morning-outlook-4april

NIFTY

Nifty opened at 17809.10 with a big gap up of 139 points. The index recorded its intraday low at 17791.40 a few ticks below the opening prices and bounced up. Prices have rallied very sharply for the next one hour of trading and recorded its intraday high at 18114.65.The index finds resistance there and moves down. The decline found support around 17900 and again moved up and reached almost at its morning highs. The index finally closed at 18053.40 with a gain of 382.95 points or 2.17% up. All the sectoral indices have closed with gains today. The BANK and FINANCIAL led the bulls today and ended 4% higher. IT and REALTY underperformed today and ended with minor gains.

The NIFTY continued its bullish momentum from the previous week and rallied higher. The index has gained more than 6% in the last six trading days in which, more than 3% gains came in the last two trading days. After such a sharp move price tend to move narrow or see a correction. The upcoming focus of the market will be on earnings reports and the RBI meeting this week. The short-term trend is up and we should now wait for a dip to  buy again.

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 again of  793 points. PSU BANKS have outperformed today and ended with again of 3.99%. PVT BANKS have also performed well today and closed with a gain of 2.23%. Within the index, in terms of points, HDFC BANK contributed the highest followed by the SBIN.

A trading range inside 35500 – 36500 broken decisively on the upside and prices have closed above 37000. It was a trend day today on the upside where prices have recorded its intraday low near the opening tick and intraday high near the closing tick.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
ICICIBANK 746 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 736 and for the target of 765
CHOLAFIN 699 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 698 with a stop loss of 710 and target  of 680.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
HINDALCO 600 CE BUY 17 CMP 12 30 OI Increase

 

Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
TATACOMM.Apr 28 1245.3 0 3.79 3383600 CHOLAFIN.Apr 28 702.1 -1.36 4.88 8138750
PIIND.Apr 28 2864.95 0.02 0.32 1555250 MPHASIS.Apr 28 3320.2 -1.26 8.89 1429400
DLF.Apr 28 388.2 0.03 1.2 34848000 INFY.Apr 28 1889 -1.02 5.57 26946300
IOC.Apr 28 122.85 0.08 2.13 50596000 OBEROIRLTY.Apr 28 982.75 -0.66 0.13 3140900
ALKEM.Apr 28 3494.1 0.11 17.07 203000 GODREJPROP.Apr 28 1692.3 -0.58 2.67 4133675
                                                                        Short Covering                                                                       Long Unwinding
APLLTD.Apr 28 760 0.4 -0.81 1789900 INDHOTEL.Apr 28 240.3 -0.76 -1.23 20604706
MCX.Apr 28 1460.15 0.48 -1.24 2236500 CUMMINSIND.Apr 28 1131.3 -0.67 -5.21 1714800
TVSMOTOR.Apr 28 635.45 0.5 -3.21 7270200 SUNTV.Apr 28 499.95 -0.33 -0.67 12861000
SHREECEM.Apr 28 24820 0.58 -0.32 192225 CONCOR.Apr 28 684 -0.31 -1.67 6107200
CANBK.Apr 28 242.5 0.73 -0.37 41261400 TATACONSUM.Apr 28 791.3 -0.04 -0.25 9039600

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Persistent 4791.5 1.46 226085 0 72.68 Nifty50 18053.4 2.17 75444
Larsen & Toubro Limited 1826.35 2.03 1955280 0 72.43 Niftybank 38635.2 4 75444
Infosys Limited 1882.95 -1.08 7363669 0 71.79 Nifty it 36442.9 0.27 75444
Pfizer Ltd. 4417 1.56 43695 0 69.57 India Vix 17.91 -2.84 75444
Alembic Pharmaceuticals 755.8 0.42 167708 0 68.55 Nifty Fmcg 37191.75 1.31 75444
Tech Mahindra Limited 1498.65 0.78 1675274 0 68.14 Nifty Pharma 13789.25 1.54 75444
Coromandel International 807.4 1.3 481349 0 67.85 Nifty Realty 476.15 0.34 75447
Crompton Greaves Consume 374.45 0.42 1271530 0 67.48 Nifty Auto 10803.85 1.19 75447
Hindustan Unilever Ltd 2128.45 2.42 1692716 0 66.63 Nifty Metal 6606.1 1.99 75447
Hdfc Bank Ltd. 1656.8 10.01 48724669 0 65.88 Nifty Media 2454.65 1.41 75447
Tata Consultancy Serv Lt 3770.35 0.31 1472950 0 64.7 Nifty Financial Services 18277.2 4.64 75447

