outlookNIFTY:

The Nifty opened at 14522.40 with a minor gap up. The index first consolidated there and then started moving downwards. Prices have seen a decline of more than 200 points and recorded its intraday low at 14353.20. The index found support there and then rallied. With the help of a rally of almost 150 points, the index finally closed at 14581.45 with a gain of 76.65 points. The Pharma, Metal, Financial and Banks have led the bulls while the Auto, Media and Realty have led the bears.

After two days of trends days, the index had a volatile day. Prices have seen two big moves yesterday of more than 200 points. One was down and another was up. The Nifty ended near 14600 with some gains. Short term resistance is visible around 14650 while strong resistance is visible around 14900. Strong support is at 14300. We have seen multiple false breakouts in both directions from the last one month and we should wait for a close beyond this range to take a trade. However intraday traders should look for a trade today. Buy above 14650 with a stop at 60 points and a target of 100 points. But if the index does not go above 14650 and starts moving down then sell short below 14500 with a stop of 60 points and target of 100 points.

BANK NIFTY:

Bank Nifty opened at 31929.10 with a gap up of 169 points. Prices have first rallied and then moved down. A sharp decline of more than 500 points took prices to 31406.40 which was also the intraday low. The index then rallied broken above the high made in the morning and finally closed near its intraday high. PSU Banks have underperformed and closed with losses while Private Banks performed better and closed with gains. Within the index, HDFC Bank contributed highest while Indusind bank the lowest. It was a volatile day where prices have seen a sharp moves in both direction and finally ended with gains above 32000. Short term resistance is visible at 32500.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
INFY 1360.75 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1340 and for the target 1390.
PRAJ INDUSTRIES 211.15 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 205 and for the target 225

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
GAIL 140 CE BUY 4.65 CMP 3 7 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
FINNIFTYW.21.04 Apr 15387.25 1.14 23.46 4000 LALPATHLAB.21.04 Apr 2940 -0.61 18.47 500250
WIPRO.21.04 Apr 435.2 3.42 19.38 41081600 SRTRANSFIN.21.04 Apr 1376.85 -0.52 15.06 3674400
MINDTREE.21.04 Apr 2074 0.64 18.77 2607200 APOLLOTYRE.21.04 Apr 208.8 -3.22 11.05 11360000
PFIZER.21.04 Apr 5144.2 0.8 17.01 177125 BHARATFORG.21.04 Apr 574.7 -3.12 10.16 5758500
SAIL.21.04 Apr 93.15 1.91 16.67 133095000 PIIND.21.04 Apr 2418 -1.47 10.07 431750
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
COFORGE.21.04 Apr 3052.55 5.25 -5.39 598500 LTI.21.04 Apr 4045.1 -1.91 -4.15 432600
NMDC.21.04 Apr 141.2 1.55 -3.51 44025700 TORNTPOWER.21.04 Apr 397.5 -0.38 -3.31 2193000
PIDILITIND.21.04 Apr 1825.35 1.02 -3.38 1871500 VOLTAS.21.04 Apr 947 -1.47 -2.85 4367000
JINDALSTEL.21.04 Apr 413.1 0.51 -1.84 30435000 FEDERALBNK.21.04 Apr 76.3 -0.91 -1.55 60190000
DRREDDY.21.04 Apr 4850.15 1.12 -1.59 3414625 PFC.21.04 Apr 109.3 -0.68 -1.54 33653600

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hdfc Ltd. 2547.15 1.36 4201633 2452351 64 Nifty Pharma 12987.05 1.4 83535
Icici Lombard General In 1386.6 1.66 597218 470017 62.78 Nifty Metal 4397.45 1.37 83535
Hindustan Unilever Ltd 2460.65 0.25 3352379 1009633 55.73 Nifty Bank 32112.85 1.07 83535
Pidilite Industries Ltd 1823.75 1.38 576555 605483 55.49 Nifty Energy 17781.65 0.62 83535
Reliance Industries Ltd 1944.3 0.65 9102492 4960483 55.37 Nifty it 26010.85 0.62 83535
Sbi Life Insurance Compa 908.7 1.21 1464475 616392 52.47 Nifty 50 14581.45 0.53 83535
Kotak Mahindra Bank Limi 1773.25 -0.15 3546886 1590289 50.99 Nifty Fmcg 34658.6 -0.18 83535
Hdfc Bank Ltd. 1430.1 2.12 17222492 4769084 50.6 Nifty Realty 314.45 -0.38 83535
City Union Bank Ltd. 162 -0.28 2168104 717732 50.45 Nifty Media 1447.4 -0.66 83535
Hdfc Life Insurance Comp 694.45 -1.65 2566125 1970268 47.23 Nifty Auto 9691.45 -1.29 83535

