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NSE Nifty50 on positive outlook in contrast with global news

By Vinu Lal

01:49, 22 April 2022

Stock market graphic
On Thursday, Nifty closed up 1.49% at 17,392.60 – Photo: Shutterstock

The NSE Nifty50 Index could stay positive on Friday, even as geopolitical issues and rising consumer price inflation continue to haunt, analysts told

“The short-term trend of Nifty continues to be positive. A sustainable move above the immediate resistance of 17,450-17,500 levels could open the next upside levels of around 17,800-18,000 levels in the near term. Immediate support is placed at 17,250,” Nagaraj Shetti, technical research analyst at HDFC Securities said.

“Friday is likely to see a quiet start to the day. The levels of 17,440 and 17,500 will act as probable resistance points. The supports come in at 17,280 and 17,185 levels. The 200-DMA (daily moving average) currently stands at 17,185 and is likely to remain a crucial support point for the Nifty in the near term on a closing basis,” a CapitalVia Global Research note prepared exclusively for said.

“We are of the view that the short-term texture has changed to positive, but due to over-stretch intraday formation, range-bound activity is not ruled out,” Kotak Securities head of equity research (retail) Shrikant Chouhan said.

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India’s Nifty50 (NIFTY50)

Hot stocks for Friday 

HCL Technologies

HCL Technologies (HCLTECH) will be in focus after the large-cap technology major posted a 4.38% quarter-on-quarter rise in consolidated profit at INR35.93bn ($480m) for the three-month period ended 31 March. HCL is aiming to grow 12-14%, quite in line with its real growth for last year, a tad lower than Infosys guidance though.

Revenue from operations rose 1.19% quarter-on-quarter to INR225.97bn, compared with INR223.31bn posted in the December 2021 quarter.

Nestle India

Nestle India management on Thursday indicated that raw materials costs are only going to rise going forward even as it declared a drop in profit for the second time in several quarters. The company’s earnings came in during market hours and its share prices closed down 0.22% at INR18,175 on Thursday.


1.25 Price
+0.730% 1D Chg, %
Long position overnight fee -0.0061%
Short position overnight fee -0.0021%
Overnight fee time 21:00 (UTC)
Spread 0.00013


1.08 Price
+0.740% 1D Chg, %
Long position overnight fee -0.0096%
Short position overnight fee 0.0014%
Overnight fee time 21:00 (UTC)
Spread 0.00006


0.66 Price
+1.160% 1D Chg, %
Long position overnight fee -0.0076%
Short position overnight fee -0.0006%
Overnight fee time 21:00 (UTC)
Spread 0.00006


138.72 Price
-0.440% 1D Chg, %
Long position overnight fee 0.0107%
Short position overnight fee -0.0189%
Overnight fee time 21:00 (UTC)
Spread 0.010

The Maggi instant noodles maker said the cost of key raw and packaging materials is witnessing 10-year highs amid supply constraints, a moneycontrol report said.

Earnings for Friday

Hindustan Zinc (HINDZINC), MMTC (MMTC), Sundram Fasteners (SUNDRMFAST) and Tata Metaliks (TATAMETALI) will be announcing their earnings on Friday. S&P Global firm CRISIL will be holding its annual shareholders’ meeting. 

Nifty closes up

On Thursday, Nifty closed up 1.49% at 17,392.60, with all its indexes closing in the green. Market heavyweights such as Reliance Industries (RELIANCE), Maruti Suzuki India (MARUTI), Tata Consultancy Services (TCS), Housing Development Finance Corporation (HDFC) and Mahindra & Mahindra (M&M) rallied during the day.

“Firm global cues triggered a strong start which further strengthened as the day progressed. Consequently, the Nifty index ended with strong gains of 1.5% to close at 17,411 levels. All the sectoral indices, barring metal, ended higher wherein auto, IT and banking were the top gainers.

“The broader markets too witnessed healthy traction wherein midcap and smallcap ended higher by 1.1% and 1.7%, respectively,” Ajit Mishra, vice president (research) at Religare Broking said.

Markets in this article

India 50
18538.8 USD
38.8 +0.210%
India 50
18538.8 USD
38.8 +0.210%
India 50
18538.8 USD
38.8 +0.210%
India 50
18538.8 USD
38.8 +0.210%
India 50
18538.8 USD
38.8 +0.210%

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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