45/0.28% Candle:OF,Short day green ; HB:OF,Doji,1641
News:The SGX Nifty indicates a flat start for the broader index with a loss of 54.5 points on Wednesday. SGX futures stood at 18,675.
Events/Results:Adani Ports Q4 Results: Net profit rises 5% to Rs 1,159 crore, Apollo Hospitals Q4 net profit rises 50.5% to Rs 146 crore, lags estimate, The SGX Nifty indicates a flat start for the broader index with a loss of 54.5 points on Wednesday. SGX futures stood at 18,675.
The National Stock Exchange has not added any stock to its F&O ban list for May 31.
Market wrap up(DWM,T,N,E):The market maintained an upward journey for the fourth consecutive session with the Nifty50 closing at a five-and-half-month high on May 30, driven by select banking and financial services, FMCG and technology stocks. “Despite the muted beginning, the overall trend remained positive as the index stayed above critical moving averages. Furthermore, the Relative Strength Index (RSI) showed a bullish crossover, indicating a favourable market sentiment,” However, resistance was observed at the 18,800 mark, which could potentially limit further upside movements, The broader markets also ended with moderate gains, with the Nifty Midcap 100 and Smallcap 100 indices rising 0.25 percent and 0.22 percent respectively.
Asia markets trade mixed ahead of US vote on debt ceiling deal, Hong Kong set for new lows,Nik,31148/-84/-0.28% Dj,33093/328/1% Vix17.46/-2.7% US stock futures rise after GOP and white house reach tentative debt debt ceiling pact,BC 27762/191/0.69%
Oil, 73, rises after provisional debt deal, Gold, 1962, slip on us debt limit deal, Fed rate hike bets, Bonds,3.767/yield rises as investors absorb key inflation data, Dollar,elevated as sticky inflation cements fed hike bets , debt ceiling deal lifts optimism,
Nifty:18598.65/99.3/0.54%;Candle:OGU, Doji; Bank Nifty:44311.9/293.9/0.67% Candle:OGU,Doji ; HB:OGU.Short day green, 1636,
News:IRCTC Q4 Results: Net profit rises 30% YoY to Rs 279 crore; final dividend declared, With $3.31-trillion valuation, India reclaims fifth spot in global stock market tally, The SGX Nifty indicates a flat start for the broader index with a loss of 5.5 points on Tuesday. SGX futures stood at 18,694.
Events/Results:Adani Ports and Special Economic Zone, Mankind Pharma, Torrent Pharmaceuticals, Action Construction Equipment, Aegis Logistics, Apollo Hospitals Enterprise, Astrazeneca Pharma India, Bajaj Healthcare, Birla Tyres, Gujarat Mineral Development Corporation, Graphite India, Greenply Industries, Heranba Industries, Indiabulls Real Estate, Insecticides (India), KRBL, Lemon Tree Hotels, Lumax Auto Technologies, Lux Industries, Marksans Pharma, Mazagon Dock Shipbuilders, Panacea Biotec, Patanjali Foods, PC Jeweller, Peninsula Land, Prestige Estates Projects, Rashtriya Chemicals & Fertilizers, Reliance Infrastructure, Suzlon Energy, Uflex, Vakrangee, V-Guard Industries, Vivimed Labs, and Welspun Corp will be in focus ahead of quarterly earnings on May 30.
The National Stock Exchange has not added any stock to its F&O ban list for May 30.
Market wrap up(DWM,T,N,E):The market extended gains for the third consecutive session on May 29, with the Nifty50 climbing to the highest level of the current calendar year. Banking and financial services, auto, FMCG and metal stocks supported benchmark indices. The BSE Sensex rallied 345 points to 62,846, while the Nifty50 jumped 99 points to 18,599 and formed a Doji kind of candlestick pattern on the daily charts, indicating indecisiveness among buyers and sellers about future trends, especially after a significant rally in the last few sessions. “The Nifty experienced a relatively stable trading session, after opening with an upside gap. However, it managed to break out of its consolidation phase, indicating a potential shift in market direction,” These observations suggest that the market may remain within a defined range with a bullish undertone in the coming days, On the broader markets front, the Nifty Midcap 100 and Smallcap 100 indices underperformed frontliners, rising 0.4 percent and 0.3 percent respectively
Japan stocks jump 2% Asia markets rise after US reaches tentative debt ceiling deal, Nik,31427/510/1.7% Dj,33093/329/1% Vix17.95/-6.2% US stocks rally friday on hopes for a debt ceiling deal, Nasdaq notches fifth straight week of wins.
