Morning-Outlook-Feature-Image

Morning-outlook-28april

 NIFTY:

Nifty opened at 17073.35 wit ha big gap down of 127 points. The index first consolidated for the first 15 minutes of trading and recorded its intraday high at 17110.70.Prices found strong resistance there and started moving on the downside. A sharp decline of more than 100 points brought prices to its intraday low at 16958.45 and then finds support there. A rally started from that level which brought prices to its early morning highs and the index finally closed at 17073.35 above its opening tick with a loss of 162.40 points or 0.94% down. All the sectoral indices have seen a downside move today except the MEDIA which ended with minor gains. BANK, FINANCIAL and OOIL GAS led the bears today and ended more than 1% lower.

A trading range inside 17000 – 17500 remained intact and today was the eighth day when prices have moved within these levels. A pattern of NR7 can be seen on the daily timeframe chart from the last three trading days indicating a phase of contraction which should eventually lead prices to a phase of expansion. The short-term trend sideways now suggests a move can come one either side of the market. As of now, we should avoid trading the index and wait for a decisive breakout from the current trading range.

BANK NIFTY:

Bank Nifty opened at 36067.55 wit h a gap down of 323 points. The index first moved up but did not sustain higher, and faced strong resistance. Prices have recorded its intraday high at 36175.90 and then drifted downwards. A sharp decline brought prices to its intraday low at 35747.15 and then prices bounced up from there. The index finally closed at 36045.85 wit ha loss of 345 points.

The short-term trend is sideways. We have mentioned a narrow trading range inside the 36000 – 37000 zone. Prices have remained inside this range. The support levels are now shifting at 35800. intraday movement continued to be volatile. We may see a direction move in the next few trading days.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
INDUSINDBK 974 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 965 and for the target of  1000.
DRREDDY 4077 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 4070 with a stop loss of 4100 and target of 4000.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
BAJAFINANCE 6700 PE BUY 42 CMP 25 80 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
LICHSGFIN.Apr 28 382.45 0 8.47 10012000 BAJFINANCE.Apr 28 6730.4 -7.12 20.05 1846875
INDUSINDBK.Apr 28 981.5 0.01 39.69 10794600 TRENT.Apr 28 1219.65 -4.6 22.44 1491325
CIPLA.Apr 28 977.75 0.06 23.37 5593250 MINDTREE.Apr 28 3538.65 -4.45 0.75 1054600
TORNTPOWER.Apr 28 548.25 0.08 35.29 3007500 INDIGO.Apr 28 1796.2 -4.01 26.2 1335500
BIOCON.Apr 28 380.8 0.12 26.61 10011900 HINDPETRO.Apr 28 281.5 -3.71 0.11 4884300
                                                                        Short Covering                                                                       Long Unwinding
COFORGE.Apr 28 4049.95 0.05 -4.24 370400 IDEA.Apr 28 9.6 -4.48 -13.65 1.83E+08
ASTRAL.Apr 28 2143.5 0.08 -3.96 253550 NAVINFLUOR.Apr 28 3944.75 -4.1 -16.04 171900
MFSL.Apr 28 754.3 0.15 -1.05 549250 AUBANK.Apr 28 1365.75 -3.55 -20.99 933500
JSWSTEEL.Apr 28 720.4 0.17 -0.9 10953900 ATUL.Apr 28 8996 -3.53 -53.18 27075
LTI.Apr 28 4841.5 0.28 -1.32 720150 NAM-INDIA.Apr 28 319.25 -3.1 -8.64 1724800

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Sbi Cards And Payment Se 827.05 1.03 2236402 0 74.85 Nifty50 17038.4 -0.94 83220
Crompton Greaves Consume 374.15 0 632259 0 74.52 Niftybank 36028.85 -1.03 83226
Metropolis Healthcare Li 2380.3 -0.44 167063 0 74.07 Nifty it 31594.35 -0.77 83226
Dabur India Ltd. 559.85 -0.01 1704589 0 71.21 India Vix 20.61 7.37 83226
Asian Paints Limited 3148.35 0.73 963536 0 70.72 Nifty Fmcg 37634.5 -0.61 83226
Infosys Limited 1552.8 -1.78 8819356 0 68.79 Nifty Pharma 13358.15 -0.64 83226
Sbi Life Insurance Compa 1074.2 -1.89 1202603 0 67.87 Nifty Auto 11158.85 -0.56 83226
Hcl Technologies Ltd. 1095.6 0.12 3288792 0 67.76 Nifty Metal 6321.55 -0.24 83226
Persistent 4076.95 0.49 205919 0 66.7 Nifty  Pvt Bank 18302.45 -0.95 83226
Indus Towers Limited 207.45 -2.65 3061918 0 65.43 Nifty Financial Services 16557.7 -1.47 83226

