Nifty snaps two weeks of winning streak; Bank Nifty hits fresh high.
Infosys missed analyst expectations as Q4 profit dips 2.8 percent at Rs 3603 crore.
Indian Oil joins Rs 2-lakh crore m-cap club; stock hits fresh high.
JSW Steel shares decline as company has raised $500 million through an issue of fixed rated senior unsecured notes.
Essar Shipping gains as reports strong operational performance.
Heritage Foods gains as company has completed acquisition of dairy business of Reliance Retail.
Reliance Communications dips after Deutsche Bank has downgraded the company’s shares to ‘Sell’ from ‘Hold’.
Berger Paints India and Chugoku Marine Paints of Japan have entered into a Memorandum of Understanding.
HDFC Bank announced that board meeting on April 21 to raise Rs 50,000 crore by issuing perpetual debt instruments.
Weekly Market View:
Nifty traded lower after making new life time high on charts witnessing profit booking amid weak global cues and disappointing macroeconomic data as IIP declined by 1% in February and retail inflation rose marginally to 3.81%.Nifty ended the week to close at 9182.25.It looks bullish on close above the level of 9295 on daily chart for the buying target of 9380 however it closes below the support level of 9100 and may witness selling pressure up to the next support of 9000.nifty may remain volatile in the coming corporate earning session.
Weekly Nifty Bank View:
Nifty Bank traded bullish and remained in buy mode for most of the trading session of the week scoring new 52 week high of 21813.05 on charts and witnessed some profit booking after. Nifty bank ennead the week to close at 21733 forming bullish engulfing pattern formation on weekly chart.It looks bullish on close above the level of 21813 for the next buying target of 22200.
Global Markets Update:
World Markets traded lower in the last week of trading as geopolitical concerns grew after the United States launched MOAB on Islamic State tunnel target in Afghanistan. This only added to the geopolitical jitters that have kept stocks in check this week. DJIA closed at its session low, down 138.6 points at 20,453.25.German index DAX also gave week’s closing lower at 12109 with Nikkei and Shanghai composite closing the session in red at 18426.84 and 3261.64 respectively.
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