Oil,72.9;prices rise as US closes in debt deal; Gold,1946.1;wobbly as sticky inflation drives up US rate hike bet; Bonds,3.81. treasury yield rises as investors absorb key inflation data; Dollar,set for 3rd week of gains as debt talks looms large; BC 26705/230/0.87%
Nifty:18499.35/178.2/0.97%;Candle:OGU,Short day green; Bank Nifty :44018/336.6/0.77% Candle:OF,Short day green. ; HB:Of,Doji, 1615
News:The SGX Nifty indicates a positive start for the broader index with a gain of 83 points on Monday. SGX futures stood at 18,632. Aurobindo Pharma posts 12% slump in Q4 net profit at Rs 506 crore, revenue jumps 11%, FPIs invest Rs 37,316 crore in May on strong domestic macro fundamentals,
Events/Results:Ipca Laboratories, Indian Railway Catering and Tourism Corporation, Adani Transmission, Allcargo Logistics, Ansal Housing, Bajaj Hindusthan Sugar, Campus Activewear, Force Motors, HeidelbergCement India, Hikal, ITI, Jubilant Pharmova, KNR Constructions, Natco Pharma, NBCC (India), NHPC, The New India Assurance Company, Rail Vikas Nigam, Shriram Properties, Sobha, Speciality Restaurants, TCNS Clothing, Torrent Power, Vadilal Industries, Vijaya Diagnostic Centre, and Zee Media Corporation will be in focus ahead of quarterly earnings on May 29.
The National Stock Exchange has not added any stock to its F&O ban list for May 29.
Market wrap up(DWM,T,N,E):The market made an impressive start to the June series, with the benchmark indices closing a percent higher from the previous day on May 26 on buying across sectors. FMCG, IT, metal, and pharma were the star performers gaining up to 1.5 percent. “The short-term market outlook is considered robust, with key levels at 18,350 acting as trend deciders. If the index moves above these levels, it could rise towards 18,600 and potentially continue further to 18,680,” If the index slips below 18,350, traders may prefer to exit long positions, The broader markets also joined the rally but underperformed the benchmarks. The Nifty midcap 100 index gained 0.8 percent and the smallcap 100 index rose half a percent. India VIX, the volatility index, was down 4.95 percent to 11.90 from 12.52 levels.
Asia markets mostly rally after wall street sees tech rally, Nik,31031/228/0.74% Dj,32765/-35/-0.11% Vix9.14/-4.4% S&P500 futures are slightly lower as investors watch for debt ceiling updates , inflation data,
Oil,71.75, falls as russia down play opec+ cuts; Gold,1943.7,hits 2 month low, on debt talk progress, rate hike bets, Bonds,3.788; Dollar, lifts dollar , euro soft as germany enters recession, BC 26272/-5/-0.02%
Nifty:18321.15/35.75/0.2%; Candle:Of,Doji; Bank Nifty:43681.4/3.55/0.01% Candle: OF,Doji ; HB:1613;OF,Doji
News:The SGX Nifty indicates a negative start for the broader index with a loss of 43 points on Friday. SGX futures stood at 18,427. Vodafone Idea Q4 net loss narrows to Rs 6,419 crore in FY23, Emami consolidated net profit down 60% in Q4 FY23
Events/Results:
Oil and Natural Gas Corporation, Mahindra & Mahindra, Sun Pharmaceutical Industries, Grasim Industries, Engineers India, Astra Microwave Products, Avalon Technologies, BEML, BHEL, BL Kashyap and Sons, Chambal Fertilisers & Chemicals, City Union Bank, Easy Trip Planners, Edelweiss Financial Services, Finolex Cables, HUDCO, Indigo Paints, Inox Wind, Karnataka Bank, MOIL, Samvardhana Motherson International, Info Edge (India), NCC, PNC Infratech, Shree Renuka Sugars, Sunteck Realty and Wockhardt will be in focus ahead of quarterly earnings on May 26.
Aurobindo Pharma, Power Finance Corporation, Ahluwalia Contracts, Balkrishna Industries, Barbeque-Nation Hospitality, GMR Airports Infrastructure, Godfrey Phillips India, Greenlam Industries, IFB Industries, JK Cement, Jaiprakash Associates, Krsnaa Diagnostics, PTC India, Reliance Communications, Reliance Home Finance, Sadbhav Engineering, and Shalimar Paints will be in focus ahead of quarterly earnings on May 27.
