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“I do not think we are in a bull market. We are probably in a very choppy trading range and I would actually think that the chance of it going down is still higher than up because commodity prices are still very high and inflation is a real thing. Also, we are probably looking at a rate hike cycle in front of us, this is going to last for quite a few months.”

"Heightened uncertainty surrounds the inflation trajectory, which is heavily contingent upon the evolving geopolitical situation," central bank governor Shaktikanta Das said. "Global commodity price dynamics are driving the path of food inflation in India, including prices of inflation-sensitive items that are impacted by global shortages due to output losses and export restrictions by key producing countries."

Hero MotoCorp, incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 48144.69 crore) operating in Auto sector.

Sameet Chavan of Angel One said that the range of 16,800-16,900 have now become an immediate hurdle. "It would be interesting to see how Nifty behaves around 16,600-16,500," he said.

The brokerage said it notes that the company has Rs 10 billion of cash on books as of March 2022 which it plans to utilize for inorganic growth. Absure (dealer assisted car buy and sell model) will take time to scale-up given lack of high quality used car dealers.

"India is not banning crypto outright like the initial rumors suggested and actually taxing it is a good first step. However, 30 per cent tax on the gains is steep and will need to be revised in the future. Also, the other aspects need clarity for Indian web3 founders to build products in India without worrying about the law. These need to be better defined in order to retain this talent in India and not see what happened during Web 2.0."

The global cryptocurrency market cap was trading stronger at the $1.82 trillion mark, rising more than 5 per cent in the last 24 hours. However, the total cryptocurrency trading volume zoomed about 40 per cent to $100.69 billion.

The brokerage sees the risk-reward quite favorable for the stock but would still maintain ADD rating on the stock. It would look to upgrade this to Buy once it sees either signs of inflation subsiding or rural growth picking up, which should be strong re-rating triggers for the stock which looks set to outgrow peers in the medium-term.

The spot price of gold has dropped about Rs 2,500 per 10 grams since April 18, 2022, whereas silver has tumbled almost Rs 8,800 per kg in the same period under review.

"m.Stock is creating a completely new category in the broking industry, we are creating a segment which will now be called zero cost broking. That is where our USPs also come from, pricing is now going to be looked at very differently. Beyond the flat per order pricing which most of the current players follow, we offer lifetime free investment & trading across segments at a small account opening fee of just Rs 999."