OutlookNIFTY:

The Nifty opened at 14506.30 with a gap up of 182 points. The index first went down and recorded its intraday low at 14414.25. Prices then saw an upside move of almost 150 points and recorded its intraday high at 14572.90. Prices then spent the rest of the day trading choppy and narrow and finally closed at 14507.30 near its opening price with a gain of 182.40 points. All the sectoral indices have closed with gains led by Metal, Finanial and Auto. After two days of large movement the index traded very choppy and narrow. Prices have traded in a range of just 158 points. The index managed to hold onto its gains and closed a tad above 14500. Volatility has now cooled off completely and implied volatility is now back to normal. This suggests a process of consolidation is very near. Support is visible around 14200 while resistance at 14700. It is possible that the index may spend a few days inside these levels.

Short term trend remains on the downside. The long term trend is now down while long term momentum has entered the weak zone.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
GODREJCP 710.25 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 695 and for the target 730.
LICHSGFIN 419.80 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 414 and for the target 430

 

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
BHARTI AIRTEL 520 CE BUY 22.15 CMP 19 29 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
APLLTD.21.04 Apr 942.95 1.82 10176.92 734800 INDIGO.21.04 Apr 1617.15 -2.63 4962.32 3493000
PAGEIND.21.04 Apr 30240.05 3.56 9326.32 53730 UPL.21.04 Apr 593 -0.55 4127.48 19399900
SHREECEM.21.04 Apr 28379.3 3.04 8727.59 128000 PFIZER.21.04 Apr 4411.4 -0.04 3106.67 60125
JSWSTEEL.21.04 Apr 447.3 2.03 6226.13 33990300 EICHERMOT.21.04 Apr 2580.95 -0.02 2644.4 2401350
PIDILITIND.21.04 Apr 1812 2.83 5552.24 1893500 MPHASIS.21.04 Apr 1653.4 -0.82 2567.5 346775
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
FINNIFTYW.21.04 Apr 15822.95 2.17 -76.28 3520

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Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Vedanta Limited 226.85 1.96 16219649 19886405 65.68 Nifty Metal 3855.3 3.68 80610
Sbi Life Insurance Compa 873.95 1.14 1194885 1714275 63.22 Nifty Fmcg 33818.45 1.82 80610
Icici Lombard General In 1400 0.85 227045 318068 62.74 Nifty Realty 328.6 1.69 80610
Hindustan Unilever Ltd 2317.9 3.61 1929236 1515423 60.72 Nifty 50 14507.3 1.27 80610
Infosys Limited 1336.2 0.18 4922071 5246781 59.96 Nifty Auto 9771.5 1.24 80610
Piind 2272.75 -0.94 198453 145108 58.97 Nifty Bank 33318.2 0.94 80610
Hdfc Ltd. 2532.75 2.51 3272534 2734430 57.46 Nifty it 25385.1 0.59 80610
Godrej Cons Products Ltd 710.25 4.48 3079702 890087 57.25 Nifty Pharma 11883.2 0.56 80610
Petronet Lng Limited 224.05 1.49 3014213 2562192 57.1 Nifty Energy 18217.65 0.46 80610
Power Grid Corporation o 214.6 -0.83 14166489 6275324 55.03 Nifty Media 1544.5 0.06 80610

Upcoming Economic Data

   Domestic                                                                                                                                                  International
INR:  Federal Fiscal Deficit (Feb) on 31th  March, 2021

INR:  Infrastructure Output (YoY) (Feb) on 31st  March, 2021

•USD : CB Consumer Confidence (Mar) on 30th March, 2021

•USD:  Crude Oil Inventories on 31st March, 2021

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News Updates

•India’s electricity demand is expected to be higher year-on-year in the fourth quarter of the current fiscal, India Ratings and Research said in a report. This assumes importance as energy consumption, especially that of electricity and refinery products, is typically linked to overall demand in the economy. This also comes at a time when India’s gross domestic product (GDP) growth is estimate have been revised upwards by ratings agencies.

•The Supreme Court verdict will allow the Tata Group to better focus on its businesses and pursue growth strategies as key uncertainties relating to minority stakeholder, the Shapoorji Pallonji Group, have been addressed. Several key projects are now expected to be approved, said people with knowledge of the matter.

•The Narendra Modi-led government’s push towards privatisation—the strongest India has seen in many years—faced resistance from a number of key ministries within the administration, show hundreds of pages of correspondence exchanged over a seven-month period. Despite this pushback and a number of unresolved issues, Finance Minister Nirmala Sitharaman announced the new Public Sector Enterprise Policy in the Union Budget of 2021-22 presented on Feb. 1.

•India’s ethanol manufacturing capacity could rise threefold as the nation allowed production from feedstocks other than sugarcane and targets higher blending with petrol, according to biofuels maker Praj Industries Ltd.

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

Board Meetings

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BSELINFRA Voluntary Delisting of Shares;General 30-Mar-21 PULSRIN General 30-Mar-21
EVERESTO General 30-Mar-21 RAMAPHO Interim Dividend 30-Mar-21
GCKL Preferential Issue of shares;General 30-Mar-21 SHARDA General 30-Mar-21
INSECTICID Buy Back of Shares 30-Mar-21 SHREEPUSHK General 30-Mar-21
IRIS General 30-Mar-21 SOMATEX Voluntary Delisting of Shares 30-Mar-21
MAJESAUT General 30-Mar-21 STCINDIA General 30-Mar-21
MDRNTHR-B Quarterly Results 30-Mar-21 SUNCITYSY General 30-Mar-21
NARBADA General 30-Mar-21 TFL General 30-Mar-21
NIRAJ Quarterly Results 30-Mar-21 TOYAMIND General 30-Mar-21
OCTAL Voluntary Delisting of Shares;General 30-Mar-21 UDAYJEW General 30-Mar-21
OLPCL General 30-Mar-21 UNIAUTO General 30-Mar-21

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
AARTIDRUGS 30-Mar-21 Buy Back of Shares KDDL 30-Mar-21 Right Issue of Equity Shares
ACC 30-Mar-21 Final Dividend – Rs. – 14.00 SUNCLAYLTD 30-Mar-21 Interim Dividend – Rs. – 11.00
COLPAL 30-Mar-21 Interim Dividend – Rs. – 20.00 TVSMOTOR 30-Mar-21 Interim Dividend – Rs. – 1.40
CRISIL 30-Mar-21 Final Dividend – Rs. – 14.00 RAILTEL 31-Mar-21 Interim Dividend – Rs. – 1.00
EASTWEST 30-Mar-21 Bonus issue 1:4 SAREGAMA 05-Apr-21 Interim Dividend – Rs. – 20.00
EASTWEST 30-Mar-21 Stock  Split From Rs.10/- to Rs.2/- SBILIFE 05-Apr-21 Interim Dividend – Rs. – 2.50

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