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Nifty pullback can extend till 14,700: Vinay Rajani of HDFC Securities


Nifty outlook
On April 13, 2021, Nifty formed inside bar or bullish “Harami” candlestick pattern on the daily chart, where the open and close remained within the range of the previous trading session .The implication of this pattern turns bullish when next session’s opening remains in green. On the upside, Nifty has got strong resistance in the zone of 14,652-14,785, which happens to be the unfilled gap formed on April 12, 2021. Longs should be protected with the stoploss of 14,275 in Nifty.
Recommendations
Buy HEROMOTOCORP (Rs 2,868): | Target: Rs 3,090 | Stop-loss: Rs 2,800
The stock has formed bullish “harami” candle stick pattern on the daily chart. Daily RSI has also exited from the oversold zone, which indicates the chances of sharp pullback in the counter. This week, the stock price formed bullish “double bottom” formation at 2,740 odd levels and reversed the trend toward north. ....

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Sensex, Nifty slide as Joe Biden's $2-trillion relief plan sparks worries


The dollar rose, while oil prices came off their 10-month highs as investors mounted risk-off bets.
The Sensex fell 550 points, or 1.1 per cent to end at 49,035, while the Nifty declined 162 points, or 1.1 per cent to close at 14,434. This was the biggest single-day decline for both indices since December 21. The Sensex had managed to post its 11th straight weekly gain.
However, Friday’s correction pruned weekly gains to 1.4 per cent. The India VIX index soared 4.3 per cent to 24, sparking concerns that the market could have got overheated. Mid- and small-cap indices fell in line with the benchmark indices.
Most global equities fell, while the US futures market pointed to a lower opening on Wall Street during India’s market hours. ....

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Sensex closes in on 50,000 milestone, Nifty ends at 14,484; IT stocks gain


Stocks on Monday cheered the scheduled roll-out of Covid-19 vaccines in the country by the end of this week and the strong start to the quarterly earnings season. The benchmark Sensex crossed the 49,000 mark for the first time, and is now within striking distance of the 50,000 milestone.
The Sensex rose 487 points, or 1 per cent, to end the session at 49,269, while the Nifty closed at 14,484, a gain of 137 points, or 0.9 per cent. IT stocks were the top gainers and contributed the most towards the Sensex s gains.
Indian stocks continue to be the beneficiaries of benign foreign portfolio investor (FPI) flows amid signs of recovery in the economy. FPIs bought stocks worth Rs 3,139 crore on Monday. Domestic institutional investors, on the other hand, sold shares worth Rs 2,610 crore. ....

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