Moneycontrol
Last Updated : May 15, 2018 09:18 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: All eyes on Karnataka election results, PNB Q4 earnings

Apart from latest trend that will come during the course of the day, some key results will be in focus.

Moneycontrol News @moneycontrolcom

The Nifty closed flat on Monday, but saw a move of 60 points in intraday trade. One can expect volatility on Tuesday as the Karnataka election results hit TV screens. A BJP majority is not priced in and neither is a Congress win.

For a breakout, a close above 10,900 is required and for a breakdown, a close below 10,600 would confirm the trend, at least in the short term.

Put-call ratio also rose sharply to 1.65 from 1.49 on the back of aggressive put writing at 10,600-10,700, suggesting Nifty would find strong support around 10,600.

Apart from latest trend that will come during the course of the day, some key results will be in focus. As many as 58 companies will be declaring their results for the quarter ended March later in the day.

Some of the big players are:

Britannia Industries: PAT likely to grow by 28 percent YoY; 2.6 percent QoQ.

Lupin: PAT likely to fall 45 percent YoY; grow by 29 percent QoQ.

Punjab National Bank: The bank will likely post a net loss of over Rs 25,000 crore.

For more, watch the Markets@Moneycontrol show as Moneycontrol Editor Santosh Nair talks to Anchal Pathak about the latest market trends to watch out for today.
First Published on May 15, 2018 09:18 am
Loading...
Sections
Follow us on
Available On