Morning-OutlookNIFTY:

The Nifty opened at 14710.50 with a gap up of 57 points. The index recorded its intraday low at 14694.95 within the first five minutes of trading and then started moving up. Prices have rallied almost 200 points from the intraday low, recorded its intraday high at 14890.25 and finally closed at 14864.55 with a gain of 211.50 points. The Metal, Pharma and Realty have underperformed and closed lower. All the other sectoral indices have seen a rally and closed higher. We had suggested a long trade. The trade was to buy above 14700. We went long above the first 15 minutes high at 14757. Prices have neither touched the stop nor the target. Stay long with a stop at 14750 and a target at 14950. Back to back trend days on the upside took the Nifty above 14700 resistance and the index closed well above that level. A large trading range inside 14200-14700 has broken decisively on the upside. Short term trend has changed to the upside.

The index has rallied from 14200 support to the high recorded around 14900. This 700 points rally should see a correction soon. Today is the monthly expiry we so we may see some choppy trading. Wait for a dip to buy.

BANK NIFTY:

Bank Nifty opened at 32865.50 with a gap up of 105 points. The index recorded its intraday low at 32840.30 in its initial trade and then started moving up. Prices continued that bullish momentum and finally closed at 33722. Private and PSU Banks both have performed  well and closed higher by more than 2.50%. Within the index, ICICI Bank contributed highest followed by HDFC Bank.

It was a trend day on the upside where prices have recorded its intraday low near the opening tick and intraday high near the closing.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
L&TFH 91.85 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 90 and for the target 95.30
APOLLOTYRE 212.75 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 209 and for the target 217

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
MANAPPURAM 147.5 CE BUY 2 CMP .5 6 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
KOTAKBANK.21.04 Apr 1814.1 3.59 29.19 8021600 JUBLFOOD.21.04 Apr 2922.1 -0.97 23.7 897750
PIDILITIND.21.04 Apr 1875.05 2.24 27.87 1245500 SRF.21.04 Apr 6375 -1.2 17.22 262125
NTPC.21.04 Apr 103.65 1.47 24.88 58539000 BIOCON.21.04 Apr 387.4 -2.63 16.31 10872100
MARICO.21.04 Apr 410.1 0.42 19.84 2912000 LT.21.04 Apr 1377.15 -0.12 13.72 4589650
ICICIBANK.21.04 Apr 618.25 3.47 19.1 43239625 APOLLOHOSP.21.04 Apr 3190.25 -0.27 10.6 1215500
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
NAM-INDIA.21.04 Apr 343.65 0.64 -28.05 1124800 GMRINFRA.21.04 Apr 22.95 -1.29 -35.43 75622500
LALPATHLAB.21.04 Apr 2864.9 1.42 -25.54 215000 CUMMINSIND.21.04 Apr 881.85 -1.63 -30.53 565200
BAJAJFINSV.21.04 Apr 10505.5 3.82 -21.31 362875 AARTIIND.21.04 Apr 1548.95 -1.07 -29.65 170425
BOSCHLTD.21.04 Apr 13795.05 1.42 -21.02 47900 GUJGASLTD.21.04 Apr 535 -1.87 -23.24 408750
RBLBANK.21.04 Apr 192.5 3.05 -20.99 7444300 MUTHOOTFIN.21.04 Apr 1179.05 -0.08 -20.8 1011000

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Unilever Ltd 2406.55 1.12 1951215 1089882 65.32 Nifty Bank 33722.8 3.02 99117
Petronet Lng Limited 237.1 -0.92 2714344 1896656 64.47 Nifty Auto 9871.5 1.68 99117
Colgate Palmolive (india 1490.6 -0.3 474599 290824 62.74 Nifty 50 14864.55 1.44 99117
L&t Technology Services 2624.4 1.22 207582 132950 60.03 Nifty Media 1557.95 1.05 99117
Larsen & Toubro Infotech 3890.85 -0.48 297881 90970 58.03 Nifty Energy 17990.6 0.62 99117
Tata Consultancy Serv Lt 3124.1 -0.25 1639037 849767 57.75 Nifty it 25962.1 0.57 99117
Havells India Limited 1019.85 -0.84 844145 721067 57.45 Nifty Fmcg 34129.15 0.35 99117
Godrej Cons Products Ltd 711.8 1.37 606306 357072 56.96 Nifty Metal 4645.05 -0.3 99117
Sbi Life Insurance Compa 930.4 0.18 1904945 1069722 55.51 Nifty Pharma 13252.95 -0.33 99117
Hdfc Bank Ltd. 1476.8 2.65 12051970 5650216 54.88 Nifty Realty 312.45 -0.59 99117

