Well, after a 300 points drop in the previous session, bulls put up a strong show on Thursday fuelled by some short coverings and formation of long positions.

After a large gap-up opening, bulls managed to push the index higher by over 500 points on the Sensex led by banks, after the Reserve Bank of India (RBI) maintained its status quo stance on rates but guided for lower inflation trajectory.

RBI has decided to hold the key policy rates in the first Monetary Policy decision for 2018-19\.

While status quo on policy rates were on expected lines, the Goldilocks scenario that RBI has outlined for the new fiscal- with higher growth expectations and lower inflationary forecasts- could very well indicate rates on hold for the whole year

“It will boost the general market sentiments and bond markets in particular. The fact that the committee has looked through the volatility episodes in the financial market to balance the tightrope walk between rising global rates and nascent domestic growth reiterates its “data dependency” approach,” Rajni Thakur, Economist, RBL Bank said.

Devang Mehta, Head – Equity Advisory, Centrum Wealth Management said that with revised lower Inflation trajectory by RBI, equity markets were clearly enthused.

“We have been constantly advising clients to accumulate good quality stocks in a market which has corrected both in terms of valuations & price points. We continue to be bullish on domestic themes where there is good predictability of earnings growth,” he said.

The Nifty50 closed above its crucial short-term moving averages and 200-days exponential moving average (DEMA) at 10,325, up 196 points or 1.94 percent. It clocked best one-day in gain in last two years.

The S&P BSE Sensex ended 577 points higher at 33,596 or 1.75 percent. It hit an intraday low of 33267 and an intraday high of 33,637 in trade today.

The benchmark indices gain over 1 percent while broader indices surge over 2 percent. The market breadth was in favour of advances with advance-decline ratio at 6:1.

Only 2 Nifty Stocks (Cipla & Bharti Airtel) closed in the red while financials contributed 50 percent to Nifty gains. All Nifty bank stocks closed higher with ICICI Bank, Kotak Mahindra Bank being top gainers.

The put-call ratio also improved to 1.37 from Wednesday’s close of 1.30.

On the sectoral front, the S&P BSE Metal index rose 4%, followed by banks which gained 2.7%, and realty index was up 2.5%.

Top Sensex gainers include names like State Bank of India (up 4.6%), Tata Motors DVR (up 3.9%), Tata Steel (up 3.6%), ICICI Bank (up 3.5%), and Kotak Mahindra Bank (up 3.3%).

**Moneycontrol News**

**Here is a list of top five stocks which could give up to 14% return in short term:**

InterGlobe Aviation Ltd: BUY | Close: Rs 1367.85 | Target: Rs 1500 | Stop loss: Rs 1282 | Return: 9.65%

On the weekly scale, Indigo has taken support around its 50-DMA and bounced back with moderate volume, which suggests that the stock has made a temporary bottom around Rs 1190 levels.

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

The positional traders can buy the stock in the range of Rs 1360-1370 with a stop loss below Rs 1282 (closing) for the target of Rs 1500.

Jamna Auto Industries Ltd: BUY | Close: Rs 85.85 | Target: Rs 98 | Stop loss: Rs 78.50 | Return: 14.15%

The stock has given a consolidation breakout above Rs 80 level on the daily scale with higher volumes. The Daily Relative Strength Index (RSI) is showing an upward trend and the MACD is trading with a positive crossover above the zero line, which indicates that the stock has potential to move higher from current levels.

Positional traders can buy the stock at current levels and add on dips around Rs 81-83 with a stop loss below Rs 78.50 (closing) for a target of Rs 98.

Exide Industries Ltd: BUY | Close: Rs 232.95 | Target: Rs 260 | Stop loss: Rs 215 | Return: 11.59%

The stock price has taken the support of the upward trend line and bounced back from the same on the weekly scale. The weekly Relative Strength Index (RSI) is showing upward momentum and the MACD is sustaining above the zero line with positive crossover.

Based on the above-mentioned observations traders can buy the stock in the range of Rs 228-233 with a stop loss below Rs 215 (closing) for the target of Rs 260.

Kaveri Seed Company Ltd: BUY | Close: 499.80 | Target: Rs 555 | Stop loss: Rs 470 | Return: 11.00%

The stock has given a breakout from symmetrical triangle pattern above Rs 487-489 levels on Monday with moderate volumes in the daily scale.

The Daily Relative strength index (RSI) is making the higher bottom and higher top and MACD is trading with a positive crossover near zero line whereas OBV — On Balance Volume, continuously trading in a positive channel.

Traders can buy the stock in the range of Rs 495-500 with a stop loss below Rs 470 (closing) for the target of Rs 555.

