WEEKLY UPDATE OF STOCKS

Technical View Nifty forms bullish candle, ends at record closing high The bulls regained their pace  after swinging higher and dipping to near closing levels before recovering - all in the morning; and then extending gains sharply as the day progressed on May 24.The Nifty50 opened higher at 11,748 and immediately started wiping out early gains to hit a day's low of 11,658.10, but showed recovery in the morning itself and extended gains gradually to touch an intraday high of 11,859 in late trade. The index closed 187.10 points higher at 11,844.This could be a short covering after the index fell from its historic high on May 23, the day of the Lok Sabha election results.The index ended at record closing high and formed bullish candle on daily as well as weekly charts. For the week, the Nifty rallied 3.8 percent.After recovery from the day low on short covering indicated that the market may remain rangebound in coming sessions, an upside is possible only in case the index crosses its previous record high, experts said.Bulls retained their mojo as the Nifty50 strongly recoiled from the intraday lows of 11,658 levels before signing off the session with a decent bullish candle formation. However, May 24th’s price action is appearing to be more like an upward reaction to the big fall witnessed on May 23 from the highs of 12,043 Buzzing stock JMC Projects gains 11% after securing new orders worth Rs 616 crore Indices end at record closing highs onModi win hangover; Sensex up 623 pts Sugar shares rally; Mawana Sugars, Avadh Sugar zoom up to 20%PSU banks extend gain; Bank of Baroda surges 21% in a weekKEI Industries nears record high; surges 25% in a week on strong Q4 resultsICICI Bank, Titan Company, L&T among top 5 wealth-creating ideas for next 5 yearsIt is a good time for investors looking to start their fresh journey in the market along with the new government at the center, Siddhartha Khemka of MOSL. Ashok Leyland Q4 profit falls 12%  to Rs 653cr, margin touches 11% again Golden Cross .

STOCK SHARES REVIEW

 20 stocks including Bajaj Finance, Shree Cement, SRF, DCM Shriram and Greaves Cotton recorded an over 100 per cent returns in the past two consecutive election calendar years and have outperformed the market thus far in the calendar year 2019 .As the 2019 Lok Sabha elections enter their final lap, with polling for only one of the seven phases left, all eyes are now on the outcome, which will be known on May 23.The equity market is volatile ahead of election results outcome, with the mid-and-small-cap indices down 9 per cent in past one month, while the broader S&P BSE500 index slipped 6 per cent and the benchmark S&P BSE Sensex down 5 per cent.Thus far in CY19, the S&P BSE Sensex has risen 4 per cent, while the S&P BSE500 index has remained flat. However, there are 20 stocks from the S&P BSE 500 index which have outpaced the market by surging 61 per cent thus far in CY19. These stocks gave multi-bagger returns in the previous two election calendar years - 2009 and 2014.Heidelberg Cement, Cera Sanitaryware, HSIL, Somany Ceramics, Blue Star, KRBL, Kalpataru Power Transmission and JK Lakshmi Cement are the among the 13 stocks that have gained over 10 per cent so far in CY19.Interestingly, of these 20 stocks, three companies are each from cement and sanitaryware manufacturing sectors. The list includes stocks from the S&P BSE 500 index, which account for nearly 93 per cent of the total market capitalisation of listed companies on the BSE.DCM Shriram, the top gainer in the list, rallied 61 per cent so far in CY19. The company reported a six-fold jump in the consolidated net profit at Rs 293 crore in March quarter of FY19. It had posted a profit of Rs 51 crore during the same quarter last year.The management said the chemical business, which accounted 36 per cent of total revenue, continues to record strong performance with continuous volumes growth and steady margins.SRF hit a new high of Rs 2,814 on Wednesday, May 15, and has surged 38 per cent in CY19. The company reported 54 per cent year-on-year  jump in consolidated net profit at Rs 191 crore in March quarter on the back of healthy revenue growth. The consolidated revenue grew 29 per cent to Rs 2,072 crore on basis.Bajaj Finance hit a new high of Rs 3,298 on Friday, up 6 per cent on the BSE, gaining 18 per cent thus far in CY19. The company recorded a strong 57 per cent year-on-year ) growth in net profit at Rs 1,176 crore in March quarter. The company’s net interest income, or NII, grew 50 per cent at Rs 3,394 crore on basis.Bajaj Finance's assets under management (AUM) rose 41 per cent to Rs 1.16 trillion, against analysts' expectations of 40 per cent over the previous year quarter.In the previous election calendar year 2014, the stock rallied 121 per cent, while in 2009, it zoomed 408 per cent. Since January 2008, the share price of Bajaj Finance has skyrocketed 52,249 per cent from level of Rs 6.30, as compared to 288 per cent surge in the S&P BSE Sensex

WEEKLY STOCK MARKET UPDATE

A historical analysis of past general elections reveals that BankNifty & financials tends to outperform the Nifty ahead of elections Nifty failed to hold on to 11,600 and opened with a gap on the lower side on May 6 tracking weak global cues. The index broke below three crucial short-term moving averages of 5, 13 and 20 days in one trading session.The index formed a bearish candle that resembles a Doji kind of pattern on the daily charts. It represents indecisiveness among the bulls as well as the bears. A Doji is formed if the opening price and the closing price is virtually the sameBuzzing stock Cadila hits 52-week low on 14 observations from USFDA for Moraiya plantGoldiam International zooms 54% in four days; stock hits 52-week high.Aavas Financiers hits new high on robust Q4 results; stock up 23% in 6 days.Deepak Nitrite soars 8% on stellar March quarter earningsADAG stocks dip: Reliance Home Finance at new low; Reliance Capital down 6%.YES Bank falls 5% as ICRA downgrades bonds rating