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Price rebounding after taking support at the 50 day EMA and 61.8% retracement of the previous up move signaling pullback likely in coming sessions.

Indian markets closed positively for the fourth day, with the Sensex up over 70 points and Nifty50 above 17,700. Anupam Rasayan rallied more than 4%, while ITC closed with gains of 0.4% and Zomato rose more than 3%. Technical analyst Viral Chheda recommends buying Zomato stock with stop loss of 48 on a weekly closing basis, booking partial profits for Anupam Rasayan, and buying ITC stock with a stop loss of 370 on a weekly closing basis.

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Indian market had performed a lot better than other markets in 2021 leading India’s valuation at a significant premium to other emerging markets.

According to Bhavik Thakkar of Abans Wealth and Investment Managers, the difference between Bank FD returns and Corporate Debt MF returns are not much and, hence, from a safety point of view, investors may prefer the former.

Yes definitely there is a competitive intensity in their major businesses like pump and the lighting. We are seeing increased as well as butterfly acquisition in the integration phase.

On the options front, the maximum Call OI is placed at 17800 and then towards 18000 strikes while the maximum Put OI is placed at 17700 and then towards 17600 strikes. Minor Call writing is seen at 17800 then 17950 strikes while Put writing is seen at 17750 then 17700 strikes.

Renewed concerns regarding the state of the US economy and banking sector caused both the yen and the US dollar, both safe haven assets, to experience a steep increase in value. The dollar index rose 0.01% to 101.80, with shares of First Republic Bank slumping 50% after a fall in deposits of more than $100bn in Q1. Despite the risk to small US banks, Joseph Capurso, Head of international and sustainable economics at Commonwealth Bank of Australia, expected the USD to stay elevated. Meanwhile, US consumer confidence fell to a nine-month low in April and fresh economic data, including the fourth straight month of contraction in the US Richmond Fed manufacturing index, surfaced to heighten concerns regarding recession.

Renewed concerns regarding the state of the US economy and banking sector caused both the yen and the US dollar, both safe haven assets, to experience a steep increase in value. The dollar index rose 0.01% to 101.80, with shares of First Republic Bank slumping 50% after a fall in deposits of more than $100bn in Q1. Despite the risk to small US banks, Joseph Capurso, Head of international and sustainable economics at Commonwealth Bank of Australia, expected the USD to stay elevated. Meanwhile, US consumer confidence fell to a nine-month low in April and fresh economic data, including the fourth straight month of contraction in the US Richmond Fed manufacturing index, surfaced to heighten concerns regarding recession.

The software maker posted revenue of $52.9 billion in its third fiscal quarter, up 7% from the same period a year ago. Analysts polled by FactSet expected Microsoft to post revenue of $51.02 billion for the quarter.