HDFC, Titan scrips to attract investors' attention today

1. Bull market or bear market

We expect Nifty spot to test the support level of 11450. A fall in global markets may test this downside level. Overall we can expect a range bound movement in the market.

2. Stocks likely to be in limelight

HDFC Bank can be in limelight as the Board is considering a proposal to split the face value of its shares on May 22, a move that will increase liquidity. Titan will also be in focus as the company is going to declare its Q4FY19 numbers.

3. Sectors likely to impact the market

NBFCs can be in pressure on account of debt issues. Also, we can expect media stocks to have an impact as most of the stocks are currently in a negative trading zone.

4. Your mid-term view?

As elections are underway, an unclear outcome is causing an uneasiness in the market as India VIX has shot up to around 26 levels. We can expect the market direction to be indecisive for the coming weeks.

5. What drove markets today?

Benchmark indices remained under pressure with the Sensex falling more almost 300 points, dragged by Reliance Industries, ICICI Bank, ITC, Tata Motors and Indian Oil Corporation.

Siddharth Sedani, vice-president - equity advisory, Anand Rathi Shares and Stock Brokers