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Index trend and stocks in action May 17, 2019

Karan DSIJ / Article rating: 5.0

Trend traders will keep an eye on two levels, namely, 11,108 and 11,300, and breakout on the either side will result in a trending move. If bulls manage to surpass the resistance level of 11,300, Nifty may scale higher towards the levels of 11,370-11,400. On the downside, breach of 11,108 would result in a correction towards the level of 11,000. Stocks in news: Trigyn Technologies, InterGlobe Aviation, Bharat Forge, Manappuram Finance, Punjab National Bank.

Market opening hinges on bulls keeping the momentum going

Karan DSIJ / Article rating: 5.0

It would be interesting to see whether or not bulls continue their last session momentum on Friday. Early cues from the SGX Nifty indicates that Nifty may open the session on a lacklustre note as SGX Nifty is trading lower by 17 points at 11,287. Nifty has an immediate hurdle at 11,300 and a breakout above this level would provide the much-needed impetus to the bulls. On the earnings front, Bajaj Auto, CESC, CUB, Dr Reddy’s Laboratories, Engineers India, IOC, Sobha and UPL will report their results today.

Minda Industries: Q4FY19 revenue up by 8 per cent, but profit declines

Pratik Shastri / Article rating: 5.0

Auto component manufacturer Minda Industries reported its results for Q4FY19 and financial year ended March 31, 2019, during market hours on Thursday. The slowdown in auto sector is evident from the numbers on auto ancillary company. The sales growth is muted with just 8 per cent increase for Q4FY19 on a YoY basis.

 

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