NIFTY:
Nifty opened at 17519.0 with a minor gap up of just 21 points. The index first moved down quickly, found support, turned up but the rally fizzled out in no time. The index recorded its intraday high at 17559.80 and turned down. Prices have broken its early morning lows and kept on moving lower. A rally in the afternoon also failed to sustain. Prices have consolidated in the last one and half hours of trading and recorded its intraday low at 17435.20. The index finally closed at 17464.75 with a loss of 33.50 points or 0.19% down. The BANK, AUTO, METAL, and OIL GAS ended almost flat today. FMCG outperformed today by closing 1.20% higher while PHARMA underperformed today by closing 1.17% lower.
We have been tracking a trading range inside 17000 – 17500 for the past few trading days. This range remained intact for the tenth consecutive trading day. Moreover, the index is trying to break it on the upside for the past two days but failed to do so. The short-term trend is up and we may see a breakout soon here. The index is trading very narrow for the last three trading days which suggests a sharp move is about to come preferably on the upside. Since we are already long so we should now raise our targets at 17750. We should also move our stop at 17400 so if the index move otherwise, we still exit with some gains.
BANK NIFTY:
BANK NIFTY opened at 36457.20 with a gap up of 133 points. The index first moved down but then quickly turned up but the rally fizzled out in no time. Prices have recorded its intraday high at 36590.85 and then moved down. The downside movement continued for the rest of the day with minor rallies in between and recorded its intraday low at 36278.15. The index finally closed at 36371 with a gain of just 47 points. PSU BANKS have underperformed today and ended with a loss of 0.77%.PVT BANKS have performed well today and closed with a gai n of 0.29. Tomorrow, we should again look for a buying opportunity on a sharp dip at or below 35900 or buy on a breakout above 36800. Keep a stop of 300 points and a target of 800 points.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| INFY | 1906 | BUY | The stock is on the verge of giving the breakout on the intraday as well as the daily chart. The stock can be bought with a stop loss of 1885 and for the target of 1940. |
| ZEEL | 288 | 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 287 with a stop loss of 292 and target of 280. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| TITAN | 2600 CE | BUY | 70 | CMP | 55 | 100 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| BOSCHLTD.Mar 31 | 14443.95 | 0.06 | 0.7 | 50350 | HINDALCO.Mar 31 | 571 | -5.05 | 6.22 | 14768350 | |
| BAJFINANCE.Mar 31 | 7262.35 | 0.11 | 28.51 | 1235000 | DIVISLAB.Mar 31 | 4409.3 | -3.07 | 45.26 | 683000 | |
| GRASIM.Mar 31 | 1670.1 | 0.13 | 54.89 | 2375000 | NAUKRI.Mar 31 | 4504.3 | -2.47 | 12.98 | 390625 | |
| TATASTEEL.Mar 31 | 1310.1 | 0.22 | 22.51 | 11092925 | ZEEL.Mar 31 | 287.5 | -2.46 | 6.43 | 12954000 | |
| INFY.Mar 31 | 1911 | 0.25 | 15.66 | 10225800 | SBICARD.Mar 31 | 850 | -2.25 | 21.88 | 913500 | |
| Short Covering | Long Unwinding | |||||||||
| PNB.Mar 31 | 35.15 | 0 | -7.76 | 65040000 | IDEA.Mar 31 | 9.55 | -3.54 | -25.81 | 2.85E+08 | |
| SYNGENE.Mar 31 | 599 | 0.03 | -18.67 | 207400 | STAR.Mar 31 | 345.9 | -3.34 | -3.6 | 1252800 | |
| BANKNIFTY.Mar 31 | 36373 | 0.07 | -43.59 | 739325 | INDIAMART.Mar 31 | 4320 | -2.53 | -56.78 | 29625 | |
| POLYCAB.Mar 31 | 2370.7 | 0.08 | -25.8 | 90600 | IRCTC.Mar 31 | 774.05 | -2.33 | -52.15 | 672875 | |
| M&MFIN.Mar 31 | 158.8 | 0.09 | -45.66 | 2780000 | MINDTREE.Mar 31 | 4310.2 | -2.21 | -1.66 | 509600 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Infosys Limited | 1906.85 | 0.15 | 5399145 | 0 | 75.95 | Nifty50 | 17464.75 | -0.19 | 81699 | |
| Max Financial Services l | 753.9 | 1.3 | 843788 | 0 | 72.35 | Niftybank | 36373.6 | 0.11 | 81699 | |
| Tata Communications Ltd. | 1228.6 | 6.09 | 2658948 | 0 | 70.73 | Nifty it | 36317.2 | -0.4 | 81699 | |
| Hcl Technologies Ltd. | 1163.75 | -0.12 | 3006639 | 0 | 70.6 | India Vix | 20.56 | -0.24 | 81696 | |
| Hdfc Bank Ltd. | 1470.35 | -0.45 | 7147857 | 0 | 70.51 | Nifty Fmcg | 36287.75 | 1.2 | 81699 | |
| Wipro Ltd | 591.9 | -1.48 | 7238089 | 0 | 70.37 | Nifty Pharma | 13584.1 | -1.17 | 81699 | |
| Indian Oil Corp. Ltd. | 118.95 | 1.49 | 21134412 | 0 | 69.51 | Nifty Realty | 463.55 | 0.26 | 81699 | |
| Icici Bank Ltd. | 730.3 | -0.08 | 16046383 | 0 | 69.3 | Nifty Auto | 10552.1 | 0.09 | 81696 | |
| Tata Consultancy Serv Lt | 3739.95 | 0.23 | 2168110 | 0 | 67.67 | Nifty Metal | 6423.7 | -0.08 | 81696 | |
| Astral Limited | 2022.95 | 0.56 | 359903 | 0 | 67.38 | Nifty Media | 2379.6 | 0.81 | 81696 | |
| Dabur India Ltd. | 536.2 | 1.61 | 2884367 | 0 | 66.48 | Nifty Financial Services | 17147.15 | -0.12 | 81699 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Trade Balance on 1th April, 2022
INR: Nikkei Markit Manufacturing PMI (Mar) on 4th April, 2022 |
•USD: Nonfarm Payrolls (Mar) on 1st April, 2022
•USD: Unemployment Rate (Mar) on 1st April, 2022 |
NEWS UPDATES
- Gail (India) on Thursday approved a buyback of 57 million shares at Rs 190 apiece aggregating to Rs 1,083 crore. The buyback is at a 22 per cent premium to the company’s last closing price. Shares of Gail rose 1.5 per cent to end at Rs 155.7. The buyback is being done through the tender route– this will allow the government, which holds 51.8 per cent stake, participate. Gail has said the buyback is for 2.5 per cent of its paid- up capital and free reserves as on March 31, 2021.
