NIFTY ends flat on Karnataka poll results. The 50-share NSE index NIFTY ended little changed at 1081.85 on Tuesday. The Indian benchmark index NIFTY shed early gains to end largely flat as investors focused majorly on Karnataka election results today. Meanwhile, Indian bonds and the rupee weakened to multi-month lows, as global crude oil prices rose and the local inflation print came in higher than expected.

Looking overseas, European markets trading higher on easing worries over key political and economic risks while Asian markets finished lower on the back of trade war fears on Tuesday.

Among sector gauges compiled by the NSE NIFTY PSU BANK, NIFTY REALTY, NIFTY AUTO, NIFTY MEDIA and NIFTY PHARMA ended as top losers while NIFTY IT and NIFTY METAL ended as top gainers.

From the NIFTY 50 basket of shares, TATAMOTORS, SBIN, COALINDIA, IBULHSGFIN, NTPC, and GAIL underperformed as top losers while TATASTEEL, POWERGRID, BAJFINANCE, TCS, ASIANPAINT, and LUPIN are top gainers.

Top list of stocks to trade today 16 May

COLPAL gained by 3.62% and to close at Rs.1151.5. Trading volume increased by 200 percent on 15 May 2018. Interestingly 70% of the trades are taken for delivery. There is an evidence of bullish breakout. It is regularly climbing for 3 days. This stock is currently settled above the recent resistance zone. We see short-term support around 1087.

TATASTEEL Increase by 2.56% and finished at Rs. 625.95. Trading volume inflated by 176 percent on Tuesday. However numerous trades were intraday trades. It signals positive breakout. It is continuously heading higher levels for 3 days. This stock is currently settled above the recent resistance zone. We see short-term support around 575.

ALBK plunged by 8.61% and to close at Rs.40.35. Trading volume hiked by 224 percent at last trading day. But largely the volumes are settled intraday. It signals bearish breakout. It is regularly grinding lower levels for 4 days. It is trading below its recent support zone. The Near-term resistance is seen around 53.

BEML witnessed Star pattern on daily chart. BEML volume inflated by 807 percent at last session. However numerous trades were intraday trades. The momentum of the bears is evident from the today’s gap. It is trading inside the trading range. The Support is seen around 1008 and resistance is seen around 1145.

BEL plunged by 4.41% and ended at Rs.120.2. Trading volume increased by 280 percent. Furthermore, 56% of the trades are taken for delivery. It suggests for a bearish breakout. It is continuously breaking low for 3 days. It is trading below its recent support zone. The Near-term resistance is seen around 143.

POWERGRID advanced by 2.3% and ended at Rs.213.85. Trading volume rose by 388 percent. Noticeably 83% of the trades are taken for delivery. It gives an impression of a bullish breakout. This stock is currently settled above the recent resistance zone. We see short-term support around 200.

TATAGLOBAL plunged by 5.18% and to close at Rs.242.65. Also, it recorded a remarkable loss on the weekly basis. Trading volume hiked by 139 percent at last session. It Indicates bearish trend. It is trading below its recent support zone. The Near-term resistance is seen around 297.

KTKBANK volume spiked by 199 percent on Tuesday. However, most of the trades are intraday in nature. It Indicates bearish trend. The technical indicator RSI indicates overbought scenario. It is trading below its recent support zone. The Near-term resistance is seen around 126.

TATAMTRDVR plunged by 5.24% and closed at Rs.180.95. Trading volume rose by 117 percent at last session. It signals bearish breakout. It is steadily grinding lower levels for 3 days. It is trading below its recent support zone. The Near-term resistance is seen around 201.

TATAMOTORS plunged by 4.17% and to close at Rs.310.1. It is one among the top traded stocks. It gives an impression of a negative breakout. It is frequently scaling down for 3 days. It is trading below its recent support zone. The Near-term resistance is seen around 352.

LUPIN – Q4 Result Insights

  • Consolidated revenue for the quarter fell 5.2% to Rs 4,033.80 crore from Rs 4253 crore reported for the same quarter last year.

  • EBITA for Q4 rose 3.3% to Rs 853.60 crore from Rs 826.70 crore in the year-ago quarter.

  • Lupin’s North America sales fell 21.1% to Rs 1,499 crore in Q4 on YoY basis 

  • The company’s board has recommended a dividend of Rs 5 per equity share of the face value of Rs 2 each for the year ended March 31, 2018. 

  • Consolidated net loss of Rs 777.60 crore for March quarter.

  • Earnings per share remained negative at Rs (17.33) when compared to Rs 8.42 in March quarter last year.

Viewpoint: As the pharmaceutical companies are facing a huge headwind from USFDA their net profits are hugely affected in a negative way. America being one of the important market for Indian pharmaceutical companies, is seeing a degrowth in this industry.