Morning-Outlook-Feature-Image

Morning-Outlook-6april

NIFTY

Nifty opened at 18080.60 with a gap up of just 27 points. The index could not continue its bullish momentum from yesterday and started drifting downwards. Prices have seen a down move of more than 100 points and came close to 17950. The index bounced up, recovered all the losses that came during the day, and recorded its intraday high at 18095.45. The NIFTY could not sustain there for long-ago in moved down, this time with more intensity, and recorded its intraday low at 17921.55 and finally closed at 17957.40 with a loss of 96 points or 0.53% down. We have seen some mixed performance on the sectoral front. AUTO,FMCG outperformed today while BANK, FINANCIAL underperformed today.IT, PHARMA ended one a flat note.

The last two days of high around 18100 should now act as a resistance. A strong support zone is visible around the 17600 – 17800 range. The current correction should find support within this zone if the index continues its bullish momentum after the dip. Hence buying opportunity will emerge either on a close above 18100 or holding of 17600 – 17800 support zone. As mentioned yesterday, “The index has gained more than 6% in the last six trading days. After such a sharp move price tend to move narrow or see a correction .

BANK NIFTY:

Bank Nifty opened at 38731.30 wit h a gap up of 131 points. The index recorded its intraday high at 38759.25 a few ticks above the opening tick and moved down. Prices finds support around 38100, turned up but soon the rally fizzled out. A sharp decline brought prices to its intraday low at37935.95 and the index finally closed at 37964.45 with a loss of 636 points. PVT BANKS have underperformed today and ended wit h a loss of 1.53%. PSU BANKS have performed well today and closed wit h a gain of 0.47%. Within the index, in terms of points, PNB contributed the highest while HDFC BANK contributed the lowest

The short-term trend is up and prices have rallied almost 3700 points (more than 10%) from its swing lows to its swing highs. After such a sharp move price tend to consolidate or correct. We should now wait for the one and then we will plan our trade accordingly.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
POLYCAB 2654 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 2630 and for the target of 2700
SBICARD 839 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 838 with a stop loss of 845 and target  of 825.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
BSOFT 500 CE BUY 23 CMP 15 40 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
HINDALCO.Apr 28 585.85 0.02 3.78 25329150 FEDERALBNK.Apr 28 98.45 -4.51 31.84 80290000
TATACHEM.Apr 28 1007.45 0.02 0.13 5385000 SBICARD.Apr 28 844.5 -3.98 84.05 7106000
OFSS.Apr 28 3687.95 0.03 1.25 526625 HDFCBANK.Apr 28 1605.5 -2.49 0.6 40428850
BIOCON.Apr 28 348.6 0.07 0.19 14319800 KOTAKBANK.Apr 28 1799.15 -2.28 1.36 16736400
COALINDIA.Apr 28 188.75 0.11 1.67 34419000 BAJAJFINSV.Apr 28 16900.85 -2.19 10.22 653150
                                                                        Short Covering                                                                       Long Unwinding
FSL.Apr 28 133.35 0.19 -0.57 14037400 DELTACORP.Apr 28 326.45 -2.71 -1.98 13121500
L&TFH.Apr 28 86.1 0.23 -3.73 43790068 INDUSINDBK.Apr 28 973.4 -1.73 -0.5 24222600
SUNTV.Apr 28 501.4 0.34 -0.05 12813000 BAJFINANCE.Apr 28 7404.95 -1.68 -0.85 4110000
ZYDUSLIFE.Apr 28 367.2 0.48 -0.41 18285300 BANKNIFTY.Apr 28 38019.9 -1.63 -1.71 2202000
ASIANPAINT.Apr 28 3152 0.54 -0.01 5284050 FINNIFTY.Apr 26 18014.9 -1.4 -48.57 1440

