Morning-Outlook-Feature-Image

Morning-Outlook-6april

NIFTY:

Nifty opened at 17842.75 with a gap down of 115 points. The index saw a minor rally, recorded its intraday high and then started drifting downwards. Prices have seen a sharp down move of more than 100 points and recorded its intraday low at 17779.85. Prices again bounce its day highs. The rally could not sustain there and again moved down towards its day lows and the index finally closed at 17807.65 with  0.83% down. The METAL and 01L GAS outperformed today and closed with a gain of 1.35% & 0.88% respectively. The rest of the sectoral today led by the IT, BANK, and FINANCIAL.

It was again a volatile day today where prices have seen two sharp declines and two sharp rallies. Yesterday we discussed two important levels in the index. The 18100 levels should now act as resistance while a strong support in the 17600 – 17800 range. Hence buying opportunity will emerge either on a close above 18100 or holding of 17600 – 17800 support zone.  The current support within this zone if the index continues its bullish momentum after the dip

BANK NIFTY:

BANK NIFTY opened at 37711.30 with a ga p down of 253 points. The index continued its bearish momentum, and recorded its intraday low at 37513.85. Prices than bounced up, broke its early morning highs and recorded its intraday high moved down, came close to its intraday lows and finally closed at 37855.80 with a loss of 376 points. PVT BANKS have underperformed today and ended with a loss of 1.28%. Within the index, in terms of points, SBIN 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 high: correction. We should now wait for this correction to be over.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
BHARTIARTL 775 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 770 and for the target of 785
IRCTC 791 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 790 with a stop loss of 800 and target  of 780.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
RELIANCE CE BUY 66 CMP 50 100 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
INDHOTEL.Apr 28 253.25 6.92 14.38 24594530 IRCTC.Apr 28 784.4 -4.41 14.61 12782000
TATAPOWER.Apr 28 289.85 5.46 7.89 1.08E+08 MARICO.Apr 28 522 -4.3 8.35 8049000
SAIL.Apr 28 111.2 4.51 7.8 1.55E+08 RAIN.Apr 28 197.4 -4.2 5.31 6440000
CONCOR.Apr 28 716 4.16 6.22 6396000 MPHASIS.Apr 28 3212.7 -3.62 6.32 1604750
NATIONALUM.Apr 28 130.9 3.81 5.08 92080500 HDFC.Apr 28 2544.25 -3.43 5.01 19748700
                                                                        Short Covering                                                                       Long Unwinding
GSPL.Apr 28 284.15 0.18 -0.6 2534700 BANKNIFTY.Apr 28 37724 -1.09 -1.3 2086500
ASIANPAINT.Apr 28 3165.45 0.39 -0.35 5194650 ATUL.Apr 28 9940.35 -0.85 -1.56 161325
COROMANDEL.Apr 28 832 0.59 -3.11 1384375 NIFTY.Apr 28 17864.85 -0.85 -3.3 10571150
LICHSGFIN.Apr 28 388.45 0.65 -1.14 24152000 PFIZER.Apr 28 4466.45 -0.66 -1.72 135625
ASHOKLEY.Apr 28 124.65 0.65 -1 39078000 BAJAJFINSV.Apr 28 16805.05 -0.6 -0.02 618500

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Max Financial Services l 776.6 -0.42 336563 0 78.12 Nifty50 17807.4 -0.83 76263
Icici Prudential Life In 516.5 1.64 2016994 0 67.53 Niftybank 38067.9 -1.47 76263
Gmr Infrastructure Limit 40.9 3.54 14368192 0 66.86 Nifty it 36466.55 0.06 76263
Tech Mahindra Limited 1459.35 -1.99 2627895 0 66.61 India Vix 18.49 3.24 76263
Sbi Cards And Payment Se 854.1 1.8 5034995 0 66.04 Nifty Fmcg 37656.8 1.25 76263
Reliance Industries Ltd 2619.05 -0.27 5656703 0 65.3 Nifty Pharma 13809.25 0.15 76263
Crompton Greaves Consume 382.2 0.39 1929072 0 63.34 Nifty Realty 474.9 -0.26 76263
Infosys Limited 1828.85 -1.73 5407453 0 61.27 Nifty Auto 10936.5 1.23 76263
Hcl Technologies Ltd. 1170.5 -2.09 2838968 0 59.13 Nifty Metal 6640.45 0.52 76263
Ipca Laboratories Ltd. 1022.35 -0.98 576365 0 58.45 Nifty Media 2448.2 -0.26 76263
Torrent Pharma Ltd. 2733.25 -1.9 152465 0 58.06 Nifty Financial Services 17989.3 -1.58 76263

