Weekly stock market update

NIFTY ends the Fiscal year 2017-18 with 10% gains, now it’s time for a break. The 50-share NSE index NIFTY fell 0.69% to finish at 10113.70 on Wednesday. The Indian benchmark index NSE NIFTY slumped 3.95% in January-March quarter to post their first quarterly loss since December 2016, as it retreated from record high strike of 11,171 mark on January 29. The major trigger which banged Indian Benchmarks this fiscal year was fraud worth Rs 12,000 crore surfaced at India’s second largest public sector lender Punjab National Bank. During the Fiscal year 2017-2018, Nifty closed with gains of 10.25% while the gains in the previous fiscal year were 18.55%. Session marking the last day of trade in the fiscal year 2017-2018, as markets will remain closed on Thursday and Friday on account of ‘Mahavir Jayanti’ and ‘Good Friday’ respectively, Now investors will now be looking ahead as to what Fiscal year 2018-2019 will deliver in terms of market-moving events and key trends.

Looking overseas, European markets trading lower in line with Asian markets which lower on Wednesday. The Worldwide equity markets were knocked hard today on persistent concerns over a regulatory crackdown on Technology companies, which was a key driver behind a rally to record highs now halted a global recovery driven by hopes on easing fears of a trade war.

All sector gauges compiled by the NSE ended lower led by NIFTY METAL, NIFTY METAL, NIFTY PSU BANK, NIFTY MEDIA, NIFTY PHARMA and NIFTY REALTY as top losers.

From the NIFTY 50 basket of shares, BHARTIARTL, TATASTEEL, VEDL, ADANIPORTS, RELIANCE and SBIN underperformed as top losers while WIPRO, BOSCHLTD, GAIL, TECHM and HEROMOTOCO are top gainers.

Stock trading plan for April 2

WIPRO: This stock surged by 2.59% and to close at Rs.281.15 on Wednesday. This stock did rise in the last trading session but fell by a significant margin on a weekly basis. This stock is trading around the lower range of its price band and the crucial support zone is around Rs.279.

IDEA: This stock plunged by 5.83% and finished at Rs. 75.9 on Wednesday. This stock is trading below its recent support zone and the near term resistance is seen around Rs.85.

PAGEIND: This stock climbed by 1.79% and ended at Rs.22684.55 on Wednesday. This stock is currently settled above the recent resistance zone as it is steadily climbing for 3 days and the short term support is around Rs.20198.

AMBUJACEM: This stock volume increased by 4 times with 66% of the trades is a deliverable volume on Wednesday. This stock is currently trading around the lower range of its price band and the crucial support zone is around Rs.226.

TITAN: This stock volume increased by 4 times with 56% of the trades is a deliverable volume on Wednesday. This stock is currently settled above the recent resistance zone and the short term support is around Rs.803.

HEROMOTOCO: This stock advanced by 2.25% and to close at Rs.3542.8 on Wednesday. This stock trading volume inflated 156% with numerous intraday trades. This stock is trading inside the trading range and the support is seen around Rs.3411 and resistance is seen around Rs.3698.

BOSCHLTD: This stock climbed by 1.86% and to close at Rs.18017.55 on Wednesday. This stock trading volume inflated 156% with nu74% of the trades are deliverable volume. This stock is trading inside the trading range and the support is seen around Rs.17229 and resistance is seen around Rs.18836.

 COLPAL: This stock volume increased by 163% with 80% of the trades is a deliverable volume on Wednesday. This stock is steadily advancing for 3 days and it is oscillating nearer to its resistance zone of Rs.1060.

IDFCBANK: This stock is one of the top traded stocks with numerous intraday trades on Wednesday. This stock is trading below its recent support zone and the near term resistance is seen around Rs.53.