UPCOMING ECONOMIC DATA

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

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

•USD : GDP (QoQ) (Q1) on 29th April, 2021

•USD:  Initial Jobless Claims on 29th April, 2021

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NEWS UPDATES

•Bajaj Finserv Ltd (BFL) on Wednesday reported over four-fold jump in its consolidated net profit to Rs 979 crore for the fourth quarter ended in March 2021, driven by its insurance business. The company had posted a net profit of Rs 194 crore during the corresponding January-March period of 2019-20. The total consolidated income during the March 2021 quarter increased to Rs 15,387 crore as against Rs 13,294 crore in the corresponding period of the previous financial year, BFL said in a regulatory filing.

•Hero MotoCorp on Wednesday announced the price list for the Harley Davidson Model Year 2021 motorcycles in India. Harley Davidson Road Glide Special, the most expensive of the bunch, will be available for Rs 34,99,000 (ex-showroom).

•Auto giant Maruti Suzuki has decided to shut down factories in Haryana and Gujarat to make oxygen available for medical needs. In light of this, Maruti has decided to advance its bi-annual maintenance shutdown from May 1-9, the company said.

•Morepen Laboratories said on April 28 that its board of directors approved an investment of $32.50 million from Switzerland-based Corinth Group as part of the private investment firm’s proposed $100 million investment in the Morepen Group. The investment is subject to the approval of shareholders and other regulatory bodies. Corinth would be allotted 58.50 million new equity shares on a preferential basis. This shareholding would amount to a 9.41 percent equity stake in the company on a fully expanded capital base. The remaining $67.50 million would be in the promoter group companies.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
HESTERBIO General 29-Apr-20 HINDUNILVR Final Dividend;General;Results 30-Apr-20
HEXAWARE Quarterly Results 29-Apr-20 JUSTDIAL Buy Back of Shares;General 30-Apr-20
KANCHI General 29-Apr-20 LAURUSLABS Stock  Split;Final Dividend;Results 30-Apr-20
NXTDIGITAL General 29-Apr-20 PNBGILTS General 30-Apr-20
VTMLTD General 29-Apr-20 POWERINDIA Quarterly Results 30-Apr-20
APOLLOTRI General;Audited Results 30-Apr-20 RELIANCE Right Issue;Audited Results;Dividend 30-Apr-20
BIRLAMONEY General;Audited Results 30-Apr-20 SIS Quarterly Results;Audited Results 30-Apr-20
BLUESTARCO General 30-Apr-20 SUNCLAYLTD General 30-Apr-20
DECNGOLD General 30-Apr-20 TECHM Results;Final Dividend;Dividend 30-Apr-20
ECOM Quarterly Results;Audited Results 30-Apr-20 WALCHPF Audited Results;A.G.M.;Dividend 30-Apr-20
FLFL General 30-Apr-20 XTGLOBAL Audited Results;Scheme of Arrangement 30-Apr-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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
HCLTECH 29-Apr-21 Interim Dividend – Rs. – 6.00 STOVACQ 03-May-21 Dividend – Rs. – 22.00
HCLTECH 29-Apr-21 Special Dividend – Rs. – 10.00 GDL 04-May-21 Interim Dividend – Rs. – 5.00
ISHANCH 29-Apr-21 Interim Dividend – Rs. – 1.2500 LXMIATO 04-May-21 Consolidation of Shares

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