​Jindal Drilling & Industries, incorporated in the year 1983, is a Small Cap company (having a market cap of Rs 859.29 Crore) operating in Gas & Petroleum sector.

The homegrown auto major Tata Motors said it would explore the possibility of partial divestment of its holding in subsidiary Tata Technologies Ltd through an initial public offering route.

In the Nifty pack, 7 stocks closed in the green, while 43 stocks ended in the red.

The stock has managed to close above its 200-day moving average. The daily RSI (14) has confirmed a range shift. Thus we advise traders to buy the stock on dips near 73 for an upside target of 80 in the coming week.

In the Nifty pack, 7 stocks were trading in the green, while 43 stocks were trading in the red.

In the Nifty50 index, 6 stocks were trading in the green, while 44 stocks were in the red.

The Nifty Pharma index was trading 0.92 per cent down at 12494.25.

"In addition to a 75 bps hike, the US Feds commentary has upped market expectations of a peak rate of 4.4% by the end of the year, and 4.6% by 2023, much higher than previous expectations, prompting traders to take money off the table."

The Nifty Bank index closed 1.39 per cent down at 40630.6.

The Nifty IT index closed 0.23 per cent down at 26782.65.

The Nifty Auto index closed 0.74 per cent up at 13320.75.

The Nifty Pharma index closed 0.31 per cent up at 12612.85.

The Nifty Realty index closed 0.28 per cent down at 450.05.

The Nifty Bank index was trading 1.11 per cent down at 40746.4.

The Nifty Realty index was trading 0.38 per cent down at 449.6.

The Nifty Auto index was trading 0.31 per cent up at 13264.9.

Management hopes to resolve technical issues in oil well D1 and gas well D2 in the current calendar year.

Naraj Shetti, Technical Research Analyst, HDFC Securities, said the short-term trend of Nifty continues to be range-bound. “But Friday's sharp upside recovery from the lows hints at the possibility of more upside for the market ahead. A sustainable upmove above 15,900-15,950 levels could bring bulls back into the market and that could possibly pull the Nifty towards the next upside levels of 16,200-16,300 levels quickly. Immediate support is placed at 15,630,” he said.

Naraj Shetti, Technical Research Analyst, HDFC Securities, said the short-term trend of Nifty continues to be range-bound. “But Friday's sharp upside recovery from the lows hints at the possibility of more upside for the market ahead. A sustainable upmove above 15,900-15,950 levels could bring bulls back into the market and that could possibly pull the Nifty towards the next upside levels of 16,200-16,300 levels quickly. Immediate support is placed at 15,630,” he said.

The company has begun gas sales to Gujarat State Petroleum Corporation (GSPC) from ONGC’s gas processing terminal at Hazira.

Inordinate delays in debt resolution of the distressed companies in bankruptcy courts and a nudge from the government to provide additional loans to already distressed power companies have encouraged lenders to look at exit options.

While Vedanta holds 40 per cent interest in the CB-OS/2 block, the state-owned Oil and Natural Gas Corporation (ONGC) has 40 per cent. The balance 10 per cent is held by Tata Ptrodyne Ltd. Vedanta, the operator of the block, is seeking buyers for 0.25 mmscmd of gas for 14 months starting May 1, 2022.

Among stock-specific actions, Sanghi Industries stole the spotlight, whereas Hindustan Oil Exploration continued to be on investors' radar. On the contrary, investors kept Vodafone Idea at bay and booked profits in the recent gainers.

Among the stock-specific actions, companies bagging new deals stole the show. Hindustan Oil Exploration, Titagarh wagons, NCL Industries and others were on a high after signing new deals or acquiring a business. Smaller pharma and chemical players led the losers side.

Gaurav Ratnaparkhi of Sharekhan said Nifty50 may see a brief consolidation near the 15,700-15,850 range before heading towards the 16,000 level on the upside. Mazhar Mohammad of Chartviewindia.in said the 15,900-600 trading range may continue for some time. "The monthly charts have registered two back-to-back indecisive candle formations with a narrow range of 450 points, hinting at pausing momentum,” he said. Heres a look at what some of the key indicators are suggesting for Monday's action: