Markets for the week ended with marginal gains to form a hammer pattern on weekly candlestick chart after Nifty rebounded from lows of 19,333. The sharp fall in crude prices is the reason for the recovery in Indian markets but sentiment is likely to turn bearish after recent attack on Israel which has risk of escalation to a war with Iran in near future. For Nifty, 19,730 is seen as a major hurdle while a move below 19,430 should be seen as a confirmation of major breakdown in market to open short positions.
Nifty 50 chart
Stocks to watch
Positive Read through
- Reliance – For 0.59 pct stake ADIA to invest Rs. 49,670 mn in Reliance Retail.
- TCS – On 11th October board to consider share buyback with Q2 results.
- ONGC – Crude surges, Brent back to USD 90/bbl on West Asia conflict.
- Titan – Q2 Jewelry Business up by 19 pct, Eye Care Business increase by 12 pct YoY.
- MCX – SEBI’s panel approves shifting to new platform.
- Metropolis-Management commentary optimistic, Q2 Core Business sales rises by 13 pct YoY.
- Prestige – Q2 pre-revenue up by 102 pct, collections rises by 1 pct YoY.
- Reliance – For 0.59 pct stake ADIA to invest Rs. 49,670 mn in Reliance Retail.
- TCS – On 11th October board to consider share buyback with Q2 results.
- ONGC – Crude surges, Brent back to USD 90/bbl on West Asia conflict.
- Titan – Q2 Jewelry Business up by 19 pct, Eye Care Business increase by 12 pct YoY.
- MCX – SEBI’s panel approves shifting to new platform.
- Metropolis-Management commentary optimistic, Q2 Core Business sales rises by 13 pct YoY.
- Prestige – Q2 pre-revenue up by 102 pct, collections rises by 1 pct YoY.
- Reliance – For 0.59 pct stake ADIA to invest Rs. 49,670 mn in Reliance Retail.
- TCS – On 11th October board to consider share buyback with Q2 results.
- ONGC – Crude surges, Brent back to USD 90/bbl on West Asia conflict.
- Titan – Q2 Jewelry Business up by 19 pct, Eye Care Business increase by 12 pct YoY.
- MCX – SEBI’s panel approves shifting to new platform.
- Metropolis-Management commentary optimistic, Q2 Core Business sales rises by 13 pct YoY.
- Prestige – Q2 pre-revenue up by 102 pct, collections rises by 1 pct YoY.
- Reliance – For 0.59 pct stake ADIA to invest Rs. 49,670 mn in Reliance Retail.
- TCS – On 11th October board to consider share buyback with Q2 results.
- ONGC – Crude surges, Brent back to USD 90/bbl on West Asia conflict.
- Titan – Q2 Jewelry Business up by 19 pct, Eye Care Business increase by 12 pct YoY.
- MCX – SEBI’s panel approves shifting to new platform.
- Metropolis-Management commentary optimistic, Q2 Core Business sales rises by 13 pct YoY.
- Prestige – Q2 pre-revenue up by 102 pct, collections rises by 1 pct YoY.
- RVNL – From Mumbai Metro company gets LoA for project worth of Rs. 3,950 mn.
- Solar Ind – From Coal India company got orders of Rs. 18,530 mn.
- Adani Green – At Bikaner, Rajasthan company commissions 150 MW Solar Power Project.
- Gocl Corp – From Coal India got order of Rs. 7,660 mn to supply bulk explosives.
- Lemon Tree – In Jamnagar, Gujarat signs new property for 60-rooms hotel.
- Sun Pharma: U.S. FDA has accepted the new drug application for deuruxolitinib.
- Vakrangee ties up with JK Cement for sale of grey Cement through Vakrangee Kendra networks.
- Tata Steel: Crude steel production stood at 4.99 million tons and was broadly stable on QoQ and up 4% on YoY.
Negative Read through
- Tata Steel – Delivery down in India Business by 1.8 pct, Europe Delivery falls by 4 pct YoY.
- Biocon – US FDA issues complete response letter for Insulin Aspart Application.
- Bank of Baroda – Domestic Deposit up by 2.3 pct QoQ, Domestic Casa Ratio at 12 quarters low.
- Purvankara: The IT department is carrying out a search at the registered office & other premises of the company.
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