Market wrap up(DWM,T,N,E):The market remained volatile on the monthly F&O contracts expiry day, May 25 and managed to report moderate gains due to buying in late trade. However, global markets remained under pressure amid ongoing negotiations for the US debt ceiling. The BSE Sensex gained 99 points to close at 61,873, while the Nifty50 climbed 36 points to 18,321, and formed a bullish candlestick pattern with a long lower shadow on the daily charts, indicating buying at lower levels, though there were lower highs, lower lows formation. “We observe that Nifty did move below the 20-day SMA (18,223), but it recovered and closed well above it, indicating the bulls remain in control after two sessions of weakness,” the uptrend to continue in the coming sessions. “Further upsides are likely once the immediate resistances of 18,393-18,420 are taken out. The immediate target is 18,459. Crucial support to watch for weakness is at 18,202,” The broader markets also closed higher with the Nifty Midcap 100 and Smallcap 100 indices rising 0.4 percent and 0.1 percent, respectively, while the falling volatility gave comfort to bulls. The India VIX declined by 4.51 percent to 12.52 levels, from 13.11 levels.
Asia markets mixed ahead of Bank Of Korea decision, Hing Kong stocks 2 month low, Nik,30867/175/0.57% Dj,32800/-255/-0.77% Vix 20.03, 8.1% Dow futures slip as Fetch places US AAA ratings on negative watch, BC26253/-945/-3.5%
Oil,74.2, gain 1% on falling US stockfiles, saudi warning, Gold, 1960.1, Bonds,3.736, Dollar, Gains on resilient us economy , flight to safety,
Nifty:18285.4/-62.6/-0.34%;Candle:OGD,Doji; Bank Nifty:43677.85/-276.6/-0.63% Candle:OGD,Doji ; HB:OGD, Short day red,1615;
News:The SGX Nifty indicates a negative start for the broader index with a loss of 60 points on Thurday. SGX futures stood at 18,230. LIC Q4 profit surges nearly 6-fold to Rs 13,428 crore, BSE, NSE put Adani Enterprises under short-term ASM framework,
Events/Results:Zee Entertainment Enterprises, AIA Engineering, Aster DM Healthcare, Bharat Dynamics, Dredging Corporation of India, eClerx Services, Emami, General Insurance Corporation of India, GMM Pfaudler, Gujarat State Fertilizers & Chemicals, Vodafone Idea, Indian Energy Exchange, Infibeam Avenues, Indian Railway Finance Corporation, ITD Cementation, Kolte-Patil Developers, Max India, Mishra Dhatu Nigam, Page Industries, Radico Khaitan, Steel Authority of India, Shilpa Medicare, Strides Pharma Science, Triveni Engineering, and TTK Prestige will be in focus ahead of quarterly earnings on May 25.
The National Stock Exchange has retained Delta Corp, and Indiabulls Housing Finance to its F&O ban list for May 25.
Market wrap up(DWM,T,N,E):The market has seen a correction for the first time in the last four consecutive sessions, falling a third of a percent on May 24 on weak global cues, and ahead of the expiry of monthly futures and options contracts on Thursday. The BSE Sensex declined 208 points to 61,774, while the Nifty50 dropped 63 points to 18,285 and formed a Doji sort of candlestick pattern on the daily timeframe, indicating the tug of war between bulls and bears. “On the daily chart, we observe that the Nifty has taken a breather in the last two sessions after recently bouncing back from the 20-day SMA (simple moving average). We therefore expect the uptrend to continue, despite selling seen in the last two sessions,” the immediate upside target for the Nifty is at 18,459 once the resistance of 18,420 is taken out. Moreover, as the longer time frame indicates that the Nifty remains in an uptrend, he believes that the immediate target of 18,459 is also likely to be taken out in the coming sessions. The increase in volatility also gave discomfort for bulls. India VIX, the fear index, increased by 4 percent to 13.11 levels, from 12.61 levels.
