OutlookNIFTY:

The Nifty opened at 14599.60 with a minor gap up. The index first recorded its intraday low near the opening tick and rallied higher. Prices have rallied for almost one and half hours after the open and then traded narrow and sideways except for the last hour of trading. Prices have fallen towards the end of the days trading session and finally closed at 14617.85 with a gain of 36.40 points. The Pharma, IT and Auto have led the bulls while Banks, Financials and Realty have led the bears. It was a choppy and narrow range day in the nifty where prices have closed near 14600. This is normal as the last three trading days were very volatile in nature and recorded large range days. We had mentioned that 14650 is a short term resistance while strong resistance is visible around 14900. Prices have roamed around 14650 for the maximum time and finally fell down. We should look for a trade in the direction of the breakout. Buy above 14700 with a stop around 14620 and a target at 14900. Or sell short below 14580 with a stop above 14660 and for the target of 14400.

BANK NIFTY:

Bank Nifty opened at 32161.45 without much of a gap. The index traded very narrow. Prices have recorded its intraday high and low within the first 15 minutes of trading and spent the rest of the day moving within the same zone. Prices have finally closed at 31977.45. Private and PSU Banks both have seen a decline and closed lower. Within the  index, AU Bank contributed highest while ICICI Bank the lowest. It was a narrow range day in the index. This is normal after 3 days of high volatile movement.

We have mentioned 32500 as a short term resistance. If the current up move is a correction in an ongoing downtrend then prices may halt at 32500. That gives us a trading opportunity. A move above 32500 will give us a buying opportunity in the index.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
AARTI INDUSTRIES 1425.25 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1400 and for the target 1470.
TATACHEM 753.10 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 740 and for the target 780

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
CIPLA 940 CE BUY 32.25 CMP 24 42 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
NAM-INDIA.21.04 Apr 338.8 1.82 59.31 1916800 PETRONET.21.04 Apr 220.7 -1.03 10.17 18237000
SIEMENS.21.04 Apr 1849.3 1.77 21.8 980100 APOLLOTYRE.21.04 Apr 209.05 -0.12 8.74 12070000
NAVINFLUOR.21.04 Apr 3134 5.4 20.54 308925 PVR.21.04 Apr 1041.5 -1.64 8.42 2033372
AARTIIND.21.04 Apr 1423.95 3.87 19.24 481950 HDFCLIFE.21.04 Apr 692.95 -0.52 7.93 8468900
CADILAHC.21.04 Apr 528 4.19 14.62 13730200 LTTS.21.04 Apr 2734 -1.26 7.77 527000
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
TORNTPOWER.21.04 Apr 406.95 2.49 -6.28 2061000 FINNIFTYW.21.04 Apr 15371.25 -0.07 -83.51 640
ESCORTS.21.04 Apr 1239.95 1.64 -4.89 1861200 JSWSTEEL.21.04 Apr 618.35 -1.79 -3.5 35437500
SUNTV.21.04 Apr 475.45 2.09 -2.83 12531000 CUB.21.04 Apr 161.7 -0.4 -2.39 7455500
DLF.21.04 Apr 252 1.23 -2.61 30333600 BANKNIFTY.21.04 Apr 32023.1 -0.57 -2.04 1853100
SBILIFE.21.04 Apr 915.05 0.56 -2.6 4671750 SAIL.21.04 Apr 91.4 -1.83 -1.58 1.21E+08

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Unilever Ltd 2458.9 -0.07 1225517 2318209 69.15 Nifty Pharma 13234.25 1.9 80670
Petronet Lng Limited 220.55 -0.7 5628509 2611859 65.76 Nifty Media 1474.4 1.87 80670
Colgate Palmolive (india 1570.85 0.99 428648 462047 63.44 Nifty Auto 9808.95 1.21 80670
Dabur India Ltd. 575 0.52 3675431 3224828 60.43 Nifty it 26324.9 1.21 80670
Hdfc Ltd. 2574.05 1.06 3133311 2455847 58.45 Nifty Metal 4434 0.83 80670
Icici Lombard General In 1417.15 2.2 825956 343227 57.47 Nifty Fmcg 34853.15 0.56 80670
Pidilite Industries Ltd 1823.7 0 566717 322313 55.9 Nifty Energy 17841.05 0.33 80670
Bharat Petroleum Ltd 413.8 2.21 11146313 4005454 55.48 Nifty 50 14617.85 0.25 80670
Nestleind 17252.1 2.23 94190 65138 55.06 Nifty Bank 31977.45 -0.42 80670
Hdfc Bank Ltd. 1428.65 -0.1 7803263 9464480 54.95 Nifty Realty 313.05 -0.45 80670

