OutlookNIFTY:

The Nifty opened at 14979 with a gap up of 115 points. The index moved further on the upside and recorded its intraday high at 15044.35. Prices did not sustain long enough above 15000 and fell down. A sharp decline of more than 200 points brought prices to 14814.45 which was also the intraday low. Prices have then moved up from that low. The rally also fizzled out and the index fell down again to close to 14894.90 with marginal gains of just 30.35 points. The Metal continued its outperformance and the sector ended with a gain of more than 4%. We were long in the Nifty around 14757. We have suggested a stop at 14750 and target at 14950. Markets opened in our favour with a gap up and prices settled around 15050. We have closed our long trade with a gain of 273 points.

A gap up opening did not sustain in the Nifty and prices have filled the gap completely. However some recovery in the afternoon helped index to close in a green zone. Yesterday’s intraday decline can be looked at a correction of the rally. The next buying opportunity comes close to 14700 levels.

BANK NIFTY:

Bank Nifty opened at 33901.60 with a gap up of 239 points. The index first moved up and recorded its intraday high at 34287. Prices then saw a sharp intraday fall to record its intraday low at 33304.60. The index traded very volatile and closed without much change. PSU Banks have underperformed and closed lower while Private Banks have performed well. Within the index, HDFC Bank contributed highest on the downside followed by ICICI Bank.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
BHARAT FORGE 604.70 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 595 and for the target 620
LALPATHLAB 2926.45 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 2880 and for the target 2990

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
SUNPHARMA 650 CE BUY 26.25 CMP 22 33 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
HINDALCO.21.04 Apr 369.2 1.83 35.18 16937700 MOTHERSUMI.21.04 Apr 218.85 -1.2 45.55 18564000
ONGC.21.04 Apr 104.65 0.67 23.94 26511100 PETRONET.21.04 Apr 235.35 -0.93 37.47 8376000
HINDUNILVR.21.04 Apr 2417.85 0.35 23.16 2747400 BAJAJ-AUTO.21.04 Apr 3806.55 -2.24 34.02 867750
ASIANPAINT.21.04 Apr 2614 0.02 17.88 1586400 HAVELLS.21.04 Apr 1006.2 -1.31 33.59 1583000
BHARATFORG.21.04 Apr 607.25 2.31 14.95 1903500 TECHM.21.04 Apr 970.3 -0.6 31.76 6531600
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
AARTIIND.21.04 Apr 1561.85 1.15 -43.27 84150 AMARAJABAT.21.04 Apr 800.35 -1.73 -48.77 479000
BIOCON.21.04 Apr 395.1 1.66 -39.65 4298700 IDFCFIRSTB.21.04 Apr 54.55 -0.27 -46.7 28709000
GODREJPROP.21.04 Apr 1384.9 2.11 -39.24 405600 NAM-INDIA.21.04 Apr 340.85 -0.31 -42.65 449600
BANKNIFTY.21.04 Apr 33712 0.05 -32.19 796625 CUMMINSIND.21.04 Apr 854.45 -3.13 -41.45 300000
AMBUJACEM.21.04 Apr 313.65 1.52 -29.29 2955000 GUJGASLTD.21.04 Apr 528 -2.49 -39.17 238750

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Petroleum Corp 229.7 -0.71 6138668 3244172 64.19 Nifty Metal 4855.3 4.53 95052
Nestleind 16502.55 -0.79 80207 54382 62.6 Nifty Energy 18063.1 0.4 95052
Petronet Lng Limited 234.85 -0.95 2231672 1656647 61.03 Nifty Pharma 13298.65 0.34 95052
Hdfc Bank Ltd. 1472.5 -0.29 12039276 7196647 59.71 Nifty 50 14894.9 0.2 95052
Infosys Limited 1356.35 0.03 5412357 2857134 58.56 Nifty Bank 33714.5 -0.02 95052
Colgate Palmolive (india 1485.8 -0.32 553504 274965 57.94 Nifty Realty 312.2 -0.08 95052
Pidilite Industries Ltd 1848.2 -1.84 327090 498049 57.15 Nifty Media 1553.55 -0.28 95052
Hcl Technologies Ltd. 909.55 -1.54 8588734 3890178 56.83 Nifty it 25874.3 -0.34 95052
Itc Ltd. 204.3 -0.58 13096755 7221020 56.82 Nifty Fmcg 34009 -0.35 95052
Alkem 2761.7 -0.47 201839 74808 56.63 Nifty Auto 9773.7 -0.99 95052

