Morning-Outlook-Feature-Image

Morning-Outlook-6april

NIFTY:

Nifty opened at 17723.30 with a gap down of 84 points. The index continued its bearish momentum and continued moving downwards. Support came around 17650 – 1680 and prices bounced up. A sharp rally takes place of about 120 points in the afternoon and prices have recorded its intraday high at 17787.50 and then face strong resistance there. A decline then started that broke the early morning low and brought prices to its intraday low at 17623.70. The index finally closed at 17639.55 with a loss of 168.10 points or 0.94% down. The PHARMA outperformed today and ended with a gain of nearly half percent. OIL GAS, IT,MEDIA, and METAL underperformed today and ended with a loss of more than 1%. After a short-term correction, it is currently trading near the important support level around 17600. If NIFTY holds 17600 support then it is very likely that we may see a trading range somewhere between 17600 -18100 zones. Holding of 17600 will suggest us a buying opportunity. But if it breaks then the next support could emerge around 17000. This will also suggest us taking short trade only on an intraday basis. The summary here is to wait for one or two days more and then we will plan our trades accordingly.

BANK NIFTY:

BANK NIFTY opened at 37421.75 wit h a gap down of 167 points. The index recorded its intraday low at 37346.80 and then started a process of consolidation. Prices have seen a breakout and rallied higher to record its intraday high at 37975.90. The index again moved down and finally closed at 37557.35 without much of a change when compared to yesterday’s closing price. PSU and PVT BANKS both have performed almost same today, saw a minor decline and ended with a loss of 0.36%& 0.23% respectively. Within the index, in terms of points, AXIS BANK contributed the highest while ICICI BANK contributed the lowest. Strong resistance is visible around 39000 while support should emerge around 37000. As mentioned yesterday, “any dip towards the support level is a buying opportunity if index holds this level.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
NAUKRI 4818 BUY The stock is on the verge of giving the breakdown on the intraday as well as the daily chart. The stock can be buy  with a stop loss of 4790 and for the target of  4880.
TITAN 2458 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 2450 with a stop loss of 2480 and target  of  2400.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
TCS 3600 PE BUY 58 CMP 40 95 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
INDIGO.Apr 28 1987.2 0.02 1.74 2711500 IDFC.Apr 28 63.3 -6.22 4.98 1.13E+08
DALBHARAT.Apr 28 1599.2 0.03 0.04 1289250 NAM-INDIA.Apr 28 338.35 -3.88 6.53 3052800
ASIANPAINT.Apr 28 3163.1 0.03 1.08 5182950 TATAPOWER.Apr 28 280.1 -3.66 2.89 1.04E+08
ULTRACEMCO.Apr 28 6751.95 0.05 0.53 2072800 CONCOR.Apr 28 689.35 -3.45 0.18 6332000
HEROMOTOCO.Apr 28 2354.75 0.11 0.62 3971400 DIXON.Apr 28 4460 -3.25 6.93 605875
                                                                        Short Covering                                                                       Long Unwinding
SUNTV.Apr 28 501.15 0.05 -0.22 12672000 NATIONALUM.Apr 28 125.65 -3.9 -2.34 88714500
UPL.Apr 28 808.1 0.09 -0.03 23842000 ADANIPORTS.Apr 28 824.15 -3.25 -0.84 78832500
MGL.Apr 28 823.5 0.15 -0.2 3015600 ADANIENT.Apr 28 2114 -2.36 -0.74 19211000
INDIACEM.Apr 28 222.85 0.18 -0.12 14195500 L&TFH.Apr 28 85.7 -2.17 -0.21 41487676
EICHERMOT.Apr 28 2550.8 0.29 -0.16 3357200 ONGC.Apr 28 170 -2.07 -0.93 58250500

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Indus Towers Limited 218.5 0.67 5650354 0 71.06 Nifty50 17639.55 -0.94 79674
Honeywell Auto India Ltd 40972.85 3.28 4793 0 69.78 Niftybank 37557.35 -0.2 79674
Icici Prudential Life In 521.55 0.98 1371691 0 69.66 Nifty it 35423.25 -1.25 79674
Sbi Life Insurance Compa 1108.85 0.16 966698 0 67.45 India Vix 19 -0.12 79671
Hindustan Unilever Ltd 2164.8 1.06 1824732 0 67.4 Nifty Fmcg 37561.7 -0.07 79674
Reliance Industries Ltd 2572.85 -1.76 7151632 0 64.36 Nifty Pharma 13815 0.41 79674
Infosys Limited 1811 -0.98 5797544 0 64.3 Nifty Realty 473.85 0.03 79674
Larsen & Toubro Limited 1826.3 -1.43 2003954 0 62.71 Nifty Auto 10820.7 -0.79 79674
Hdfc Life Insurance Comp 559 0.57 3159512 0 62.41 Nifty Metal 6618.35 -1.66 79674
Syngene 610.15 0.13 231187 0 62.38 Nifty Financial Services 17577.4 -0.71 79674