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Gujarat State Petronet l 282.15 2.99 2224457 0 69.8 Nifty50 17957.4 -0.53 76263
Tech Mahindra Limited 1489.05 -0.64 3207204 0 68.94 Niftybank 38067.9 -1.47 76263
Infosys Limited 1861.1 -1.16 5471978 0 67.1 Nifty it 36466.55 0.06 76263
Hcl Technologies Ltd. 1195.45 0.71 2634464 0 66.18 India Vix 18.49 3.24 76263
Icici Lombard General In 1351.85 0.14 175565 0 65.59 Nifty Fmcg 37656.8 1.25 76263
Petronet Lng Limited 199.6 0.66 1848800 0 63.86 Nifty Pharma 13809.25 0.15 76263
Coromandel International 824.05 2.06 984765 0 63.84 Nifty Realty 474.9 -0.26 76263
Indus Towers Limited 220.4 -0.16 1889153 0 63.04 Nifty Auto 10936.5 1.23 76263
Tata Consultancy Serv Lt 3814.8 1.18 2314895 0 62.45 Nifty Metal 6640.45 0.52 76263
Astral Limited 2045.6 3.29 508549 0 61.45 Nifty Media 2448.2 -0.26 76263
Colgate Palmolive (india 1586.7 1.57 235996 0 60.94 Nifty Financial Services 17989.3 -1.58 76263

UPCOMING ECONOMIC DATA

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

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

•USD:  Crude Oil Inventories on 6th April, 2022

•USD:  Initial Jobless Claims on 7th April, 2022

NEWS UPDATES

  • HDFC Tata Power Solar has commissioned a 160 MW AC solar project at Jetstar in Rajasthan. Around 6,75,000 monocrystalline PV modules were used in this installation and it will produce 387 million units of energy per year, according to a statement. Tata Power Solar has commissioned a 160 MW AC solar project at Jetstar in Rajasthan. Around 6,75,000 monocrystalline PV modules were used in this installation and it will produce 387 million units of energy per year, according to a statement.
  • Larsen & Toubro (L&T) on Tuesday said its transportation infrastructure business has secured various orders from prestigious clients. The company did not provide the value of the contracts, but said the orders fall under the “significant” category, which ranges between Rs 1,000 crore and Rs 2,500 crore according to the classification of contracts.
  • Adani Power has received Rs 3,000 crore dues with interest from the state-owned power distribution companies of Rajasthan as compensation for higher fuel costs. Shares of Adani Power hit 10% upper circuit on the Bombay Stock Exchange on Tuesday, a 52-week high at Rs 233 apiece.
  • India is considering seeking around 500 billion rupees ($6.6 billion) next month from the initial public offering of state-owned Life Insurance Corp., people with knowledge of the matter said. The government is discussing selling as much as a 7% stake in LIC through the listing.
  • Air conditioner companies are yet again increasing the prices of their products by around 3-4 per cent this summer, after the previous hike of around 5-8 per cent in January 2022. The industry is still expecting growth in sales on the back of pent-up demand and soaring temperatures.
Source: Economic Times,  Indian Express  ,Business Today, Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ASIANTILES General;Right Issue of Equity Shares 06-Apr-22 DECANBRG Quarterly Results;General; Results 07-Apr-22
CHITRTX Preferential Issue of shares 06-Apr-22 INFRATRUST General 07-Apr-22
DARSHANORNA Stock  Split 06-Apr-22 MODINATUR Preferential Issue of shares 07-Apr-22
EQUIPPP General 06-Apr-22 SWSOLAR Quarterly Results;Audited Results 07-Apr-22
GENNEX Rights Issue;General 06-Apr-22 CESL Scheme of Arrangement 08-Apr-22
IDFC Interim Dividend 06-Apr-22 GBFL General 08-Apr-22
MAYURUNIQ General 06-Apr-22 GTPL Final Dividend;Audited Results 08-Apr-22
SIEL General 06-Apr-22 HIPPOCABS Half Yearly Results;Audited Results 08-Apr-22
SNIM Consolidation of Shares 06-Apr-22 ICSL Audited Results 08-Apr-22
SPMLINFRA General 06-Apr-22 KLKELEC Quarterly Results;Audited Results 08-Apr-22
VGIL General 06-Apr-22 LATIMMETAL Stock  Split 08-Apr-22
WAAREERTL Employees Stock Option Plan 06-Apr-22 LGBFORGE Quarterly Results 08-Apr-22
ARL General 07-Apr-22 PANORAMA General 08-Apr-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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/-
SUPPETRO 07-Apr-22 Reduction of Capital BALFC 12-Apr-22 Stock  Split From Rs.10/- to Rs.2/-

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