outlookNIFTY:

The Nifty opened at 14875.65 with a gap up of 56 points. The index rallied further and recorded its intraday high at 14984.15. The index started a sharp decline just after prices have recorded the intraday high and fell down almost 150 points. The index recorded its intraday low at 14821.10 and finally closed at 14873.80 with a gain of 54.75 points. The Metal and IT shines and closed higher by 3.92% and 1.18% respectively. Banks and Financials have underperformed and closed with marginal loss.  We have suggested a trade on the long side. The idea is to wait for prices to break above 14900 and then take a long trade there for a target of 220 points and a stop of 110 points. Our long trade was taken at that level, however neither the stop nor target were hit. So our trade remains intact.

It was a volatile day in the index where prices opened with a gap up, saw an intraday decline and finally closed without much change.

We have identified a large range of 14400-14900. Prices broke this range on the upside but were not able to sustain. Within the broad range, there is a support at 14600.

BANK NIFTY:

Bank Nifty opened at 33154.20 with a gap up of 196 points. The index rallied further and recorded its intraday high at 33306.80. Prices have trade very choppy and saw an intraday fall around 2:00PM. The index closed with slight losses. PSU and Private Banks both have seen minor decline and closed lower. Within the index, Kotak Bank contributed highest while HDFC Bank the lowest.

We had suggested along trade above 33200 with a stop at 32800 and target of 34000. Prices have broken 33200 intraday but our stop was hit. A gap up opening did not sustain as the index closed with a loss. Intraday movement was very choppy and narrow.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
NAM INDIA 358.05 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 350 and for the target 370
ULTRATECH 6971.25 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 6930 and for the target 7100

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
TATA CONSUMER 670 CE BUY 23.15 CMP 18 31 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
NAM-INDIA.21.04 Apr 361.25 5.52 50 1459200 AMARAJABAT.21.04 Apr 814 -3.15 31.95 4159000
HDFCAMC.21.04 Apr 3025 3.56 16.39 610800 APLLTD.21.04 Apr 980 -0.35 13.41 925650
SHREECEM.21.04 Apr 31705.05 4.57 13.91 158850 GODREJCP.21.04 Apr 741.2 -0.1 13.38 5584000
JSWSTEEL.21.04 Apr 621 10.07 10.61 37395000 POWERGRID.21.04 Apr 210.1 -0.97 8.83 21144000
MPHASIS.21.04 Apr 1780 2.06 10.49 760175 IBULHSGFIN.21.04 Apr 192.05 -2.56 8.82 34251900
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
ESCORTS.21.04 Apr 1275.65 2.57 -6.19 2140600 FINNIFTYW.21.04 Apr 15524.5 -0.83 -81.91 2880
AUBANK.21.04 Apr 1256.95 1.66 -5.72 2260000 IDEA.21.04 Apr 9.55 -3.05 -6.71 633150000
PFIZER.21.04 Apr 4642 0.06 -3.33 72500 CUMMINSIND.21.04 Apr 888.75 -0.38 -2.48 1748400
GODREJPROP.21.04 Apr 1387.85 0.78 -2.98 1693900 CHOLAFIN.21.04 Apr 566.15 -2.61 -2.32 6107500
TITAN.21.04 Apr 1574 3.19 -2.93 5870250 ICICIPRULI.21.04 Apr 457.25 -0.03 -2.06 7834500

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Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Mphasis Limited 1760.35 1.61 1021233 814639 75.02 Nifty Metal 4494.95 3.92 88350
Britannia Ind Ltd. 3816.75 0.22 613388 395509 62.41 Nifty it 27148.4 1.18 88350
Colgate Palmolive (india 1590.1 2.53 508957 382721 61 Nifty Realty 334.1 0.81 88350
Hdfc Life Insurance Comp 701.45 0.23 1817393 1738587 60.15 Nifty Fmcg 34983.05 0.42 88350
Hdfc Bank Ltd. 1432.8 -1 8806796 7434774 59.27 Nifty 50 14873.8 0.37 88350
Alkem 2706.45 -0.76 90791 67864 59.22 Nifty Media 1544.35 0.35 88350
Hdfc Ltd. 2502.55 0.8 2510746 2078408 59.19 Nifty Auto 9959.35 0.22 88350
Nippon Life India Asset 358.05 5.17 2817863 597080 58.42 Nifty Pharma 12611.7 -0.04 88350
Godrej Cons Products Ltd 739.9 0.05 2088453 1379274 58.2 Nifty Energy 18275.55 -0.32 88350
Bata India Ltd. 1405.2 1.25 424826 330798 56.35 Nifty Bank 32782.85 -0.63 88350

