The Nifty opened at 14716.45 with a gap up of 33 points. Within the first 5 minutes of trading, the index moved down sharply and recorded its intraday low at 14649.85 and then quickly recovered from that loss. The index rallied more than 220 points from the intraday lows and recorded its intraday high at 14879.90 and then spent the rest of the day moving choppy and narrow. The index finally closed at 14819.05 with a gain of 135.55 points. All the sectoral indices have closed with gains led by Auto, Bank and IT. It was a trend day on the upside. The index ended above 14800 and now heading towards 14900 resistance. Yesterday we have mentioned two ongoing patterns in the Nifty both with a resistance level of 14900. A breakout from this pattern may give us a trade on the long side.

We should look to buy the index above 14900 with a stop at 110 points and target of 220 points.


Bank Nifty opened at 32529.70 without much of a gap. Prices have recorded its intraday low at 32141.55 and then started moving on the upside. The index recorded its intraday high at 33191.70 and then spent the next 2 hours trading sideways and choppy. Prices have finally closed at 32991. PSU and Private Banks both have performed well and closed higher by 1.95% and 1.53% respectively. Within the index, in terms of points, ICICI Bank contributed highest followed by SBIN.

It was a trend day on the upside where the index closed higher above near 33000 levels.  

Trade AnyTime AnyWhere With Elite Empower Mobile App



MOTHERSON SUMI 214.15 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 210 and for the target 221.
FEDERAL BANK 79.05 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 77 and for the target 83.50

Get All Your Mutual Fund Portfolio Retuns on Your Mobile by Elite Kuber App



STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
APOLLOHOSP 3100 CE BUY 140.05 CMP 120 180 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
PIIND.21.04 Apr 2430.2 4.61 45.67 496750 MPHASIS.21.04 Apr 1740.55 -0.99 29.37 682825
CHOLAFIN.21.04 Apr 580.25 6.78 26.15 6705000 AMARAJABAT.21.04 Apr 835.05 -1.87 23.32 3120000
VEDL.21.04 Apr 238.8 1.62 26.03 86818600 LALPATHLAB.21.04 Apr 2997.95 -1.4 12.08 322500
FINNIFTYW.21.04 Apr 15565 0.9 20.24 4040 LICHSGFIN.21.04 Apr 421.65 -0.09 11.84 6708000
NAM-INDIA.21.04 Apr 343.1 1.22 16.73 982400 GLENMARK.21.04 Apr 505.3 -1.18 9.66 7469250
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
CUMMINSIND.21.04 Apr 891.4 1.14 -6.1 1846800 TATACONSUM.21.04 Apr 669.4 -1.31 -1.13 16260750
TORNTPOWER.21.04 Apr 423.85 1.01 -5.13 2331000 NATIONALUM.21.04 Apr 59.6 0 -0.44 73882000
RBLBANK.21.04 Apr 216.85 1.62 -4.22 21274400 HINDUNILVR.21.04 Apr 2409 -0.3 -0.21 5962800
BAJFINANCE.21.04 Apr 5093.6 1.55 -4.13 3526250 GRANULES.21.04 Apr 332.5 -0.72 -0.1 6370500
PFIZER.21.04 Apr 4639.95 0.15 -3.67 75500 BHARATFORG.21.04 Apr 616.5 -1.16 -0.08 5605500

Get Stock Market Recommendation By Our Research Analysts


Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Unilever Ltd 2405.25 -0.13 1713970 2880067 78.19 Nifty Auto 9937 1.59 91212
Nippon Life India Asset 340.45 0.98 1021997 407441 71.23 Nifty Bank 32991.2 1.51 91212
Godrej Cons Products Ltd 739.5 1.61 2369890 600038 59.43 Nifty it 26831 1.13 91212
United Spirits Limited 543.45 0.45 1383196 1157507 59.31 Nifty Realty 331.4 0.96 91212
Petronet Lng Limited 230.9 1.21 2420861 1390953 56.67 Nifty 50 14819.05 0.92 91212
Hdfc Ltd. 2482.7 0.42 3511527 1619826 56.19 Nifty Metal 4325.45 0.9 91212
Vedanta Limited 236.85 1.41 42365445 9799993 55.52 Nifty Media 1538.95 0.77 91212
Colgate Palmolive (india 1550.85 -1.13 627405 214406 55.01 Nifty Energy 18333.35 0.64 91212
Max Financial Services l 889.9 0.07 740186 734130 54.16 Nifty Fmcg 34835.3 0.62 91212
Nestleind 17409.85 1.92 178465 34034 53.02 Nifty Pharma 12616.35 0.54 91212

