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We are happy to state that the performance of our flagship WealthBasket - Alpha Bluechip remained resilient for another year. Over the last 1 year, Alpha Bluechip has delivered a return of 6.4% vs Nifty 200 benchmark returns of -2.2%.

The stock has closed above the 50 and 200EMA.

The first meeting of the Monetary Policy Committee in the new fiscal year is expected to be a tough call as inflation, growth and financial stability have to be balanced. The broad market view seems to be in favor of a 25 bps hike in interest rates as inflation is still very high in India. However, two of the three external members of the committee are in favour of a pause.

Basically in March 2021, the regulator came out with a BCP plan circular, making sure that business continuity should be managed during different events, for example, if there is a terrorist attack or earthquake.

"The recent rally which has taken the Nifty around 600 points from the March lows has been driven by reasonable valuations and short covering. FIIs turning buyers (Rs 4261 crores during the last 4 trading sessions) also has been supportive. Global support for the rally will depend on the payrolls data from the US tomorrow. Already ISM services data has come below expectations. So it is possible that tomorrow’s payrolls data may indicate a slowing economy and this can prove to be positive from the market perspective," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

“Options data suggests a broader trading range in between 17100 to 17800 zones while an immediate trading range in between 17400 to 17700 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

The pharma sector has no growth outlook as patent expiries and earlier growth triggers are no longer there, says independent market expert Mahantesh Sabarad. The focus has shifted to domestic pharma growth, and companies will have to transform their business from generics to branded drugs in order to grow. Sun Pharma stands out as a company that has embraced this strategy. Meanwhile, PSU banking companies will continue to lag due to the NIM compression effect and a situation where deposit rate growth outpaces credit growth, leading to tough times ahead for banks.

Gold futures have yielded gains of 10.61% or Rs 5,839 per 10 grams on a year-to-date (YTD) basis while returning 2.09% or Rs 1,244 in April so far. As for silver futures, YTD gains are at 7.41% or Rs 5,141 while the month-to-date gains stand at 3.24% or Rs 2,337.

Looking ahead, we expect USDINR to stay in a tight band between 81-83 levels over the next quarter. However, growing signs of a slowdown in major global economies could put the domestic currency under pressure going into December. This could prompt a jump higher towards 84.10-84.50 range during the period before it eventually settles around 81-82 band by March 2024.

Breakout above a falling supply line joining last two months highs with a baseat 50 days EMA signalling continuation of the positive bias.