Colgate Palmolive (India) Ltd: Buy | Close: Rs 1085 | Target: Rs 1148 | Stop loss: Rs 1050 | Return: 5.81%

The stock has given rounding bottom pattern breakout above Rs 1070 level in the daily scale. The daily Relative Strength Index (RSI) is showing upward momentum and the MACD is trading with positive crossover whereas +DI just started the journey above –DI.

Based on the above observation, positional traders can buy the stock at current levels and add on dips around Rs 1070-1075 with a stop loss below Rs 1050 (closing) for a target of Rs 1148.

Disclaimer: The author is Research Analyst, Guiness Securities. The views and investment tips expressed by investment experts on moneycontrol.com are his own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

**Moneycontrol News**

The Nifty50 is expected to open flat on Wednesday tracking muted trend seen in other Asian markets. The Nifty50 closed 33 points higher at 10,245 on Tuesday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 7.5 points or 0.07 percent. The Nifty futures were trading around 10,268-level on the Singaporean Exchange.

The three major US stock indexes ended higher after a choppy session on Tuesday as investors looked forward to earnings season while the S&P 500 pushed above a key support level, Reuters reported.

The Dow Jones Industrial Average rose 389.17 points, or 1.65 percent, to 24,033.36, the S&P 500 gained 32.57 points, or 1.26 percent, to 2,614.45 and the Nasdaq Composite added 71.16 points, or 1.04 percent, to 6,941.28.

Asian markets were mixed in early Wednesday trade as Japanese stocks tracked gains seen on Wall Street overnight on a bounce in large cap technology names.

Japan's Nikkei 225 edged up by 0.42 percent and Topix crept higher by 0.16 percent. South Korea's benchmark Kospi index slipped 0.09 percent, weighed down by declines in the technology sector, CNBC reported.

The S&P BSE Sensex plunged over 300 points on Wednesday after China has announced new tariffs on 106 US products, which include soybeans, cars, and whiskey.

After two successive days of buying, bears clawed back on D-Street and pushed benchmark indices below key support levels. The domestic equity market wiped off Rs 1.2 lakh crore in investor wealth on Wednesday.

The market capitalisation of BSE-listed companies plunged to Rs 144.13 lakh crore today from Rs 145.33 lakh crore recorded in the previous session.

China on Wednesday issued a $50 billion list of US goods including soybeans and aircraft targeted for possible retaliation in an escalating technology dispute with Washington that companies worry could set back the global economic recovery, said an AP report.

Apart from global overhang, expectations remain muted for the RBI policy announcement scheduled on Thursday, with no rate change largely anticipated. Sectorally banks underperformed in trade today, giving away most of the gains accumulated over the previous two sessions.

The Nifty Bank index lost nearly 400 points while the Nifty50 slipped more than 100 points as all sectoral indices are in the red barring Auto. Banks remain under pressure with Nifty bank slipping 400 points. Financials drag Nifty by over 50 percent.

Only 8 Nifty stocks closed in the green; Tata Motors and Eicher top gainers. Market breadth slipped in favour of declines. The advance-decline ratio at 3:4.

The Dow Jones futures are down 2 percent, indicating negative opening on Wall Street later today.

The Nifty50 has wiped out most of the gains made in the last two trading sessions post today’s fall. The index closed 116 points lower or 1.14 percent at 10,128.40\.

The S&P BSE Sensex closed above its crucial psychological support level of 33000 after breaching in a trade earlier today. The index closed 351 points lower or 1.05 percent at 33,019\.

On the sectoral front, the S&P BSE Metal index lost nearly 3 percent, followed by BSE Consumer Durable which saw a fall of 2.5 percent, and Capital Goods index which fell nearly 2 percent.

The fall in the S&P BSE Sensex was led by losses in HDFC Bank, HDFC, L&T, Infosys, and Kotak Mahindra Bank. On the other hand, Tata Motors rose 3.4 percent, followed by Tata Motors DVR which gained 2.6 percent.

From big corporations to kiranawallas, family-run businesses are everywhere in India. The Tatas, Birlas, and Ambanis are some of the most powerful and recognized business families, but there are several more.

India has the third highest number of family-owned businesses in the world. China tops the chart with 167 family-owned businesses, while the US has a 121 such businesses.

Several things we use in our daily lives are manufactured or supplied by family-run companies.

According to Inc.com, “A family-owned business may be defined as any business in which two or more family members are involved and the majority of ownership or control lies within a family.”

In this series of podcasts, Moneycontrol will look at each of the major family businesses in India. Listen to know more on what exactly constitutes a family-owned business.

