Morning-OutlookNIFTY:

The Nifty opened at 14526.70 with a big gap up of 167 points. Prices have recorded its intraday high almost at the same level and started moving downwards. The decline continued for the whole day and prices have recorded its intraday low at 14207.30. The index has seen a  minor correction in the last 30 minutes of trading and finally closed at 14296.40 with a loss of 63.05 points. The IT sector has seen an underperformance while Media and Pharma have seen decent gains. The Nifty traded in a wide range. A gap up opening did not sustain and prices have seen a sharp intraday fall to end below 14300. It was a trend day on the downside. Bears had the upper hand as they brought pries almost 300 points lower from their intraday high. A strong support zone of 14300 has broken on the downside and prices have ended just below this support zone. This breakdown suggests more lower levels are ahead.

The short term trend is down. We should look to short if prices break below 14200, keep a stop of 110 points and a target of 200 points.

BANK NIFTY:

Bank Nifty opened at 31568.95 with a gap up of 362 points. Prices have continued moving higher for the first few minutes of trading  and recorded its intraday high at 31731.65. The index then saw a sharp downside for the whole day, recorded its intraday low at 30891 and finally closed at 31112.70.

PSU and Private banks both have seen a minor decline and closed lower. Within the index, Axis Bank contributed highest while HDFC Bank the lowest. It was a trend day on the downside. Prices have seen an intraday decline of more than 800 points.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
PIIND 2542 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 2490 and for the target 2700.
GRASIM 1291.90 SELL The stock has given a breakdown from a narrow trading range. The stock can be sold at CMP with a stop at 1310 and for the target 1260.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
MARUTI 6600 CE BUY 152 CMP 115 220 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ICICIPRULI.21.04 Apr 478.25 5.63 28.71 10603500 ACC.21.04 Apr 1817.1 -3.5 11.6 3554000
PVR.21.04 Apr 1042.4 4.39 19.84 2340657 AMBUJACEM.21.04 Apr 294 -2.42 11.3 17640000
PFIZER.21.04 Apr 5516.95 3.11 17.63 249375 TITAN.21.04 Apr 1518 -0.05 8.14 5649000
AARTIIND.21.04 Apr 1428.35 1.85 14.39 462825 HDFCBANK.21.04 Apr 1390.25 -1.61 8.1 31136600
BAJAJFINSV.21.04 Apr 9808.1 3.18 11.07 643500 HCLTECH.21.04 Apr 959.5 -3.41 7.97 19094600
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
M&MFIN.21.04 Apr 170.4 2.62 -7.72 15532000 FINNIFTYW.21.04 Apr 14890.7 -0.91 -91.67 1320
PIIND.21.04 Apr 2574 3.6 -6.24 402250 MINDTREE.21.04 Apr 2037.45 -2.98 -7.15 2294400
CADILAHC.21.04 Apr 555.5 5.17 -2.73 13941400 RAMCOCEM.21.04 Apr 965.25 -1.96 -5.42 1660050
IGL.21.04 Apr 503.1 0.82 -2.43 4809750 MPHASIS.21.04 Apr 1665 -2.35 -5.39 707525
PNB.21.04 Apr 33.65 1.2 -2.4 192144000 DEEPAKNTR.21.04 Apr 1556.7 -0.36 -4.72 1020000

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Colgate Palmolive (india 1521.8 -0.92 429114 496196 59.98 Nifty Media 1479.3 3.05 87339
Hindustan Unilever Ltd 2397.45 -1.61 1589508 1047352 59.97 Nifty Pharma 13426.9 1.29 87339
Sbi Life Insurance Compa 898.95 -0.81 3593124 947117 59.93 Nifty Auto 9630.7 1.03 87339
Larsen & Toubro Limited 1331.5 1.61 2989204 2439476 58.68 Nifty Metal 4384.4 0.42 87339
City Union Bank Ltd. 158.3 0.19 1088175 1226391 58.08 Nifty Realty 301.25 0.32 87339
Hdfc Life Insurance Comp 685.2 2.89 5373233 2774896 56.21 Nifty Energy 17342 -0.09 87339
Petronet Lng Limited 219.85 2.26 3392176 1884853 56.21 Nifty Bank 31112.7 -0.31 87339
Pidilite Industries Ltd 1773.1 0.14 423329 247395 53.56 Nifty 50 14296.4 -0.44 87339
Icici Lombard General In 1399 2.81 928686 623256 53.06 Nifty Fmcg 34296.5 -0.64 87339
Kotak Mahindra Bank Limi 1697.7 -0.18 3317008 2045696 52.92 Nifty it 25877.6 -1.37 87339

UPCOMING ECONOMIC DATA

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

INR:  Bank Loan Growth on 23nd  April, 2021

•USD : Existing Home Sales (Mar) on 22nd April, 2021

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

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NEWS UPDATES

•One of Asia’s life insurance giants, Life Insurance Corporation of India (LIC) closed last fiscal with a new business premium or first year premium of Rs 1.84 trillion, the company said. The insurer also paid Rs.1.34 trillion as claims last fiscal. According to LIC, it earned a new business or first year premium of about Rs 1.84 trillion last fiscal up from about Rs 1.77 trillion earned the previous year.

•Media firm TV18 Broadcast Ltd NSE 0.55 % on Tuesday reported a 77.03 per cent increase in its consolidated net profit to Rs 251.08 crore for the fourth quarter ended in March 2021. The company had posted a net profit of Rs 141.83 crore for the January-March period of the previous fiscal, TV18 Broadcast said in a regulatory filing.

•Swaraj Engines (SEL) achieved its highest ever quarterly profit during Q4 of fiscal 2021. SEL achieved its ever best Q4 engine sales of 33,831 units by registering a growth of 62.4% over same period last year’s sale of 20,827 units. The board, while approving the annual accounts, recommended an equity dividend of Rs 50 per share for the financial year ended 31 March 2021. Further, the board, over and above the said normal dividend, has recommended a special dividend payment of Rs 19 per share, taking the total dividend to Rs 69 per share for FY 2020-21.

•Net profit of Tata Steel Long Products reported to Rs 339.86 crore in the quarter ended March 2021 as against net loss of Rs 133.23 crore during the previous quarter ended March 2020. Sales rose 53.40% to Rs 1546.74 crore in the quarter ended March 2021 as against Rs 1008.30 crore during the previous quarter ended March 2020.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AMAL Audited Results 22-Apr-21 RALLIS Audited Results;Final Dividend 22-Apr-21
ANGELBRKG Interim Dividend 22-Apr-21 RAWEDGE Bonus issue;In. in Authorised Capital 22-Apr-21
CTL General 22-Apr-21 RISHDIGA General 22-Apr-21
CYIENT Audited Results;Final Dividend 22-Apr-21 SASKEN Audited Results;Final Dividend;General 22-Apr-21
FCL Audited Results;Final Dividend 22-Apr-21 SUPRAP General 22-Apr-21
FILATEX Audited Results;Final Dividend 22-Apr-21 TATAELXSI Audited Results;Final Dividend 22-Apr-21
HINDBIO Audited Results 22-Apr-21 VISAKAIND Audited Results;Final Dividend 22-Apr-21
INDBANK Audited Results;General 22-Apr-21 ADROITINFO Reduction of Capital 23-Apr-21
INDBNK Audited Results;General 22-Apr-21 ANMOL Preferential Issue of shares;General 23-Apr-21
INDSOYA General 22-Apr-21 BIRLAMONEY Quarterly Results;Audited Results 23-Apr-21
INDUSTOWER Audited Results 22-Apr-21 BOMBWIR Audited Results 23-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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