Upcoming Economic Data

   Domestic                                                                                                                                                  International
INR:  Deposit Growth on  9th  April 2021

INR:  Bank Loan Growth on 9th  April, 2021

•USD : Initial Jobless Claims on  8th April, 2021

•USD:  PPI (MoM) (Mar) on 9th April, 2021

News Updates

•The Indian currency fell to a four-month low during trade on April 7, driven down by unwinding of positions in the offshore markets and chatter over the Reserve Bank of India’s new bond-buying programme being akin to quantitative easing. The rupee fell 1.5% to 74.55 against the U.S. dollar, the steepest one-day drop seen since August 2019, according to data available from BloombergQuint.

•The initial share sale of Macrotech Developers Ltd. received muted response from investors on the first day of its offering. The Rs 2,500-crore issue was subscribed 0.26 times as of 5 p.m. on April 7 led by qualified institutional buyers, according to exchange data. The IPO will close on April 9.

•Telecom operator Bharti Airtel on Wednesday announced an integrated platform that enables enterprises to leverage the power of the Internet of Things (IoT) and gear up for the emerging era of ‘connected things’. ‘Airtel IoT’ is an end-to-end platform with the capability to connect and manage billions of devices and applications in a highly secure and seamless manner, the company said in a statement.

•The Securities and Exchange Board of India (Sebi) has imposed a penalty of Rs 25 crore on the Ambani family and firms linked to the promoter group for violation of takeover code regulations in the year 2000. In January 2000, the promoter stake in Reliance Industries (RIL) had increased by 6.83 per cent following conversion of warrants issued in 1994.

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

Open Your Demat Account to Invest in Upcoming IPO’sDemat-and-Trading-Account-Promotion-Banner

Board Meetings

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BANKINDIA General 08-Apr-21 EVEXIA General;Stock  Split 09-Apr-21
GOLKONDA General;Preferential Issue of shares 08-Apr-21 ICSL Audited Results;General 09-Apr-21
INFRATRUST General 08-Apr-21 KALPACOMME General 09-Apr-21
MINALIND Quarterly Results 08-Apr-21 MEHTAHG General 09-Apr-21
SALORAINTL General 08-Apr-21 PRAKASHSTL General 09-Apr-21
SELMCL General;Quarterly Results 08-Apr-21 YASHCHEM General 09-Apr-21
SPECMKT Increase in Authorised Capital 08-Apr-21 INDITALIA General 10-Apr-21
SUNRAJDI A.G.M.;Audited Results;General 08-Apr-21 MINALIND General;Quarterly Results 10-Apr-21
AGARIND Issue Of Warrants;Preferential Issue 09-Apr-21 SHANGAR Audited Results;Quarterly Results 10-Apr-21
CHEMCON General 09-Apr-21 CALSOFT Audited Results 12-Apr-21
DHANADACO General 09-Apr-21 CUPIDTR Quarterly Results 12-Apr-21

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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
RVNL 08-Apr-21 Interim Dividend – Rs. – 1.1400 STYLAMIND 12-Apr-21 Stock  Split From Rs.10/- to Rs.5/-

Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, suhail@elitewealth.in
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.Company-Specific Disclosures Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in , or e-mailing research@elitestock.com with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail research@elitestock.com.Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person. Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, advisory board member or employee of any company in the analyst’s area of coverage. Country Specific Disclosures India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL Advisory discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL Advisory or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL Advisory or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL Advisory or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
2. Compensation
(a) EWL Advisory or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL Advisory or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL Advisory or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL Advisory or its associates have not received any compensation for products or services other than investment banking
or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL Advisory or its associates have not received any compensation or other benefits from the subject company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL Advisory or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL Advisory
Provided that research analyst or research entity shall not be required to make a disclosure as per sub-clauses (c), (d) and (e) of clause (ii) or sub-clauses (a) and (b) of clause (iii) to the extent such disclosure would reveal material non-public information regarding specific potential future investment banking or merchant banking or brokerage services transactions of the subject company.
(4) EWL Advisory or its proprietor has never served as an officer, director or employee of the subject company;
(5) EWL Advisory has never been engaged in market making activity for the subject company;
(6) EWL Advisory shall provide all other disclosures in research report and public appearance as specified by the Board under any other regulations.