Asia markets weaker in early trade, as US debt ceiling still elusive. Nik,30709/-251/-0.8% Dj,33056/-231/-0.69% Vix18.53/7.7% US stock futures are slightly higher as investors eye debt ceiling clash in washington,BC 27173/310/1.2%
Oil,73.88,gains after saudi warns short sellers watch out, Gold,1975.8, recovers as debt ceiling talks makes little progress, Bonds,3.69; touches highest level since march, Dollar,higher as US debt ceiling concerns keep traders nervous,
Nifty:18348/33.6/0.18%;Candle:OF;Doji; Bank Nifty:43954.45/69.35/0.16% Candle:OF ,Doji; HB:OF,Short day red,1637;
News:The SGX Nifty indicates a negative start for the broader index with a loss of 89 points on Wednesday. SGX futures stood at 18,280., NMDC Q4 results: Net profit rises 22% to Rs 2,277 crore; revenue falls 14%, Biocon Q4 net profit rises 31% to Rs 313 crore; declares dividend,
Events/Results:Hindalco Industries, National Aluminium Company, FSN E-Commerce Ventures, Oil India, 63 Moons Technologies, Ashoka Buildcon, Bayer Cropscience, Brigade Enterprises, Cummins India, Fine Organic Industries, Gujarat Pipavav Port, Garden Reach Shipbuilders & Engineers, ICRA, India Cements, IRCON International, JB Chemicals & Pharmaceuticals, Nava, The Phoenix Mills, Hitachi Energy India, Trident, Titagarh Wagons, and Wonderla Holidays will be in focus ahead of quarterly earnings on May 24.
The National Stock Exchange has added Delta Corp, and retained Indiabulls Housing Finance to its F&O ban list for May 24.
Market wrap up(DWM,T,N,E):It was about to be a strong day. But selling in the last hour of trade erased gains, and as a result, the market closed with moderate gains on May 23. The benchmark indices extended their northward journey for the third consecutive session. The BSE Sensex rose 18 points to 61,982, while the Nifty50 climbed 34 points to 18,348 and formed a small-bodied bearish candlestick pattern with a long upper shadow and small lower shadow on the daily charts, indicating selling at higher levels but strongly held 18,300 mark and continued higher tops and higher bottoms formation for yet another session . “During the day, the Nifty index exhibited a predominantly sideways movement, hovering around the 18,400 level. Despite the lack of significant fluctuations, market sentiment remained optimistic as the Nifty managed to sustain its position above the support level of 18,300,” A notable resistance was observed at 18,500. If the Nifty manages to break through this resistance decisively, it could potentially trigger a rally towards the 18,800 level, The broader markets also closed higher with the Nifty Midcap 100 index rising 0.6 percent and Smallcap 100 index up 0.02 percent.
Asia pacific markets mixed as US debt ceiling talks set to resume; Nik, 30849/44/0.14% Dj,33426/-109./-0.33% Vix16.81/4.7%, Stocks end fri day lower as GDP negotiations halt debt ceiling talks, BC 26667/-398/-1.51%
Oil,71.67, slips as debt talks stop, Fed warns of high inflation, Gold, 1980, gets lifeline from renewed banking jitters , Powell comments, Bonds,3.682,rises slightly after FED Chair Powell’s latest comments, Dollar, skids as powell hints at june pause , debt talks stall,
Nifty:18203.4/73.45/0.41%;Candle:OF,Doji; Bank Nifty:43969.4/217.1/0.5% Candle:OF,Diji ; HB:OF,Doji,1647,
Nifty :Supp Rest
Banknifty:Supp Rest .
SGX Nifty:% FII Long48%FutCash;-113;Opt97%
OI data Nifty ( max pain W18200M)
OI data Bank Nifty Nifty(max pain W M)
News:
The National Stock Exchange has retained L&T Finance Holdings, Aditya Birla Fashion & Retail, Balrampur Chini Mills, Delta Corp, GNFC, and Manappuram Finance to its F&O ban list for May 22.
Events/Results:Shree Cement, Bharat Petroleum Corporation, PB Fintech, Aditya Birla Fashion and Retail, CESC, Capri Global Capital, EIH, Finolex Industries, Fusion Micro Finance, Gujarat Alkalies & Chemicals, HCL Infosystems, HEG, Indiabulls Housing Finance, Radiant Cash Management Services, SJVN, Sun Pharma Advanced Research Company, and Waaree Technologies will be in focus ahead of quarterly earnings on May 22.
