Infosys worsen the mood of bulls and drag nifty up to 5494 level in Friday's session and till day end nifty manage to closed at 5528 level. Infosys dropped -22.07% in a single day due to worse guidance and closed at 2273. But Bank nifty and Sbin both ignored infosys and jumped higher in falling market.
NIFTY HOURLY CHART
BANK NIFTY DAILY CHART
Nifty trading in ending diagonal pattern and, until unless nifty give breakout either side will give heart beating move in market. Leave nifty further and index trader trade in bank nifty to avoid high volatility in nifty. Nifty 5500 call added 7.5 lakh fresh contracts in open interest and 5500 put decreased 6.4 lakhs contracts from open interest indicating fear concept around 5500 level in market.
The market will remain sideways and volatile for the coming week
also, which will be a truncated one due to a holiday on Friday (19 April) for
Ram Navami. Global factors will give an impact on the market, but investor’s
eyes would be at developments on the domestic front. Reliance Industries quarterly result is on 16 April (Tuesday). A
day later, IT major TCS will give
quarterly report. TCS' results will be keenly eyed, particularly after Infosys result.
HDFC Bank, Axis Bank, ICICI Bank, Cairn India, Ultra tech Cement and Maruti suzuki
will give their quarterly results in next 15 days. And it will give a cautious approach
in market. On the economic front, the inflation data is due for release on
Monday. The government will announce the inflation figure for March 2012 on 15
April (Monday). An unexpected drop in retail sales in March and a decline in
consumer sentiment dragged down stock prices on Wall Street on Friday and the mood
on the Indian market will largely be impacted by quarterly results.
NIFTY DAILY CHART
NIFTY WEEKLY CHART
NIFTY HOURLY CHART
BANK NIFTY DAILY CHART
