India’s GDP Declines 7.3% in FY21; ITC and Radico Khaitan to Report Results Today

rnAt 8:00 am IST, SGX Nifty Futures was trading at 15,623, compared with Nifty’s close of 15,583 yesterday. rnMarket Pulse: Confirmed UptrendrnDistribution Day Count: Threern rnGlobal stock markets: Dow30, +0.2; S&P 500, +0.0%; Nasdaq, +0.1%; Kospi, +0.5%; Nikkei, -0.5%; Shanghai Composite, -0.8% rnYesterday, Nifty turned negative after a flat opening and stayed lower for the first 30 minutes of the session. It then turned positive and the up move continued throughout the session. It closed the session near the day’s high. Nifty closed in the green for the seventh consecutive session. However, yesterday’s volume was on the lower side. On the sectoral front, mixed reactions were observed. Nifty Metal (+2.1%) and Realty (+1.4%) were the top gainers. On the flip side, Nifty Media (-1.4%) and PSU Bank (-0.7%) were the top decliners. Advance-Decline ratio was in favor of advancers, as out of 2,306 traded stocks, 1,094 stocks advanced, 882 declined, and remaining closed flat. rnLast week, Nifty hit an all-time high and is currently trading 4.1% and 5.5% above its 21- and 50-DMA, respectively. We would like the index to hold its 21-DMA and/or 50-DMA and trade above that. Without trying to predict and decode stories, we will take what the market gives and continue to monitor unfolding conditions. If the index falls further, adds a distribution day, and breaches its key moving averages, we may change the market status to an Uptrend Under Pressure. Focus on quality ideas emerging out of sound bases with RS line at or near new highs while reducing exposure to stocks breaking below key support levels. rnKey Results Today: Itc , Radico Khaitan (Nse), Balrampur Chini Mls (Nse), and others. rnKey News:rnHnywell Atmtn Ida (Nse) reported its Q4 FY21 results. Revenue was down 4.5% y/y to Rs 672.7 crore. PAT moderated 6.3% y/y to Rs 104 crore. rnRupa reported its Q4 FY21 results. Revenue was up 53.2% y/y to Rs 454 crore. The company reported a profit of Rs 65.9 crore as against a loss of Rs 4.3 crore for the same period last year. rnNarayana Hrudayalaya reported its Q4 FY21 results. Revenue was up 12.8% y/y to Rs 838 crore. PAT advanced about 5.5x y/y to Rs 68.1 crore. rnIndia’s GDP declined 7.3% in FY21. However, it grew 1.6% in Q4 FY21.rnBuy Watchlist: Ion Exchange India, Page Industries , Action Construction Equ., State Bank Of India, Ambuja Cements, Eveready Inds.(India), Varun Beverages, Colgate-Palmolive India, Sharda Cropchem, Astral, I G Petrochemicals, Berger Paints India, Icici Bank, Ramkrishna Forgings, Gujarat State Petronet, Apollo Hosps.Enterprise, and Apollo Tricoat Tubes Recent Articles: Is Berger Paints A Long Term Leader A Good Buy Now ?? rnGarware Technical: A Long Term Leader of Apparel Cloth Mfg. Forming Higher Highs For more details please visit: India’s GDP Declines 7.3% in FY21; ITC and Radico Khaitan to Report Results Today Stock Market Research Market Smith India William O’Neil India