NIFTY:
The NIFTY opened at 17761.55 with a gap up of just 18 points. The index initially moved lower for the first few minutes of trading and then bounced up. Prices have recorded its intraday low at 17716.85 and saw a sharp intraday rally towards 7800. The index reached there and then started facing resistance. The NIFTY started a consolidation process and recorded its intraday high at 17807.45. Prices have finally closed at 17769.25 with a gain of just 25.85 points or 0.15% up. The METAL, OIL GAS, and REALTY outperformed today and closed with a gain followed by MEDIA underperformed today and ended with a loss of 0.72% followed by FINANCIAL and IT. The support is now visible around 17550 which is also the recent swing lows while resistance may emerge around 17800. We should look for buying.
BANK NIFTY:
The BANK NIFTY opened at 42731.60 with a gap up of 90 points. The index initially moved lower but soon found support after filling the gap and turned up. Prices have recorded its intraday low at 42601.50 and saw a modest rally. However, the up move faced resistance soon and then the index formed a consolidation which lasted till the end. The index recorded its intraday high at 42865.55 and finally closed at 42654.15 with a gain of just 13 points. PSU BANK has outperformed today, saw a sharp intraday rally, and closed with a gain of 1.31%. PVT BANK has also moved up today and closed with a gain of 0.12%. Within the index, in terms of points, ICICI BANK contributed the highest on the upside while HDFC BANK contributed the lowest. Support is now visible around 42000 which is also the recent swing low while resistance is visible around 43000. As far as prices are trading above 42000, we should look for buying only on any dip or consolidation breakout.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE |
| HAVELLS | 1215.90 | BUY | The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 1218.15 with a stop loss of 1206.75 and a target of 1237.80. |
| HDFC BANK | 1664.15 | SELL | The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 1661.90 with a stop loss of 1671.25 and a target of 1642.55. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| BAJAJ FINSERVE | 1340 CE | BUY | 17.20 | CMP | 13.50 | 24.80 | BREAKOUT |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| MARICO.23.04 Apr | 490.65 | 3.21 | 13.77 | 8300400 | CROMPTON.23.04 Apr | 261 | -11.31 | 21.84 | 4543500 | |
| BRITANNIA.23.04 Apr | 4414 | 2.12 | 1.33 | 1035200 | IPCALAB.23.04 Apr | 744.95 | -9.99 | 4.5 | 1749150 | |
| INDUSINDBK.23.04 Apr | 1121.05 | 1.53 | 8.35 | 16408350 | ICICIPRULI.23.04 Apr | 434.2 | -1.96 | 1.93 | 10222500 | |
| VEDL.23.04 Apr | 279.05 | 1.34 | 3.51 | 20622000 | HDFC.23.04 Apr | 2751.05 | -1.29 | 4.78 | 16338900 | |
| TORNTPHARM.23.04 Apr | 1639.05 | 1.18 | 34.5 | 1902500 | NMDC.23.04 Apr | 108.35 | -1.28 | 3.38 | 34645500 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| ABB.23.04 Apr | 3341.6 | 3.98 | -14.14 | 958250 | HDFCLIFE.23.04 Apr | 530.3 | -2.96 | -10.25 | 8822000 | |
| SHRIRAMFIN.23.04 Apr | 1431.5 | 2.49 | -15.55 | 2638800 | ZEEL.23.04 Apr | 187.55 | -2.82 | -14.14 | 35562000 | |
