Morning-Outlook-Feature-Image

Morning-Outlook-6april

NIFTY:

Nifty opened at 17723.30 with a gap down of 84 points. The index continued its bearish momentum and continued moving downwards. Support came around 17650 – 1680 and prices bounced up. A sharp rally takes place of about 120 points in the afternoon and prices have recorded its intraday high at 17787.50 and then face strong resistance there. A decline then started that broke the early morning low and brought prices to its intraday low at 17623.70. The index finally closed at 17639.55 with a loss of 168.10 points or 0.94% down. The PHARMA outperformed today and ended with a gain of nearly half percent. OIL GAS, IT,MEDIA, and METAL underperformed today and ended with a loss of more than 1%. After a short-term correction, it is currently trading near the important support level around 17600. If NIFTY holds 17600 support then it is very likely that we may see a trading range somewhere between 17600 -18100 zones. Holding of 17600 will suggest us a buying opportunity. But if it breaks then the next support could emerge around 17000. This will also suggest us taking short trade only on an intraday basis. The summary here is to wait for one or two days more and then we will plan our trades accordingly.

BANK NIFTY:

BANK NIFTY opened at 37421.75 wit h a gap down of 167 points. The index recorded its intraday low at 37346.80 and then started a process of consolidation. Prices have seen a breakout and rallied higher to record its intraday high at 37975.90. The index again moved down and finally closed at 37557.35 without much of a change when compared to yesterday’s closing price. PSU and PVT BANKS both have performed almost same today, saw a minor decline and ended with a loss of 0.36%& 0.23% respectively. Within the index, in terms of points, AXIS BANK contributed the highest while ICICI BANK contributed the lowest. Strong resistance is visible around 39000 while support should emerge around 37000. As mentioned yesterday, “any dip towards the support level is a buying opportunity if index holds this level.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
NAUKRI 4818 BUY The stock is on the verge of giving the breakdown on the intraday as well as the daily chart. The stock can be buy  with a stop loss of 4790 and for the target of  4880.
TITAN 2458 SELL The  immediate trend of the script is bearish. There is a negative  cross over of moving averages  as well as of the indicators therefore  it can be sell below 2450 with a stop loss of 2480 and target  of  2400.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
TCS 3600 PE BUY 58 CMP 40 95 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
INDIGO.Apr 28 1987.2 0.02 1.74 2711500 IDFC.Apr 28 63.3 -6.22 4.98 1.13E+08
DALBHARAT.Apr 28 1599.2 0.03 0.04 1289250 NAM-INDIA.Apr 28 338.35 -3.88 6.53 3052800
ASIANPAINT.Apr 28 3163.1 0.03 1.08 5182950 TATAPOWER.Apr 28 280.1 -3.66 2.89 1.04E+08
ULTRACEMCO.Apr 28 6751.95 0.05 0.53 2072800 CONCOR.Apr 28 689.35 -3.45 0.18 6332000
HEROMOTOCO.Apr 28 2354.75 0.11 0.62 3971400 DIXON.Apr 28 4460 -3.25 6.93 605875
                                                                        Short Covering                                                                       Long Unwinding
SUNTV.Apr 28 501.15 0.05 -0.22 12672000 NATIONALUM.Apr 28 125.65 -3.9 -2.34 88714500
UPL.Apr 28 808.1 0.09 -0.03 23842000 ADANIPORTS.Apr 28 824.15 -3.25 -0.84 78832500
MGL.Apr 28 823.5 0.15 -0.2 3015600 ADANIENT.Apr 28 2114 -2.36 -0.74 19211000
INDIACEM.Apr 28 222.85 0.18 -0.12 14195500 L&TFH.Apr 28 85.7 -2.17 -0.21 41487676
EICHERMOT.Apr 28 2550.8 0.29 -0.16 3357200 ONGC.Apr 28 170 -2.07 -0.93 58250500

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Indus Towers Limited 218.5 0.67 5650354 0 71.06 Nifty50 17639.55 -0.94 79674
Honeywell Auto India Ltd 40972.85 3.28 4793 0 69.78 Niftybank 37557.35 -0.2 79674
Icici Prudential Life In 521.55 0.98 1371691 0 69.66 Nifty it 35423.25 -1.25 79674
Sbi Life Insurance Compa 1108.85 0.16 966698 0 67.45 India Vix 19 -0.12 79671
Hindustan Unilever Ltd 2164.8 1.06 1824732 0 67.4 Nifty Fmcg 37561.7 -0.07 79674
Reliance Industries Ltd 2572.85 -1.76 7151632 0 64.36 Nifty Pharma 13815 0.41 79674
Infosys Limited 1811 -0.98 5797544 0 64.3 Nifty Realty 473.85 0.03 79674
Larsen & Toubro Limited 1826.3 -1.43 2003954 0 62.71 Nifty Auto 10820.7 -0.79 79674
Hdfc Life Insurance Comp 559 0.57 3159512 0 62.41 Nifty Metal 6618.35 -1.66 79674
Syngene 610.15 0.13 231187 0 62.38 Nifty Financial Services 17577.4 -0.71 79674

