outlook

NIFTY:

The NIFTY opened with a significant gap in anticipation of a press conference by the RBI. The Conference was held at 10 AM and the RBI governor gave a number of benefits and incentives on the monetary front.

Once the RBI governor had completed his conference, the NIFTY started to slow slide down. Just before the Govenor’s address, the NIFTY had touched 9000 a psychological number. But the index finally closed at 8660, lower than the highs of the day, but still with a gain of 18.8 points.

It is possible that the market is now developing a wide range and large trading range with support at 7500 and resistance at 8950. if this is so, then we will see a repeat of moves from 8950 zone to 7500 and then again from the 7500 to 8950.

These are tentative levels for the market. We have to see whether these levels are finally respected or new zone are created.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
     BANDHANBANK 249.55 BUY The stock has given the breakout with volume  on the intraday as well as on the daily chart. The stock can be bought at CMP with a stop loss of  224 and for the target of  275-290.
     SUNTV 286.90 SELL The immediate trend of the stock is weak . The stock can be sold  at CMP with a stop loss of  295 and for  the target of  270.

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
BAJFINANCE 2500 PE BUY 318.25 CMP 227 550 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
CIPLA.Apr 30 406.85 5.55 3243.21 9342600 HDFCLIFE.Apr 30 438.6 -8.06 8818.69 8588700
INFRATEL.Apr 30 158.1 1.44 3025.66 7064000 MGL.Apr 30 821.2 -4.67 3480.33 1310400
BANDHANBNK.Apr 30 246.95 14.28 2901.78 10122000 HCLTECH.Apr 30 434.6 -1.93 2277.03 19700800
AXISBANK.Apr 30 362.1 5.34 2310.01 44479200 M&MFIN.Apr 30 162.25 -0.61 2247.77 9278400
HAVELLS.Apr 30 514.2 4.4 2219.02 4754000 LUPIN.Apr 30 552.25 -0.86 1747.72 5096000
                                                                        Short Covering                                                                              Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
JINDALSTEL.Apr 30 89.7 1.01 -68.03 4940000 PVR.Apr 30 1227.9 -4.81 -50.13 677200

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Ambuja Cements Ltd 141.55 -1.74 7706575 10213168 70.88 Nifty Bank 19969 1.81 22856566
HCL Technologies Ltd. 430.65 -3.81 9151132 6559488 69.01 Nifty Metal 1554.85 0.77 2.98E+08
Petronet LNG Limited 193.45 1.79 4371887 4252872 68.26 Nifty Pharma 6813.05 0.56 68051048
COALINDIA 131.7 6.86 18334750 18236069 64.29 Nifty IT 12569.1 0.27 2170026
Godrej Cons Products Ltd 499.45 -0.22 2579284 2115017 59.11 Nifty FMCG 25740.45 0.24 970123
TATA CONSULTANCY SERV LT 1824.5 1.87 4331310 2650292 58.17 Nifty 50 8660.25 0.22 53212553
HDFC Ltd. 1754 1.2 9048464 6942634 57.36 Nifty Energy 10626.3 -0.14 3220562
ITC Ltd. 163.2 4.35 32636891 33043590 56.54 Nifty Media 1055.4 -1.13 4.35E+08
VODAFONE IDEA LIMITED 3.2 -1.54 1.06E+08 81040317 56.47 INDIA VIX 70.39 -1.59 65847952
GODREJPROP 690.45 -0.8 321435 121906 55.83 Nifty Auto 4938.7 -2.42 92065780

Upcoming Economic Data

   Domestic                                                                                                                                                  International
•INR:  Federal Fiscal Deficit (Feb) on 31st March ,2020

•INR:  Infrastructure Output (YoY) (Feb) on 31st March, 2020

•USA: Pending Home Sales (MoM) (Feb) on 30th  March , 2020

•USA: ISM Manufacturing PMI (Mar) on 1st April, 2020

News Updates

•Tata Motors Ltd., the Indian owner of Jaguar Land Rover, plans to separate its cars business from trucks and buses, as the company seeks partners for a unit slammed by the coronavirus outbreak and a global shift to electric vehicles. Car sales in India fell for a 16th consecutive month in February, and that’s set to continue as the virus outbreak limits travel nationwide, and financing new vehicl vehicles becomes difficult.

•State-owned Union Bank of India, which is amalgamating Andhra Bank and Corporation Bank with it, hopes to reap cost benefits of over Rs 2,500 crore through rationalisation of branches and savings on technology on the combined entity. The combined entity will have 9,500 branches and 12,000 ATMs across the country.

•County’s banking behemoth the State Bank of India raised $100 million via dedicated bonds despite challenges in global financial markets, charred by COVID19 outbreak. The transaction reinforces that investors still bet on sovereign-backed issuances from emerging markets like India. “It is an extremely important transaction for India especially in this critical situation,” said Rajnish Kumar, Chairman, SBI. We believe this issuance will reassure confidence in India’s strength in the international bond market.

•Sun Pharmaceuticals Industries Ltd (Sun Pharma) on Sunday said that its Halol plant in Gujarat has been classified as ‘Official Action Indicated’ (OAI) by the United States Food .

Source: Economic Times,  Moneycontrol  ,Business Today, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name5 Purpose Ex-Date Company Name Purpose Ex-Date
BHATIA General 30-Mar-20 PENTAGRAPH General 31-Mar-20
EMAMIPAP General 30-Mar-20 VIRGOGLOB General 31-Mar-20
MEHSECU General 30-Mar-20 HINDUNILVR Scheme of Arrangement 1-Apr-20
MEHTAHG General 30-Mar-20 INDAGIV General 2-Apr-20
MISHTANN General 30-Mar-20 APLAB General 8-Apr-20
PALMJEWELS General 30-Mar-20 FRANKLININD General;Scheme of Arrangement 15-Apr-20
FLORACORP General 31-Mar-20 KANSAFB Reduction of Capital;General 15-Apr-20
MINDAIND Rights Issue;General 31-Mar-20 QUANTBUILD General 15-Apr-20

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
HEXAWARE 30-Mar-20 Final Dividend – Rs. – 2.50 CASTROLIND 22-Apr-20 Final Dividend – Rs. – 3.00
JUNCTION 30-Mar-20 Bonus issue 1:2 VESUVIUS 22-Apr-20 Final Dividend – Rs. – 8.74
CRISIL 31-Mar-20 Final Dividend – Rs. – 13.00 KSB 23-Apr-20 Dividend – Rs. – 8.00
NACLIND 31-Mar-20 Interim Dividend – Rs. – 0.10 TAHL 23-Apr-20 Bonus issue 1:4
TIPSINDLTD 31-Mar-20 Buy Back of Shares MADHAVIPL 27-Apr-20 Stock  Split From Rs.10/- to Rs.1/-
AMBUJACEM 3-Apr-20 Final Dividend – Rs. – 1.50 ABB 5-May-20 Dividend – Rs. – 4.80
IRCON 3-Apr-20 Stock  Split From Rs.10/- to Rs.2/- NESTLEIND 14-May-20 Final Dividend – Rs. – 61.00

DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

Elite Wealth Advisors Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Advisors Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more


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