OUTLOOKNIFTY:

The Nifty opened at 14882.65 without much of a gap. The index initially went down and then started moving upside to record its intraday high at 14918.45. Prices then saw a mild decline and recorded its intraday low at 14785.65. The index then spent the rest of the day trading choppy and narrow. Prices have finally closed at 14834.85 with a loss of 38.95 points. The Pharma sector shines and ended with a gain of more than 3% whereas Banks continued its underperformance and ended with a loss of 1%. It was a narrow and choppy day where prices have no clear sense of a direction and the intraday range was very narrow about 133 points. The last two days were very choppy and the index made a pattern of NR7. Prices are trading near its resistance at 14900. A trading range inside. 14600-14900 remained intact. We should wait for a close beyond this range to get a clear direction.

The long tem trend continues to be down while long term momentum has turned up and reached the strength zone. The intermediate trend has changed to up.

BANK NIFTY:

Bank Nifty opened at 32636.90 with a gap down of 162 points. The index first rallied and recorded its intraday high at 32972.15. Prices then saw a mild decline and finally closed at 32446.55 with a loss of 352 points. PSU Banks have performed better and closed higher by more than 2%. Private Banks have closed lower by 0.92%. Within the index, in terms of points, Kotak Bank contributed highest while ICICI Bank the lowest. Bank Nifty continued trading narrow and choppy and closed lower. We have mentioned strong support around 32000. The index remained above that support for the whole day but prices have built a narrow range within this.

A breakout from 32000 may give us a shorting opportunity while a breakout above 33200 will give us a buying opportunity.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
TATAMOTORS 318.2 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 314 and for the target 325
SUNPHARMA 636.75 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 627 and for the target 650

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
KOTAK BANK 1800 CE BUY 52.95 CMP 40 68 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ALKEM.21.04 Apr 2868.9 5.34 40.88 299800 FINNIFTYW.21.04 Apr 15438 -1.39 1025 1800
PFIZER.21.04 Apr 4848 4.39 21.63 87875 AMBUJACEM.21.04 Apr 316.6 -1.86 16.03 20064000
GLENMARK.21.04 Apr 535.25 5.28 21.3 9298900 BAJFINANCE.21.04 Apr 4910.2 -2.98 12.49 3999250
APLLTD.21.04 Apr 1024 4.55 18.52 1094500 HDFCAMC.21.04 Apr 2982.2 -1.39 10.75 669400
SHREECEM.21.04 Apr 31705.6 0.27 18.29 181100 ULTRACEMCO.21.04 Apr 6865 -2.38 9.48 2043800
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
COFORGE.21.04 Apr 3184.85 2.73 -6.32 700500 NAM-INDIA.21.04 Apr 353.85 -1.86 -11.61 1291200
IDEA.21.04 Apr 9.55 0.53 -2.93 614180000 AARTIIND.21.04 Apr 1407.85 -1.22 -5.8 510425
TORNTPOWER.21.04 Apr 425.05 0.08 -2.8 2289000 DEEPAKNTR.21.04 Apr 1691 -1.84 -4.08 1059000
ADANIENT.21.04 Apr 1209.35 3.46 -1.6 16338000 CHOLAFIN.21.04 Apr 559.9 -1.12 -4 5767500
AMARAJABAT.21.04 Apr 823.35 0.53 -1.16 4180000 M&MFIN.21.04 Apr 193.8 -0.89 -3.9 18024000

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Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Icici Lombard General In 1419.6 -0.76 909210 459093 73.04 Nifty Pharma 12995.35 3.04 102456
Alkem 2832.3 4.65 630670 63013 69.4 Nifty Media 1556.95 0.82 102456
Hindustan Unilever Ltd 2476 2.74 2604858 1169318 64.44 Nifty it 27367.05 0.81 102456
Power Grid Corporation o 208.3 -0.33 6622326 7019153 60.96 Nifty Fmcg 35253.1 0.77 102456
Hdfc Ltd. 2513.9 0.45 3234017 1424452 56.73 Nifty 50 14834.85 -0.26 102456
Hdfc Life Insurance Comp 694.85 -0.94 1586783 1078684 53.87 Nifty Auto 9922.95 -0.37 102456
Container Corp Of India 587.35 -0.47 1810213 1937776 53.36 Nifty Realty 332.05 -0.61 102456
Nestleind 17592.4 -0.55 73944 62403 52.88 Nifty Metal 4467.3 -0.62 102456
Hdfc Bank Ltd. 1421.75 -0.77 14078908 4639816 52.68 Nifty Bank 32448.05 -1.02 102456
Oil & Natural Gas Corp 103.8 0.19 17645822 13567986 51.97 Nifty Energy 18077.15 -1.09 102456

