Morning-OutlookNIFTY:

The Nifty opened at 14326.35 with a gap down of 80 points. The index first consolidated and then rallied to record its intraday high at 14461.15. The rally fizzled out around 14450 and then prices have fallen very sharply. Prices have broken down its morning low and its recorded its intraday at 14273.30. The index then spent the rest of the day trading sideways and finally closed at 14341.35 with a loss of 64.80 points. All the sectoral indices have closed with loss except the Media Sector. The Realty, FMCG, and IT sectors have led the bears. It was a volatile day where prices have seen sharp moves in both directions and finally closed below 14400. A large trading range with 14200 as support and 14700 as resistance remained intact. Short term trend is now again sideways.

The Nifty is now trading near its support. A shorting opportunity will emerge is the index closes below 14200. Also if the index holds the support we may get a buying opportunity. But if prices move up from current levels and reach near 14700 we will get trades on both sides depending on if the breakout happens or not.

BANK NIFTY:

Bank Nifty opened at 31490.60 with a gap down of 236 points. The index first moved lower and recorded its intraday low at 31377.15. Prices then saw a sharp intraday upside move to record its intraday high at 32148.40. The index did not sustain at the higher levels and fell down. PSU Banks have outperformed and closed with minor gains while Private Banks have underperformed and closed lower. Axis Bank contributed highest while ICICI Bank the lowest. Bank Nifty continued trading volatile. A trading range of 30500 and 32500 remained intact.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
VEDL 228 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 224 and for the target 234
BRITANNIA 3650.3 SELL The stock has given a breakdown from a narrow trading range. The stock can be sold at CMP with a stop at 3680 and for the target 3600.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
CADILLAHC 570 CE BUY 19.20 CMP 15 27 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
CADILAHC.21.04 Apr 572.3 3.6 9.44 13393600 TVSMOTOR.21.04 Apr 534.6 -0.11 9.74 4071200
SBILIFE.21.04 Apr 923.2 0.92 2.4 4680000 BRITANNIA.21.04 Apr 3647.15 -2.72 6.97 1842200
HDFCLIFE.21.04 Apr 688.75 1.2 0.47 9179500 M&M.21.04 Apr 779.85 -2.56 2.77 8115800
TITAN.21.04 Apr 1460.1 -1.66 2.45 5667000
GAIL.21.04 Apr 129.75 -2.52 1.38 47872800
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
BPCL.21.04 Apr 422.65 0.8 -19.67 36646200 LT.21.04 Apr 1325.1 -0.83 -25.34 10638075
TATASTEEL.21.04 Apr 925.35 0.19 -15.57 36060400 GRASIM.21.04 Apr 1280.45 -1.56 -22.57 7849850
INDUSINDBK.21.04 Apr 848.7 1.52 -13.72 15107400 JSWSTEEL.21.04 Apr 634.95 -0.84 -19.83 20228400
IRCTC.21.04 Apr 1709.45 2.25 -13.51 1111500 APOLLOTYRE.21.04 Apr 201.7 -1.08 -17.52 9695000
CUB.21.04 Apr 165.35 3.67 -12.11 5893100 SUNPHARMA.21.04 Apr 638.75 -0.14 -16.95 31511200

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Icici Lombard General In 1381.2 0.08 463636 313521 70.71 Nifty Energy 17537.7 0.96 2196768
Nippon Life India Asset 325.7 0.02 771352 525821 67.05 Nifty Media 1513.65 0.47 432558938
Tata Consultancy Serv Lt 3109.5 -0.3 1615309 1191717 59.92 Nifty Bank 31722.3 -0.19 20630550
Mphasis Limited 1696.5 3.27 606412 328524 59.35 Nifty Metal 4446.85 -0.31 146521509
Hdfc Ltd. 2497.35 0.71 3143779 2618593 58 Nifty Pharma 13319.75 -0.44 49015634
Dabur India Ltd. 559.95 -1.1 2408395 1453997 57.11 Nifty 50 14341.35 -0.45 45620245
Hdfc Asset Management Co 2822.4 1.4 256696 151178 56.93 Nifty Auto 9596.95 -0.49 68171330
Colgate Palmolive (india 1514.1 -0.09 440873 398231 56.58 Nifty it 25609.1 -0.84 1410198
Hdfc Life Insurance Comp 686.35 1.08 3140377 1418613 56.14 Nifty Fmcg 33726.1 -0.93 585563
Sbi Life Insurance Compa 922.85 0.92 3601606 1115678 56.1 Nifty Realty 301.8 -1.1 2147483500

