Indian markets have to face a double whammy at the start of the week as India’s industrial output contracted 0.1 per cent in March, recording a 21-month low, due to slowdown in manufacturing sector and the world’s two biggest economies seemed at the end of the road over trade negotiations on Sunday as Washington demanded promises of concrete changes in Chinese law and Beijing said it would not swallow any ‘bitter fruit’ that harmed its interests. At the time of writing, the SGX Nifty was trading lower by 40 points at 11,244.

The stock has strong support in the zone of Rs. 113.85 - Rs. 114.90 as it has an unfilled upside gap which was formed on May 10, 2019. While on the upside, the 20-day EMA is likely to act as immediate resistance, which is currently placed at Rs. 127.55 level.

At present, near the horizontal trendline support, the stock had formed a Doji candle on the weekly scale. The Doji represents indecision in the stock.

The stocks that are likely to witness significant movement on the bourses on May 13 are GAIL, Eicher Motor, Zen Technologies, V-Mart Retail, ITC and HDFC.

New Fund Offers (NFOs) that are open for subscription.

The Securities and Exchange Board of India (SEBI) upped its scrutiny of MFs by raising the surveillance bar. It did so by demanding that the fund houses provide quarterly information pertaining to the AI-based systems employed by them.

Trade war jitters drove markets downwards globally. Indian benchmarks followed the negative sentiment arising from the trade dispute between the US and China coupled with uncertainty due to the ongoing general elections, during the week.

The investments made by Mutual Funds in commercial papers and bonds that mature in 90 days plummeted to Rs. 3.24 trillion towards the end of March reporting the lowest figures in the last six quarters.

Larsen & Toubro was picked by our Bollinger Band squeeze scanner which suggests that the stock is near a consolidation breakout.

The plan to combine the steel business of Thyssenkrupp and Tata Steel in Europe have hit the road blocks. The European Commission is unimpressed by the concession offered by the steel makers and is likely to block the deal.