Morning-Outlook-Feature-Image

Morning-outlook-19aprilNIFTY:

Nifty opened at 17183.45 wit ha big gap down of 292 points. The index initially moved up a few ticks, finding strong resistance, recorded its intraday high at 17237.75,and turned down. A sharp decline of almost 100 points came in the next one hour and then prices started moving sideways. The consolidation eventually broke on the downside and prices have recorded its intraday low at 17067.85. The index moved up after lunch and kept on rising towards the end of today’s trading session, and finally closed at 17173.65 wit h a loss of 302 points or1.73% down. AUTO,METAL, and FMCG sectors have outperformed today and ended wit h a gain. The IT sector led the bears today and ended wit h a loss of 4.58% followed by the BANK & FINANC IALS.

The short-term trend is now down as prices have been closing lower after a breakdown from a narrow trading range. A sharp decline brought prices around the 17000 level today where the bulls came and brought prices higher. A very strong support zone is visible inside the 17000 – 17200 range. Moreover, a 38% retracement of the previous upside move comes around 17180. The support zone has been respected on many previous occasions.

BANK NIFTY:

Bank Nifty opened at 36833.15 with a big gap down of 606 points. The index first moved up, recorded its intraday high at 336965.85 and then turned down. Prices have moved very volatile and recorded its intraday low at 36441.35 and then saw a sharp recovery to finally close at 36791.60 with a loss of 648 points. PSU and PVT BANKS both have seen sharp intraday decline and closed lower by 2.49% & 1.71% respectively. Within the index, in terms of points, AXISBANK contributed the highest while HDFC BANK contributed the lowest.

If current decline is a correction of previous up from March 2022 onwards then prices should hold today’s low around 36400. We should wait for one or two more days for a confirmation.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
ADANIENT 2233 BUY The stock is on the verge of giving the breakout on the intraday as well as the daily chart. The stock can be buy  with a stop loss of 2200 and for the target of  2280.
APOLLOHOSP 4554 SELL The  immediate trend of the script is bearish. There is a negative  cross over of moving averages  as well as of the indicators therefore  it can be sell below 4550 with a stop loss of 4580 and target of 4500.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
TITAN 2500 CE BUY 51 CMP 40 75 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
HINDCOPPER.Apr 28 121.7 0.08 0.65 16602300 INFY.Apr 28 1624.45 -7.44 6.57 37479600
ZYDUSLIFE.Apr 28 366.3 0.18 0.45 17562600 TATAPOWER.Apr 28 258.5 -5.66 14.86 1.11E+08
RECLTD.Apr 28 131 0.23 0.98 28920000 MPHASIS.Apr 28 2900 -5.27 5.47 1815275
L&TFH.Apr 28 82.75 0.24 2.39 43495576 HDFC.Apr 28 2273.35 -4.76 4.17 23152200
BAJAJ-AUTO.Apr 28 3694.95 0.25 8.19 1836000 TECHM.Apr 28 1348.05 -4.57 1.35 13885800
                                                                        Short Covering                                                                       Long Unwinding
BOSCHLTD.Apr 28 14583.05 0 -1.33 144900 BSOFT.Apr 28 429.05 -5.21 -0.98 4748900
SYNGENE.Apr 28 638.8 0.05 -1.03 1140700 PVR.Apr 28 1826.9 -4.4 -6.68 2625557
PIDILITIND.Apr 28 2371.7 0.07 -1.44 2949000 IDEA.Apr 28 10.15 -2.87 -0.72 6.61E+08
MARICO.Apr 28 520.25 0.08 -0.08 7536000 ABCAPITAL.Apr 28 114.85 -2.59 -2.01 20570000
MANAPPURAM.Apr 28 123.4 0.08 -0.62 29775000 INDHOTEL.Apr 28 247 -2.45 -2.41 22680058

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Honeywell Auto India Ltd 40422.6 1.05 2867 0 89.83 Nifty50 17173.65 -1.73 82839
Navin Fluorine Internati 3964.25 0.77 146406 0 76.44 Niftybank 36729 -1.96 82842
Colgate Palmolive (india 1544.4 0.9 208338 0 68.29 Nifty it 32780.05 -4.58 82842
Icici Bank Ltd. 757.8 -0.58 17651530 0 67.41 India Vix 19.34 8.77 82842
Crompton Greaves Consume 377.15 -0.2 1655533 0 66.06 Nifty Fmcg 38422.1 0.6 82842
Hdfc Life Insurance Comp 574.3 1.67 5765896 0 64.71 Nifty Pharma 13717.3 -0.4 82842
Ipca Laboratories Ltd. 1023.05 -1.93 256769 0 64.05 Nifty Realty 458.2 -1.27 82842
Mrf Ltd. 66944.95 -0.74 11982 0 63.95 Nifty Auto 10745.75 0.44 82842
Mah & Mah Ltd. 874.1 0.92 3076843 0 63.89 Nifty Metal 6648.95 0.33 82842
Dabur India Ltd. 562.7 1.22 1332556 0 63.34 Nifty Financial Services 17034.65 -2.21 82842