Market wrap up(DWM,T,N,E):The market closed higher on May 19 after three days of losses, as buying in the last hours helped the Nifty50 close above 18,200. Information technology, banks, auto and some metal stocks supported the benchmark indices. “A small positive candle was formed on the daily chart with a long lower shadow. Technically, this candle pattern indicates the formation of a bullish hammer-type pattern. Normally, formation of such hammer patterns post reasonable decline signal possible reversal on the upside post confirmation,” The confirmation of the bullish hammer pattern could pull the Nifty towards the crucial resistance band of 18,400-18,500 again, The short-term trend for the Nifty remains choppy but the emergence of buying interest from the lows on May 19 raises hopes of an upside bounce,
Asia markets rise as US debt ceiling talks end with no deal, Nik,31269/183/0.6% Dj,33286/-140/-0.42% Vix17,21/2.4%. US stock futures are slightly up, as wall street watches for debt ceiling progress, BC 27099/199/0.74%
Oil, 72, rises 1%as supplies shrink, demand seen higher, Gold, dips as debt officials suggest higher for longer US rates, Bonds,3.711, rise as investors weigh debt ceiling talks, Fed rate policy, Dollar,gains against yen, as fed policy and debt ceiling in focus,
Nifty:18314.4/111/0.61%;Candle:OF,Short day green; Bank Nifty:43885.1/-84.3/-0.19% Candle:OF,Short day red ; HB:OF, Short day red,1642.
News:The SGX Nifty indicates a positive start for the broader index with a gain of 29 points on Tuesday. SGX futures stood at 18,365. BPCL Q4 Results: Net profit zooms 159% YoY to Rs 6,478 crore, Indiabulls Housing finance Q4 net profit declines 14% to Rs 263 crore,
Events/Results:JSW Energy, Akzo Nobel India, Amara Raja Batteries, Ashok Leyland, Bajaj Electricals, Biocon, CMS Info Systems, Dishman Carbogen Amcis, Dixon Technologies (India), Dreamfolks Services, Fortis Healthcare, Linde India, Metro Brands, NMDC, Sudarshan Chemical Industries, Thyrocare Technologies, TTK Healthcare and Unichem Laboratories will be in focus ahead of quarterly earnings on May 23.
The National Stock Exchange has added Indiabulls Housing Finance, and retained L&T Finance Holdings and Manappuram Finance to its F&O ban list for May 23.
Market wrap up(DWM,T,N,E):It was a good start to the week as the market closed higher, continuing the uptrend for the second consecutive session on May 22, driven largely by technology and metal stocks. Pharma, oil & gas and select FMCG stocks also aided the uptrend. The BSE Sensex climbed 234 points to 61.964, while the Nifty50 rose 111 points to 18,314 and formed a bullish candlestick pattern on the daily timeframe, negating lower highs and lower lows formation of previous four straight sessions. Zooming into 15 minutes chart, we observe that Nifty has reversed its recent short-term downtrend. The reversal was confirmed when the Nifty took out the previous swing high of 18,186 last Friday. Further upsides are now likely once the immediate resistance of 18,335 is taken out. Crucial support is now at 18,178,” On the daily chart, he observes that Nifty found support near the 20-day SMA (simple moving average) and has bounced back in the last two sessions, indicating the uptrend looks set to continue. “Immediate upside target for the Nifty is at 18,459 once the immediate resistance of 18,335 is taken out,” The broader markets also joined bulls as the Nifty Midcap 100 and Smallcap 100 indices gained six-tenth of a percent respectively, but the overall market breadth was equal.
Japan’s stock surge to highest since 1990 as G7 meeting is underway, Nik,30803/232/0.76% Dj,33536/115/0.34% Vix16.05, S&P 500 futures rise slightly on thursday evening, BC 26806/-569/-2%
Oil,72,prices slide 2% as strong US economic data boosts dollar, Gold,1958, slides as robust US data drive hawkish Fed bets, Bonds,3.638, yields rise after dalla’s fed president says economic data just doesnt yet justify rate hike, Dollar,rises 7 week high bouyed by data , debt ceiling optimism,
Nifty:18129.95/-51.8/-0.28%;Candle:; Bank Nifty:43752.3/53.6/0.12% Candle: ; HB:
News:The SGX Nifty indicates a positive start for the broader index with a gain of 41 points on Friday. SGX futures stood at 18,220. SBI posts record Q4 net profit: Key highlights from the earnings , ITC Q4 net profit up 21% at Rs 5,087 crore, revenue up 5.6%,
Events/Results:
NTPC, Power Grid Corporation of India, Punjab National Bank, JSW Steel, Zomato, Abbott India, Alkem Laboratories, Bandhan Bank, Cochin Shipyard, Crompton Greaves Consumer Electricals, Dilip Buildcon, Delhivery, Elgi Equipments, EPL, GATI, Glenmark Pharmaceuticals, Godrej Industries, IRB Infrastructure Developers, JK Lakshmi Cement, Minda Corporation, Muthoot Finance, Narayana Hrudayalaya, NLC India, Sun TV Network, VA Tech Wabag, and Welspun Enterprises will be in focus ahead of quarterly earnings on May 19.
