Stock Market On Monday: Brace Up For A Volatile Week Ahead, Warn Experts
The last trading week closed on a dramatic note. So what is in store for the new trading week? Read what the experts say
Last week, the trading session closed on a red mark after a lot of drama all through the week. The NSE Nifty was down 10.55 points and closed at 22,957.10, while the BSE Sensex was down 7.65 points and closed at 75,410.39. According to experts, several reasons contribute to the volatility for this week, so keep a close watch.
Bullish Momentum In These Stocks
The momentum indicator MACD has been hinting bullish movement in some stocks. These include Vodafone Idea, Jaiprakash Power Ventures, Jaiprakash Associates and Rashtriya Chemicals and Fertilizers.
Vodafone Idea is trading at Rs 15.10, following a jump of 7.47 per cent. Jaiprakash Power Ventures saw a gain of 4.80 per cent, trading at Rs 20.75.
Jaiprakash Associates has been showing a bullish momentum and gained 4.53 per cent, currently available at Rs 16.15. In the last one year, it has given 130.71 per cent returns. Rashtriya Chemicals and Fertilizers is up by 6.64 per cent and is trading at Rs 157.50.
Top Gainers That Closed On A High Note
Here are some of the top gainers of the last trading session that closed on a high note. These included Som Distilleries And Breweries, Finolex Cables, Welspun Enterprises and Power Finance Corporation.
Som Distilleries And Breweries saw a gain of 178.33 per cent and is trading at Rs 141. In the last five days, it has given 15.97 per cent returns. Finolex Cables was up by 12.21 per cent, available at Rs 1,283.75. In the last five days, it has gained 22.34 per cent.
Welspun Enterprises gained 8.53 per cent, trading at Rs 427. In the last one month, it has jumped 17.36 per cent. Power Finance Corporation jumped 5.41 per cent and is trading at Rs 492.55. The 52-week high for this stock is Rs 499.40.
Gold And Silver Prices For The Day
22k gold is priced at Rs 68,290 per 10 grams
24k gold is priced at Rs 74,500 per 10 grams
Silver is priced at Rs 95,900 per kilogram.
Market Experts' Insights
Prashanth Tapse, Senior VP (Research), Mehta Equities
Nifty traders should gear up for a week of potential volatility driven by six big catalysts: Exit Poll (June 1st), May F&O expiry (May 30th), US GDP (May 30th), India’s GDP (May 31st), US PCE Inflation (May 31st), and May Auto Sales (June 1st). Despite Wall Street being closed on Monday for Memorial Day, confidence remains high among Nifty buyers, bolstered by investor optimism about the general elections and a drop in oil prices to $77 a barrel. Also, Vodafone Idea’s ₹18,000-crore FPO anchor lock-in period expires on May 27th. Bullish outlooks are noted for stocks like Maruti, GAIL, and Reliance Industries on corrective declines. Recommended stock: GAIL (CMP 205) with targets at 215/221 and aggressive targets at 243. Preferred trades: Nifty (22957) - buy on dips between 22800-22850 with targets at 23100/23351 and aggressive targets at 23500-23750; Bank Nifty (48972) - buy at CMP with targets at 49300/50000 and aggressive targets at 50500-51000.
(All views expressed by experts are personal. Investments are subject to market risks and this article suggests you to invest wisely)
