NIFTY WEEKLY REPORT FOR UPCOMING WEEK AS ON 2 -MAY 2016

WEEKLY RESISTANCE FOR NIFTY: 7926, 7959, 8011, 8063

PIVOT POINT: 7894

WEEKLY SUPPORT FOR NIFTY :  7842,7757,7725,7641

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WEEKLY CHAT FOR NIFTY

 Sensex opened the week at 25862, made a high of 26089, low of 25431 and closed the week at 25606. Thus it closed the week with a loss of 235 points. At the same time the Nifty opened the week at 7905, made a high of 8000, low of 7831 and closed the week at 7853. Thus the Nifty closed the week with a loss of 60 points.
 

TECHNICALLY SPEAKING.

This is a critical time for the market, as the indices grapple with the long term average of 200dma. Interestingly, Nifty overcame the 200dma and closed above it but Sensex failed to do so. A failure to overcome the 200dma in next week will not spell good news for the Bulls. Besides, the indices are facing a very strong confluence zone between Sensex 26256-26259 and Nifty 7979-8000. Only a close above it will pave the way for further upward move or else expect the downward slide to resume.

Indian Stock Market opened flat for the day. Complete Asian Market fell down sharply after Bank Of Japan’s monetary policy. strong support at 7815-7800-7780-7750 whereas strong resistance would be seen at 7900-7925-7980-8008 levels. Since,

A strong Resistance zone is seen at  Nifty 7972-7979, which is due to the confluence of 50% Retracement Nifty - 7972 and previous intermittent tops Nifty - 7979. Thus for further upward rally to continue, it is necessary for the indices to overcome the above Resistance zone.

IMPORTANT RESULTS NEXT WEEK: HDFC, L&T, TVSMOTOR, CENTURYTEX, JINDALSTEL, SKSMICRO, HEXAWARE, WOCKPHARMA, TITAN, SUNPHARMA, HEROMOTOCO, RELCAPITAL

 

Stock Trading Tips - Today's Top 15 Stocks in Focus Today.

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ICICI Bank: ICICI Bank India’s largest private sector bank, will announce its Q4 numbers today. IIFL estimates that the bank’s net profit is likely to plunge to Rs. 2,315 crore, at a rate of 21% yoy and 23% qoq.


 

Lupin: The company has announced the re-introduction of Methergine (methylergonovine maleate) Oral Tablets 0.2mg for the prevention and management of postpartum hemorrhage (PPH).



Berger Paints India Ltd: Berger Paints India Ltd and Nippon Group of Japan have signed formal agreements to “transfer” some of their automotive paints businesses in India to their existing joint venture



Dabur India: The company’s consolidated revenue stood at Rs. 2,161.30 crore, up 10.85% yoy and 1.61% qoq.

Idea Cellular: The net profit of the company plunged 24.7% to Rs.575.6 crore in Q4 compared with Rs.764.2 crore in Q3.EBITDA margin was at 38.1% vs 34.7% qoq, whereas EBITDA surged 15.6% to Rs.3,616 crore vs Rs.3,128 crore qoq.




Ambuja Cements: The company reported 4.4% decline in net profit at Rs.304 crore for the quarter ended March 31, compared with Rs.318 crore in the same period last year.



Tata Elxsi: The company’s standalone revenue stood at Rs. 293.95 crore, up 7.25% qoq and 27.1% yoy.



ACC: ACC, country's largest cement and concrete maker, reported consolidated net profit of Rs. 226.95 crore for the quarter ended March 31, 2016, registering decline of 4.05% yoy but growth of 121.65% qoq.



Tata Power: Tata Power announced the successful commissioning of its 44 MW Lahori wind farm project, located in Shajapur district of Madhya Pradesh.



HCC: Hindustan Construction Company Ltd posted a net profit of Rs. 191.40 mn for the quarter ended March 31, 2016 as compared to Rs. 206.50 million for the quarter ended March 31, 2015.



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