morning-outlook-4april

NIFTY:

Nifty opened at 17436.90 with a minor gap down of just 28 points. The index recorded its intraday low at 17422.70 a few ticks below the opening prices and bounced up. Prices have rallied and come close to 17500 ­ 17550 levels and then formed a narrow trading range here. The whole afternoon prices have moved sideways and eventually broke on the upside. Another sharp rally came towards the end of today’s trading session and prices have recorded its intraday high at 17703.70. The index finally closed at 17670.45 with a gain of 205.70 points or 1.18% up. All the sectoral indices have closed with gains today except the PHARMA which ended 0.03% down. The BANK, REALTY, and OIL GAS outperformed today and ended with a gain of more than 2%.

A trading range inside 17000 ­ 17500 broke decisively on the upside which is giving us a pattern target of around 18000. Since prices have already rallied almost 700 points in the last five trading days, we may see one or two days of consolidation or even a dip. The short­term trend is up and the previous resistance around 17500 should now act as a support level. Any dip towards this level will be a buying opportunity in the index and on Monday, we should buy if the index comes at or below 17500 with a stop of 110 points and a target of 220 points.

BANK NIFTY:

BANK NIFTY opened at 36298.35 with a gap down of 73 points. The index recorded its intraday low at 36242.35 and started moving on the upside. Soon prices have started consolidating and eventually broke out on the upside. Prices have rallied higher and recorded its intraday high at 37209.80 and finally closed at 37164.15 with a gain of 793 points. PSU BANKS have outperformed today and ended with a gain of 3.99%. PVT BANKS have also performed well today and closed with a gain of 2.23%.

In last trading day, we suggested going long on a dip at or below 35900 or on a breakout above 36800. Prices have broken out 36800 during the day and we went long there. The trade is still intact as prices have neither touched the stop nor the target. Stay long with a stop at 36800 and a target at 37600.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
LT 1790 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 1775 and for the target of 1820
ATUL TTD 9870 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 9850 with a stop loss of 10020 and target  of 9650.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
SBIN 520 CE BUY 12 CMP 8 20 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
TORNTPHARM.Apr 28 2793.15 0.1 1237.09 712000 ESCORTS.Apr 28 1553.85 -8.16 2437.89 5304200
INDUSTOWER.Apr 28 222.4 0.14 32.31 15985200 ATUL.Apr 28 9842 -4.67 2532.56 169800
LTI.Apr 28 6182.9 0.18 2236.15 1201950 ALKEM.Apr 28 3493.9 -3.14 961.11 191000
JSWSTEEL.Apr 28 734.4 0.18 992.53 26253450 IPCALAB.Apr 28 1025 -2.79 1044.02 947250
INFY.Apr 28 1909.95 0.21 774.69 26836500 INTELLECT.Apr 28 919 -2.62 1421.65 1107000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Tata Consultancy Serv Lt 3758.75 0.5 1387014 0 73.67 Nifty50 17670.45 1.18 82527
Hcl Technologies Ltd. 1169.65 0.51 2479745 0 70.54 Niftybank 37148.5 2.13 82527
Honeywell Auto India Ltd 39764.75 0.22 1325 0 68.03 Nifty it 36343.4 0.07 82527
Icici Lombard General In 1348.6 1.53 212179 0 67.53 India Vix 18.43 -10.34 82527
Crompton Greaves Consume 372.9 -0.29 1901520 0 66.84 Nifty Fmcg 36712.15 1.17 82524
Power Grid Corporation o 225.05 3.81 29747971 0 66.71 Nifty Pharma 13579.9 -0.03 82524
Torrent Pharma Ltd. 2786.7 -0.19 92468 0 66.61 Nifty Realty 474.55 2.37 82524
Infosys Limited 1903.55 -0.17 6171518 0 66.51 Nifty Auto 10676.85 1.18 82527
Itc Ltd. 253.3 1.06 14305709 0 65.29 Nifty Metal 6477.2 0.83 82527
Icici Bank Ltd. 736.25 0.81 12658848 0 65.15 Nifty Media 2420.6 1.72 82527
Astral Limited 1980.7 -2.09 415551 0 64.82 Nifty Financial Services 17467.15 1.87 82527

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Nikkei Markit Manufacturing PMI (Mar) on 4th April, 2022

INR: Nikkei Services PMI (Mar) on 6th April, 2022

•USD:  ISM Non-Manufacturing PMI (Mar) on 5th April, 2022

•USD:  Trade Balance (Feb) on 5th April, 2022

NEWS UPDATES

  • Gail (India) Coal India Limited (CIL) on Friday reported a record coal production in FY22 at 622.6 million tonnes, registering an annual growth of 4.4 per cent. In 2020-21, coal production stood at 595.2 million tonnes (MT). Coal supplies to power generation companies during FY22 also touched a record of 540.4 MT, up 21.4 per cent as compared to 445 MT in FY21.

 

  • Asian Paints Ltd on Friday said it will acquire stake in two companies — White Teak and Weatherseal Fenestration — in a move to strengthen its presence in the fast-growing home improvement and dcor segment. Asian paints will acquire 100 per cent of Obgenix Software, popularly known by the brand name of White Teak, in a staggered manner over the next three years.

 

  • After bagging Utkal B1 and B2 coal block in the Angul-Talcher belt in the state, Jindal Steel & Power Limited (JSPL) on Friday said it would develop its Odisha plant into the largest and greenest facility in the world. This was stated by the company’s chairman Naveen Jindal. He said JSPL has secured sufficient reserves of coal to enable the mega steel company to enhance its capacity for green steel making.

 

  • Gross GST collection in March touched an all-time high of over Rs 1.42 lakh crore, the Finance Ministry said on Friday. The gross GST revenue collected in March 2022 is Rs 1,42,095 crore, of which CGST is Rs 25,830 crore, SGST is Rs 32,378 crore, IGST is Rs 74,470 crore (including Rs 39,131 crore collected on import of goods).

 

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BCONCEPTS Employees Stock Option Plan;General 04-Apr-22 EQUIPPP General 06-Apr-22
GARMNTMNTR Employees Stock Option Plan;Stock  Split 04-Apr-22 GENNEX Rights Issue;General 06-Apr-22
NILACHAL General 04-Apr-22 MAYURUNIQ General 06-Apr-22
RAJSPTR General 04-Apr-22 SIEL General 06-Apr-22
BHAGCHEM Right Issue of Equity Shares 05-Apr-22 SNIM Consolidation of Shares 06-Apr-22
CANOPYFIN General 05-Apr-22 DECANBRG Audited Results;Quarterly Results;General 07-Apr-22
DWL General 05-Apr-22 SWSOLAR Audited Results;Quarterly Results 07-Apr-22
GILADAFINS Bonus issue 05-Apr-22 CESL Scheme of Arrangement 08-Apr-22
INDINFR General 05-Apr-22 GBFL General 08-Apr-22
MERMETL Increase in Authorised Capital;General 05-Apr-22 ICSL Audited Results 08-Apr-22
RUCHINFRA General 05-Apr-22 LATIMMETAL Stock  Split 08-Apr-22
ZMILGFIN Increase in Auth. Capital;Pref. Issue 05-Apr-22 BETXIND General 11-Apr-22
DARSHANORNA Stock  Split 06-Apr-22 GOLECHA Quarterly Results 11-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 BMW 11-Apr-22 Interim Dividend – Rs. – 0.0200
EKI 07-Apr-22 Interim Dividend – Rs. – 20.0000 PCBL 11-Apr-22 Stock  Split From Rs.2/- to Rs.1/-

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