outlookNIFTY:

The Nifty opened at 14306.60 with a big gap down of 311 points. Prices have moved further on the downside, recorded its intraday low at 14191.40 within the first 30 minutes of trading. For the rest of the day prices have slowly moved up, saw a rally of almost 200 points and recorded its intraday high at 14382.30. The index finally closed at 14359.45 near its opening price. All the sectoral indices have closed with a loss except Pharma. The Bank, Financials, Auto and Realty have led the bears.

We had expected a large move this week and that move came yesterday. Unfortunately the sharp move came in the form of a gap down. So we were not able to make a gain out of it. The Nifty broke down the previous swing low and continued making lower lows. This suggests that the downtrend is intact. The index although has closed above its support of 14300.

BANK NIFTY:

Bank Nifty opened at 30993.45 with a big gap down of 953 points. Prices have continued moving downwards for the first 30 minutes of trading and recorded its intraday low at 30405.65. the index rallied from that low towards the end of the day’s trading session and recorded its intraday high at 31304. PSU and Private banks both have seen a decline and closed lower by 4.31% and 2.38% down. Within the index, Kotak Bank contributed highest on the downside followed by Axis Bank.

We had expected a large move this week and that move came yesterday. Unfortunately the sharp move came in the form of a gap down. So we were not able to make a gain out of it.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
MPHASIS 1703.15 BUY The stock has given a breakout from a narrow trading range. The stock can be bought above 1710 with a stop at 1685 and for the target 1765.
LT 1310.45 SELL The stock has given a breakdown from a narrow trading range. The stock can be sold at CMP with a stop at 1327 and for the target 1290

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
DRREDDY 5000 CE BUY 161.10 CMP 125 210 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
PFIZER.21.04 Apr 5336.65 1.85 14.05 216125 AUBANK.21.04 Apr 1017.4 -5.63 14.08 3144500
APOLLOHOSP.21.04 Apr 3169.1 3.45 8.55 2146500 BAJFINANCE.21.04 Apr 4491.2 -3.09 13.47 4630000
LUPIN.21.04 Apr 1075 1.43 7.96 8415000 ASHOKLEY.21.04 Apr 109.7 -3.65 13.41 43605000
DRREDDY.21.04 Apr 5022.65 2.42 4.94 3440875 ACC.21.04 Apr 1883.6 -0.3 11.46 3507500
GRANULES.21.04 Apr 343 4.32 3.35 6258900 CUMMINSIND.21.04 Apr 843.1 -0.67 10.18 1584000
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
WIPRO.21.04 Apr 472.35 0.57 -4.01 41817600 FINNIFTYW.21.04 Apr 15028 -2.42 -90.34 1360
MINDTREE.21.04 Apr 2094.65 1.12 -1.7 2498400 BANKNIFTY.21.04 Apr 31265.65 -2.53 -6.5 1723825
GLENMARK.21.04 Apr 579 1.14 -1.3 10147600 HINDALCO.21.04 Apr 361.5 -2.56 -5.96 30138700
INFY.21.04 Apr 1362.15 0.6 -1.28 32353800 GUJGASLTD.21.04 Apr 533.65 -2.17 -4.38 818750
NAVINFLUOR.21.04 Apr 3081.6 -2.02 -4.24 299475

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Kotak Mahindra Bank Limi 1700.75 -3.59 3865423 1927232 66.18 Nifty Pharma 13256.25 0.17 94773
Petronet Lng Limited 215 -2.52 3353526 3673216 65.26 Nifty it 26236.9 -0.33 94773
Larsen & Toubro Limited 1310.45 -3.58 4157065 2327307 62.02 Nifty Fmcg 34519 -0.96 94773
Nippon Life India Asset 325.2 -3.56 392247 783754 61.17 Nifty Metal 4366.1 -1.53 94773
Icici Prudential Life In 452.05 0.22 1378019 2325330 60.8 Nifty 50 14359.45 -1.77 94773
United Spirits Limited 517.95 -0.21 1475111 1162542 58.48 Nifty Bank 31208.4 -2.4 94773
Dabur India Ltd. 569.2 -1.01 1876054 2146495 58.4 Nifty Media 1435.5 -2.64 94773
Hdfc Ltd. 2492.35 -3.17 3550890 1827639 58.33 Nifty Energy 17357.75 -2.71 94773
Hdfc Life Insurance Comp 665.95 -3.58 4936620 1590726 57.12 Nifty Auto 9532.15 -2.82 94773
Icici Lombard General In 1360.7 -3.98 1174639 470697 56.99 Nifty Realty 300.3 -4.07 94773