The Nifty50 is expected to open lower on Tuesday tracking muted trend seen in other Asian markets. The Nifty50 index closed 98 points higher at 10,211.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 56.5 points or 0.55 percent. The Nifty futures were trading around 10,208-level on the Singaporean Exchange.

Wall Street shares plunged on Monday as investors fled technology stocks amid resurgent trade war worries, with key indexes trading below their 200-day moving averages and the S&P 500 closing below that pivotal technical level for the first time since June 2016, Reuters reported.

The Dow Jones Industrial Average fell 458.92 points, or 1.9 percent, to end at 23,644.19 after dipping below its 200-day moving average. The S&P 500 fell 58.99 points, or 2.23 percent, to 2,581.88 and the Nasdaq Composite dropped 193.33 points, or 2.74 percent, to 6,870.12.

Asian shares slid in early trade, with Japan leading losses in the region after markets stateside came under pressure from the drop in tech stocks and trade-related worries, CNBC reported.

By closing above the 10208 level on Monday, the Nifty has confirmed higher top and higher bottom formation on the daily charts for the first time since the correction, which started from January 2018\.

The Nifty has also given a breakout from small bullish Inverse head and shoulder on the daily charts. The target for this pattern comes at 10500 odd levels. The Nifty also managed to close above its 200-day SMA which is currently placed at 10183 level.

Moreover, Nifty has already witnessed a fall of almost 11 percent from the all-time high of 11171 registered in January 2018 to the recent bottom of 9951\.

The Nifty Midcap and Smallcap indices plunged 16% and 21% respectively from the all-time high to recent low. Many stocks have seen a fall of than 40% from their 3-month’s high.

Few oscillators like RSI and KST have formed positive divergence. This means price levels were making lower bottoms and oscillators were making higher bottoms, indicating that dominance of bears is gradually going down.

Moreover, many stocks from midcap and small-cap segment look extremely oversold on charts and pullback from these levels is expected to continue.

From the derivative side, we are starting the April series with lower Stock Futures’ Open Interest (Four month Low) which in turn indicates lower leveraged positions, which Augurs well for the markets for the days to come.

Amongst the Options, Highest put writing is seen at 10000 level indicating 10000 level to act as a strong support for the coming days.

Considering the evidence discussed above, our advice would be to accumulate long positions with the stop loss of 10000 levels with a target of 10500 levels.

Even as ICICI Bank's Board and Chairman MK Sharma have given a clean chit to CEO Chanda Kochhar in the case pertaining to the Rs 3,250 crore loan given to Videocon group, the Enforcement Directorate and Income Tax Department are in the process of collection of relevant files and document from the RBI and SEBI. 

Former chairman of ICICI Bank N Vaghul too defended Kochhar, and clarified that no new loans have been issued to Videocon Group since 2012\. He also clarified that the Rs 3,250-crore loan was in fact the "exposure" of ICICI Bank at the time.

The CBI has also questioned a few ICICI Bank officials as part of its preliminary inquiry to find out if any quid pro quo was involved in the bank issuing the loan to the Venugopal Dhoot-led company.

Listen in to this podcast to know the latest in the ICICI Bank-Videocon loan case.

Uber has been in news for various reasons lately. 

Recently, Uber announced a deal to sell its Southeast Asian operations to rival Grab for a 27.5 per cent stake in the combined entity.

Also, there are speculations in the market regarding merger of Uber with Ola in India.

So what does the future hold for Uber?

The S&P BSE Sensex bounced back in last one hour of trade on Tuesday as bulls pushed the index higher by over 100 points on Tuesday, helped by gains in ICICI Bank (largely short coverings), followed by RIL, and Mahindra & Mahindra (M&M).

The Nifty50 index which is trading above its short-term moving average reclaimed 10,250 levels in trade today. Bulls managed to defend 10200 level on a closing basis as bears managed to push the index below 10200 to hit its intraday low of 10171.05\.

The S&P BSE Sensex closed 115 points higher or 0.35 percent at 33,370.63\. The Nifty50 rallied 33 points higher or 0.33 percent at 10,245.

The S&P BSE Smallcap index ended 1.3 percent higher while the S&P BSE Midcap index ended 0.92 percent up.

Sectorally, the S&P BSE Power, banks, PSU rose over 1 percent while the consumer durable and auto stocks saw some bit of profit booking.

Almost 28 stocks on the NSE hit a fresh 52-week high while over 70 stocks on the BSE rose to fresh 52-week highs which include names like LG Balkrishnan, Bajaj Electricals, MRF, Nestle India, Britannia, Chola Finance, IndusInd Bank, Indigo, Apollo Tyres etc. among others.