Morning-OutlookNIFTY:

The Nifty opened at 14449.45 with a gap up of 108 points. The index recorded its intraday low at 14421.30 within the first five minutes of trading and then started moving higher. Prices have rallied more than 100 points from the opening tick, recorded its intraday high at 14557.50, and then started moving sideways and choppy. The index slowly moved down for the rest of the day and finally closed at 14485. All the sectoral indices have closed with gains except the Pharma sector. The realty, Bank and Financials sectors have led the bulls. It was a choppy day where prices have closed with gains. The index opened with a gap up and somewhat managed to maintain the gains for the whole day. The immediate trend of the market is sideways. We should focus on intraday trades for now.

For today, we should wait for the first 45 minutes of trading. That means we should take trade after 10:00 AM. Buy above the high or sell below the low recorded in the first 45 minutes. Keep a stop of 55 points and a target of 90 points. Take only one trade whichever executes first.

BANK NIFTY:

Bank Nifty opened at 32316.65 with a gap up of 691 points. The index recorded its intraday low at 32144.80 and then rallied to record its intraday high at 32603.70. However the index then saw a mild decline for the rest of the day and finally closed at 32271.20 with a gain of 646 points. Private and PSU banks both have performed same and closed with a gain of more than 1.50%. Within the index, in terms of points ICICI Bank contributed highest while HDFC Bank the lowest. A big gap up helped the index to close above 32000. The index traded very choppy intraday and somehow managed to hold onto its early morning gains. Prices have faced resistance around 32500.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
POWERGRID 215.80 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 210 and for the target 222.
COFORGE 2808.10 SELL The stock has given a breakdown from a narrow trading range. The stock can be sold at CMP with a stop at 2865 and for the target 2730

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
RBLBANK 185 CE BUY 3.90 CMP 2 7 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
LT.21.04 Apr 1338 0.97 15.73 12311900 HAVELLS.21.04 Apr 1002.3 -0.5 19.16 5236000
SBILIFE.21.04 Apr 939 1.71 14.94 5379000 SRTRANSFIN.21.04 Apr 1344.1 -2.62 17.79 4063200
MINDTREE.21.04 Apr 2064.5 2.14 14.44 2472800 MARICO.21.04 Apr 406.15 -1.47 15.54 8266000
ICICIGI.21.04 Apr 1450 4.72 13.5 1211675 M&MFIN.21.04 Apr 162.5 -9.32 14.96 17148000
INDUSINDBK.21.04 Apr 860.4 1.38 13.49 17145000 MUTHOOTFIN.21.04 Apr 1177.85 -1.87 13.87 3016500
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
BHEL.21.04 Apr 46.15 1.88 -18.41 71547000 INDUSTOWER.21.04 Apr 248.65 -1.51 -7.46 10558800
CUMMINSIND.21.04 Apr 877.1 2.98 -12.51 1292400 ZEEL.21.04 Apr 187.15 -0.51 -6.18 51654000
BOSCHLTD.21.04 Apr 13537.75 0.07 -10.39 77650 LALPATHLAB.21.04 Apr 2837.7 -1.89 -4.74 402000
LICHSGFIN.21.04 Apr 397.6 1.38 -8.92 5330000 GRANULES.21.04 Apr 325 -1.41 -4.27 4967750
HEROMOTOCO.21.04 Apr 2874.9 0.24 -7.84 3228900 AUROPHARMA.21.04 Apr 970.25 -2.39 -3.91 8233550