UPCOMING ECONOMIC DATA

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

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

•USD:  Core CPI (YoY) (Mar) on 12th April, 2022

NEWS UPDATES

  • After two years of lull, India’s sugar consumption is set to hit record highs in the current summer season as demand from bulk consumers such as cold drink and ice cream-makers rises after the lifting of COVID-19 restrictions, industry officials said. India’s sugar consumption in the 2021/22 marketing year that ends on Sept. 30 is set to rise by nearly 3% from a year ago to an all-time high of 27.2 million tonnes, according to the Indian Sugar Mills Association (ISMA).
  • Tata Motors on Thursday said it has bagged an order for 1,300 commercial vehicles from VRL Logistics. The order comprises medium and heavy commercial vehicle and intermediate & light commercial vehicle range, suited for logistics operations of VRL Logistics, the Mumbai-based automaker said in a statement. The vehicles were selected basis the superior drivability, high fuel efficiency and low total cost of ownership, which will enable VRL Logistics to increase its fleet efficiency.
  • Bank of Maharashtra on Thursday announced the execution of a share purchase to divest its entire stake of 4% in India SME Asset Reconstruction Company (ISARC). The bank will divest its entire stake in ISARC for a consideration of ₹3.92 crore. The transaction is expected to close by December 2022-end.
  • With Indian IT services companies are set to announce their fiscal fourth quarter earnings (Q4FY22) beginning next week, investors will keep an eye on both the numbers and trends. As per sector analysts, demand outlook for Indian IT services companies remains robust on the back of strong tailwinds for the industry following digital and cloud transformation initiatives with enterprise clients.
Source: Economic Times,  Indian Express  ,Business Today, Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ADANIENT Preferential Issue of shares 08-Apr-22 SINDHUTRAD Bonus issue;General 08-Apr-22
ADANIGREEN Preferential Issue of shares 08-Apr-22 DARSHANORNA Audited Results 09-Apr-22
ADANITRANS Preferential Issue of shares 08-Apr-22 DECCAN General;Preferential Issue of shares 09-Apr-22
CESL Scheme of Arrangement 08-Apr-22 SMGOLD Audited Results 09-Apr-22
GBFL General 08-Apr-22 TIMETECHNO General 09-Apr-22
GTPL Audited Results;Final Dividend 08-Apr-22 TRISHAKT Preferential Issue of shares 09-Apr-22
HIPPOCABS Audited Results;Half Yearly Results 08-Apr-22 UNISTRMU Audited Results 09-Apr-22
KLKELEC Audited Results;Quarterly Results 08-Apr-22 VEGETABLE General 09-Apr-22
LATIMMETAL Stock  Split 08-Apr-22 ROLTA Quarterly Results 10-Apr-22
LGBFORGE Quarterly Results 08-Apr-22 SANDUMA Right Issue of Equity Shares 10-Apr-22
MCCHRLS-B General 08-Apr-22 7NR Right Issue of Equity Shares;General 11-Apr-22
PANORAMA General 08-Apr-22 BETXIND General 11-Apr-22
PFS Quarterly Results 08-Apr-22 BIRLATYRES Audited Results;Quarterly Results 11-Apr-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ANGELONE 08-Apr-22 Interim Dividend – Rs. – 7.0000 JYOTISTRUC 12-Apr-22 E.G.M.
DATASOFT 08-Apr-22 E.G.M. SANOFI 12-Apr-22 Final Dividend – Rs. – 181.0000
ASIANTILES 11-Apr-22 Right Issue of Equity Shares SANOFI 12-Apr-22 Special Dividend – Rs. – 309.0000
BMW 11-Apr-22 Interim Dividend – Rs. – 0.0200 WORL 12-Apr-22 Bonus issue 2:1
PCBL 11-Apr-22 Stock  Split From Rs.2/- to Rs.1/- MAHINDCIE 13-Apr-22 Final Dividend – Rs. – 2.5000
ADCON 12-Apr-22 Stock  Split From Rs.10/- to Rs.1/- DUCON 18-Apr-22 Bonus issue 1:10
ARIHCAPM 12-Apr-22 Stock  Split From Rs.5/- to Rs.1/- INFRATRUST 18-Apr-22 Income Distribution (InvIT)
BALFC 12-Apr-22 Stock  Split From Rs.10/- to Rs.2/- VSL 18-Apr-22 Stock  Split From Rs.10/- to Rs.2/-

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