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  Infrastructure Output (YoY) on 30th  April, 2021

INR:  Federal Fiscal Deficit (Mar) on 30nd  April, 2021

•USD : Core Durable Goods Orders (MoM) (Mar) on 26th April, 2021

•USD:  CB Consumer Confidence (Apr) on 27th April, 2021

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NEWS UPDATES

•ICICI Bank Ltd. saw its net profit rise sharply over a year ago as core income improved and provisions were lower compared to a year ago. The bank’s net profit rose 260.5%, year-on-year to Rs 4,402 crore. A year ago, the bank has stepped up provisions against standard assets, which had depressed profits. Net interest income, or core income, rose 16.8% from a year ago to Rs 10,431 crore for the bank. ICICI Bank’s gross non-performing asset (NPA) ratio stood at 4.96%, as compared with 5.42% in the October-December quarter. Net NPA ratio improved by 12 basis points on a sequential basis to 1.14% in the Jan-Mar quarter.

•Leading generic drug makers Lupin, Sun Pharma and Jubilant Cadista are recalling different products in the US, the world’s largest market for medicines, for different reasons. As per the latest Enforcement Report by the US Food and Drug Administration (USFDA), the US-based unit of Lupin is recalling 17,814 bottles of Cefprozil for Oral Suspension USP, a second-generation antibiotic used to treat ear infections, skin infections, and other bacterial infections.

•HCL Technologies fourth quater numbers were impacted by higer taxes and one-time bonus payment. The company reported a 64.9 per cent fall in its fourth quarter net profit at Rs 1,111 crore on a year-on-year basis. Profit was down 72 per cent on a sequential basis. The provision for tax nearly doubled sequentially in Q4 to Rs 1,191 crore.

•Mahindra and Mahindra Financial Services Ltd posted an eight per cent drop in consolidated net profit at Rs 219 crore in fourth quarter March 2021 (Q4FYF21).  The total income in Q4FY21 was down three per cent at Rs 3,038 crore from Rs 3,140 crore in Q4FY20.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ALOKTEXT Audited Results 26-Apr-21 ROSELABS Audited Results;Quarterly Results 26-Apr-21
ASAL Audited Results 26-Apr-21 SAGCEM Amalgamation 26-Apr-21
ASHAI General 26-Apr-21 SBICARD Audited Results 26-Apr-21
ASIANVE General 26-Apr-21 SCHAEFFLER Quarterly Results 26-Apr-21
BENARAS A.G.M.;Audited Results;Dividend 26-Apr-21 SETCO General 26-Apr-21
CASTROLIND Quarterly Results 26-Apr-21 SNOWMAN Audited Results 26-Apr-21
DELTACORP Audited Results;Final Dividend 26-Apr-21 SURAJLTD Audited Results 26-Apr-21
HDFCLIFE Audited Results;Final Dividend 26-Apr-21 TECHM Dividend;Quarterly Results 26-Apr-21
KEDIACN Audited Results 26-Apr-21 TTML Audited Results 26-Apr-21
NATIONSTD Audited Results 26-Apr-21 WELCURE Audited Results 26-Apr-21
POKARNA General 26-Apr-21 ABB Quarterly Results 27-Apr-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ELANTAS 26-Apr-21 Dividend – Rs. – 5.00 ARCHIDPLY 29-Apr-21 E.G.M.
EASEMYTRIP 27-Apr-21 Interim Dividend – Rs. – 2.00 HCLTECH 29-Apr-21 Interim Dividend – Rs. – 6.00
WAA 27-Apr-21 Bonus issue 1:1 HCLTECH 29-Apr-21 Special Dividend – Rs. – 10.00
ZUARIGLOB 27-Apr-21 Interim Dividend – Rs. – 1.00 ISHANCH 29-Apr-21 Interim Dividend – Rs. – 1.2500
ADL 29-Apr-21 E.G.M. NESTLEIND 29-Apr-21 Final Dividend – Rs. – 65.00
ANGELBRKG 29-Apr-21 Interim Dividend – Rs. – 7.50 NESTLEIND 29-Apr-21 Interim Dividend – Rs. – 25.00

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