Sensex and Nifty ended in flat and Bank Nifty gained almost 0.85 percent on last Friday. On a weekly basis Sensex and Nifty was down 104 and 43 points and closed at 38963.26 and 11712.30 points. Bank Nifty was down 60 points last week and closed at 29954.15 on Friday. Nifty Mid and Small cap also down 1.75 and 1.46 percent respectively.
Sectoral front, Nifty IT, Nifty FMCG and Nifty Pharma were down whereas Nifty Metal was gainer during the week. The Indian rupee gained 82 paise and closed at 69.18 against the dollar on a weekly basis. Though there was only three days trading session last week, the Indian stock market was volatile on intraday wise.
Stable Crude Oil Price and appreciation in rupee against the dollar holds the nifty above 11700 levels. The US crude oil production has reached a record 12.3 mbpd last week, surging US output and expected an increase in supply by OPEC has stabilized the crude oil price in India. On a weekly basis, the rupee gained 82 paise and closed at 69.18 against the dollar.
Q4 Results for Nifty 50 stocks
The poor performance of YES Bank Q4 result has punished the stock last week, the stock was down 26 percent on a weekly basis. Kotak Bank Q4 profit jumps 25 percent YoY, the NII (Net Interest Income) rose 18 percent and Gross NPA stood at 2.14 percent versus 2.07 percent. Though there is a hike in NPA, an increase in Q4 profit and NII can move the stock northward in the long term.
Britannia and HUL also announced Q4 result last week, Britannia Industries reported an 11.82 percent increase in consolidated net profit at Rs 294.27 crore for the fourth quarter.
The leader of FMCG HUL has declared its Q4 result after the market on 3rd May, the company registered 14 percent jump in net profit on YoY of Rs 1538 crore against 1351 crore in last year in the same quarter.
Next week there are many Nifty 50 stocks that are going to announce its 4th Quarter result like Bharti Airtel, ICICI Bank, VEDL, Titan, LT, SBI. Along with Nifty 50 stocks, there are more than 200 mid and small caps are also lined up to announce its 4th Quarter result. Indian stock market is going to be highly volatile next week as major companies are lined up to announce its 4th Quarterly result.
Nifty 50 Stocks Gainers and Losers for the last week
| Nifty 50 Stocks-Top 5 Gainers of the Week | |||||
| Company Name | LTP (Rs ) | Prev Close (Rs ) | Change (Rs ) | Change (%) | 52 week H/L( Rs) |
| JSW Steel | 308.85 | 294.00 | 14.85 | 5.05 | 427.55-256.60 |
| HDFC Bank | 2367.95 | 2280.95 | 87.00 | 3.81 | 2,378.00-1,885.00 |
| Kotak Mah. Bank | 1417.80 | 1379.25 | 38.55 | 2.79 | 1,435.75-1,002.20 |
| B P C L | 380.75 | 371.05 | 9.70 | 2.61 | 429.15-238.55 |
| I O C L | 156.15 | 152.85 | 3.30 | 2.16 | 177.20-105.25 |
| Nifty 50 Stocks-Top 5 Losers of the Week | |||||
| Company Name | LTP (Rs ) | Prev Close (Rs ) | Change (Rs ) | Change (%) | 52 week H/L( Rs) |
| Yes Bank | 175.90 | 237.20 | -61.30 | -25.84 | 404.00-146.75 |
| Britannia Inds. | 2696.15 | 2967.70 | -271.55 | -9.15 | 3,467.18-2,628.00 |
| IndusInd Bank | 1556.60 | 1698.85 | -142.25 | -8.37 | 2,038.00-1,333.15 |
| TCS | 2132.00 | 2238.55 | -106.55 | -4.76 | 2,275.95-1,698.35 |
| Indiabulls Hous. | 705.70 | 738.45 | -32.75 | -4.43 | 1,397.00-575.35 |
Nifty and Bank Nifty Future Trading view
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| Nifty Chart 6th May |
Nifty Weekly Outlook - OHLC-(11805.00/11838.50/11712.05/11764.30)
Primary Trend: Volatile (Bias Sideways) – Expected Volatility of 14.0197 (Range of 230 Points)
Range Bound Trend: All up Moves Initiates Profit Booking (Sale) @ 11805 whereas All Down Moves Initiates Short Covering (Buy) @ 11722
If Nifty Moves Above 11777 then you should Buy with 1st Target of 11825 during the day or any point during the week by Trailing the Stop Loss from 11720- 11750- 11770- 11800- 11830- 11840 FOR the Target of 11850- 11875- 11903
If Nifty Moves Below 11745 then you should Sell with 1st Target of 11698 during the day or any point during the week by Trailing the Stop Loss from 11810- 11775- 11755- 11725- 11695- 11675 FOR the Target of 11675- 11650- 11620
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| Bank Nifty Chart 6th May |
Bank Nifty Weekly Outlook - OHLC-(30049.95/30237.00/29662.80/30060.75)
Primary Trend: Volatile (Bias Sideways) - Expected Volatility of 20.1366% (Range of 838 Points)
Range Bound Trend: All up Moves Initiates Profit Booking (Sale) @ 30250, whereas All Down Moves Initiates Short Covering (Buy) @ 29880
If Bank Nifty Moves Above 30130 then you should Buy with 1st Target of 30350 during the day or any point during the week by Trailing the Stop Loss from 29875- 30010- 30100- 30225- 30370- 30450 FOR the Target of 30460-30560-30705
If Bank Nifty Moves Below 29990 then you should Sell with 1st Target of 29775 during the day or any point during the week by Trailing the Stop Loss from 30250- 30110- 30025- 29890- 29750- 29675
Conclusion:
Q4 earnings, Lok Sabha elections, and crude oil prices will make the market volatile for the next week. Traders are advised to track above points closely to trade in Sensex, Nifty and Bank Nifty in the highly volatile markets.
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Finogyan Team
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