Divis Laboratories, Andhra Petrochemicals, Arihant Capital Markets, Atul Auto, Balaji Amines, Bharat Electronics, Godawari Power & Ispat, Multi Commodity Exchange of India, Nilkamal, Swan Energy, VRL Logistics, and Zuari Agro Chemicals will be in focus ahead of quarterly earnings on May 20.
The National Stock Exchange has added L&T Finance Holdings, and retained Aditya Birla Fashion & Retail, Balrampur Chini Mills, Delta Corp, GNFC, LIC Housing Finance, Manappuram Finance, and Punjab National Bank to its F&O ban list for May 19.
Market wrap up(DWM,T,N,E):The market continued to see southward journey for three days in a row on May 18 and closed at a near-two-week low on the Nifty despite positive trend in global counterparts, but Bank Nifty performed better than benchmarks. The BSE Sensex fell 129 points to 61,432, while the Nifty50 dropped 52 points to 18,130 and formed bearish candlestick pattern on the daily scale with making lower highs, lower lows for the third straight session. “Future open interest data indicated build-up of short positions in Nifty. Unless Nifty gives a higher close on the daily chart, the correction is likely to continue,” 18,050 is likely to act as an immediate support for the index, while a break of this level can even take Nifty to 17,800 levels, where next visible support is placed. “18,400 is likely to act as resistance for Nifty as we head into the last week of May expiry, The India VIX, which is the fear indicator, has risen nearly 12 percent since the start of May expiry series, giving serious discomfort to the bulls. The broader markets were also under pressure with the Nifty Midcap 100 and Smallcap 100 indices falling around half a percent each.
Asia market rise as wall street lifted by hopes of debt ceiling deal. Nik, 30533/440/1.5% Dj,33420/408/1.24% Vix16.87/-6.2% US futures are little changed as traders hope for a debt ceiling, BC 27407/425/1.6%
Oil,72.7,settles up $2 optimism about US debt ceiling, demand, Gold, 1986, slips as dollar rises on hawkish cues from Fed officials, Bonds,3.564, treasury yield ticks higher as hope rises around possible debt ceiling deal, Dollar, scales 7 week peak, after solid data, deft ceiling optimism,
Nifty:18181.75/-104.75/-0.58%;Candle:OF, Short day red; Bank Nifty: 43698.7/-205/-0.47% Candle:OF, Short day red; HB:OF,
News:The SGX Nifty indicates a positive start for the broader index with a gain of 58 points on Thursday. SGX futures stood at 18,281. Jubilant Foodworks Q4 net profit falls 59% on hike in raw material costs, ITC Q4 preview | Net profit to grow 14%, cigarette volume growth pegged at 13%
Events/Results:State Bank of India, ITC, GAIL (India), InterGlobe Aviation, Arvind, Bata India, Clean Science and Technology, Container Corporation of India, Gland Pharma, Gujarat Narmada Valley Fertilizers & Chemicals, Gulf Oil Lubricants India, Krishna Institute of Medical Sciences, PTC India Financial Services, PI Industries, PNB Housing Finance, RITES, Shalby, Tata Elxsi, Ujjivan Financial Services, United Spirits, and Zydus Lifesciences will be in focus ahead of quarterly earnings on May 18.
The National Stock Exchange has added Aditya Birla Fashion & Retail, LIC Housing Finance, and retained Balrampur Chini Mills, Delta Corp, GNFC, Punjab National Bank, and Manappuram Finance to its F&O ban list for May 18.
Market wrap up(DWM,T,N,E):The market succumbed to selling pressure for the second consecutive session with the benchmark indices falling six-tenth of a percent on May 17, dragged by technology, metal, banking & financial services, and pharma stocks. “A long negative candle was formed on the daily chart with a lower shadow. Technically, this pattern signals a short-term reversal in the market on the downside. After the formation of a bearish engulfing pattern on Tuesday, the market seems to have declined with follow-through action post bearish pattern,” Immediate support has been broken on the downside at 18,250 levels and the Nifty is now sliding down to another crucial support of 20-day EMA (exponential moving average) around 18,050 levels. “The recent swing high of 18,458 of May 15 could be considered as a new higher top of the sequence. The present weakness could be in line with another higher bottom formation at the lows. Immediate support is at 18,050 levels,”
