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 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.
|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.|
|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|
|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
|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
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
|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|
|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|
|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|
|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|
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)
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, email@example.com
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.
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.
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing firstname.lastname@example.org 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 email@example.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
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, 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 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:
a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL 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 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;
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL 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 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 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 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