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  Deposit Growth on 23th  April, 2021

INR:  Bank Loan Growth on 23nd  April, 2021

•USD : Crude Oil Inventories on 21th April, 2021

•USD:  Initial Jobless Claims on 22nd April, 2021

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NEWS UPDATES

•India’s largest private lender HDFC Bank on Saturday reported a 18 per cent year-on-year growth in standalone net profit for the quarter ended March 2021 (Q4FY21) at Rs 8,186 crore. It was Rs 6,927.6 crore in the year-ago period (Q4FY20). Net Interest Income (NII) — the difference between interest earned through lending and interest paid to depositors of the Bank saw a 12.6 per cent rise to Rs 17,120 crore in the reporting quarter, compared to Rs 15,204 crore in the same period last year.

•Crisil has downgraded its rating on long-term bank facilities and non-convertible debentures (NCDs) of PVR Ltd to AA-minus negative from AA negative.The rating on short-term bank facility has been reaffirmed at A1-plus and the rating on Rs 75 crore NCDs has been withdrawn as the instruments have been fully repaid. The rating actions reflect Crisil’s expectation of weakening of PVR’s business risk profile over the medium term. It was earlier expected that with resumption of operations in October 2020, the occupancy will improve gradually with return of content to the multiplexes.

•Pharma exports from India witnessed over 18 per cent growth to USD 24.44 billion during the last financial year against USD 20.58 billion in FY20, Pharmaceuticals Export Promotion Council of India (Pharmexcil) said on Saturday.

•Bharat Heavy Electricals Ltd (BHEL) will procure Rs 3,000 crore of products from small businesses annually as part of the government’s efforts to encourage them, a senior official said on Friday.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ACC Quarterly Results 19-Apr-21 NIMBSPROJ General;Preferential Issue of shares 19-Apr-21
AGIOPAPER Audited Results 19-Apr-21 PANORAMA General 19-Apr-21
AMARJOTHI General 19-Apr-21 PRATIK Audited Results 19-Apr-21
BAJAJCON Audited Results;Final Dividend 19-Apr-21 RESPONSINF Audited Results 19-Apr-21
BORORENEW General 19-Apr-21 SRICC Quarterly Results 19-Apr-21
CHDCHEM General 19-Apr-21 ZUARIGLOB Interim Dividend;General 19-Apr-21
CRISIL Interim Dividend;Quarterly Results 19-Apr-21 5PAISA General;Quarterly Results 20-Apr-21
EASEMYTRIP Interim Dividend 19-Apr-21 CHANDRIMA Audited Results 20-Apr-21
GOODLUCK Issue Of Warrants;Preferential Issue 19-Apr-21 DHPIND General 20-Apr-21
ICICIPRULI Audited Results;Final Dividend 19-Apr-21 INTENTECH ESOP;Issue Of Warrants 20-Apr-21
ISHANCH Interim Dividend 19-Apr-21 NESTLEIND Interim Dividend;Quarterly Results 20-Apr-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ABB 19-Apr-21 Dividend – Rs. – 5.00 CASTROLIND 22-Apr-21 Final Dividend – Rs. – 3.00
SANOFI 19-Apr-21 Final Dividend – Rs. – 125.00 MUTHOOTFIN 22-Apr-21 Interim Dividend – Rs. – 20.00
SANOFI 19-Apr-21 Special Dividend – Rs. – 240.00 NGIL 22-Apr-21 E.G.M.
SCHAEFFLER 19-Apr-21 Dividend – Rs. – 38.00 SWAGRUHA 23-Apr-21 E.G.M.
VESUVIUS 19-Apr-21 Dividend – Rs. – 7.00 ELANTAS 26-Apr-21 Dividend – Rs. – 5.00
ASHFL 22-Apr-21 E.G.M. EASEMYTRIP 27-Apr-21 Interim Dividend

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