Trading view of Nifty and Bank Nifty for the week

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

Nifty Chart 6th may
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
Bank Nifty Chart 6th may
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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Happy Investing!


Finogyan Team


Disclaimer-Finogyan has taken due care and caution in compilation of data for its blog. The views and investment tips expressed by investment experts on Finogyan are their own and not that of the website or its management. Finogyan is not SEBI registered Advisors and advises users to check with certified and SEBI registered experts before taking any investment decision. However, Finogyan does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. Finogyan especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.



Trading view of Nifty and Bank Nifty for the week Trading view of Nifty and Bank Nifty for the week Reviewed by Finogyan on May 05, 2019 Rating: 5

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