Morning-Outlook-Feature-Image

morning-outlook-22april

NIFTY:

Nifty opened at 17234.60 with a gap up of 98 points. The index first consolidated and recorded its intraday low at 17215.50 within the first 30 minutes of trading. Prices have seen a breakout from the morning range and started moving higher. The rally lasted for almost the whole day and prices have recorded its intraday high at 17414.70. In the last hour of trading the index consolidated around its day highs and finally closed at 17392.60 a few ticks below 17400 with a gain of 256.05 points or 1.49% up. All the sectoral indices have performed well today and closed higher except the MEDIA which ended with a loss of 0.12%.AUTO continued to be an outperformer followed by IT and Financial.

The short-term trend is now sideways which was down before. Prices have found support around 17000 and bounced up. A sharp rally brought the index near its resistance level of 17500. It was a trend day today on the upside where prices have recorded its intraday low near the opening t ick and intraday high near the closing t ick. We do not have an adequate trading setup so we need to wait for one Till then avoid trading the index and watch the markets from outside. We may get a trading opportunity in the next week.

BANK NIFTY:

Bank Nifty opened at 36513. O with a gap up of 162 points. The index first slides lower, almost filled the gap and recorded its intraday low at 36395.70. Prices then turned up and kept on moving higher to record its intraday high at 36913.35. The index finally closed at 36911.25 near its day highs with a gain of 560 points. PVT and PSU BANKS both indices have performed well today, saw a sharp intraday rally and closed higher by 1.51% & 1.12% respectively. Within the index, in terms of points, HDFC BANK contributed the highest on the upside followed by KOTAK BANK.

A support is visible around 36000 and prices have bounced up from that point. The support of the previous trading range should now act as a resistance which is around 37300.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
SUNPHARMA 944 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 935 and for the target of  970.
PVR 1781 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 1780 with a stop loss of 1800 and target of 1740.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
TITAN 2540 CE BUY 30 CMP 20 50 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ZYDUSLIFE.Apr 28 361.4 0.04 2.64 17124800 JINDALSTEL.Apr 28 543 -2.45 3.68 31805000
SIEMENS.Apr 28 2386 0.05 0.54 1475375 TATACOMM.Apr 28 1283.95 -2.42 3.64 4149200
NMDC.Apr 28 170.1 0.06 0.63 52648600 LTI.Apr 28 5093 -1.82 11.94 1413300
NESTLEIND.Apr 28 18242.45 0.11 3.48 288925 CUMMINSIND.Apr 28 1091.1 -1.3 2.13 1665600
PFIZER.Apr 28 4464.65 0.11 1.83 118250 PVR.Apr 28 1790 -1.23 2.69 2361821
                                                                        Short Covering                                                                       Long Unwinding
UPL.Apr 28 829.3 0.24 -0.55 21383700 MANAPPURAM.Apr 28 121.85 5.68 -1.83 28059000
SYNGENE.Apr 28 630.6 0.32 -1.09 923950 MOTHERSUMI.Apr 28 141.95 3.95 -0.94 25189500
AUROPHARMA.Apr 28 676.5 0.65 -0.11 14850000 TATAPOWER.Apr 28 258.75 3.54 -1.04 85023000
RAMCOCEM.Apr 28 812.6 0.66 -1.67 2502400 MCX.Apr 28 1392.8 3.39 -0.22 2074800
LUPIN.Apr 28 785.5 0.73 -0.19 7569250 BSOFT.Apr 28 434.55 3.37 -2.29 3876600

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Petronet Lng Limited 210.7 1.91 2064303 0 79.23 Nifty50 17392.6 1.49 76824
Honeywell Auto India Ltd 40719.55 0.99 5358 0 75.24 Niftybank 36816.1 1.38 76824
Infosys Limited 1618.8 1.96 7766514 0 67.79 Nifty it 32611.6 1.36 76824
Larsen & Toubro Limited 1714.5 1.35 1797489 0 67.44 India Vix 17.85 -4.38 76818
Icici Bank Ltd. 762.35 0.9 8953098 0 66.8 Nifty Fmcg 38005.9 0.75 76824
Hdfc Bank Ltd. 1374.35 1.48 26223135 0 65.95 Nifty Pharma 13821.3 1.18 76824
Alkem 3404.15 -0.06 61401 0 65.66 Nifty Realty 454.4 1.12 76824
Tata Consultancy Serv Lt 3628.65 2.02 2280996 0 64.51 Nifty Auto 11090.55 2.23 76824
Atul Ltd. 9909.7 1.41 39738 0 63.48 Nifty Metal 6570.2 0.22 76824
Tech Mahindra Limited 1312.7 0.27 3728173 0 62.73 Nifty Financial Services 16959.95 1.54 76824