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Unilever Ltd 2360.65 2.29 1946867 1228975 63.03 Nifty Realty 312.05 3.4 99885
Icici Lombard General In 1451.6 5.1 1698950 285006 61.47 Nifty Metal 4536.3 2.01 99885
Petronet Lng Limited 238.05 1.21 4246146 3853849 61.14 Nifty Bank 32275.15 1.74 99885
Bharat Petroleum Ltd 418.9 -0.98 6444098 13723192 57.56 Nifty 50 14485 1 99885
Hindustan Petroleum Corp 232.5 -0.51 6247178 2406802 56.92 Nifty Energy 17675 0.78 99885
Dabur India Ltd. 541.3 -3.33 3121274 1367382 56.78 Nifty Auto 9641.45 0.46 99885
Infosys Limited 1343.55 0.73 7088606 4123289 56.36 Nifty Fmcg 33865.7 0.41 99885
Nippon Life India Asset 330.7 1.54 1342265 432395 56.06 Nifty it 25680.3 0.28 99885
United Breweries Limited 1143.25 0.21 650339 260468 52.5 Nifty Media 1516.05 0.16 99885
Page Industries Limited 30282.7 3.97 72653 20231 52.23 Nifty Pharma 13203.85 -0.87 99885

UPCOMING ECONOMIC DATA

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

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

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

•USD:  Fed Interest Decision on 28th April, 2021

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NEWS UPDATES

•Tech Mahindra announced net profit at Rs 1,081 crore for the fourth quarter ended March 31, 2021, up 34.6 per cent year-on-year basis, but was down sequentially by 17.4 per cent. Revenue for the quarter was up 2.5 per cent YoY to Rs 9,730 crore, but grew a mere 0.9 per cent compared to the preceding quarter ended December 31, 2020. The company also announced the acquisition of Eventus Solutions Group, a consulting and technology service company, headquartered in the US for $44 million.

•HDFC Life on a standalone level reported a 2 per cent jump in net profit to Rs 317.94 crore in the March quarter of FY21, from Rs 311.71 crore in the same period last year.The insurer saw a 23 per cent rise in net premium in Q4FY21 to Rs 12,868.01 crore from Rs 10,464.46 crore a year ago. Its investment income of Rs 6,051.42 crore in the fourth quarter was down almost 50 per cent sequentially. HDFC Life has a Covid reserve of Rs 165 crore for FY22 on its balance sheet for potential adverse mortality experience.

•SBI Cards and Payment Services Ltd on Monday reported a profit after tax of ₹175 crore in the January to March quarter, up 110% from ₹84 crore in the corresponding period of previous fiscal.

•The Reserve Bank of India has capped tenure of managing directors, chief executive officers and whole-time directors of private lenders and small finance banks at 15 years from the date of first appointment. For chief executives who are part of the promoter group or large shareholders, the tenure will be capped at 12 years. The rules will be effective from October 2021. However, bank CEOs will be allowed to complete their current tenure, the regulator said.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ABB Quarterly Results 27-Apr-21 NAM-INDIA Final Dividend;Audited Results 27-Apr-21
AXISBANK Audited Results 27-Apr-21 PNBHOUSING Final Dividend;Audited Results 27-Apr-21
BAJFINANCE Audited Results;Final Dividend 27-Apr-21 PRISMMEDI Audited Results;General 27-Apr-21
BRITANNIA Audited Results;Quarterly Results 27-Apr-21 SANOFI Quarterly Results 27-Apr-21
COCHMAL Audited Results 27-Apr-21 SYMPHONY Audited Results;Final Dividend 27-Apr-21
GDL Interim Dividend;Audited Results 27-Apr-21 SYNGENE Final Dividend;Audited Results 27-Apr-21
HATSUN Audited Results;General 27-Apr-21 TATAINVEST Audited Results;Dividend 27-Apr-21
HDFCAMC Dividend;Audited Results 27-Apr-21 TVSMOTOR Audited Results 27-Apr-21
HINDZINC Audited Results 27-Apr-21 UBL Audited Results;Dividend 27-Apr-21
MARUTI Audited Results 27-Apr-21 VESUVIUS Quarterly Results 27-Apr-21
MOSCHIP Audited Results 27-Apr-21 VSTIND Audited Results;Dividend 27-Apr-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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
ARCHIDPLY 29-Apr-21 E.G.M. QUICKHEAL 30-Apr-21 Buy Back of Shares

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