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  M3 Money Supply on 20th April, 2022

INR: Bank Loan Growth on 22nd April, 2022

•USD:  Building Permits (Mar) on 19th April, 2022

•USD:  Existing Home Sales (Mar) on 20th April, 2022

NEWS UPDATES

  • Larsen & Toubro Ltd. is weighing a merger between two of its publicly traded software firms, according to people familiar with the matter, as the Indian conglomerate seeks scale to compete with global digital giants. The boards of Mindtree Ltd. and Larsen & Toubro Infotech Ltd., two software units controlled by the Mumbai-based engineering firm, could consider share swap ratios for the merger as early as next week, one of the people said, asking not to be identified as the information is not public

  • Mindtree on Monday reported a 49 per cent year-on-year rise in consolidated net profit at Rs 473.1 crore for the quarter ending 31 March, 2022 on the back of robust demand and aggressive customer mining. The company had posted a net profit of Rs 317 crore in the same quarter last year. The Bengaluru-based company saw its revenue grow 37 per cent to Rs 2,897 crore in the quarter under review from Rs 2,109 crore in the year-ago period. In dollar terms, net profit rose nearly 45 per cent YoY to $62.7 million, while revenue increased 32.2 per cent to $383.8 million in the said quarter over the year-ago period.

  • Ashok Leyland on Monday said it has joined hands with Mahindra First Choice Wheels to enter the used commercial vehicles business. The company has inked a MoU with Mahindra First Choice Wheels Ltd (MFCWL) in this regard. The phygital platform, as part of the partnership, will facilitate an exchange and proper disposal and purchase of old commercial vehicles.

  • Maruti Suzuki India (MSI) on Monday said it has increased prices of its entire model range, between 0.9 per cent to 1.9 per cent, with immediate effect.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ACC Quarterly Results 19-Apr-22 ANGELONE Final Dividend;Audited Results 20-Apr-22
BENARAS A.G.M.;Final Dividend;Audited Results 19-Apr-22 ASRL Quarterly Results;Audited Results;General 20-Apr-22
GODAVARI A.G.M.;Audited Results 19-Apr-22 ELEFLOR General 20-Apr-22
GREENPOWER Right Issue of Equity Shares;General 19-Apr-22 ELLORATRAD Audited Results;General 20-Apr-22
HIPPOCABS Half Yearly Results 19-Apr-22 GLS Final Dividend;Audited Results 20-Apr-22
LONTE Audited Results 19-Apr-22 HCKKVENTURE Quarterly Results;Audited Results 20-Apr-22
LTI Dividend;Audited Results 19-Apr-22 INDBANK Audited Results 20-Apr-22
MADHURIND General 19-Apr-22 INDBNK Audited Results 20-Apr-22
MASTEK Final Dividend;Audited Results 19-Apr-22 INOXWIND Pref. Issue of shares;Issue Of Warrants 20-Apr-22
PCBL Quarterly Results;Audited Results 19-Apr-22 IOSYSTEM General 20-Apr-22
RAMASTEEL Preferential Issue of shares 19-Apr-22 ISEC Final Dividend;Audited Results 20-Apr-22
TATASTLLP Dividend;Audited Results 19-Apr-22 JTLINFRA Audited Results;General 20-Apr-22
ZLEENCON Pref. Issue ;Increase in Authorised Capital 19-Apr-22 NAVKAR General 20-Apr-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
DILIGENT 19-Apr-22 Stock  Split From Rs.5/- to Rs.1/- NESTLEIND 21-Apr-22 Interim Dividend – Rs. – 25.0000
IDFC 19-Apr-22 Interim Dividend – Rs. – 1.0000 VIPPYSP 22-Apr-22 E.G.M.
JUBLFOOD 19-Apr-22 Stock  Split From Rs.10/- to Rs.2/- MUTHOOTFIN 25-Apr-22 Interim Dividend
SCHAEFFLER 19-Apr-22 Dividend – Rs. – 16.0000 SAREGAMA 26-Apr-22 Stock  Split From Rs.10/- to Rs.1/-
HUHTAMAKI 20-Apr-22 Dividend – Rs. – 1.0000 ABB 27-Apr-22 Final Dividend – Rs. – 5.2000
SANDHAR 20-Apr-22 E.G.M. SHREEGANES 27-Apr-22 Bonus issue 1:1
GAIL 21-Apr-22 Buy Back of Shares DCMFINSERV 28-Apr-22 E.G.M.
NESTLEIND 21-Apr-22 Final Dividend – Rs. – 65.0000 HCLTECH 28-Apr-22 Interim Dividend

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