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Upcoming Economic Data

   Domestic                                                                                                                                                  International
INR:  Deposit Growth on  9th  April 2021

INR:  Bank Loan Growth on 9th  April, 2021

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

•USD:  Core CPI (MoM) (Mar) on 13th April, 2021

News Updates

•Coal India on Thursday said its capital expenditure (capex) grew more than two-folds to hit an all-time high of Rs 13,115 crore in the just concluded fiscal. CIL’s original sanctioned capex budget was Rs 10,000 crore for FY’21. “Coal India Ltd (CIL) more than doubled its capital expenditure to an unprecedented high of Rs 13,115 crore in FY’21. Against the capex of Rs 6,270 crore in FY’20, the company clocked 109 per cent growth amid the Covid slump.

•IT major Infosys on Thursday announced a strategic long-term partnership with ArcelorMittal to help accelerate the company’s digital transformation journey and enable next-generation application management and business process management (BPM) services for ArcelorMittal Europe. Through this engagement, Infosys will work with ArcelorMittal Europe, share best practices around next-generation application management services to optimise, stabilise, and transform ArcelorMittal’s IT landscape.

•JSW Steel on Thursday reported nearly 6 per cent year-on-year increase in its output at 4.19 million tonne (MT) for the quarter ended March 31, 2021. In a statement, the JSW Group company said it had produced 3.97MT steel during the same quarter of financial year 2019-20. During January-March 2021, the company’s production of flat rolled products rose by 4 per cent to 2.99 MT, from 2.87 MT in the year-ago period. Oil fell as bearish virus news from India to Japan underpinned the outlook for a staggered recovery in consumption. West Texas Intermediate slid 0.6%, though remains within the $5 range it has traded in since mid-March.

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

Board Meetings

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AGARIND Issue Of Warrants;Preferential Issue 09-Apr-21 MINALIND General;Quarterly Results 10-Apr-21
CHEMCON General 09-Apr-21 SHANGAR Audited Results;Quarterly Results 10-Apr-21
DHANADACO General 09-Apr-21 CALSOFT Audited Results 12-Apr-21
EVEXIA Stock  Split;General 09-Apr-21 CUPIDTR Quarterly Results 12-Apr-21
ICSL Audited Results;General 09-Apr-21 HDIL Audited Results;Quarterly Results 12-Apr-21
KALPACOMME General 09-Apr-21 HINDCOPPER General 12-Apr-21
MEHTAHG General 09-Apr-21 HITECHGEAR Employees Stock Option Plan 12-Apr-21
PRAKASHSTL General 09-Apr-21 IOB Preferential Issue of shares 12-Apr-21
YASHCHEM General 09-Apr-21 LLOYDSME Quarterly Results 12-Apr-21
CYBERMAT General 10-Apr-21 NOVIS General 12-Apr-21
INDITALIA General 10-Apr-21 PODDAR General 12-Apr-21

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
INLANPR 09-Apr-21 Consolidation of Shares FINOLEXIND 15-Apr-21 Stock  Split From Rs.10/- to Rs.2/-
PRITIKAUTO 09-Apr-21 Stock  Split From Rs.10/- to Rs.2/- INFRATRUST 15-Apr-21 Income Distribution (InvIT)
RAMAPHO 09-Apr-21 Interim Dividend – Rs. – 1.00 KSB 15-Apr-21 Dividend – Rs. – 8.50
ROTO 09-Apr-21 Interim Dividend – Rs. – 1.40 SHARDA 16-Apr-21 Stock  Split From Rs.10/- to Rs.2/-
HARITASEAT 12-Apr-21 Amalgamation ABB 19-Apr-21 Dividend – Rs. – 5.00
STYLAMIND 12-Apr-21 Stock  Split From Rs.10/- to Rs.5/- SANOFI 19-Apr-21 Final Dividend – Rs. – 125.00

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