Weekly market updates: Technical analysis, latest share market news and key factors to impact the market

 

Weekly market updates: Technical analysis and latest share market news: Indian share market closed in negative in the last week. The Nifty50 has declined by 112.35 points or 1.21% on a weekly basis while Sensex was down by 261.50 points or 0.83%. The share market was volatile in a tight range, Nifty50 was trading at a range of 9000 to 9350 in the last week.

The Bank Nifty was highly volatile last week it was down 1094.8 points or 5.32% on a weekly basis. The Nifty midcap and smallcap100 index also decline last week. The midcap index fell 351.1 points or 2.70% whereas the Nifty smallcap 100 index was down by 131.55 points or 3.21% during the week.

 

Top Nifty50 Gainers and losers

 

Weekly Nifty50 Gainers
Company Name	LTP	Previous Close	Change (%)
Reliance	1417	1224	15.77
Britannia	3062.15	2832.15	8.12
Sun Pharma	485.55	457.1	6.22
Infosys	658	628.75	4.65
Kotak Mahindra	1239.55	1186.25	4.49
Weekly Nifty50 Losers
Company Name	LTP	Previous Close	Change (%)
IndusInd Bank	382.9	474.45	19.3
Hindalco	103.65	124.15	16.51
Axis Bank	403.95	478.8	15.63
Bajaj Finance	1976.25	2308.15	14.38
JSW Steel	153.25	177.3	13.56

 

Nifty midcap & smallcap gainers and losers

 

Weekly Nifty Midcap 100 Gainers
Company Name	LTP	Previous Close	Change (%)
Future retail	102.20	80.45	27.04
Future Consumer	9.30	7.40	25.68
Weekly Nifty Midcap 100 Losers
Company Name	LTP	Previous Close	Change (%)
Nippon Life India	216.4	294.6	26.54
Cholamandalam Inv &Fin	132.9	176.6	24.75
Weekly Nifty Smallcap 100 Gainers
Company Name	LTP	Previous Close	Change (%)
Future Life style	156	122.35	27.5
Sonata Software	225.5	181.05	24.55
Weekly Nifty Smallcap 100 Losers
Company Name	LTP	Previous Close	Change (%)
Spandana Sphoort	416.2	542.25	23.25
PVR	954.6	1227.2	22.21

 

Latest share market news & updates

The Indian share market got some support from the positive global cues and with the hopes of fiscal stimulus measures that are going to announce next week on 27th April. Traders overlook some negative news in the market, last week Fitch slashed the Indian growth projection as 0.8% in FY2020-21. The Confederation of Indian Industry (CII) reported that India’s GDP likely to range between a decline of 0.9% to a growth of 1.5% in the current financial year.

The news of the closure of Franklin Templeton’s six funds has raised the question of liquidity. Now there are several questions raised, is it a liquidity crunch due to coronavirus pandemic, or it’s a bad investment decision that went wrong? Is it the only six funds of Franklin Templeton or there are more to come. Time will only answer but this will have a major impact on Mutual fund business and maybe indirectly to the equity market

 

Key factors that will influence the Indian share market next week

Coronavirus and Global cues

Last week, most of the global markets closed in the negative as investors are worried over reports that an experimental drug to treat COVID 19 showed inconclusive results. Businesses across the world are seen worst hit due to the lockdown. In the Indian share market, financial sectors are the worst hit whereas pharma sectors have got some buying interest.

India has extended the biggest lockdown in the world to curb the spread of coronavirus. The Indian economy is likely to suffer its worst quarter since the mid-1990s due to the lockdown. The market sentiment at present depends on the news of COVID 19 both on domestic as well as the global front. 

 

FIIs and DIIs data

In the Indian share market, FIIs, and DIIs both are the net sellers in the cash market. So far in April, FIIs sold Rs 6860.81 crores and DIIs sold Rs 3013.30 crores in the cash market. FIIs selling in the month of April is comparatively lower than the March which was Rs 65816.70 crores whereas DIIs were the net buyers.

