The Nifty50 is expected to open higher on Thursday following positive trend seen in other Asian markets. The index closed 18.95 points lower at 10,614 on Wednesday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 25 points or 0.24 percent. Nifty futures were trading around 10,656-level on the Singaporean Stock Exchange.

US stocks ended higher on Wednesday, and the S&P 500 and Dow registered their biggest daily percentage gains since May 4, on signs of easing political turmoil in Italy and as a surge in oil prices boosted energy stocks, said a Reuters report.

Asian stocks rebounded from a two-month trough on Thursday. MSCI’s broadest index of Asia-Pacific shares outside Japan tacked on 0.3 percent having slumped to its weakest since the start of April on Wednesday. South Korea’s KOSPI added 0.6 percent and Japan’s Nikkei advanced 0.5 percent.

Oil prices dropped slightly on Thursday, weighed down by a surprise rise in U.S. crude inventories and by expectations that OPEC and other producers could increase output at a meeting in June, added the Reuters report. Brent crude was trading around $77.30 per barrel.

Pfizer: Buy| Target: Rs 2,960| Stop Loss: Rs 2,240| Return 19%| Time Frame 6 months

The share price of Pfizer India is in a strong uptrend forming rising peak and rising trough and has recently registered a Flag breakout in the monthly chart highlighting the strength in the uptrend which offers a fresh entry opportunity from a medium-term perspective.

The stock entered a sideways consolidation mode after hitting a 52-week high of Rs 2,369 in mid-February 2018 and, thereafter, oscillated in a price band of Rs 2,350 to Rs 2,050 in the last three months.

Pictorially, this sideways consolidation has taken the shape of a bullish Flag pattern as highlighted in the adjoining chart.

The resolute breakout from the bullish Flag pattern in current months trade signals conclusion of the secondary corrective phase and resumption of the primary uptrend thus provides fresh entry opportunity.

The stock has major support in the range of Rs 2,150-2,200 being the confluence of 80% retracement of the previous up move from Rs 2,050 to Rs 2,549 and 12-months EMA.

Time-wise, the stock has seen a faster retracement of the last falling segment as nine weeks decline from Rs 2,369 to Rs 2,080 was completely retraced in just four weeks signalling a robust price structure.

Based on the above technical observation the stock is likely to continue with positive bias and head towards Rs 2,978 levels being the measuring implication of the flag breakout.

The height of the pole of the flag 688 points (2369-1681=688) added to the breakout area of Rs 2,300 projects upside towards Rs 2,978 (2300+ 688=2978).

AIA Engineering: Buy| Target: Rs 1,850| Stop Loss: Rs 1,440| Return 17%| Time Frame 6 months

The share price of AIA Engineering is in a strong uptrend forming a rising peak and rising trough and has recently registered a breakout above the three months consolidation (Rs 1,350-1,494). Thus, it offers a fresh entry opportunity from a medium-term perspective.

The base of the last three months consolidation is placed at the major support area around Rs 1,340-1,390 as it is the confluence of the following technical parameters:

a) A rising trend line support joining the major lows since September 2016 currently placed at | 1390

b) the long-term rising 52 weeks EMA, which has acted as strong support for the stock since April 2016

c) 80% retracement of the previous major up move (| 1273-1709) is placed around | 1360 levels

Time-wise, the stock has already taken 22 weeks to retrace just 80% of the previous 15 weeks up move from Rs 1,273 to Rs 1,709\.

The slower pace of retracement of the rally is a cornerstone of a bullish price structure and indicates the corrective nature of price decline.

Among the oscillators, the weekly MACD has generated a bullish crossover above its signal line thus supports the positive bias in the stock.

Based on the above technical parameter we expect the stock to continue with its current uptrend and head towards Rs 1,850 as it is the 138.2% external retracement of the entire previous decline (| 1709-1320).

Taj GVK Hotels & Resorts: Buy| Target: Rs 265| Stop Loss: Rs 205| Return 17%| Time Frame 1 month

The stock has registered a resolute breakout above the bullish flag pattern highlighting the strength in the uptrend and offers a fresh entry opportunity from a medium-term perspective.

The base of the flag pattern is placed at the crucial support area of Rs 205-210 as it is the confluence of the 50% retracement of the previous up move (Rs 152 to 263) and the trendline support joining previous high placed around Rs 210 levels signalling robust price structure.

Time-wise, the stock has already taken 24 sessions to retrace just 50% of the previous 20 sessions up move from Rs 152 to 263\. A shallow price wise correction indicates robust price structure that augurs well for next leg of up move.

Among the oscillator, the weekly 14 period’s RSI remains in an uptrend and is seen taking support at its nine period’s average thus validates the positive bias in the stock.

We expect the stock to maintain positive bias and head towards Rs 268 being the 161.8% extension of the previous up move (208-243) as projected from the recent trough of Rs 210\. This signals an upside towards Rs 268 in the short-term.