Upcoming Economic Data

   Domestic                                                                                                                                                  International
INR:  Industrial Production (YoY) (Feb) on  12th  April 2021

INR:  CPI (YoY) (Mar) on 12th  April, 2021

•USD:  Core CPI (MoM) (Mar) on 13th April, 2021

•USD : Crude Oil Inventories on 14th April, 2021

News Updates

•The Renewables arm of Larsen & Toubro’s Power Transmission & Distribution Business has bagged an order to set up Sudair solar power project of 1.5 GW in Riyadh province of Saudi Arabia. The company did not disclose the value of the contract, but said the orders fall under the “major” category, which ranges between Rs 5,000 crore and Rs 7,000 crore, according to the classification of contracts.

•The initial public offering (IPO) of Macrotech Developers Ltd, earlier known as Lodha Developers, was subscribed 103% as of 1420IST on Friday – the final day of the bidding. The IPO saw a robust response, led by qualified institutional buyers and non-institutional investors.

•Analysts expect TCS to report a 9 per cent year-on-year (YoY) growth in revenue (in rupee terms) for the March quarter, led by the above-mentioned factors. The revenue could rise by 4.8-5 per cent quarter-on-quarter (QoQ) in dollar terms and 3.6-4.8 per cent in constant currency (CC) terms. Most analysts expect TCS to post profit after tax (PAT) growth in the range of 12-17 per cent YoY and 4-8 QoQ.

•The government has ruled out any increase in the price of fertilisers saying that farmers will continue to get nutrients at the older price. The government’s intervention came after reports of fertiliser companies revising prices of non urea fertiliser by upto 58%.

•Source: Economic Times,  Moneycontrol  ,Business Today, Livemint, Business Standard, Bloomberg Quint

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Board Meetings

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
CALSOFT Audited Results 12-Apr-21 TELESYS General 12-Apr-21
CUPIDTR Quarterly Results 12-Apr-21 WWALUM Voluntary Delisting of Shares 12-Apr-21
HDIL Audited Results;Quarterly Results 12-Apr-21 YORKEXP General 12-Apr-21
HINDCOPPER General 12-Apr-21 5PAISA General;Preferential Issue of shares 13-Apr-21
HITECHGEAR Employees Stock Option Plan 12-Apr-21 AIML Quarterly Results 13-Apr-21
IOB Preferential Issue of shares 12-Apr-21 DYNAMICP General 13-Apr-21
LLOYDSME Quarterly Results 12-Apr-21 EUROTEXIND General 13-Apr-21
MUTHOOTFIN Interim Dividend 12-Apr-21 PULSRIN Audited Results;Quarterly Results 13-Apr-21
NOVIS General 12-Apr-21 INFY Final Dividend; Quarterly Results 14-Apr-21
PODDAR General 12-Apr-21 JYOTISTRUC A.G.M.;G eneral; Quarterly Results 14-Apr-21
TCS Audited Results;Final Dividend 12-Apr-21 MAL General 14-Apr-21

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
HARITASEAT 12-Apr-21 Amalgamation ABB 19-Apr-21 Dividend – Rs. – 5.00
STYLAMIND 12-Apr-21 Stock  Split From Rs.10/- to Rs.5/- SANOFI 19-Apr-21 Final Dividend – Rs. – 125.00
FINOLEXIND 15-Apr-21 Stock  Split From Rs.10/- to Rs.2/- SANOFI 19-Apr-21 Special Dividend – Rs. – 240.00
INFRATRUST 15-Apr-21 Income Distribution (InvIT) SCHAEFFLER 19-Apr-21 Dividend – Rs. – 38.00
KSB 15-Apr-21 Dividend – Rs. – 8.5000 VESUVIUS 19-Apr-21 Dividend – Rs. – 7.00
SHARDA 16-Apr-21 Stock  Split From Rs.10/- to Rs.2/- HUHTAMAKI 20-Apr-21 Final Dividend – Rs. – 3.00

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