| ASHOKLEY.23.04 Apr | 139.95 | 2.38 | -5.73 | 45000000 | GODREJCP.23.04 Apr | 965.15 | -2.64 | -9.44 | 4373000 | |
| ADANIENT.23.04 Apr | 1848.65 | 2.3 | -24.49 | 4806000 | UPL.23.04 Apr | 712.95 | -2.29 | -25.01 | 6415500 | |
| BAJFINANCE.23.04 Apr | 6075.7 | 2.23 | -13.05 | 3122625 | HONAUT.23.04 Apr | 35375.85 | -1.77 | -4.11 | 11550 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Hindustan Unilever Ltd | 2490.45 | -0.37 | 1701098 | 1379522 | 79.47 | Nifty50 | 17769.25 | 0.15 | 88347 | |
| Marico Limited | 489.75 | 3.12 | 3869120 | 1577986 | 77.21 | Niftybank | 42678.5 | 0.1 | 88347 | |
| Dabur India Ltd. | 526.4 | 0.3 | 965836 | 1805098 | 75.24 | Nifty it | 26985.8 | -0.1 | 88347 | |
| Torrent Pharma Ltd. | 1642.3 | 1.29 | 363645 | 349115 | 75.22 | India Vix | 11.52 | -1.29 | 88341 | |
| Infosys Limited | 1224.9 | -0.11 | 6808576 | 6113775 | 73.54 | Nifty Fmcg | 47051.85 | 0.23 | 88347 | |
| Bharti Airtel Limited | 772.6 | 1.62 | 5773233 | 3820840 | 72.49 | Nifty Pharma | 12456.6 | 0.02 | 88347 | |
| Maruti Suzuki India Ltd | 8468.9 | 0.03 | 906406 | 382948 | 70.43 | Nifty Realty | 430.1 | 0.49 | 88347 | |
| Power Grid Corporation o | 232.9 | 0.41 | 6254028 | 2922345 | 68.06 | Nifty Auto | 12904.55 | 0.09 | 88347 | |
| Cipla Ltd | 909.65 | 0.74 | 2440358 | 1168985 | 65.49 | Nifty Metal | 5738.25 | 0.61 | 88347 | |
| Tata Consultancy Serv Lt | 3176 | 0.04 | 2024090 | 1072692 | 65.38 | Nifty Financial Services | 18961.85 | -0.16 | 88347 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Federal Fiscal Deficit (Mar) on 28th April, 2023
INR: Infrastructure Output (YoY) (Mar) on 28th April, 2023 |
USD: Core Durable Goods Orders (MoM) (Mar) on 26th April, 2023
USD: Crude Oil Inventories on 26th April, 2023 |
NEWS UPDATES
-
Benchmark indices ended on a positive note in a volatile session on April 25. Bajaj Finance, Adani Enterprises, Britannia Industries, Bajaj Finserv and IndusInd Bank were among the major gainers on the Nifty, while losers included HDFC Life, UPL, HDFC Bank, HDFC and Tech Mahindra.
-
Tata Consumer Products on April 25 reported consolidated net profit for the quarter ended March 2023 at Rs 268.59 crore, up 23.46 percent from Rs 217.54 crore in the same quarter last year. Revenue from operation came in at Rs 3,618.73 crore, registering a growth of 13.96 percent from Rs 3,175.41 crore in the year ago quarter, the company said in a regulatory filing..
-
The Mankind Pharma public issue kept analysts bullish all along the course of its launch today to garner Rs 4,326 crore. Mankind Pharma Ltd (MPL) develops and manufactures formulations across various acute and chronic therapeutic areas and owns a host of consumer healthcare brands. MPL has around 36 brands in its kitty, including Manforce, Prega News, Unwanted -72, Moxikind and Nurokind, with many of them featuring in the Top 10 league in the covered markets. Perhaps the strongest point for the company is that it is almost entirely focussed on the domestic market with 97.6 percent of sales coming from India.