**Moneycontrol News**

The S&P BSE Sensex closed flat after witnessing a volatile day of trade on Wednesday which was largely weighed down by concerns over Italy’s political crisis and renewed trade war fears which pushed stock markets across the globe lower.

The S&P BSE Sensex closed 43 points lower at 34,906.11 ahead of May F&O expiry on Thursday while the Nifty50 managed to hold above 10,600 to close at 10,614, down 18.95 points.

The possibility of fresh general election and Eurosceptic political parties strengthening their vote share has raised concerns about stability in the Eurozone.

Italy is Eurozone’s third-largest economy and has been weak for several years. The country’s debt currently stands at 130 percent of its economic output. The recent developments have led to nervousness in the European and global markets.

“Italy’s political paroxysms have sent jitters across most asset classes including equity, bonds, currencies as well as commodities,” Gaurang Somaiya, Analyst - Currencies, Motilal Oswal Commodities told Moneycontrol.

“This uncertainty has caused fears amongst market participants raised and questions that ‘Will Italy stay in the Euro bloc?’ Stocks across the globe fell following fear that escalating crisis in Italy could deepen further,” he said.

On the sectoral front, the S&P BSE Power index rose 0.2 percent, followed by the S&P BSE Metal index which gained 0.15 percent, and the S&P BSE Banking index rose 0.1 percent.

On the losing front, the S&P BSE Healthcare index which dropped 0.7 percent, followed by the S&P BSE Infrastructure index dropped 0.71 percent, and the S&P BSE Capital Goods index was down 0.68 percent.

The S&P BSE Midcap index rose marginally by 0.03 percent, and the S&P BSE Smallcap index slipped 0.19 percent.

Top Sensex gainers include names like M&M (up 3.08 percent), Coal India (up 2.3 percent), Kotak Mahindra Bank (up 1.4 percent), and Yes Bank (up 1.3 percent).

Top Sensex losers include names like Tata Motors DVR (down 2 percent), followed by Tata Motors (down 1.9 percent), ICICI Bank (down 1.8 percent), and Bajaj Auto (down 1.1 percent).

Banking services at public sector banks across India have been interrupted today, the Wednesday, and will continue to be so tomorrow, the 31st, as public sector bank employees have started their two-day nationwide strike against the meagre 2% salary hike offered by Indian Banks Association.

However, operations in private banks, such as ICICI Bank, HDFC Bank, Axis Bank, were almost normal, barring few activities including cheque clearance. This has been in keeping with the warning issued last week – United Forum of Banking Unions (UFBU), an umbrella body of nine unions, including All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW) - had called for the strike to protest against the ‘meagre’ wage hike offered by the IBA earlier this month. 

Considering it’s the end of the month, the bank strike is likely to affect salary withdrawals. Some ATMs are also likely to take a hit. Besides, deposits in bank branches, renewal of fixed deposits, government treasury operation, money-market operations are also likely to be impacted by the bank strike. Withdrawal and cash-deposits at public sector banks will be affected.

There’s been a lot of chatter about GDPR, a new law that is being implemented by the European Union around privacy of data. GDPR is what led to a great number of emails flooding your and my email inboxes about updated privacy policies. As one email I received said, “We aim to be fair, open and honest about who we are and what we are going to do with the personal data we collect.” Let’s face it. We never believed such declarations anyway. The existence of Cambridge Analytica is proof that data privacy is a myth. Even so, the EU is, ostensibly, making a valiant attempt at privacy.

So what on earth is GDPR and why are all these newsletters flipping out about it? That’s what we will find out on today’s deep dive. My name is Rakesh, and you’re listening to Moneycontrol.

The European Union has implemented a new law with the intent of protecting data privacy. It's called the General Data Protection Regulation, now famous as GDPR. This Friday, it comes into effect in 28 EU countries.

**Kajaria Ceramics Ltd: Buy | Close: Rs 572 | Target: Rs 621 | Stop loss: Rs 526 | Return: 10.89%**

In the weekly scale, the stock has taken a support around its 200-DMA and bounced back with moderate volumes, which suggest that the stock has made a temporary bottom around Rs 500 levels.

The key technical indicators Relative strength index (RSI) and MACD has turned upward which is signaling limited downside in the stock whereas OBV — On Balance Volume is showing an upward momentum.

Based on the above observations positional trader can buy the stock around current levels and add on dips around Rs 555-560 with a stop loss below Rs 526 (closing) for a target of Rs 600.

**The Indian Hotels Company Ltd: Buy | Close: 146.30 | Target: Rs 168 | Stop loss: Rs 135 | Return: 11.72%**

After making a short consolidation, the stock has given a breakout above Rs 141-142 levels on Monday with higher volumes.

The Daily Relative strength index (RSI) showing upward momentum and MACD is trading with positive crossover whereas (+) DI trading above (-) DI, which indicates that the stock has the potential to move higher.

