Market Pulse: Rally Attempt
On April 11, the Indian market has shifted to Rally Attempt from Downtrend. Tuesday’s session marked Day One of the attempted rally as the index closed in the green. Since then, Nifty has not breached the correction low of 21,744, making today Day Three of the attempted rally. As a result, the market status has shifted to a Rally Attempt from a Downtrend.
From here, we would prefer to see a follow-through day or Nifty making a new high before upgrading the market to a Confirmed Uptrend. If this occurs, the focus will be on stocks that show the best relative strength with strong accumulation. Stocks that recover the quickest often lead the next run.
On the flip side, if Nifty breaches its recent low of 21,744, the market status will revert to a Downtrend.
Global Market View
The stock markets USA, UK, Canada, Germany, Japan, China, India, Hongkong, Brazil, Mexico, Indonesia and Thailand are in a Rally Attempt, signaling early signs of a potential recovery that require confirmation. On the other hand, Singapore, South Korea, Taiwan and Malaysia are in a Downtrend, reflecting continued market weakness and caution among investors.
Buy Watchlist
Bharti Airtel, Gabriel India, Aavas Financiers, Vadilal Industies, Marico and view more.
Key News & Earnings Updates
Glenmark Pharms. (Nse), Sun Pharm.Industries, and Zydus Lifesciences recall products in the US due to manufacturing issues, as per USFDA's latest report.
Hcl Technologies (Nse) integrates NVIDIA AI Enterprise with AI Force and Omniverse with SmartTwin to boost AI adoption and engineering efficiency.
Nhpc begins commercial operation of 107 MW solar plant in Bikaner, Rajasthan.
Tata Power Renewable Energy signs 200 MW PPA with NTPC, boosting its renewable capacity to 10.9 GW.
Zydus Lifesciences receives USFDA approval to manufacture Jaythari (Deflazacort) tablets for Duchenne Muscular Dystrophy treatment.
What do you think? Please email us any questions or comments.
Disclaimer: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. It is for educational purposes only.