Source: Economic Times, Indian Express, Business Today, Livemint, Business Standard, Bloomberg Quint
BOARD MEETINGS
| Company Name | Purpose | Meeting Date | Company Name | Purpose | Meeting Date |
| ADESHWAR | General | 26-Apr-23 | LTTS | Audited Results;Final Dividend | 26-Apr-23 |
| ANSHNCO | Audited Results;Quarterly Results | 26-Apr-23 | MARUTI | Audited Results;Final Dividend | 26-Apr-23 |
| BAJFINANCE | Audited Results;Final Dividend | 26-Apr-23 | MODWOOL | Audited Results;Quarterly Results | 26-Apr-23 |
| BALASORE | Audited Results | 26-Apr-23 | MRP | Audited Results | 26-Apr-23 |
| BIOCON | General | 26-Apr-23 | OFSS | Audited Results;Dividend | 26-Apr-23 |
| CANFINHOME | Audited Results;Final Dividend | 26-Apr-23 | POONAWALLA | Audited Results;Final Dividend | 26-Apr-23 |
| HARDWYN | Bonus issue;Increase in Authorised Capital;Stock Split;General | 26-Apr-23 | SBILIFE | Audited Results | 26-Apr-23 |
| HDFCLIFE | Audited Results;Final Dividend | 26-Apr-23 | SHOPERSTOP | Audited Results;Quarterly Results;General | 26-Apr-23 |
| IIFL | Audited Results;General | 26-Apr-23 | SPLPETRO | Audited Results;Final Dividend | 26-Apr-23 |
| INDUSTOWER | Audited Results;Quarterly Results | 26-Apr-23 | SYNGENE | Audited Results;Final Dividend | 26-Apr-23 |
| INVPRECQ | Audited Results;Final Dividend | 26-Apr-23 | TANLA | Audited Results;Final Dividend | 26-Apr-23 |
| JTLIND | Audited Results;Final Dividend | 26-Apr-23 | UNIONBANK | General | 26-Apr-23 |
| KPITTECH | Audited Results;Final Dividend | 26-Apr-23 | UTIAMC | Audited Results;General;Final Dividend | 26-Apr-23 |
| LKPSEC | Audited Results;Final Dividend | 26-Apr-23 | VOLTAS | Audited Results;Final Dividend | 26-Apr-23 |
Corporate Action
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| SACHEMT | 26-Apr-23 | E.G.M. | APOLLO | 04-May-23 | Stock Split From Rs.10/- to Rs.1/- |
| VESUVIUS | 26-Apr-23 | Final Dividend – Rs. – 8.2500 | CASTROLIND | 04-May-23 | Final Dividend – Rs. – 3.5000 |
| ABB | 27-Apr-23 | Dividend – Rs. – 5.5000 | CRISIL | 04-May-23 | Interim Dividend – Rs. – 7.0000 |
| HCLTECH | 28-Apr-23 | Interim Dividend – Rs. – 18.0000 | FRUTION | 04-May-23 | E.G.M. |
| JOSTS | 28-Apr-23 | Stock Split From Rs.5/- to Rs.2/- | PHYTO | 04-May-23 | E.G.M. |
| JSL | 28-Apr-23 | Special Dividend – Rs. – 1.0000 | RKFORGE | 09-May-23 | Interim Dividend |
| KSB | 28-Apr-23 | Final Dividend – Rs. – 15.0000 | MINDSPACE | 10-May-23 | Income Distribution RITES |
| RAJOOENG | 28-Apr-23 | E.G.M. | APTUS | 12-May-23 | Interim Dividend |
| SANOFI | 28-Apr-23 | Final Dividend – Rs. – 194.0000 | RISHYRN | 12-May-23 | E.G.M. |
| SANOFI | 28-Apr-23 | Special Dividend – Rs. – 183.0000 | TATACOFFEE | 15-May-23 | Dividend – Rs. – 3.0000 |
| SERA | 28-Apr-23 | Stock Split From Rs.10/- to Rs.2/- | VISAKAIND | 15-May-23 | Stock Split From Rs.10/- to Rs.2/- |
| SPRAYKING | 28-Apr-23 | Bonus issue 2:3 | HDFCBANK | 16-May-23 | Final Dividend – Rs. – 19.0000 |
| ELANTAS | 02-May-23 | Dividend – Rs. – 5.0000 | RCL | 31-May-23 | Stock Split From Rs.10/- to Rs.1/- |
| STOVACQ | 02-May-23 | Final Dividend – Rs. – 47.0000 | INFY | 02-Jun-23 | Final Dividend – Rs. – 17.5000 |
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