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