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: FX Reserves, USD on  8th April, 2022

INR: RBI Interest Rate decision on 8th April, 2022

•USD:  Core CPI (YoY) (Mar) on 12th April, 2022

NEWS UPDATES

  • After two years of lull, India’s sugar consumption is set to hit record highs in the current summer season as demand from bulk consumers such as cold drink and ice cream-makers rises after the lifting of COVID-19 restrictions, industry officials said. India’s sugar consumption in the 2021/22 marketing year that ends on Sept. 30 is set to rise by nearly 3% from a year ago to an all-time high of 27.2 million tonnes, according to the Indian Sugar Mills Association (ISMA).
  • Tata Motors on Thursday said it has bagged an order for 1,300 commercial vehicles from VRL Logistics. The order comprises medium and heavy commercial vehicle and intermediate & light commercial vehicle range, suited for logistics operations of VRL Logistics, the Mumbai-based automaker said in a statement. The vehicles were selected basis the superior drivability, high fuel efficiency and low total cost of ownership, which will enable VRL Logistics to increase its fleet efficiency.
  • Bank of Maharashtra on Thursday announced the execution of a share purchase to divest its entire stake of 4% in India SME Asset Reconstruction Company (ISARC). The bank will divest its entire stake in ISARC for a consideration of ₹3.92 crore. The transaction is expected to close by December 2022-end.
  • With Indian IT services companies are set to announce their fiscal fourth quarter earnings (Q4FY22) beginning next week, investors will keep an eye on both the numbers and trends. As per sector analysts, demand outlook for Indian IT services companies remains robust on the back of strong tailwinds for the industry following digital and cloud transformation initiatives with enterprise clients.
Source: Economic Times,  Indian Express  ,Business Today, Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ADANIENT Preferential Issue of shares 08-Apr-22 SINDHUTRAD Bonus issue;General 08-Apr-22
ADANIGREEN Preferential Issue of shares 08-Apr-22 DARSHANORNA Audited Results 09-Apr-22
ADANITRANS Preferential Issue of shares 08-Apr-22 DECCAN General;Preferential Issue of shares 09-Apr-22
CESL Scheme of Arrangement 08-Apr-22 SMGOLD Audited Results 09-Apr-22
GBFL General 08-Apr-22 TIMETECHNO General 09-Apr-22
GTPL Audited Results;Final Dividend 08-Apr-22 TRISHAKT Preferential Issue of shares 09-Apr-22
HIPPOCABS Audited Results;Half Yearly Results 08-Apr-22 UNISTRMU Audited Results 09-Apr-22
KLKELEC Audited Results;Quarterly Results 08-Apr-22 VEGETABLE General 09-Apr-22
LATIMMETAL Stock  Split 08-Apr-22 ROLTA Quarterly Results 10-Apr-22
LGBFORGE Quarterly Results 08-Apr-22 SANDUMA Right Issue of Equity Shares 10-Apr-22
MCCHRLS-B General 08-Apr-22 7NR Right Issue of Equity Shares;General 11-Apr-22
PANORAMA General 08-Apr-22 BETXIND General 11-Apr-22
PFS Quarterly Results 08-Apr-22 BIRLATYRES Audited Results;Quarterly Results 11-Apr-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ANGELONE 08-Apr-22 Interim Dividend – Rs. – 7.0000 JYOTISTRUC 12-Apr-22 E.G.M.
DATASOFT 08-Apr-22 E.G.M. SANOFI 12-Apr-22 Final Dividend – Rs. – 181.0000
ASIANTILES 11-Apr-22 Right Issue of Equity Shares SANOFI 12-Apr-22 Special Dividend – Rs. – 309.0000
BMW 11-Apr-22 Interim Dividend – Rs. – 0.0200 WORL 12-Apr-22 Bonus issue 2:1
PCBL 11-Apr-22 Stock  Split From Rs.2/- to Rs.1/- MAHINDCIE 13-Apr-22 Final Dividend – Rs. – 2.5000
ADCON 12-Apr-22 Stock  Split From Rs.10/- to Rs.1/- DUCON 18-Apr-22 Bonus issue 1:10
ARIHCAPM 12-Apr-22 Stock  Split From Rs.5/- to Rs.1/- INFRATRUST 18-Apr-22 Income Distribution (InvIT)
BALFC 12-Apr-22 Stock  Split From Rs.10/- to Rs.2/- VSL 18-Apr-22 Stock  Split From Rs.10/- to Rs.2/-

Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, suhail@elitewealth.in
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing research@elitestock.com with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail research@elitestock.com.
Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
2. Compensation
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL