Morning-Outlook-Feature-Image

Morning-outlook-29april

NIFTY:

Nifty opened at 17189.50 with a big gap up of 151points.The index first moved down but found support around the 17050 – 17100 zone and then bounded up. Prices have recorded its intraday low at 17071.05 after moving down about one and half hours from the open and then rallied almost 250 points to record its intraday high at 17322.50.The rally was very sharp and smooth. Prices have seen a sharp correction in the last 30 minutes of trading and finally closed at 17245.05 above the opening tick with a gain of 206.65 point Or 1.21%up.All the sectoral indices have seen an upside move today except the MEDIA which ended with a loss of 3.15%.FMCG, IT, BANK, and OIL GAS led the bulls today and ended more than 1% higher.

So far, the week is moving very narrow indicating a process of consolidation. That we could also see in the chart as NIFTY is moving inside the 17000-17500 range from the last nine trading days.

The short-term trend is sideways suggesting a move can come in either side of the market. As of now, we should avoid trading the index and wait for decisive breakout from the current trading range.

BANK NIFTY:

Bank Nifty opened at 36189.95 wit h a gap up of 144 points. The index first moved down, filled the gap, and recorded its intraday low < 35951.10. Prices find strong support there and bounced to record its intraday high at 36501.10. The index consolidated in the last 30 minutes of trade and finally closed at 36424 wit ha gain of 379 points. VT and PSU BANKS both indices have performed well today, saw an intraday rally, and finally closed higher by 0.97% & 0.52% down. Within the in terms of points, ICIClBANK contributed the highest while BANK BARODA contributed the lowest.

The index is moving very volatile and random. Especially in the last four trading days, random gaps occurred. We should now wait fora decisive breakout Since the range is very narrow so we may see a breakout sooner rather than later. Till then avoid trading the index.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
NAUKRI 4663 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 4620 and for the target of  4750.
LALPATHLAB 2681 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 2675 with a stop loss of 2710 and target of 2620.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
SUNPHARMA 930 CE BUY 25 CMP 18 50 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
DALBHARAT.Apr 28 1551.45 0.01 17.14 205000 LALPATHLAB.Apr 28 2630.85 -5.2 37.42 206125
APOLLOHOSP.Apr 28 4525.3 0.02 39.6 416000 BALKRISIND.Apr 28 2143.5 -3.06 23.92 234200
LUPIN.Apr 28 743.9 0.03 3.03 1591200 LAURUSLABS.Apr 28 565.05 -2.64 5.91 2872800
AMBUJACEM.Apr 28 385.1 0.05 9.23 6583500 HINDALCO.Apr 28 487.4 -1.32 17.97 9535250
MPHASIS.Apr 28 2797.95 0.1 0.34 357525 PEL.Apr 28 2137.6 -1.27 24.04 779075
                                                                        Short Covering                                                                       Long Unwinding
PNB.Apr 28 35.45 0 -2.96 1.02E+08 IEX.Apr 28 214.5 -2.23 -7.68 10957500
MRF.Apr 28 71950 0.03 -39.17 6320 BAJAJ-AUTO.Apr 28 3819.95 -2.03 -62.61 130500
TATACHEM.Apr 28 964 0.06 -5.09 895000 APOLLOTYRE.Apr 28 206.9 -1.69 -6.66 2907500
BEL.Apr 28 247 0.08 -5.21 5392200 ATUL.Apr 28 8828 -1.56 -70.97 4725
DELTACORP.Apr 28 270.75 0.09 -1.59 4554000 GUJGASLTD.Apr 28 511 -1.56 -10.53 701250

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Honeywell Auto India Ltd 41069.8 0.52 5478 0 83.59 Nifty50 17245.05 1.21 86016
Infosys Limited 1582.6 1.92 9245177 0 76.79 Niftybank 36422.2 1.09 86016
Power Finance Corporatio 118.8 0.08 5892788 0 73.77 Nifty it 31914.35 1.01 86016
Pfizer Ltd. 4337.35 2.53 81563 0 72.56 India Vix 19.38 -5.92 86016
Icici Bank Ltd. 747.15 1.42 18649559 0 67.49 Nifty Fmcg 38460.25 2.19 86013
Sbi Life Insurance Compa 1116.85 3.97 1643102 0 66.48 Nifty Pharma 13480 0.91 86013
Hcl Technologies Ltd. 1092.5 -0.28 5202061 0 65.81 Nifty Realty 449.1 0.85 86013
Oracle Fin Serv Soft Ltd 3526.75 0.65 52029 0 64.82 Nifty Auto 11192.05 0.3 86013
Ipca Laboratories Ltd. 1025.75 2.05 239380 0 64.63 Nifty Metal 6362.4 0.65 86013
Indus Towers Limited 210.4 1.42 3232253 0 64.44 Nifty Financial Services 16713.15 0.94 86016

