WILL RELIANCE BE THE SUPPORT SYSTEM OF MARKET ?

"BUY RELIANCE FUT 2 LOT ABOVE 2010 TARGET 2029/2035 SL 1990"

On Friday heavy selling in key spaces including financials stocks such as hdfc twins kept both indices in the red throughout the day. Among the blue chip stocks, ongc was the top gainer rising 4%. Coal india, grasim, divi’s labs, indianoil, sun pharma, dr reddy’s labs, bpcl, wipro and cipla were other gainers.Hdfc was the top loser in the nifty pack, falling 4%. Hdfc bank, icici bank, kotak mahindra bank, asian paints, tata motors, m&m, adani ports and tcs were other stocks were ended in red.

Reliance industries numbers today will set the tone for the next week's opening along with developments on the covid front. Reliance industries is the country's largest corporate house by market-capitalization, is scheduled to announce march quarter earnings today. The consolidated revenue is expected to grow in double digits on a sequential basis, while the profitability may see moderate growth due to sharp surge in tax expenses. The company is expected to report 6-9% QoQ growth in consolidated  supported by all business segments, including recovery in retail, for the quarter ended march 2021. Reliance industries share price has gained around 2 percent in the current calendar year 2021, and has rallied 44% in the last one year period, playing supportive role for the index.
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FASTEN SEATBELT!!! NIFTY IS READY TO FLY IN MAY

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Fresh highs on the nifty may be coming sooner than expected but 15000-14950 is likely to act as a strong hurdle and that is what played out on  morning as the index touched 15000 but failed to hold on to it. If the momentum continues, the nifty should be able to hit fresh record highs probably in may.

Moving average convergence divergence,a trend-following momentum indicator, has given a bullish crossover, which suggests a positive outlook for the bulls. The earnings outcome of companies in the banking, IT, and auto space led the up move, which helped to boost investor’s confidence. The third year of normal monsoon with increased government spending is good news for auto companies, such as Hero MotoCorp with large rural market share. Mahindra & Mahindra's Q3FY21 performance was driven by good performance in both the tractors and autos businesses.
TOP GAINERS-JSWSTEEL,TATASTEEL,HINDALCO,UPL
TOP LOSERS-SBIN,HDFC,LT,TATAMOTORS,M&M

BULLS ON WILD RUN WITH BANKS & AUTOS

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Today markets successfully closed above the 14700 level and this is a positive signal. We should now be headed to 15100. On the earnings front, companies such as Bajaj Auto, Titan and HUL announced their numbers during the day which further add to the volatility. We reiterate our positive yet cautious view on markets and expect Nifty to test the 15000 zone.Bulls went on a rampage with banks & autos especially the two-Wheeler stocks being sought after in what turned out to be a bullish session of trade through the day.The earnings outcome of companies in the banking and auto space thanks to Axis Bank and TVS motors led the up move as it further boosted investor’s confidence. The HDFC twins & Bajaj twins lent good support to the indices with the broader market displaying strength across sectors.
TOP GAINERS-BAJFINANCE,INDUSINDBANK,SBIN,ICICIBANK
TOP LOSERS-HINDALCO,DIVISLAB,HDFCLIFE,BPCL,TATASTEEL

WHAT SHOULD INVESTOR DO WITH ICICIBANK & HCL STOCKS ???

BUY ICICIBANK FUT 2 LOTS ABOVE 590 TARGET 597/605  SL 580

SELL HCL FUT 2 LOTS BELOW 914 TARGET 906/902  

SL 923

Today ICICI Bank share price added 6% in the early trade after the company announced its fourth-quarter earnings on Saturday. The private sector lender on April 24 clocked a 260% year-on-year growth in standalone profit at Rs 4402 crore for the quarter ending March 2021.The profit in the corresponding period in the previous year stood at Rs 1221crore.ICICI Bank reported a strong quarter, led by healthy business performance across all business segments. Strong operating performance was aided by healthy NII growth though weak other income affected net earnings. The improving granularity of the book provides better earnings visibility for ICICI Bank. Today ICICI Bank was quoting at Rs 588.70, up 3.22%.The share touched a 52-week high of Rs 679.30 & a 52-week low of Rs 285.70 in last year & now It is trading 12.35% below its 52-week high and 108.4% above its 52-week low.

Today HCL Technologies stocks price fell 3% in early trade after the company reported muted numbers for the fourth quarter of fiscal 2021. We believe the company will continue to trade at a higher discount to TCS/INFY/WIPRO on account of lower revenue growth and lower profitability. The strong deal bookings, a healthy deal pipeline, strong net employee addition and rising spend on transformation initiatives by clients would help HCL Tech deliver strong revenue growth in FY2022E. The share touched a 52-week high of Rs 1,073.55 and a 52-week low of Rs 463.45 respectively.Currently, it is trading 12.37% below its 52-week high and 103 % above its 52-week low.
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