UPCOMING ECONOMIC DATA

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

INR: RBI Interest Rate decision on 8th April, 2022

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

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

NEWS UPDATES

  • HDFC Bank has asked the Reserve Bank of India (RBI) to choose from two options it is offering for stake holding in life insurance subsidiary HDFC Life. The lender wants either be allowed to hold a 47.82 per cent stake HDFC Ltd in the insurer or buy additional stake in the company from the market. The second option will let the lender become compliant with norms that banks can either above 50 per cent or 30 per cent stake in a life insurance venture.
  • Tata Power arm Tata Power Renewables has commissioned a 300 MW solar plant in Dholera, Gujarat with the country’s largest single-axis solar tracker system. The project will generate 774 MUs (million units) annually. Along with this, it will reduce approximately 704340 MT/year (tonnes per annum) of carbon emission. The installation entails 873012 Monocrystalline PV Modules.
  • Indian Oil Corporation (IOC), engineering major Larsen & Toubro (L&T), and green energy player ReNew Power said on Monday they will form a joint venture (JV) to develop the green hydrogen sector in India. “The JV will focus on developing Green Hydrogen projects in a time-bound manner to supply Green Hydrogen at an industrial scale.
  • The auction of 5G spectrum will be held on schedule and within the stipulated timeline, Minister for Communications Ashwini Vaishnaw said on Monday. His affirmation comes at a time when telecom regulator Trai’s 5G recommendations on spectrum pricing and other nuances, which were widely expected to come by March-end, have spilled over by a few days to early April.

 

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BHAGCHEM Right Issue of Equity Shares 05-Apr-22 DARSHANORNA Stock  Split 06-Apr-22
CANOPYFIN General 05-Apr-22 EQUIPPP General 06-Apr-22
DWL General 05-Apr-22 GENNEX General;Rights Issue 06-Apr-22
GILADAFINS Bonus issue 05-Apr-22 MAYURUNIQ General 06-Apr-22
INDINFR General 05-Apr-22 SIEL General 06-Apr-22
KHOOBSURAT General 05-Apr-22 SNIM Consolidation of Shares 06-Apr-22
MERMETL Increase in Authorised Capital;General 05-Apr-22 VGIL General 06-Apr-22
RUCHINFRA General 05-Apr-22 WAAREERTL Employees Stock Option Plan 06-Apr-22
SPSINT Preferential Issue of shares 05-Apr-22 ARL General 07-Apr-22
SRESTHA Increase in Authorised Capital;General 05-Apr-22 DECANBRG Audited Results;General;Quarterly Results 07-Apr-22
VBIND General 05-Apr-22 SWSOLAR Audited Results;Quarterly Results 07-Apr-22
ZMILGFIN Increase in Auth. Capital;Pref. Issue 05-Apr-22 CESL Scheme of Arrangement 08-Apr-22
CHITRTX Preferential Issue of shares 06-Apr-22 GBFL General 08-Apr-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
WIPRO 05-Apr-22 Interim Dividend – Rs. – 5.0000 SUPPETRO 07-Apr-22 Reduction of Capital
DISAQ 07-Apr-22 Interim Dividend – Rs. – 150.0000 VIPULORG 07-Apr-22 Bonus issue 1:4
DWARKESH 07-Apr-22 Interim Dividend – Rs. – 2.0000 ANGELONE 08-Apr-22 Interim Dividend – Rs. – 7.0000
EDELWEISS 07-Apr-22 Interim Dividend – Rs. – 0.2500 DATASOFT 08-Apr-22 E.G.M.
EKI 07-Apr-22 Interim Dividend – Rs. – 20.0000 BMW 11-Apr-22 Interim Dividend – Rs. – 0.0200
FILATEX 07-Apr-22 Buy Back of Shares PCBL 11-Apr-22 Stock  Split From Rs.2/- to Rs.1/-
JOHNPHARMA 07-Apr-22 Bonus issue 1:10 ADCON 12-Apr-22 Stock  Split From Rs.10/- to Rs.1/-
NARAYANI 07-Apr-22 Resolution Plan -Suspension ARIHCAPM 12-Apr-22 Stock  Split From Rs.5/- to Rs.1/-

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