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  FX Reserves, USD  on 16th  April, 2021 •USD : Building Permits (Mar) on 16th April, 2021

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NEWS UPDATES

•Wipro on Thursday reported a consolidated net profit of Rs 2,972.3 crore for March quarter of financial year 2020-21 (Q4FY21), up 27.78 per cent year-on-year (YoY), as against Rs 2,326.1 crore posted in the same period last year. The company announced Q4FY21 numbers post market hours. On a quarter-on quarter (QoQ) basis, the profit increased marginally by 0.14 per cent, compared to Rs 2,968 crore reported in the December quarter of FY21. Its consolidated revenue from operations, meanwhile, climbed 3.4 per cent YoY to Rs 16,245.4 crore in the recently concluded quarter.

•E-commerce giant Amazon on Thursday announced a $250 million (around Rs 1,873 crore) fund that will focus on digitising small and medium businesses, and drive innovation in the areas of agri-tech and health-tech.

•The 10-year bond yield surged over 10 basis points, its biggest single day gain since August 2020, after the Reserve Bank of India set higher than expected cutoff yields at its first G-SAP (secondary market government security acquisition) auction.

•Bajaj Auto on Thursday expanded its CT range of bikes with the launch of CT110X, priced at Rs 55,494 (ex-showroom). The top-end variant of the CT portfolio, CT110X motorcycle, which is powered by 115 cc DTS-i engine, comes equipped with a rear carrier, which can carry up to 7 kg of weight, besides others features such as semi knobby tyres and a square tube and integrated tank pads, among others, Bajaj Auto said in a release.

Source: Economic Times,  Indian Express  ,Business Today, Livemint, Business Standard, Bloomberg QuintV

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BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AARCOM Audited Results 16-Apr-21 PITHP General 16-Apr-21
ASITCFIN Amalgamation;General 16-Apr-21 REMITR Voluntary Delisting of Shares 16-Apr-21
ATHENAGLO General;Preferential Issue of shares 16-Apr-21 SUPERIOR General 16-Apr-21
BLIL Increase in Authorised Capital 16-Apr-21 WOMENNET General 16-Apr-21
DEN Audited Results;Quarterly Results 16-Apr-21 COFORGE General 17-Apr-21
DRCSYSTEMS General;Preferential Issue of shares 16-Apr-21 GGENG Stock  Split 17-Apr-21
GTPL Audited Results;Dividend 16-Apr-21 GHUSHINE General 17-Apr-21
MINDTREE Final Dividend;Quarterly Results 16-Apr-21 GUJHOTE Audited Results;Final Dividend 17-Apr-21
MMTC Quarterly Results 16-Apr-21 HDFCBANK Audited Results;Quarterly Results 17-Apr-21
MODCL General 16-Apr-21 ICICIGI Audited Results;Dividend 17-Apr-21
PANJON General 16-Apr-21 INFOMEDIA Audited Results 17-Apr-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
SHARDA 16-Apr-21 Stock  Split From Rs.10/- to Rs.2/- HUHTAMAKI 20-Apr-21 Final Dividend – Rs. – 3.00
ABB 19-Apr-21 Dividend – Rs. – 5.00 ASHFL 22-Apr-21 E.G.M.
SANOFI 19-Apr-21 Final Dividend – Rs. – 125.00 CASTROLIND 22-Apr-21 Final Dividend – Rs. – 3.00
SANOFI 19-Apr-21 Special Dividend – Rs. – 240.00 MUTHOOTFIN 22-Apr-21 Interim Dividend – Rs. – 20.00
SCHAEFFLER 19-Apr-21 Dividend – Rs. – 38.00 NGIL 22-Apr-21 E.G.M.
VESUVIUS 19-Apr-21 Dividend – Rs. – 7.00 SWAGRUHA 23-Apr-21 E.G.M.

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