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“In the case of a failure, traders should brace themselves for a volatile week. Meanwhile, they should opt for a stock-specific trading approach and prefer auto, banking mainly private, financials, and FMCG pack for identifying long trades. On the other hand, energy, metals and PSU banks may continue to trade subdued.”

As we are keeping our view consolidation hence we advise traders to go for a short straddle option strategy. It is a 2-leg option strategy and consists of selling ATM strikes of Calland Put options.

The power ministry has sent letters informing states about the decision and has asked them to wait for price discovery by Coal India. The coal will be imported on behalf of power plants, may of which earlier complained that tendering and coal imports was not their core expertise.

Profit estimates of global exporters like Singapore-listed Wilmar International Ltd. and Hong Kong’s WH Group Ltd. are on the rise while popular donut chain Krispy Kreme Inc. may take a hit from rising wheat prices.

“Wherever there is confidence that the business model is robust and wherever we get the comfort that these managements are sticking to what they have been talking about and what they have been doing, then we will add. So amongst these stocks we actually have buys both on Zomato which we recently upgraded and Nykaa.”

A formal ceremony for the MoU signing is being planned for May 30, wherein representatives of both companies will be present.

“We will get these sorts of rallies but largely speaking, at least over the next couple of months, we will probably be here. We do not see things really moving out of this range significantly. The good part is it seems to us that 15,800 seems to be holding well for the market at the present moment.”

“I would prefer largecap stocks this year. The Inflation commentary and margin pressures that we have seen in a lot of companies in Q4 is indicating that largecaps should be better off to play this year for the next couple of quarters till things settle...Temporarily, I think we have made the bottom at 15,800 or so.”

“The company doesn’t have a listed peer, but the valuation demanded is too rich despite the prospects being good and the current volatile market is not conducive for primary issues with such rich valuations,” said Aayush Agrawal, Senior Analyst, Swastika Investmart.

"Inter-market relationship is in a mess currently, which is taking a toll in the commodities space. The US dollar index has retreated off its peak, yet the structure is bullish, a pullback is seen in commodity currency (i.e. Australian Dollar Futures, yet the overall structure is bearish. If these situations persist, there appears to be no point in calling a bottom in metals space."