Stocks To Watch: Axis Bank, Dilip Buildcon, Mahindra & Mahindra, SJVN, Indian Overseas Bank

Stocks To Watch: Adani Enterprises, Reliance Industries, Kotak Mahindra Bank, Zomato, Anupam Rasayan

Will Nifty top 18,800 or fall in trade? See SGX Nifty, FII data, US Fed verdict, more before market opens

Where is share market headed after Nifty closes above 18750, Bank Nifty below 43990; check support, resistance

Pepsico bottler Varun Beverages share worth jumped 6.89% to Rs 862.90 as we speak after the inventory turned ex-date for inventory break up. The inventory with a face worth of Rs 10 has been break up into two shares of Rs 5 every. The inventory has jumped over 110% within the final one yr and almost 7% within the final one month. Meanwhile, within the March quarter, firm’s web revenue rose 69% on-year to Rs 429 crore and income for the quarter was up 38% on-year to Rs 3,893 crore.

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Nifty Pharma jumped 138.05 factors or 1.06% to 13,114.85. The high gainers on the index have been Divis Lab, Zydus Life, Lupin, Laurus Labs and Dr Reddy’s Laboratories whereas the losers have been GlaxoSmithKline Pharmaceuticals, Granules India, Sanofi India, Alkem Laboratories and Sun Pharma.

“Expect consolidation in the 18740 vicinity with eyes on 18887-19000-19070, but a vertical upside is less expected. While downside attempts are likely to be curbed at 18708 initially, it might give away, should it be attacked in the second half, exposing 18600,” stated Anand James, Chief Market Strategist at Geojit Financial Services.

Dilip Buildcon share worth jumped 4.91% to Rs 237.25 after the corporate introduced that its subsidiary DBL Chandikhole Bhadrak Highways accomplished the challenge “Rehabilitation and Up-gradation to Six-Laning of Chandikhole-Bhadrak. The firm has acquired the letter of Completion Certificate from the authority for the challenge value Rs 1,522 crore.

Indian Overseas Bank shares fell 0.54% to Rs 24.38 after the lender’s Asset Liability Management Committee reviewed the bottom price workings, following which they determined to extend the bottom price by 20 bps to 9.10% from the present 8.90%. This new price will come into impact from 15 June.

SJVN share worth rose 1.71% to Rs 39.10 after the corporate signed a memorandum of understanding (MoU) with the Maharashtra State Power Generation Company for the event of 5,000 MW of renewable power tasks within the state.

Bank Nifty fell 95.05 factors or 0.22% to 43,892.95. The high losers have been IndusInd Bank, Bandhan Bank, AU Bank, IDFC First Bank and Bank of Baroda whereas the only loser was Axis Bank.

The NSE Nifty 50 dipped 18.15 factors or 0.10% to 18,737.75 and BSE Sensex fell 116.52 factors or 0.18% to 63,111.99.

“Indian market is likely to open on the lower side as SGX suggests a 30-point decline. Benchmark indices are on the cusp of reaching an all-time high, aided by overall sectors. We anticipate that Pharma and Commodities related stock would perform better for today’s session. The Indian market is anticipated to trade with large swings due to weekly expiry,” stated Om Mehra, Equity Research Analyst at Choice Broking.

Bank Nifty intraday outlook is bearish if it breaks 43875. Support seen at 44017 and 43908 and resistance at 44272 and 44418, in accordance with Rahul Sharma, JM Financial.

Share Market outlook today

Nifty rangebound motion is anticipated except 18778 or 18690 isn’t taken out. Trail cease loss to 18555 for Longs. Support positioned at 18690-18635 and resistance at 18778-18900, in accordance with Rahul Sharma, JM Financial.

Share Market outlook today

“Nifty saw a jittery start to the day as it gapped up 30 points, pared 64 points immediately in the first half hour and then trended higher during the day as it found modest buying interest from the support near 18,700. The index faces immediate pivotal resistance at 18,777 as we head to the weekly derivative expiry and the index is anticipated to attract further bullish momentum on a decisive close above the mentioned hurdle. Support placed at 18700-18660-18600 and resistance at 18777-18810-18890,” stated Riches Vanara, Technical and Derivatives Analyst, Stoxbox.

