US markets remained stable despite uncertainty surrounding the US Debt Ceiling crisis. The benchmark index closed on crucial levels and posted a weekly gain of 1.63%. Markets may initiate a directional bias this week, either ending in a breakout or placing an intermediate top. Negotiations over a two-year spending deal are taking place to raise the debt ceiling, with a deadline of June 01. NIFTY charts show a bullish 14-period high with a neutral weekly RSI, some resistance may be experienced at the 18590 and 18700 levels but supports lie in the 18300 and 18150 levels.
Hot Stocks: Brokerage view on Biocon, Info Edge, LIC Housing; Jefferies upgrades M&M
JPMorgan retains overweight rating on LIC Housing Finance, Nomura favors buy rating on Info Edge, BofA Securities suggests buying Biocon, and Jefferies upgrades M&M to
May 17, 2024