 

Macro data

There is no major macro data announcement in the coming week, the below are the few data that are going to be released in the next week.

 

Macro Data Next Week
30th April	Infrastructure output
1st May	Foreign Exchange
	Reserve

Q4 Earnings

Infosys had announced Q4 earnings on 20th April, it has reported a decline in profit for the quarter. The Net profit fell 2.9% sequentially to Rs 4335 crore in the quarter ended March.

Company’s revenue rose 0.8% QoQ to Rs 23,267 crores, operating profit fell 2.7% to Rs 4927 crore. Margin has narrowed 70 bps to 21.2%. The stock reacted negatively after the Q4 earnings and later recovered.

Bharti Infratel announced its Q4 earnings on 23rd April, it has posted a 6.89% YoY rise in consolidated net profit at Rs 649.50 crore for the march end quarter. This is compared to Rs 607.60 crores in the last year the same period. The consolidated revenue of the company increased by 0.7% YoY to Rs 3624 crore during the quarter. The share price of Bharti Infratel reacted negatively after the announcement of Q4 earnings.

For the next week below Nifty50 companies are going to announce their Q4 earnings and the share price of these companies and sector will react to their performance.

 

Q4 Earning dates for Nifty50 Stocks
27th April	IndusInd Bank
28th April	Axis Bank
30th April	Tech Mahindra
30th April	Hindustan Unilever

 

Technical analysis of Nifty and Bank Nifty futures

Nifty technical analysis in Futures

Primary Trend of Nifty Futures next week: Bearish

Range-Bound Trend of Nifty Futures: 

All up Moves Initiates Profit Booking (Sale) @ 9350 whereas All Down Moves Initiates Short Covering (Buy) @ 8850

If Nifty futures share price Moves Above 9185 and sustain. Then you should Buy with 1st Target of 9208 during the week with a Stop Loss of 9090 FOR the Target of 9208- 9234- 9274- 9350

If Nifty futures share price Moves Below 9090 and sustain. Then you should Sell with 1st Target of 9056 during the week with a Stop Loss of 9185. FOR the Target of 9056- 9027- 8980- 8850

 

Technical analysis of Bank Nifty share price in Futures

Primary Trend of Bank Nifty future for next week: Bearish

Range-Bound Trend of Bank Nifty Future: 

All up Moves Initiates Profit Booking (Sale) @ 19960, whereas All Down Moves Initiates Short  Covering (Buy) @ 18760

If Bank Nifty share price future Moves Above 19640 and sustain. Then you should Buy with 1st Target of 19830 during the day with a Stop Loss of  19476. FOR the Target of 19830 – 19960- 20170- 20280

If Bank Nifty share price future Moves Below 19476 and sustained. Then you should Sell with 1st Target of 19240 during the day with a Stop Loss of 19640. FOR the Target of 19240 – 19125- 18980-18760

 

Crude oil & rupee

First time in the history of crude oil the prices of West Texas Intermediate (WTI) the American benchmark for crude oil fell to less than zero on April 20, 2020. The price per barrel of WTI crude fell to minus $37.63. 

Whereas the international benchmark Brent crude oil future price has touched weekly low at $15.98 per barrel. Brent crude oil has traditionally quoted higher than WTI, Brent is a superior grade produced in the North Sea off the British coast. At present, the Brent crude oil price in the future is trading at $21.91 per barrel.

Indian rupee appreciated 0.37% on weekly basis, earlier the rupee has touched Rs 77.01 and closed at Rs 76.27 against the US dollar.

 

Conclusions:

The benchmark indices of the Indian share market is looking bearish. Traders can refer our technical analysis of Nifty and Bank Nifty futures and market updates for next week. The key factors that will impact the market next week are mentioned above, crude and global cues will play an important role next week.

Indian share market may remain volatile next week due to the monthly derivative expiry on 30th April. Indian stock market will Holiday on 1st May Friday on account of May-Day. Monday on 27th April we may see a positive trading session on the hopes of a second stimulus package decision. 

Traders should remain cautious and trade with strict stop loss for the next week.

 

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