UPCOMING ECONOMIC DATA

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

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

•USD:  ISM Manufacturing PMI (Apr) on 2nd May 2022

NEWS UPDATES

  • Tata Motors expects to aggressively ramp up annual production of electric vehicles (EVs) to more than 80,000 units this financial year, sources with knowledge of the matter told Reuters. That compares with the 19,000 EVs it built and sold in the last financial year.

  • Sterlite Technologies on Thursday reported a consolidated loss of Rs 22.44 crore in the fourth quarter ended March 31, 2022. The company had posted a net profit of Rs 124 crore in the same period a year ago. The revenue from operations of Sterlite Technologies (STL) grew by 7.2 per cent to Rs 1,581.97 crore during the reported quarter from Rs 1,475.01 crore in the year-ago period.

  • Persistent Systems is set to achieve its long-held aspiration of the yearly revenue rate touching USD 1 billion by the September 2023 quarter, a top official said on Thursday. The Pune-headquartered company posted a 42 per cent jump in revenue to USD 217 million in the March quarter, when it witnessed a 45.9 per cent growth in net profit at Rs 200.9 crore.

  • Bajaj Finserv Ltd on Thursday reported a 37 per cent jump in its consolidated net profit at Rs 1,346 crore for the fourth quarter ended in March 2022. The company had posted a net profit of Rs 979 crore during the corresponding period of 2020-21. The consolidated income during the March 2022 quarter increased to Rs 18,862 crore, as against Rs 15,387 crore in the corresponding period of the previous financial year, Bajaj Finserv said in statement.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ADFFOODS General 29-Apr-22 LLOYDSME Final Dividend;General;A.G.M. 29-Apr-22
B2BSOFT Audited Results 29-Apr-22 LUHARUKA Audited Results;General 29-Apr-22
BIGBLOC Final Dividend;Audited Results;General 29-Apr-22 MARUTI Audited Results;Dividend 29-Apr-22
CANFINHOME Final Dividend;;General;Quarterly Results 29-Apr-22 MRP Audited Results 29-Apr-22
CITADEL Audited Results;Quarterly Results 29-Apr-22 RBLBANK General 29-Apr-22
COMFINCAP Audited Results;General 29-Apr-22 RPGLIFE Audited Results 29-Apr-22
DECCAN General;Preferential Issue of shares 29-Apr-22 SBICARD Audited Results 29-Apr-22
FRONTCAP Audited Results 29-Apr-22 SLSTLQ General 29-Apr-22
GEOJITFSL Final Dividend;Audited Results;General 29-Apr-22 SOLARA Audited Results;Dividend 29-Apr-22
GILLETTE Quarterly Results 29-Apr-22 SONATSOFTW Final Dividend;Audited Results 29-Apr-22
GNA Audited Results;Dividend 29-Apr-22 STARHEALTH Audited Results 29-Apr-22
GOKEX Audited Results 29-Apr-22 SUNFLAG General 29-Apr-22
HFCL Dividend;Quarterly Results 29-Apr-22 SUPREMEIND Final Dividend;Audited Results 29-Apr-22
INDUSINDBK Audited Results;Dividend 29-Apr-22 TANLA Final Dividend;Audited Results 29-Apr-22
JUSTDIAL General;Quarterly Results 29-Apr-22 TATACHEM Audited Results 29-Apr-22
KBCGLOBAL General 29-Apr-22 THYROCARE Audited Results;Dividend;ESOP 29-Apr-22
L&TFH Final Dividend;General;Quarterly Results 29-Apr-22 ULTRACEMCO Final Dividend;Audited Results 29-Apr-22
LKPSEC Final Dividend;Preferential Issue 29-Apr-22 WIPRO Audited Results;Quarterly Results 29-Apr-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
AVROIND 29-Apr-22 E.G.M. SKRABUL 29-Apr-22 E.G.M.
ELANTAS 29-Apr-22 Dividend – Rs. – 5.0000 FOSECOIND 02-May-22 Final Dividend – Rs. – 25.0000
SHAHALLOYS 29-Apr-22 E.G.M. HAVISHA 02-May-22 E.G.M.
SHUKJEW 29-Apr-22 E.G.M. GATEWAY 04-May-22 Interim Dividend – Rs. – 1.2500

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