Market Commentary FII & DII Activity FII (Cash) in Cr -226.19 DII (Cash) in Cr +1206.16 FII (Index Futures) in Cr +72.71 FII (Index Options) in Cr +1097.25 FII (Stock Futures) in Cr -167.47 FII (Stock Options) in Cr -47.91 Put-Call Ratio's Index Options 0.74 Stock Options 0.50 F&O Total 0.73 Benchmark indices ended lower but off day's low after Reserve Bank of India (RBI) slashed repo rate by 25 bps to 6 percent on April 4 as expected and kept the stance unchanged to Neutral. At the close, the Sensex was down 192.40 points at 38,684.72, while Nifty was down 46 points at 11,598. About 1073 shares have advanced, 1426 shares declined, and 164 shares are unchanged. Top losers include TCS, HCL Tech, Hindalco Industries, BPCL and Yes Bank, while gainers were Indiabulls Housing, Zee Entertainment, Tata Motors, UltraTech Cement and Britannia Industries. On the sectoral front, except auto, FMCG and pharma, all other indices ended in red led by IT, bank and energy. USDINR closed at 69.1600(+1.08%). Brent Crude is at 69.16$. In the morning, The Shanghai Composite (+0.94%) Nekkei225 (+0.32%) and the Hang Seng(-0.17%) are showing mixed cues. SGX NIFTY appeared flat (+0.09%) Godrej Properties: Company adds a new residential project in Navi Mumbai. Company increased its equity stake in Wonder Space Properties Private Limited from 25.1 percent to 96.03 percent by acquiring equity shares from Shubh Properties Cooperatief U.A. Titan Company: Company sales grew in FY19 by around 21 percent, targets around 20 percent growth in FY20 despite the muted outlook for economy. Jewellery division grew 22 percent and Eyewear 23 percent in FY19. Cipla: Company received the Establishment Inspection Report (EIR) from USFDA, indicating closure of the inspection of Goa manufacturing facility. VIP Industries: There was a fire accident at the company's warehouse in Uttar Pradesh, but fortunately no casualties. The company is taking adequate measures to ensure the refunctioning of the warehouse. Mahindra & Mahindra: Swaraj Tractors crossed a production milestone Sumpoorna of 152017 lakh units. It had produced over 200,000 tractors in 2018-19, second highest by an Indian tractor brand during the year. 1
Nifty Outlook Outlook: Nifty is expected to trade initially in a range 11540 to11700 initially, support 11500 Resistance 11770 NSE Overall Advance & Decline - Advances 692 - Declines 1108 - Unchanged 106 Change in Open Interest (Apr) - Nifty - Bank Nifty Nifty PE 28.95-1.38lakhsShare (-0.89%) -0.34Shares (-1.73%) India VIX 18.6500(-0.71%) Nifty has confirmed the bearish engulfing candle by another red candle. Initial range if the index seems 11540 to 11700. The support level around 11500-11540 coincides with the neckline of the previous breakout and the pattern suggests the trend deciding support is around 11410. If managed to sustain above 11700 the index needs to cross 11770 to show further strength. Oscillators in daily chart are negative but the weekly closing would provide cues for further trend. There is high probability of a bounce from 11500-11540 holding 11410 for some more sessions. Chart (Daily): 11598 High 11662 Low 11559 Resistance Levels - R1 11700 - R2 11770 - R3 11810 Support Levels - S1 11540 - S2 11500 - S3 11410 NIFTY - BANK Outlook Outlook: Nifty Bank is expected to trade initially in the range 29800 to 30250 Resistances 30600 Support 29440-29100 Nifty bank closed on a weak note but still holding the support at 29800. Bank Nifty Overall The initial range is expected to be 29800 to 30250 and to regain the Advance & Decline strength the index needs to close above 30250 but the momentum - Advances 3 would be seen only above 30600. - Declines 9 - Unchanged 0 Bank Nifty Open Interest -0.34Shares (-1.73%) Next resistance 30700-30900. Traders should watch closely 29790 below which there may be more weakness and the index would tend to move towards 29440 and 29100 which is also 38.2% retracement level of the recent rise. Oscillators in daily chart are negative. Weekly closing would provide further cues. 2
Bank Nifty Chart (Daily):29905 High 30246 Low 29809 Resistance Levels - R1 30250 - R2 30600 - R3 30900 Support Levels - S1 29790 - S2 29440 - S3 29100 Stock Watch Trends 1 2 3 4 5 Fresh Longs AMARAJABAT SHREECEM SRF STAR OFSS Fresh Shorts AMBUJACEM BPCL REPCOHOM RELCAPITAL MRPL Short Coverings INDIGO SAIL TATACHEM JETAIRWAYS TATAGLOB Long Unwinding BEML INDIANB SIEMENS CANFINOM SUNTV STOCK PICKS JINDALSTEL Recommendation Buy Current Price 182.50 Current Price (Date) 4 TH April 2019 Transaction Price Range Target 171 Stop Loss 186 below 180 200DMA 179.60 Segment Cash 52-week High (Rs.) 265.00 `52-week low (Rs.) 123.25 Market Cap (Rs. Cr) 16545.76 JINDALSTEL has a HNS pattern in hourly chart and the neckline is at 180-182. Target would be 171-170 and resistance 185-186. 3
ULTRACEMO Recommendation Buy Current Price 4080 Current Price (Date) 4 th April 2019 Transaction Price Range 4025-4050 or any dip Target 4200-4225 Stop Loss 3985 200DMA 3896 Segment Cash 52-week High (Rs.) 4490.00 52-week Low (Rs.) 3263.70 Market Cap (Rs. Cr) 112478.91 ULTRACEMO has confirmed an inverted hammer and it may take an attempt to cross previous three tops at 4145-4174. 4
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