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Bank Loan and Deposit Growth on 22nd April, 2022 •USD:  Manufacturing PMI (Apr) on 22nd April, 2022

•USD:  Services PMI (Apr) on 22nd April, 2022

NEWS UPDATES

  • The Diversified entity ITC on Thursday said it will acquire 10.07 per cent stake in Blupin Technologies Pvt Ltd, the company behind direct-to-consumer(D2C) brand, Mylo for up to Rs 39.34 crore. The investment will provide the company an early mover advantage in the evolving content-to-community-to-commerce space and will provide an expanded presence in the D2C space, ITC said in a regulatory filing.

  • The country’s largest carmaker Maruti Suzuki India on Thursday launched a new version of its multi-purpose vehicle XL6 as it gears up to bring a slew of new products this fiscal and take the challenges of prevailing uncertainties head-on. The new XL6 is powered by a 1.5-litre petrol engine with a peak power of 75.8 kW. It is available in manual and automatic transmission options, priced between Rs 11.29 lakh and Rs 14.55 lakh (ex-showroom).

  • Three of India’s most industrialised states plan to import 10.5 million tonnes of coal in coming months as officials scramble to arrest widespread power cuts, a move that could push global coal prices to new highs. The scale of the purchases and the decision to go back on a plan to cut coal imports underscore the severity of the India’s fuel crisis. Utilities’ coal inventories are at the lowest pre-summer levels in at least nine years and electricity demand is seen rising at the fastes pace in at least 38 years.

  • The government may take a fresh look at BPCL privatisation, including revising the terms of sale, an official said. “We need to go back to the drawing board on BPCL. There are issues in terms of consortium formation, geopolitical situation and energy transition aspects,” an official said.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AMAL General 22-Apr-22 QUESTCAP Final Dividend;Audited Results 22-Apr-22
ASHUTPM General 22-Apr-22 RAJINFRA General 22-Apr-22
BGJL Results;Right Issue of Equity Shares 22-Apr-22 RESPONSINF Preferential Issue of shares 22-Apr-22
BIRLAMONEY Audited Results 22-Apr-22 RSSOFTWARE Audited Results 22-Apr-22
BVCL General 22-Apr-22 SHARDFI Audited Results;Quarterly Results 22-Apr-22
DEVKI General 22-Apr-22 SOBME General 22-Apr-22
EIKO Quarterly Results 22-Apr-22 SPAR General 22-Apr-22
EIKO Quarterly Results 22-Apr-22 SUMEETINDS General 22-Apr-22
HINDZINC Audited Results 22-Apr-22 SUNDRMFAST Audited Results 22-Apr-22
HVL General 22-Apr-22 TATAMETALI Final Dividend;Audited Results 22-Apr-22
INTELLADV General 22-Apr-22 TEJASNET Audited Results 22-Apr-22
KHAICHEM Final Dividend;Audited Results 22-Apr-22 UNIOFFICE General 22-Apr-22
MMTC Quarterly Results 22-Apr-22 WENDT Final Dividend;Audited Results 22-Apr-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
VIPPYSP 22-Apr-22 E.G.M. KSB 28-Apr-22 Dividend – Rs. – 12.5000
MUTHOOTFIN 25-Apr-22 Interim Dividend – Rs. – 20.0000 MANINDS 28-Apr-22 Interim Dividend
NIRMITEE 25-Apr-22 Bonus issue 5:1 MOLDTKPAC 28-Apr-22 Interim Dividend
SAREGAMA 26-Apr-22 Stock  Split From Rs.10/- to Rs.1/- PROFINC 28-Apr-22 Bonus issue 2:1
ABB 27-Apr-22 Final Dividend – Rs. – 5.2000 PROFINC 28-Apr-22 Stock  Split From Rs.10/- to Rs.1/-
SHREEGANES 27-Apr-22 Bonus issue 1:1 STOVACQ 28-Apr-22 Dividend – Rs. – 57.0000
DCMFINSERV 28-Apr-22 E.G.M. VESUVIUS 28-Apr-22 Dividend – Rs. – 8.0000
HCLTECH 28-Apr-22 Interim Dividend ELANTAS 29-Apr-22 Dividend – Rs. – 5.0000

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