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: FX Reserves, USD on  8th April, 2022

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

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

•USD:  FOMC Member Bostic Speaks on 7th April, 2022

NEWS UPDATES

  • Tata Motors is actively considering tapping into some of the export markets beyond South Asia, for its range of electric vehicles (EVs) as it sees an opportunity of selling affordable EVs in markets outside India. The export plans will coincide with the commercial launch of the Curvve – an electric SUV concept that broke cover on Wednesday, in two years from now, Shailesh Chandra, MD, Tata Motors PVs and Electric Mobility, told Business Standard.
  • The proposed merger of HDFC Bank and HDFC Ltd will moderately hurt the lender’s profitability in the next 2-3 years, driven by higher funding costs to meet the regulatory liquidity norms, global rating agency Moody’s Investors Service said on Wednesday. The rating agency, however, affirmed all the ratings of HDFC Bank, including the Baa3 long-term local and foreign current deposit ratings and Ba3(hyb) Additional Tier 1 securities rating.
  • Invesco Developing Markets, the largest shareholder of Zee Entertainment Enterprises, is selling 7.8 per cent stake worth Rs 2,200 crore in the entertainment major via block deals on Thursday. Invesco owns 18.8 per cent stake in Zee and has supported the merger between Zee and Sony Entertainment.
  • ndia’s Bharat Petroleum Corp Ltd has bought 2 million barrels of Russian Urals for May loading from trader Trafigura, two sources familiar with the purchase said. Refiners in India, the world’s third biggest oil importer and consumer, have been snapping up Russian oil through spot deals since Russia’s invasion of Ukraine on Feb. 24, taking advantage of deep discounts as other buyers back away.

 

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ARL General 07-Apr-22 KLKELEC Audited Results;Quarterly Results 08-Apr-22
DECANBRG Audited Results;General 07-Apr-22 LATIMMETAL Stock  Split 08-Apr-22
INFRATRUST General 07-Apr-22 LGBFORGE Quarterly Results 08-Apr-22
MODINATUR Preferential Issue of shares 07-Apr-22 MCCHRLS-B General 08-Apr-22
SWSOLAR Audited Results;Quarterly Results 07-Apr-22 PANORAMA General 08-Apr-22
ADANIENT Preferential Issue of shares 08-Apr-22 PFS Quarterly Results 08-Apr-22
ADANIGREEN Preferential Issue of shares 08-Apr-22 SINDHUTRAD Bonus issue;General 08-Apr-22
ADANITRANS Preferential Issue of shares 08-Apr-22 DARSHANORNA Audited Results 09-Apr-22
CESL Scheme of Arrangement 08-Apr-22 DECCAN General;Preferential Issue of shares 09-Apr-22
GBFL General 08-Apr-22 SMGOLD Audited Results 09-Apr-22
GTPL Audited Results;Final Dividend 08-Apr-22 UNISTRMU Audited Results 09-Apr-22
HIPPOCABS Audited Results;Half Yearly Results 08-Apr-22 VEGETABLE General 09-Apr-22
ICSL Audited Results 08-Apr-22 ROLTA Quarterly Results 10-Apr-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
BHAGCHEM 07-Apr-22 Right Issue of Equity Shares NARAYANI 07-Apr-22 Resolution Plan -Suspension
DISAQ 07-Apr-22 Interim Dividend – Rs. – 150.0000 SUPPETRO 07-Apr-22 Reduction of Capital
DWARKESH 07-Apr-22 Interim Dividend – Rs. – 2.0000 VIPULORG 07-Apr-22 Bonus issue 1:4
EDELWEISS 07-Apr-22 Interim Dividend – Rs. – 0.2500 ANGELONE 08-Apr-22 Interim Dividend – Rs. – 7.0000
EKI 07-Apr-22 Interim Dividend – Rs. – 20.0000 DATASOFT 08-Apr-22 E.G.M.
FILATEX 07-Apr-22 Buy Back of Shares ASIANTILES 11-Apr-22 Right Issue of Equity Shares
JOHNPHARMA 07-Apr-22 Bonus issue 1:10 BMW 11-Apr-22 Interim Dividend – Rs. – 0.0200
KKALPANAIND 07-Apr-22 Spin Off PCBL 11-Apr-22 Stock  Split From Rs.2/- to Rs.1/-

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