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In
this week market witnessed a volatile , especially after the WPI inflation
numbers hit their 11-year high at 10.49% for April. While higher inflation
raised some concerns, its near-term impact was effectively neutralized by a
drop in the number of Covid-19 cases in India. Nifty closed the week on a positive note and crossed the previous short term resistance of 15,050. Nifty needs to close decisively above 15,200 level to start a fresh bullish move within the channel. As long as it does not take a decisive direction, we maintain a sideways to mild bullish outlook.
A
jump in bank and IT stocks, optimism over recent fall in Covid cases, easing of
lockdown restrictions in some states and strong quarterly numbers from blue-chip
companies pushed domestic stocks higher in this week. Positive global cues
added to the sentiment, as the BSE Sensex rallied 976 points to end above
50,500 level. Nifty surged 1.8% & closed above its psychological mark of
15,550-mark. Nifty constituent SBI jumped 5 % after reporting an 80% surge in
Q4 profit. Peers HDFC Bank, IndusInd Bank and ICICI Bank climbed 4 % each,
helping the index post solid gains for the day. JSW Steel and Hindalco also
gained after reporting multifold jumps in their Q4 bottom lines. Stocks such as
Bharti Airtel, M&M, UPL and Tata Motors added 2%. But sugar stocks such as
Bajaj Hindustan, Sakthi Sugars, Simbhaoli Sugars and Dharani Sugars fell 5 %
each after the government decided to cut sugar export subsidies for the current
season. In the broader market, every two of three stocks settled lower. A total
of 327 stocks hit fresh 52-week highs, while 440 stocks hit their respective
upper circuit limits. Fear gauge India
eased 3 %t to 19 level, comforting the bulls.
BUY TATAMOTORS FUT 2 LOTS ABOVE 314 TARGET
320/335 SL 305
SELL TATAMOTORS FUT 2 LOTS BELOW 310 TARGET 302/289 SL 318
Today Tata motors -4.22 % its board will meet next week to consider a
proposal to raise funds through various means. The board meeting is scheduled
to be held on tuesday, may 18, 2021 to consider and approve the audited
financial results for the quarter and financial year ended march 31, 2021. Tata
motors did not give an indication on the quantum of the amount that the company
intends to raise.
On this weekend nifty closed at 14678 with the loss of nearly1% &
formed a dark cloud cover sort of candle pattern on weekly chart, which is a
bearish reversal candle by nature. Among stocks, asian paints, upl, itc, nestle
india, berger paints, colgate palmolive, l&t, icici prudential, marico,
power grid and mcdowell holdings witnessed bullish setup, while weakness was
seen in jindal steel & power, dlf, gail, container corporation, nalco,
piramal enterprises,indusind bank, exide industries, l&t
finance holdings, m&m, havells and mrf. Except capital goods and fmcg, all
other sectoral indices ended in the red, with metal, oil & gas, healthcare,
auto and realty indices falling 2%.among individual stocks, a volume spike of
more than 100% was seen in nalco, pi industries and pidilite industries.
Accourding us friday's low is expected to act as
a key level in the coming sessions, and if it holds the same, then there could
rally towards recent highs.
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Increased cases of corona have led to increased market fluctuations. The market has lost about 5 % from its high of February 2020. We suggest that falls are also wary of the second wave of Corona in India. Covid cases are expected to reach peak soon. Hence, the market may remain sideways but there is no possibility of major fall in it. Once the corona cases reach their peak, then the corona curve will begin to become flat. After that, there will be a fast recovery in the market.We suggest some stocks for buy in upcoming days ๐
ESCORTS - The tractor industry is expected to witness strong growth
in FY22 due to the normal monsoon forecast. Apart from this, construction
equipment and railway business will also see good growth. In the next 2 years,
the earning growth of escorts can be in double digit.
ICICI Bank- It is expected that ICICI Bank will recover faster than other banks due to injury caused by the wave of covid-19. The bank's loan growth and NIMs have been strong in the fourth quarter of FY 2021. This sequence will continue even further.The company will benefit from the government focus on L&T-infrastructure. The company will also get strong support from overseas markets and defense sector.
ICICI PRUDENTIAL - Channel diversification and new
initiatives on product front will see strong growth in the company in FY 2022.
Further, the company's New Business Value & Embedded Value can also see a growth of 15% & 8 %.
Currently this stock is available at a much lower price than its peers.
INFOSYS- Infosys has given a very good revenue and margin guideline
for FY 2022. It is expected that the company's earnings will grow at 15 per
cent in FY 2022 and 16.2 per cent in FY 2030. Further, we can get good returns
in this stock.
"BUY TATASTEEL FUT 2 LOTS ABOVE 1075 TARGET 1087/1095 SL 1060"
A fantastic recovery led by metals with a host of stocks in the broader markets from sugar to rice to tea and coffee kept the screen lively in a highly volatile trading session. Today titan company, reliance industries, indusind bank, axis bank and bpcl were among the top losers on the nifty. Gainers included sbi life insurance, bharti airtel, adani ports, tata steel and hul.among sectors, metal index rose over 2% while selling was seen in the banking and energy names.
Metal space has been in the spotlight
throughout 2021, compared to the single-digit return seen in nifty. Metal index
rose over 50% so far in 2021, compared with a 2% gain seen in the sensex during
the same period. We expect that the rally in the metal space will continue for
some more time; however, investors sitting on gains can book some profits.
Stocks that rose in double digits in may include names like Jsw Steel, Sail, Jindal Steel & Power,
Tata Steel, Nalco, Nmdc, Vedanta, Hindustan Zinc & Hindalco. Jsw steel,
sail and tata steel lead the pack by rising 19-42%, displaying the dominance of
large caps in the sector.
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BUYING
GIVEN IN TODAY’S POST
https://beststockfuturecalls.blogspot.com/2021/05/intraday-stock-future-trading-tips-for.html
MARUTI FUT ACHIEVED BOTH TARGET 6606/6636 BUYING GIVEN FROM 6566
BOOKED PROFIT OF 11000
SAIL
FUT ACHIEVED BOTH TARGET 125/125.50 BUYING GIVEN FROM 124
BOOKED PROFIT OF 23750
NET PROFIT-34750
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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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