- Government-owned power giant NTPC along with its joint ventures and subsidiaries clocked highest ever annual electricity generation of 360 billion units in 2021-22, registering a growth of 14.6 per cent compared to the previous year. The country’s largest power producer also recorded the maximum single-day generation of 1,215.68 MU (Group) and 1,013.45 MU (NTPC) during 2021-22.
- Government-owned power giant NTPC along with its joint ventures and subsidiaries clocked highest ever annual electricity generation of 360 billion units in 2021-22, registering a growth of 14.6 per cent compared to the previous year. The country’s largest power producer also recorded the maximum single-day generation of 1,215.68 MU (Group) and 1,013.45 MU (NTPC) during 2021-22.
- India’s fiscal deficit between April and February was Rs 13.16 trillion ($173.87 billion), or 82.7% of the year-to-March budgeted target, government data showed on Thursday. In April-February, net tax receipts were Rs 14.81 trillion while total expenditure was Rs 31.44 trillion, the data showed.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| INDSILHYD | Dividend on Preference Shares | 01-Apr-22 | RAJSPTR | General | 04-Apr-22 |
| MAYURFL | General | 01-Apr-22 | CANOPYFIN | General | 05-Apr-22 |
| PANORAMA | General | 01-Apr-22 | DWL | General | 05-Apr-22 |
| STDSHOE | General | 01-Apr-22 | GILADAFINS | Bonus issue | 05-Apr-22 |
| SVAMSOF | General | 01-Apr-22 | INDINFR | General | 05-Apr-22 |
| TIGERLOGS | General | 01-Apr-22 | MERMETL | Increase in Authorised Capital;General | 05-Apr-22 |
| VIKRAMTH | Bonus issue | 01-Apr-22 | RUCHINFRA | General | 05-Apr-22 |
| BIRLAPREC | General;Preferential Issue of shares | 02-Apr-22 | DARSHANORNA | Stock Split | 06-Apr-22 |
| GORANIN | General | 02-Apr-22 | EQUIPPP | General | 06-Apr-22 |
| KAJALSY | General | 02-Apr-22 | GENNEX | General;Rights Issue | 06-Apr-22 |
| NIRMITEE | General | 02-Apr-22 | MAYURUNIQ | General | 06-Apr-22 |
| GARMNTMNTR | Employees Stock Option Plan;Stock Split | 04-Apr-22 | SIEL | General | 06-Apr-22 |
| NILACHAL | General | 04-Apr-22 | SNIM | Consolidation of Shares | 06-Apr-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| ACC | 04-Apr-22 | Final Dividend – Rs. – 58.0000 | FILATEX | 07-Apr-22 | Buy Back of Shares |
| KAMAHOLD | 04-Apr-22 | Interim Dividend – Rs. – 111.0000 | JOHNPHARMA | 07-Apr-22 | Bonus issue 1:10 |
| NIRMITEE | 04-Apr-22 | E.G.M. | NARAYANI | 07-Apr-22 | Resolution Plan -Suspension |
| WIPRO | 05-Apr-22 | Interim Dividend – Rs. – 5.0000 | VIPULORG | 07-Apr-22 | Bonus issue 1:4 |
| DISAQ | 07-Apr-22 | Interim Dividend – Rs. – 150.0000 | ANGELONE | 08-Apr-22 | Interim Dividend |
| DWARKESH | 07-Apr-22 | Interim Dividend – Rs. – 2.0000 | DATASOFT | 08-Apr-22 | E.G.M. |
| EDELWEISS | 07-Apr-22 | Interim Dividend – Rs. – 0.2500 | PCBL | 11-Apr-22 | Stock Split From Rs.2/- to Rs.1/- |
| EKI | 07-Apr-22 | Interim Dividend – Rs. – 20.0000 | ARIHCAPM | 12-Apr-22 | Stock Split From Rs.5/- to Rs.1/- |
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