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

•FMCG firm Bajaj Consumer Care Ltd on Monday reported over two-fold growth in consolidated net profit at Rs 54.67 crore for the fourth quarter ended March 31, 2021. The company reported a net profit of Rs 23.29 crore for January-March period a year ago, Bajaj Consumer Care said in a regulatory filing. Its revenue from sale of goods was higher at Rs 244.86 crore as against Rs 172 crore in the year-ago period.

•Nestle Q1 preview: Increased in home-consumption, better demand from rural and urban India, sustainable growth in Maggi noodles and new products launches are some of the factors that analysts believe will drive growth for the fast-moving consumer goods (FMCG) maker Nestle India in the January – March quarter of 2021. Nestle, which is slated to report its results for the March quarter on April 20, could post up to 14 per cent year-on-year (YoY) rise in Q1 net profit, while revenues could increase between 5-11 per cent. The company follows January – December financial year.

•In a first, Indian Energy Exchange (IEX) commenced the Cross Border Electricity Trade (CBET) on its power trading platform. This would help the exchange expand its power markets beyond India to the South Asia region. The company said it will lead towards building an “integrated South Asian regional power market.”

•The second Covid wave has impacted the two-wheeler markets harder than the earlier one with sales declining by 30-50 per cent so far in April despite a mini festive season during the month, according to a report.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
5PAISA General;Quarterly Results 20-Apr-21 TCIIND General;Preferential Issue of shares 20-Apr-21
CHANDRIMA Audited Results 20-Apr-21 TV18BRDCST Audited Results 20-Apr-21
DHPIND General 20-Apr-21 WELINV Audited Results 20-Apr-21
INTENTECH ESOP;Issue Of Warrants 20-Apr-21 ARTSONEN Quarterly Results 21-Apr-21
NESTLEIND Interim Dividend;Quarterly Results 20-Apr-21 ISEC Audited Results;Final Dividend 21-Apr-21
NETWORK18 Audited Results 20-Apr-21 LXMIATO Consolidation of Shares 21-Apr-21
NIDL Audited Results 20-Apr-21 MJCO Audited Results;Quarterly Results 21-Apr-21
RSYSTEMINT A.G.M.;General 20-Apr-21 PHILIPCARB Audited Results 21-Apr-21
SRIND General 20-Apr-21 REVAORG A.G.M.;Audited Results;General 21-Apr-21
SWARAJENG Audited Results;Dividend 20-Apr-21 SAINDUS General 21-Apr-21
TATASTLLP Audited Results;Final Dividend 20-Apr-21 TATASTLBSL Audited Results 21-Apr-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ASHFL 22-Apr-21 E.G.M. EASEMYTRIP 27-Apr-21 Interim Dividend – Rs. – 2.00
CASTROLIND 22-Apr-21 Final Dividend – Rs. – 3.00 WAA 27-Apr-21 Bonus issue 1:1
MUTHOOTFIN 22-Apr-21 Interim Dividend – Rs. – 20.00 ZUARIGLOB 27-Apr-21 Interim Dividend – Rs. – 1.00
NGIL 22-Apr-21 E.G.M. ADL 29-Apr-21 E.G.M.
SWAGRUHA 23-Apr-21 E.G.M. ANGELBRKG 29-Apr-21 Interim Dividend
ELANTAS 26-Apr-21 Dividend – Rs. – 5.00 ARCHIDPLY 29-Apr-21 E.G.M.

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