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 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.

Trade AnyTime AnyWhere With Elite Empower Mobile App



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

Get All Your Mutual Fund Portfolio Retuns on Your Mobile by Elite Kuber App



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

Get Stock Market Recommendation By Our Research Analysts



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


   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

Open Your Demat Account to Invest in Upcoming IPO’sDemat-and-Trading-Account-Promotion-Banner


•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


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


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.

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 e-mailing 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, advisory 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 Advisory 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 Advisory or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL Advisory 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 Advisory 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 Advisory or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL Advisory or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL Advisory 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 Advisory 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 Advisory 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 Advisory 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 Advisory
Provided that research analyst or research entity shall not be required to make a disclosure as per sub-clauses (c), (d) and (e) of clause (ii) or sub-clauses (a) and (b) of clause (iii) to the extent such disclosure would reveal material non-public information regarding specific potential future investment banking or merchant banking or brokerage services transactions of the subject company.
(4) EWL Advisory or its proprietor has never served as an officer, director or employee of the subject company;
(5) EWL Advisory has never been engaged in market making activity for the subject company;
(6) EWL Advisory shall provide all other disclosures in research report and public appearance as specified by the Board under any other regulations.