Avanti Feeds has fallen more than 39 per cent in May, witnessed deep fall after posting Q4 results on May 26. We hold 1,440-1,420 as the support. In case it bounces back as the oscillators are lying in the oversold zone, we hold 1,640-1,700 followed by 1,755 as the resistance.

Nifty Auto index traded against the market and was up 0.84 per cent at 14:35 hours on Friday. Going forward, above 11,075-11,150, we hold 11,205 followed by 11,335 as the resistance levels. On the downside, 10,960 followed by 10,840 will act as the support for Nifty Auto index.

Indian stock markets retreated after three consecutive upticks on Tuesday, all thanks to the PSU banks. Nifty PSU Bank index plunged more than 3 per cent after six straight upbeats, dragging the entire market downwards. A pullback after a breakout or a total turnback is just a matter of time.

Brent hit Double Top at 80.50 and has corrected near to 76.4 per cent retracement. If the prices bounce back, we hold 76.80-77.80 as immediate resistances, followed by 78.20. Above 80.50, we can talk of 88 levels. In case the prices continue to correct, we may see 72.38-70.80 followed by 66.90 as supports.

The research houses upgraded Sun Pharma’s rating after its Q4FY18 results. It urged more than 7 per cent in Monday’s trade, uplifting the Nifty Pharma Index by 2.4 per cent. The stock bounced back from 435 level up to 61.8 per cent retracement of the downward rally from 539 levels.

Mid-cap index is off its provisional low level and has bounced back from its major support at 15,565. After consolidating for three daily sessions at the low levels, Mid-cap index has surged for two consecutive days, hitting near 38.2 per cent retracement of the prior downward rally in May 2018.

Despite positive Q4 earnings report on Friday after market hours, Ashok Leyland, the commercial vehicle giant, drowned more than 9 per cent and closed 9.5 per cent down. Now the stock has just taken resistance turned support at 133.50 levels.

Benchmark indices witnessed 5 consecutive downfalls and most of the sectoral indices have followed. Meanwhile, IT index has remained sideways, consolidating for the last 11 days. IT major, TCS has hit a new all-time high after consolidating for 3 weeks.

PSU Banking index was off its multiple support zone at the start of May 2018. The same bounce was misconceived as bottom fishing for the PSU Banking sector. It was just a short covering after major PSU Banks had badly fallen post Q4 results.

It was a roller-coaster day for the Indian stock markets in the lieu of the Karnataka assembly election results. Expecting a win for BJP, the Indian benchmark indices witnessed a dynamic impulse, however retreated from their psychological levels of 10950 and 36000 for Nifty and Sensex respectively, to close flat.