SGX Nifty Indicates Higher Opening; Nilkamal and APL Apollo Tubes to Report Results Today

At 8:00 am IST, SGX Nifty Futures was trading at 15,716, compared with Nifty’s close of 15,576 yesterday. rnMarket Pulse: Confirmed Uptrendrn rnDistribution Day Count: Threern rnGlobal stock markets: Dow30, +0.1; S&P 500, +0.1%; Nasdaq, +0.1%; Kospi, +0.8%; Nikkei, +0.3%; Shanghai Composite, -0.02% rnNifty started the session on a weaker note yesterday and continued to move lower. However, in the last couple of hours, it advanced more than 100 points from the day’s low and closed flat. Yesterday, volume was on the lower side. Broader market indices outperformed the major index. Nifty Midcap and Smallcap gained more than 1%. On the sectoral front, Nifty Auto (+1.9%), Metal (+2.1%), and PSU Banks (+3%) were the top gainers. On the flip side, Nifty FMCG, IT, and Financial Services closed 0.2–0.7% lower. rnLast week, Nifty hit an all-time high and is currently trading 3.8% and 5.3% 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: Cupid, Apl Apollo Tubes, Nilkamal Nse , and others. rnKey News: rnMtar Technologies reported its Q4 FY21 results. Revenue was up 12% y/y to Rs 616 crore. PAT surged 104% y/y to Rs 88 crore. EBITDA grew 107% y/y to Rs 145 crore. rnWipro signed a partnership deal with Finastra Partner to accelerate digital transformation in transaction banking. rnRatnamani Metals & Tubes received a domestic order worth Rs 81.79 crore for carbon steel pipes from the oil and gas sector.rnBuy Watchlist: Avanti feeds , Bajaj Finance , Sbi Cards And Payment Services , 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 Sell Watchlist : Advanced Enzyme Techs Recent Articles : Garware Technical: A Long Term Leader of Apparel Cloth Mfg. Forming Higher Highs For more details please visit: SGX Nifty Indicates Higher Opening; Nilkamal and APL Apollo Tubes to Report Results Today Stock Market ResearchMarket Smith IndiaWilliam O’Neil India