Positional traders can buy the stock in dips at around Rs 142-145 with a stop loss below Rs 135 (closing) for the target of Rs 162.

**Dabur India Ltd: BUY | Close: 385.55 | Target: Rs 408 | Stop loss: Rs 364 | Return: 7.37%**

On daily scales, Dabur has taken a support around on its 23.6 percent retracement level of 23rd March to 18th May up move and bounced back with moderate volumes, which suggests that the stock has made a temporary bottom at around Rs 365 levels.

The Daily Relative strength index (RSI) showing upward move and MACD is trading above zero line and trying to crossover its signal line whereas (+) DI continuously trading above (-) DI, which indicates that the bias could remain bullish for the next few trading sessions.

Based on the above observations, Traders can buy the stock in dips around Rs 377-380 with a stop loss below Rs 364 (closing) for a target of Rs 408.

Moneycontrol News

The Nifty50 is expected to open gap down on Wednesday following muted trend seen in other Asian markets. The index closed 55 points lower at 10,633 on Monday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 80 points or 0.76 percent. Nifty futures were trading around 10,546-level on the Singaporean Stock Exchange.

The S&P 500 and the Dow Jones Industrial Average registered their biggest one-day percentage drop in a month on Tuesday as political turmoil in Italy sparked concerns about the stability of the euro zone and shares of US banks tumbled, said a Reuters report.

Asian shares extended a global sell-off in early trading. MSCI's broadest index of Asia-Pacific shares outside Japan was down 1.1 percent, while Japan's Nikkei average shed 1.7 percent to hit a six-week low.

The Monsson is here and it is the one time of the year that even business news turns into a fairly detailed weather forecast. Of course, largely because India is still, for the most part, an agrarian economy, especially in terms of employment. A good monsoon is generally good news for markets in India. And for politics. Governments are known to have crumbled because of droughts following below average monsoons.

Anyway, back to the rains. The Southwest Monsoon hit Kerala, marking the arrival of the rainy season in the country. The private weather forecaster Skymet said the Monsoon would hit the Kerala coast on May 28\. However, the India Meteorological Department, in its morning bulletin, declared that the Monsoon would hit Kerala in the next 24 hours.

Moneycontrol News

Profit booking hits D-Street as Nifty50 witnessed selling pressure around 10,700 levels for the second consecutive day in a row on Tuesday. The S&P BSE Sensex slipped over 200 points to close below its crucial psychological support at 35,000\.

The S&P BSE Sensex slipped 216 points or 0.61 percent to close at 34,949 while the S&P BSE Sensex ended 55 points lower at 10,633\.

Benchmark indices snapped the three-day winning streak, dented by weak global cues and sharp fall in rupee. Banking & financials are the major losers that pulled the market lower in trade today.

“Banks underperformed grossly with losses of close to one and a half percent, FII s continue to be net sellers in trade for the month. Aurobindo Pharma, ICICI, and SBI were some of the worst performers of the session whereas M&M held up in trade today on the back of stellar results,” Nikhil Kamath, Co-Founder, Zerodha told Moneycontrol.

“Overall, we continue to remain muted on the market's overall and would believe the indices are still overbought at this juncture; we would advocate holding onto short positions at this point,” he said.

Sectorally, the S&P BSE Oil & Gas index rose 0.49 percent, followed by the S&P BSE Auto index which rose 0.43 percent, and the S&P BSE IT index which gained 0.34 percent.

On the losing front, S&P BSE Banking index slipped 1.6 percent, followed by the S&P BSE Healthcare index which dropped 0.8 percent, and the S&P BSE Consumer Durable index which slipped 0.7 percent.

The S&P BSE Midcap index dropped 0.44 percent, and the S&P BSE Smallcap index dropped 0.26 percent.

Top Sensex gainers include M&M (up 2.2 percent), Bharti Airtel (up 1.08 percent), TCS (up 0.54 percent), Hero MotoCorp (up 0.43 percent), and L&T (up 0.18 percent).

Top Sensex losers include SBI (down 2.7 percent), followed by IndusInd Bank (down 2.08 percent), Yes Bank (down 1.7 percent), and Asian Paints (down 1.5 percent).

Moneycontrol News

The Nifty50 is expected to open flat-to-negative on Tuesday following muted trend seen in other Asian markets. The index closed 83 points higher at 10,688 on Monday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 27.50 points or 0.26 percent. Nifty futures were trading around 10,666.50-level on the Singaporean Stock Exchange.

Wall Street remain closed on account of a public Holiday while Asian shares fell on Tuesday and the euro slipped back to 6-1/2 month lows as early elections loomed in Italy. Liquidity is expected to be relatively thin with market holidays in Singapore, Malaysia, Indonesia and Thailand.

The Indian rupee and 10-year bond prices on Monday closed at two-week highs as falling crude oil prices ease inflation and trade deficit worries.