Morning-Outlook-Feature-Image

Morning-outlook-26April

NIFTY:

Nifty opened at 17009.05 with a big gap down of 162 points. The index first consolidated around the opening tick, saw a minor upward rally and recorded its intraday high at 17054.30.Prices then moved down very sharply towards the 16900 and then turned up. Another rally came and fizzled out quickly and the index moved down to record its intraday low at 16888.70.The index again saw a sharp intraday rally of about 100 points towards the end of today ‘s trading session and finally closed at 16953.95 with a loss of 218 points or 1.27% down. All the sectoral indices have seen a decline today and closed lower except the BANKS which ended with gains. The REALTY led the bears to end nearly 4% down followed by the META L,MEDIA, IT, and PHARMA which ended more than 2% lower.

the intraday range was very narrow today and prices have recorded a pattern of NR7. This pattern does not have enough impact if it appears after a gap. The short-term trend is sideways but the bias is more on the downside as fa r as the index if trading below 17000. If the index moves higher tomorrow and finds strong support around 17000 then we should look for buying also. The idea is to buy on a breakout above 17150 with a stop at 17040 and a target at 17390.

BANK NIFTY:

Bank Nifty opened at opened at 35792.35 with a gap down of 216 points. The index recorded its intraday low at 35511.40 and bounced up sharply. Prices have filled the gap quickly. The index moved up and down in a sideways manner for almost the whole day, recorded its intraday high at 36270.15, and finally closed at 36192.85 with a gain of 184 points. PVT BANKS have outperformed today and closed with a gain of 0.10%.PSU BANKS have underperformed today, saw a sharp intraday decline, and closed lower by 1.31%. Within the index, in terms of points, HDFC BANK contributed the highest while SBIN contributed the lowest.

We have mentioned a narrow trading range inside the 36000 – 37000 zone. Prices have opened below 36000, bounced up sharply, and then spend most of today’s time above the 36000 support.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
HDFCBANK 1365 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 1350 and for the target of  1400.
TATAMOTOR 425 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 424 with a stop loss of 430 and target of 410.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
ESCORTS 1620 CE BUY 12 CMP 7 20 OI Increase

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Unilever Ltd 2100.75 -1.23 2437310 0 78.97 Nifty50 16953.95 -1.27 99387
Ipca Laboratories Ltd. 999.3 -2.74 267628 0 74.45 Niftybank 36082.35 0.1 99387
Infosys Limited 1561.1 -1.54 7000570 0 69.13 Nifty it 31744 -2.11 99387
Power Grid Corporation o 222.85 -1.15 8282013 0 68.74 India Vix 21.26 15.84 99387
Cummins India Limited 998.95 -5.82 1328456 0 68.37 Nifty Fmcg 37167.4 -1.61 99387
Aarti Industries Ltd. 886.35 -3.89 665521 0 65.62 Nifty Pharma 13296.75 -2.01 99387
Icici Bank Ltd. 752.2 0.61 35417460 0 64.74 Nifty Realty 431.25 -3.76 99387
Crompton Greaves Consume 371.55 -2.03 1252431 0 63.94 Nifty Auto 10916.5 -1.01 99387
Indus Towers Limited 211.1 -1.81 2306741 0 63.87 Nifty Metal 6256.8 -2.85 99387
Voltas Ltd. 1242.35 -0.78 978292 0 63.83 Nifty Financial Services 16639.95 -0.15 99387

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Federal Fiscal Deficit (Mar) on 29th April, 2022

