- Market ended the last trading session of financial year 2017-18 on a weak note at 10151.95.
- Lupin has announced that it has launched Carbidopa 25mg in the US market.
- The IPO of ICICI Securities, the subsidiary of ICICI Bank, has been subscribed 78% so far on final day.
- Bharat Financial Inclusion Limited assigned two pools of receivables of an aggregative value of Rs 1391 crore.
- M&M announced a setting up of a Joint Venture with Sri Lankan company.
- Ashok Leyland declared that that it would be hike the prices across its entire vehicle range effective April 1.
- IDBI Bank raised Rs 7,881crore via capital infusion from the government.
- Reliance Industries Limited to sell select Eagle Ford shale assets in U.S. for $100 million
- Fortis Healthcare has announced that it will demerge its hospitals business into TPG backed Manipal Hospitals.
Weekly Market View
Nifty had a bullish week on charts after four weeks of fall and formed bullish piercing line on weekly chart. Nifty remained higher in short weeks trading and settled at 10151.90.Nifty 50 looks bullish ahead too and if closes above the 10265 resistance level then further buying may be seen in index to test the resistance level of 10500. However there is a good support level of 10000 below which market may slip to test the level of 9830 support level.
Weekly Nifty Bank View
Nifty Bank too surged higher in last week’s trading and settled higher breaking the four weeks losing streak to close at 24339.30.Banking stocks consolidated in last two days and remained on bullish line. The banking index looks moderately bullish on charts and may consolidate ahead. For coming week’s trading the level of 24000 is seen as good support to hold on and 24675 is resistance to cross.
Global Markets Update
Global Markets Update
World markets surged as the geopolitical activity improves after North Korea’s chief visit to china and signals to curtail the nuclear program.US S&P 500 ended forming bullish harami on weekly chart at 2640.87.The German index DAX too had a bullish week and closed forming bullish hammer candle formation on chart at 12096.73.The Asian peers also joined the rally forming bullish piercing line to close at 21454.30.The shanghai composite settled at 3168.90.
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