OutlookNIFTY:

The Nifty opened at 14737 with a gap up of 100 points. Within the first 5 minutes of trading, the index moved down sharply and recorded its intraday low at 14573.90. Prices then quickly recovered from that loss, rallied more than 200 points and recorded its intraday high at 14779.10 and then again fell down more than 150 points. That was the first half and in the second half prices have remained subdued with a little movement on either side and finally closed at 14683.50 with a gain of almost 50 points. All the sectoral indices have closed with gains except Banks and Media led by the Pharma, Metal and Realty sectors. It was a volatile day in the index where prices have seen some wild movement on both sides and finally closed with minor gains. On the daily chart, the index is building two patterns, one is a bullish Head & Shoulder and second is a trading range. A bullish head and shoulder is visible in the Nifty with a neckline around 14900. If prices confirm this pattern it will give us a target of around 15500. A move below 14450 will cancel this pattern. The Nifty is trading inside a range of 500 points with support at 14400 and resistance at 14900. A breakout from either direction may give a pattern target of 500 points.

BANK NIFTY:

Bank Nifty opened at 32915.65 with a gap up of 201 points. The index did not sustain at the higher level and saw a sharp fall and then quickly recovered from it.  Again a sharp decline came and then prices spent the second half moving narrow and choppy. The index finally closed at 32501. Private Banks have underperformed and closed lower while PSU Banks have closed with minor loss. Within the index,Kotak Bank contributed highest while ICICI Bank the lowest.

It was a volatile day in the index. Prices have seen many sharp moves in the first half while remained subdue in the second half.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
AURO PHARMA 892.80 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 880 and for the target 920
PIIND 2306.35 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 2265 and for the target 2380.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
SBILIFE 900 CE BUY 23.55 CMP 16 38 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
NAVINFLUOR.21.04 Apr 2960 7.44 41.61 281025 TRENT.21.04 Apr 706.1 -3.48 16.76 1166525
SRF.21.04 Apr 6150 8.2 36.23 494500 MGL.21.04 Apr 1102.55 -3.03 16.62 1545000
LALPATHLAB.21.04 Apr 3045.95 5.57 24.09 306500 SIEMENS.21.04 Apr 1801.8 -1.88 16.15 787050
DEEPAKNTR.21.04 Apr 1674 3.05 21.18 1027000 UBL.21.04 Apr 1117.9 -2.79 15.02 1276100
GLENMARK.21.04 Apr 512.5 6.44 15.41 6975900 POWERGRID.21.04 Apr 210.9 -2.09 12.11 20660000
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
RAMCOCEM.21.04 Apr 1046.45 3 -6.15 1530000 FINNIFTYW.21.04 Apr 15445.4 -0.2 -74.31 3360
MUTHOOTFIN.21.04 Apr 1210.9 2.18 -4.55 2563500 AUBANK.21.04 Apr 1223.25 -0.33 -1.17 2366000
APOLLOHOSP.21.04 Apr 3007.15 2.43 -3.13 1838500 IGL.21.04 Apr 504.8 -0.66 -0.96 5812125
LICHSGFIN.21.04 Apr 422.5 0.55 -2.98 6124000 SHREECEM.21.04 Apr 30348 -0.27 -0.54 146250
L&TFH.21.04 Apr 96.7 0.94 -2.64 26968328 BANKNIFTY.21.04 Apr 32725 -0.28 -0.37 2013975

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Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Icici Lombard General In 1426.95 1.16 171421 543923 74.41 Nifty Pharma 12548.6 1.76 84309
Hindustan Unilever Ltd 2408.3 1.48 3683538 1826014 71.74 Nifty Metal 4286.95 1.43 84309
Alkem 2722.85 0.57 231028 94763 63.09 Nifty Realty 328.25 1.17 84309
Piind 2306.35 4.29 334376 73670 57.05 Nifty Fmcg 34619.85 0.92 84309
Nestleind 17081.7 1.19 64193 45634 55.95 Nifty 50 14683.5 0.31 84309
Max Financial Services l 889.3 2.21 1355429 403827 53.94 Nifty it 26532.2 0.15 84309
Power Finance Corporatio 114.35 2.6 10028307 5655756 53.87 Nifty Auto 9781.35 0.14 84309
Hdfc Life Insurance Comp 697.15 2.2 1427470 1107864 53.4 Nifty Energy 18217.15 -0.08 84309
Godrej Cons Products Ltd 727.75 0.75 1009712 840644 52.77 Nifty Media 1527.15 -0.34 84309
Trent Limited 703.65 -3.54 1267810 387457 52.44 Nifty Bank 32501.35 -0.54 84309

