Markets for the week ended on a positive note with the Nifty gaining by 1.5% while the broader market struggled. There has been a clear diversion taking place from the Nifty 500 Index to the Nifty 50 index and that is why the spread of the Nifty 50 and Nifty 500 Index ended with gains of +50pts on the Friday session.
With the formation of a bullish flag pattern in the spread of Nifty50-Nifty500, Nifty 50 is positioned for a rally of +2000 pts, which may take everyone by surprise. Overall view for the market remains buoyant with the expectation of 17500 in the coming week.
Meanwhile, RBI Monetary Policy Committee meeting starts on June 6; the decision to be announced on June 8
Stocks are poised to start the week under pressure after a robust US jobs report left the door open for the Federal Reserve to maintain an assertive stance on inflation.
Shares in Asia-Pacific slipped in Monday morning trade, ahead of the release of a private survey on China’s service sector activity for May.
Nifty 50 Index & Spread of Nifty 50-Nifty 500 Index(3 Day closing)
Stocks to watch
Positive Read Through
- Bharat Forge is no longer just a forging or auto component manufacturing company, but a technology company, says Kalyani.
- Defense stocks- Defence Minister to be on a three-day visit to Vietnam to further strengthen defense cooperation
- Sugar stocks- India achieves 10% ethanol blending target ahead of schedule
- Tata Power Tata Power Launches Smart Home Automation Energy Solutions
- NTPC – NTPC, Mecon Accord for Consultancy, Project Management Service
- Adani Transmission To Buy Essar Mahan-Sipat Project for $247M EV
- Ind-Swift Launches Cardio, Diabetic, Antibiotic Drugs in Qatar
- Poonawalla Fincorp -SEBI revokes orders against Poonawalla Fincorp MD Abhay Bhutada
Negative Read Through
- Lupin- Avion, Balchem Unit Sue Lupin to Block Birth-Control Pill Copies
- Gayatri Projects Defaults on principal, interest payment on the loan
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