DSIJ Mindshare

In the coming session, the 100-DMA, which stands at 11,135, is likely to be a crucial support level and the next crucial support stands at 11,036, which is 200-DMA for the Nifty. Going ahead, a move above the 11,300 level is required to turn the bias positive. Stock in news: Tata Chemicals.

After a sharp sell-off in the last hour of trading on Wednesday, Indian indices hope for a recovery at the start of the session on Thursday, following positive close on the Wall Street overnight. At the time of writing, the SGX Nifty was trading higher by 25 points at 11,187 level. Market participants will eye quarterly results of Bajaj Finance, Bajaj Finserv, Hindalco and Praj Industries.

Indian broad market indices, which opened on flat note and traded in the positive terrain till the afternoon session, witnessed sell-off in the last leg of trading and entered into the negative terrain and ended on a negative note.

The stocks that are likely to witness significant movement on the bourses on May 16 are Yes Bank, Bharti Airtel, Dr. Reddy’s Laboratory, Amara Raja Batteries and JK Tyre

The company received orders worth Rs 3,635 crore during the quarter, which is 24.3 per cent higher than the quarter ended on March 2018. The company said that its order backlog is at a six-year high.