1april-morning-outloo

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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