INR: Infrastructure Output (YoY) (Mar) on 29th April, 2022

•USD:  CB Consumer Confidence (Apr) on 26th April, 2022

•USD:  New Home Sales (Mar) on 26th April, 2022

NEWS UPDATES

  • BHEL on Monday said it has received an order from NTPC for six electric locomotives to be used for the first time in the country for industrial application. The locomotives will be manufactured at the company’s facility in Jhansi, Uttar Pradesh. While the traction motors for the locomotives will be supplied from its Bhopal plant, IGBT (Insulated Gate Bipolar Transistors) based propulsion equipment will be developed and supplied by the Bengaluru unit, BHEL said in a statement.
  • Debt-ridden Future Group is now focusing on saving and rebuilding firms such as — Future Lifestyle Fashions, Future Supply Chain Solutions, Future Consumer and Future Enterprises, after the Rs 24,713-crore deal with Reliance Retail was rejected by secured creditors, according to industry sources. However, Future Group’s flagship firm Future Retail Ltd (FRL), which has nearly Rs 18,000 crore debt, is bound to face the corporate insolvency resolution process before the National Company Law Tribunal (NCLT).
  • After becoming the technical partner of the Mercedes-AMG Petronas Formula One Team and making strides in MotoGP through Petronas Sepang Racing Team, Malaysian oil and gas giant Petronas has joined hands with TVS Motor Company’s TVS Racing, India’s first factory racing team.
  • Billionaire Industrialist Gautam Adani has edged past veteran investor Warren Buffett to become the world’s fifth-richest person, according to data by Forbes. The sharp run-up in Adani Group stocks has led him to this feat. According to Forbes’ Real-Time Billionaires List, Adani’s wealth stood at $123.7 billion as of Friday’s close, racing past Buffett’s $121.7 billion.

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ABSLAMC Audited Results;Final Dividend 26-Apr-22 MADHUDIN Audited Results 26-Apr-22
ATUL* Audited Results;Final Dividend 26-Apr-22 MAHLOG Audited Results;Final Dividend;General 26-Apr-22
AUBANK Results;Bonus issue;Final Dividend 26-Apr-22 NAM-INDIA Audited Results;Final Dividend 26-Apr-22
BAJFINANCE Audited Results;Dividend 26-Apr-22 NELCO Audited Results;Dividend 26-Apr-22
DLINKINDIA Dividend;Quarterly Results 26-Apr-22 SANOFI Quarterly Results 26-Apr-22
GATEWAY Audited Results;Interim Dividend 26-Apr-22 SCHAEFFLER Quarterly Results 26-Apr-22
HDFCLIFE Audited Results;Final Dividend;General 26-Apr-22 SDBL Audited Results;General;Quarterly Results 26-Apr-22
IIFLSEC Audited Results;General 26-Apr-22 SINCLAIR Buy Back of Shares 26-Apr-22
ITHL Audited Results;Final Dividend 26-Apr-22 TATACOFFEE Audited Results;Dividend 26-Apr-22
JINDHOT Audited Results;Quarterly Results 26-Apr-22 TTML Audited Results 26-Apr-22
JK AGRI Audited Results;Dividend 26-Apr-22 UBL Audited Results;Dividend 26-Apr-22
KPITTECH Audited Results;Dividend 26-Apr-22 UTIAMC Audited Results;Final Dividend 26-Apr-22
LODHA Audited Results 26-Apr-22 VSTIND Audited Results;Dividend 26-Apr-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
SAREGAMA 26-Apr-22 Stock  Split From Rs.10/- to Rs.1/- MOLDTKPAC 28-Apr-22 Interim Dividend – Rs. – 6.0000
TCMLMTD 26-Apr-22 Right Issue of Equity Shares PROFINC 28-Apr-22 Stock  Split From Rs.10/- to Rs.1/-
ABB 27-Apr-22 Final Dividend – Rs. – 5.2000 PROFINC 28-Apr-22 Bonus issue 2:1
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 – Rs. – 18.0000 AVROIND 29-Apr-22 E.G.M.
KSB 28-Apr-22 Dividend – Rs. – 12.5000 ELANTAS 29-Apr-22 Dividend – Rs. – 5.0000
MANINDS 28-Apr-22 Interim Dividend – Rs. – 2.0000 SHAHALLOYS 29-Apr-22 E.G.M.

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)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, suhail@elitewealth.in
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.
Research Excerpts
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.
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing research@elitestock.com 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 research@elitestock.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
Other Disclosures
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:
1. Reports
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;
2. Compensation
(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

FILING COMPLAINTS ON SCORES - EASY & QUICK

a. Register on SCORES portal

b. Mandatory details for filing complaints on SCORES:
i. Name, PAN, Address, Mobile Number, E-mail ID

c. Benefits:
i. Effective communication
ii. Speedy redressal of the grievances

SEBI : https://www.scores.gov.in/scores/complaintRegister.html