Upcoming Economic Data

   Domestic                                                                                                                                                  International
INR:  Nikkei Services PMI (Mar) on  7th  April 2021

INR:  RBI  Interest Rate Decision  on 7th  April, 2021

•USD : FOMC Meeting Minutes on  7th April, 2021

•USD:  Crude Oil Inventories on 7th April, 2021

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News Updates

•Tata Motors on Tuesday said it has opened ten new full-range passenger vehicle showrooms in Delhi NCR in a single day as part of its plan to expand sales network across the country. The auto major inaugurated seven sales outlets in Delhi, two in Gurgaon and one in Faridabad as part of the exercise. With these additions, the company now has a total of 29 outlets will now cater to a larger customer group in the region.

•Reliance Jio announced on Tuesday that it has signed an agreement with Bharti Airtel for acquisition of right to use spectrum in the 800 MHz band in Andhra Pradesh, Delhi and Mumbai circles through spectrum trading. After the transfer, Jio’s spectrum footprint will be enhanced in 800 Mhz band to 2×15 Mhz in mumbai circle and 2×10 Mhz in Andhra Pradesh and Delhi circles.

•After a pause, prices of steel and iron ore are on the rise. Steel companies have increased prices by up to Rs 5,000 a tonne beginning April while state-owned iron ore producer, NMDC has hiked prices of lump ore by Rs 500 a tonne. Steel producers said that prices of hot rolled coil – a benchmark for flat steel (used in automobile, domestic appliances and construction) – have been increased by Rs 4,500-5,000 a tonne; prices of long steel (used in infrastructure and construction) have increased by up to Rs 3,000 a tonne.

•Average spot power price rose by 65 per cent to Rs 4.06 per unit in March compared to the year-ago month at Indian Energy Exchange (IEX) mainly due to increase in demand on account of rise in temperature and revival of economic activities.

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

Board Meetings

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ARCHIDPLY General 07-Apr-21 UCOBANK Preferential Issue of shares 07-Apr-21
ARVINDFASN Right Issue of Equity Shares;General 07-Apr-21 BANKINDIA General 08-Apr-21
ASHFL ESOP;Preferential Issue of shares 07-Apr-21 GOLKONDA General;Preferential Issue of shares 08-Apr-21
HDIL Audited Results;Quarterly Results 07-Apr-21 INFRATRUST General 08-Apr-21
KHAITANLTD General 07-Apr-21 MINALIND Quarterly Results 08-Apr-21
MODCL General 07-Apr-21 SALORAINTL General 08-Apr-21
SIMPLXMIL General 07-Apr-21 SELMCL General;Quarterly Results 08-Apr-21
SIMPLXPAP General 07-Apr-21 SUNRAJDI A.G.M.;Audited Results;General 08-Apr-21
STURDY General 07-Apr-21 AGARIND Issue Of Warrants;Preferential Issue 09-Apr-21
TANLA General 07-Apr-21 CHEMCON General 09-Apr-21
TATIAGLOB General 07-Apr-21 DHANADACO General 09-Apr-21

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
EDELWEISS 07-Apr-21 Interim Dividend – Rs. – 0.90 RVNL 08-Apr-21 Interim Dividend – Rs. – 1.1400
BRITANNIA 08-Apr-21 Interim Dividend – Rs. – 62.00 SIS 08-Apr-21 Buy Back of Shares
GOVINDRU 08-Apr-21 Resolution Plan -Suspension INLANPR 09-Apr-21 Consolidation of Shares
INDNIPPON 08-Apr-21 Interim Dividend – Rs. – 6.00 PRITIKAUTO 09-Apr-21 Stock  Split From Rs.10/- to Rs.2/-
KAMAHOLD 08-Apr-21 Interim Dividend – Rs. – 108.00 RAMAPHO 09-Apr-21 Interim Dividend – Rs. – 1.00
PREMCO 08-Apr-21 Interim Dividend – Rs. – 2.00 ROTO 09-Apr-21 Interim Dividend – Rs. – 1.40

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