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Indian equities should underperform emerging markets in CY22 after stellar outperformance in CY21 (24% return) as outperformance looks unsustainable based on earnings growth and RoE differential.

NEW DELHI: The truncated week ended on a cynical note on Dalal Street wherein the benchmark index Nifty ended with a loss of over 1.75 per cent. On the other hand; even the Nifty Bank index remained under pressure to close in red.“Although Nifty breached the support of 17,400 but 17,442 could be an important support in the coming session. For bulls to retaliate back, 17,400-17,300 should remain unharmed,” said Mehul Kothari, AVP - Technical Research, Anand Rathi Shares & Stock Brokers. “On the upside, a breakout above 17,650 would confirm a falling wedge breakout and then we could witness a faster momentum on the upside.”With regards to the Nifty Bank index, he said it is stuck in a range of 37,000-38,000 and a breakout or a breakdown from the given range would determine the further trend.Below are some stocks that will be in focus:

Tata Steel did not elaborate on the ratio of the stock split. It will likely be announced after the board approves the proposal.

For the year ended March 31, 2021, the turnover of MSSSPL stood at Rs 834.43 crore constituting 1.12 per cent of the consolidated turnover of the company, M&M said.

“There has been profit booking in IT stocks which have brought down their valuations lower. So, further selling in IT stocks will be subdued. Results from financials, particularly leading banks will be good and they can impart resilience to the market,” said Vijaykumar.

A 1,000-point drop in the Sensex is just a small dip in its long-term chart. Fretting over the short-term will only aggravate the concerns that an investor may have and cause them to bail out early on a promising investment.

Musk taking over Twitter is seen as a boon by a majority of crypto investors as he has been vocal about cracking down on the rampant scams that have been targeting amateur investors.

"Open Interest (OI) data in the current April series for Nifty50 indicates a Short build-up, and signals from technical indicators suggest that Nifty is likely to trade in the range of 17,250 – 17,750."

As the earning season heats up, we may see some heavy movement in individual stocks this week. Among the key earnings this week are Mindtree, ACC, L&T Infotech, Tata Steel Long Products, ICICI Securities, Tata Elxsi, HCL Tech, ICICI General Insurance, Nestle India, Tata Communication and Rallis India.

According to depositories data, FPIs have pulled out a net sum of Rs 4,518 crore from Indian equities during the holiday shortened April 11-13 week.