“Domestic equity bourses are likely to struggle in early Thursday trades amid weakness in SGX Nifty after US markets closed mixed overnight. Although the Fed left rates unchanged, it has kept the window open for another 50 bps hike in key rates for the year in case inflation remains sticky, which could probably spoil the party for investors who were hoping for a more dovish comment. With uncertainty over policy rates hanging around, the market may remain choppy with strong bouts of intra-day volatility, even as selective buying would continue as an ongoing theme. Technically, the markets may rally only above the all-time high level of 18888, while the make-or-break support for Nifty is seen at the 18553 mark,” stated Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

“Bank Nifty has made a big bearish candlestick on the daily timeframe and is seen to be closing around yesterday’s lows which can be the cause of short-term negativity. Bank Nifty close in the range of 43750-43800 will pull the index towards 43000 in the coming weeks. The resistance is at around 44100-44200 and the support is at around 43900-44000. Till the time Bank Nifty breaks this range it is expected to remain sideways. Technical indicator RSI is at around 54 as is showing strength by sustaining above 50 levels,” stated Mitesh Karwa, Research Analyst at Bonanza Portfolio.

Share Market outlook today

“Bank Nifty consolidation indicates a lack of a clear directional bias in the market. On the downside, the index has a support level of 43700, which has been held during the consolidation phase and can act as a potential floor for prices. On the upside, the index faces resistance around the 44300 level, which has limited the upward movement,” stated Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.

Share Market outlook today

“Bank Nifty has been trading in a narrow range around the 20-day moving average (44000). We expect Bank Nifty to hold on to this support and resume its up move. The short-term target is placed at 44500,” stated Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.

Share Market outlook today

“The short-term formation of the Nifty is on the bullish side but below 18700, we could see a quick intraday correction. For traders, 18775 would be the immediate breakout level to watch out and above the same, the index could rally till 18900-18950. On the other side, below 18700, the selling pressure is likely to accelerate and below the same the index could retest the level of 18600-18575,” stated Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd.

Share Market outlook today

“For the Nifty to sustain its upward trajectory, it must maintain levels above the 18650-18625 zone. This would pave the way for further gains towards the 18825 and 18865 levels. On the downside, support levels can be found at 18600 and 18550. Options data suggests a broader trading range between 18500 and 18900, while the immediate trading range is expected to be between 18600 and 18800,” stated Ameya Ranadive CMT, CFTe, Equity Research Analyst at Choice Broking.

Share Market outlook today

“NSE Nifty 50 is slowly inching higher towards the previous swing high of 18778 which once taken out shall lead to further upside. The hourly and daily momentum indicators are providing divergent signals which are likely to align once we get a decisive move on either side. Overall, the uptrend is intact, and we expect it to reach levels of 18800 in the short term. In terms of levels, 18630 – 186200 shall act as a crucial support zone while 18778 – 18800 shall act as an immediate hurdle zone,” stated Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.

Share Market outlook today

“Nifty remained sideways on Wednesday. However, the trend remains positive as the index closed above the critical near-term moving average. The momentum oscillator RSI is in a bullish crossover. Resistance on the higher end, is placed at 18800-18900. On the lower end, support is seen at 18700-18600,” stated Rupak De, Senior Technical at LKP Securities.

Share Market outlook today

The National Stock Exchange has IEX, India Cements, Delta Corp, BHEL, Manappuram Finance, ZEEL and Indiabulls Housing Finance securities on its F&O ban record for 14 June. According to the NSE, shares are prohibited within the F&O sector after they have exceeded 95% of the market-wide place restrict (MWPL). During the F&O ban interval, no new positions are permitted for F&O contracts in that inventory.

On Wednesday, persevering with their upward momentum for the third day, the home indices NSE Nifty 50 and BSE Sensex recorded positive factors, ending the day in optimistic territory. Nifty 50 rose 0.21% to 18,756 and BSE Sensex gained 85 factors to 63,228.

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The SGX Nifty recorded a lack of 0.05% throughout Thursday’s early buying and selling session, with a price of 18,826 indicating a flat opening for home indices NSE Nifty 50 and BSE Sensex. “The domestic indices rebounded after an initial phase of profit booking, driven by encouraging WPI inflation data and positive global cues, while selling in IT and banking stocks kept a check on gains. The favourable decline in US inflation, driven by lower energy prices, and speculation about a potential pause in the Fed rate hike campaign, brought comfort to global equities. However, the persistence of higher core inflation levels may compel the Fed to maintain its hawkish tone during today’s policy announcement with indication of a prolonged pause,” stated Vinod Nair, Head of Research, Geojit Financial Services.

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