UPCOMING ECONOMIC DATA

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

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

•USD : ISM Manufacturing PMI (Apr) on 3rd May, 2021

•USD:  Trade Balance (Mar) on 4th May, 2021

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NEWS UPDATES

•Bajaj Auto on Thursday reported a 1.6 per cent year-on-year (YoY) growth in standalone net profit at Rs 1,332.07 crore for March quarter of FY21 (Q4FY21). The same was Rs 1,310.3 crore in the year-ago period. On a quarterly basis, the profit tumbled 14.4 per cent from Rs 1,556.3 crore. On a consolidated basis, the profit grew 14.5 per cent to Rs 1,551.28 crore from Rs 1,353.99 crore logged in March quarter of FY20. Rahul Bajaj resigned as chairman of Bajaj Auto.  Niraj Bajaj has been appointed as the chairman of the company with effect from May 1.

•InterMESH reported its March quarter earnings on Thursday in which the company’s consolidated net profit was up nearly 26% to ₹55.7 crore as compared to ₹44.3 crore year-on-year (YoY). The company’s revenue grew 5.64% at ₹179.70 crore against ₹170 crore in the same quarter last year.

•The Tata Group is finally on its way to making an entry into the Indian online grocery segment. The Competition Commission of India (CCI) today permitted Tata Digital to acquire a majority stake in online grocery player BigBasket.

•Reliance Industries Ltd.’s fourth-quarter earnings are expected to rise, aided by the improved performance of its oil-to-chemicals segment. Rising crude oil prices and higher petrochemical product demand is expected to contribute to higher refining and petrochemical margins. Net profit of India’s biggest company by market value is expected to jump by more than two times year-on-year to Rs 13,704 Crore.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AJANTPHARM Audited Results;Quarterly Results 30-Apr-21 PARAGMILK General 30-Apr-21
ATUL Audited Results;Final Dividend 30-Apr-21 RELIANCE Audited Results;Final Dividend 30-Apr-21
BANKINDIA General 30-Apr-21 RPGLIFE Audited Results 30-Apr-21
CANFINHOME Final Dividend;General;Results 30-Apr-21 SSPNFIN Audited Results;Half Yearly Results 30-Apr-21
INDHOTEL Audited Results;Final Dividend 30-Apr-21 SUPPETRO Audited Results;Final Dividend 30-Apr-21
INDIANACRY Audited Results;Quarterly Results 30-Apr-21 TCIDEVELOP Final Dividend;Quarterly Results 30-Apr-21
INDUSINDBK Audited Results;Final Dividend 30-Apr-21 TEEAI Quarterly Results 30-Apr-21
KINGSINFR General 30-Apr-21 TRENT Audited Results;Final Dividend 30-Apr-21
MARICO Audited Results 30-Apr-21 VENLONENT General 30-Apr-21
MRCEXIM Audited Results;Half Yearly Results 30-Apr-21 WALCHPF A.G.M.;Final Dividend;General;Results 30-Apr-21
NLCINDIA General 30-Apr-21 YESBANK Audited Results 30-Apr-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
QUICKHEAL 30-Apr-21 Buy Back of Shares ALLSEC 06-May-21 Interim Dividend
STOVACQ 03-May-21 Dividend – Rs. – 22.00 APTECHT 06-May-21 Dividend
GDL 04-May-21 Interim Dividend – Rs. – 5.00 EMBASSY 06-May-21 Income Distribution (InvIT)
LXMIATO 04-May-21 Consolidation of Shares PRIMEFRESH 06-May-21 Bonus issue 2:1
CRISIL 05-May-21 Interim Dividend – Rs. – 7.00 SRIND 06-May-21 E.G.M.
SALORAINTL 05-May-21 E.G.M. SEZAL 07-May-21 Resolution Plan -Suspension

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