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 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.


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.


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


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


   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


  • 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


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


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/-

Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited,
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting, or emailing with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail
Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website:
EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
2. Compensation
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL