Markets extended a rally on continued buying by the FIIs with the Nifty clearing the much-awaited 19,800 mark. The Indian VIX continues to gain and is at 11.7. The sudden surge in India VIX provides a warning signal that the up move remains unsustainable and may trigger a sharp reversal in the coming days. The Nifty 50 Total Return Inverse Index, which tracks the Nifty 50 Index inversely, has seen a bullish falling wedge, and we expect a major reversal on the move below 19,591. The resistance on the upside is seen at 19,786-19,810.
Nifty 50 Total Return Inverse Index
Stocks to watch
Positive Read through
- IndusInd Bank- Ops Profits Rise For 10 Qtrs Yoy And Qoq, NPA Ratios Lowest In 10 Qtrs.
- Federal Bank To Consider Issuance Of 7.3 Cr Shrs To IFC At 131.91 A Sh Via Pref Issue.
- Hero Moto Launches Xtreme 200S 4 Valve At An Ex- Showroom Price Of Rs 1.41 Lk.
- Icici Lombard premium growth is in-line with est, gross premium rises 19 pct yoy.
- Amara Raja Clarios Arbl Sells Entire Stake Via Block, Societe Generale, Tata Aia Buyers.
- Himadri Chem Q1 EBITDA Rises 52 Pct, Margin At 14.1 Pct Vs 6.8 Pct Yoy
- Bl Kashyap Bags Order Worth 369 Cr From Dlf Home Developers.
- Avanti Feeds Forays Into Pet Care, Incorporates Arm Avanti Pet Care In Hyderabad.
- Tata Motors- JLR Expected To Unveil Plans For Electric Car Battery Plant In UK
- Adani Trans adds 550 CKM Of Operational Network In Q1, Units Sold Rise 7.61%Yoy
- Lemon Tree Signs License Agreement For A 72-Room Property In Lucknow
Negative Read Through
- L&T Tech’s dollar Rev Growth Below Est At 9.8%, Organic CC Rev Growth At 0.6% QoQ
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