UPCOMING ECONOMIC DATA

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

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

•USD:  GDP (QoQ) (Q1) on 28th April, 2022

•USD:  Initial Jobless Claims on 28th April, 2022

NEWS UPDATES

  • Life Insurance Corporation of India (LIC) will come out with its IPO on May 4. The company has set a price band at Rs 902 to Rs 949 per equity share, said Dipam Secretary Tuhin Kanta Pandey. He added that it will be called LIC 3.0 phase. In a press conference he said, “LIC IPO will not crowd out capital and monetary supply in the market. The IPO is right sized, given the constraints in the market. Despite the reduced size, LIC IPO is the biggest in India yet LIC is likely to list on the stock exchanges on May 17.

  • Hindustan Unilever (HUL) on Wednesday said its standalone net profit for the quarter ended March 2022 stood at Rs 2,327 crore, up 8.58 per cent from Rs 2,143 crore posted in the same quarter last year. In an analyst poll conducted by ET Now, the projection of net profit stood at Rs 2,180 crore. The company said its revenue from sale of products during Q4FY22 came in at Rs 13,190 crore, up 10.40 per cent from Rs 11,947 crore in the year-ago quarter.

  • Telecom operator Bharti Airtel has acquired around 7 per cent stake in cloud-based networking solutions provider Cnergee Technologies under the Airtel Startup Accelerator Program. The stake acquisition will enable Airtel to sharpen its NaaS proposition for Small and Medium Businesses (SMBs), who are looking to accelerate their shift to cloud-based applications, Airtel said in a statement.

  • Chennai-based two-wheeler major TVS Motor Company has entered into a strategic partnership with Rapido, a leading on-demand delivery and mobility platform. As part of the deal, TVS Motor and Rapido will look to collaborate by leveraging synergies of their respective businesses in the fast-moving mobility market in India.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AMBUJACEM Quarterly Results 28-Apr-22 INDIAMART ;Buy Back of Shares;Final Dividend;Results 28-Apr-22
ASHNI General;Stock  Split 28-Apr-22 INDORAMA Audited Results 28-Apr-22
ATFL Dividend;Final Dividend; Results 28-Apr-22 KIRLPNU Final Dividend;Quarterly Results 28-Apr-22
AXISBANK Audited Results;Final Dividend;General 28-Apr-22 LAURUSLABS Audited Results;Interim Dividend 28-Apr-22
BAJAJFINSV Audited Results;Dividend 28-Apr-22 MAYUKH Audited Results 28-Apr-22
BAJAJHLDNG Audited Results;Final Dividend 28-Apr-22 MOSCHIP Results;Employees Stock Option Plan 28-Apr-22
BIOCON Audited Results;Dividend 28-Apr-22 MOTILALOFS Audited Results;Dividend;General 28-Apr-22
CAPACITE General 28-Apr-22 MPHASIS Audited Results;Dividend 28-Apr-22
CHEMCON General 28-Apr-22 NETLINK Audited Results;General 28-Apr-22
COLPAL Interim Dividend 28-Apr-22 OBCL General 28-Apr-22
COROMANDEL Audited Results;Final Dividend 28-Apr-22 ORIRAIL Audited Results;Dividend 28-Apr-22
DATAMATICS Audited Results;Final Dividend 28-Apr-22 PGHH Quarterly Results 28-Apr-22
DHRUV General;Preferential Issue of shares 28-Apr-22 PNBHOUSING Audited Results;Quarterly Results 28-Apr-22
EMBASSY Audited Results;Dividend 28-Apr-22 SBILIFE Audited Results 28-Apr-22
FCL Audited Results;Final Dividend 28-Apr-22 SRTRANSFIN Audited Results;General 28-Apr-22
GOKULAGRO Audited Results;General 28-Apr-22 STLTECH Audited Results;Final Dividend 28-Apr-22
HUHTAMAKI Quarterly Results 28-Apr-22 VBL Quarterly Results 28-Apr-22
IIFL Audited Results 28-Apr-22 VEDL Audited Results;Interim Dividend 28-Apr-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
DCMFINSERV 28-Apr-22 E.G.M. MOLDTKPAC 28-Apr-22 Interim Dividend – Rs. – 6.0000
HCLTECH 28-Apr-22 Interim Dividend – Rs. – 18.0000 PROFINC 28-Apr-22 Bonus issue 2:1
KSB 28-Apr-22 Dividend – Rs. – 12.5000 PROFINC 28-Apr-22 Stock  Split From Rs.10/- to Rs.1/-
MANINDS 28-Apr-22 Interim Dividend – Rs. – 2.0000 REGENCERAM 28-Apr-22 E.G.M.

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