Nifty & Bank Nifty Calls for Today are based
on technical & fundamental analysis
of Indian Equity Market, Economy &
also is influenced by trends of
Asian markets today and
also US market last light.

For Monday 17 May 2021,
Lets first study…..
Today’s Morning Trend at Asian Markets :

Stocks in Asia-Pacific rose Friday morning, following an overnight bounce for stocks stateside.

In Japan, the Nikkei 225 jumped 1.41% in early trade — partially recovering from the more than 2% plunge seen on Thursday. The Topix index gained 1.2%. South Korea’s Kospi advanced 0.78%.

Over in Australia, the S&P/ASX 200 climbed 0.29%.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.15% higher.

In corporate developments, investors will watch Hong Kong-listed shares of Chinese tech giant Alibaba after the firm posted its first operating loss as a public company in its fiscal fourth quarter.

Investors will also continue to monitor the coronavirus situation in India, with more than 4,000 Covid-19 deaths reported for the second straight day on Thursday.

US Markets,last Night

U.S. stocks jumped on Friday led by technology shares and reopening trades, as Wall Street rebounded for a second day from steep losses earlier this week.

The Dow Jones Industrial Average climbed 360.68 points, or nearly 1.1%, to 34,382.13. The S&P 500 gained 1.5% to 4,173.85. The tech-heavy Nasdaq Composite, the relative underperformer for the week, snapped back by 2.3% to 13,429.98.

The major averages experienced a roller-coaster week that saw the blue-chip Dow drop nearly 1,200 points from Monday to Wednesday. The S&P 500 and the Nasdaq fell 4% and 5%, respectively, during that period. The indexes have since rebounded from the steep sell-off, but they still posted modest losses for the week as inflation fears hit sentiment. The Dow and the S&P 500 fell more than 1% each this week, while tech stocks got hit especially hard, pulling the Nasdaq down over 2.3% for the week.

“This week’s decline was a good thing,” said Tony Dwyer, chief market strategist at Canaccord Genuity. “There needs to be a correction into the summer that is meaningful enough to eliminate the extreme intermediate-term overbought condition and excess optimism.”

Tech stocks were the biggest outperformers Friday. Tesla gained more than 3%. Facebook jumped 3.5%, while Alphabet and Microsoft rose more than 2%. Apple, Amazon and Netflix also all climbed over 1%.

Disney shares were bucking the trend. The company, which posted weaker-than-expected revenue and streaming subscribers, closed down 2.6%.

Stocks most exposed to the ongoing recovery jumped again Friday after the Centers for Disease Control and Prevention eased guidelines, saying that in most settings fully vaccinated people don’t need to wear masks indoors or outdoors.

United Airlines and American Airlines both climbed more than 5%. Carnival and Norwegian Cruise Line shares both popped more than 8%, while Royal Caribbean advanced more than 7%.

The market’s volatility this week comes as economic data points to inflation. The Consumer Price Index jumped 4.2% from a year earlier in April, which was the fastest rate since 2008. This has sparked fears that the Federal Reserve could be forced to dial back its accommodative monetary policy.

Projection about  Indian Market :

In spite of strong rise in US markets, due to various factors, Indian market is  showing confused state of mind and no particular scrip / sector is showing  consistent uptrend/downtrend. This is very risky thing for the short term traders and investors. The sensex and Nifty in the new week,  are expected to show high level of volatility . Pharma, non ferrous-metal and PSU stocks are expected to retain fancy. However inherent weakness of the market will bring down the market with profit booking .

Nifty & Bank Nifty Calls  by Mr. Deepak Jasani,
Head of Retail Research, HDFC Securities

Indian benchmark equity indices ended flat after a mildly volatile day on May 14. Nifty opened slightly higher but kept seeing repeated bouts of sell-offs followed by bounces through the day. At close, the Nifty was down 18.70 points or 0.13% at 14677.80.

Volumes on the NSE were higher than recent averages. Among sectors, FMCG was the main gainer, while Metals, Healthcare, Power, Auto, Realty and Oil & Gas were the main losers.

Asian shares rose Friday after Wall Street put the brakes on a three-day losing streak with a broad stock market rally powered by Big Tech companies and banks. Singapore stocks tumbled more than 2% on Friday after the city-state’s imposition of the strictest COVID-19 curbs since last year stoked worries of a potential unravelling of its nascent recovery.

European stocks climbed modestly to finish the week after Wall Street snapped a three-day losing streak on Thursday, having been rocked by inflation concerns in recent sessions. Investors will be watching the European Central Bank’s minutes of its latest policy meeting, to be released later in the day, to get clues on the tapering of its bond purchase scheme. Investors will also be watching U.S. retail sales and industrial production data due later in the day.

After two weeks of gains, the Nifty ended the week 0.98% lower as coronavirus cases continue to surge, triggering concerns that a wider lockdown may be reimposed. Advance decline ratio was again negative suggesting continued profit taking in the broad market. The sell-off seen in The US markets on May 12 has unnerved a lot of investors as the likelihood of inflation/interest rate hike led sell-off across the globe is becoming stronger. However as the Nifty refuses to close at the intra day lows over the past two days, hopes of a short term upmove are still alive. 14506-14851 seems to be the new band for the Nifty for the near term.

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