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Market Commentary
FII & DII Activity
FII (Cash) in Cr +1429.92
DII (Cash) in Cr +461.29
FII (Index Futures) in Cr -1169.69
FII (Index Options) in Cr +307.22
FII (Stock Futures) in Cr -688.93
FII (Stock Options) in Cr +4.82
Benchmark indices ended near day's low on April 10 with Nifty finished below 11,600 level.
At close, the Sensex was down 353.87 points at 38585.35, and the Nifty was down 88.40 points at 11,583.60. About 1134 shares have advanced, 1369 shares declined, and 173 shares are unchanged.
Bharti Airtel, Asian Paints, Hindalco Industries, TCS and UPL were the top losers, while Tata Motors, Wipro, Cipla, HUL and Adani Ports were among major gainers on the Nifty.
Except auto and pharma, all other sectoral indices ended in red led by bank, metal, IT, infra, energy and FMCG.
USDINR closed at 69.2900(-0.55%).
Brent Crude is at 71.59$.
In the morning, The Shanghai Composite (+0.07%) Nekkei225(-0.53%) and the Hang Seng(-0.13%) are showing mixed cues . SGX NIFTY appeared positive (+0.18%)
TCS: Company partnered with Google cloud to build industry-specific cloud solutions.
Welspun Corp: Company received additional pipe orders of 180 KMT on a global basis.
Wipro: Board meeting scheduled to be held on April 16 to consider a proposal for buyback of equity shares of the company.
Tanla Solutions: Company completed the acquisition of Karix Mobile as per the signed share purchase agreement.
Blue Star: Company filed a petition for liquidation of Blue Star Oman Electro-Mechanical Company LLC, its joint venture in Oman with the jurisdictional court in Oman.
Sobha: Sobha Developers (Pune), a wholly owned subsidiary of Sobha acquired 100 percent equity shares of Sobha Interiors.
HT Media: ICRA revised rated limits for the commercial paper programme from Rs 1,500 crore to Rs 1,000 crore. The credit rating assigned to CP programme re-affirmed as A1+.
Info Edge: Company invested through its wholly-owned subsidiary about Rs 14 crore in Agstack Technologies Private Ltd.
Kansai Nerolac Paints: Company acquired 100 percent equity shareholding of Perma Construction Aids Pvt. Ltd
Put-Call Ratio's
Index Options 0.88
Stock Options 0.47
F&O Total 0.86
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Daily Technical Roundup APRIL‘11th 2019
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Nifty Outlook
Outlook: Nifty is expected to trade initially in a range 11540 to11650 initially, support 11490 Resistance 11710 NSE Overall Advance & Decline
- Advances 769
- Declines 1010
- Unchanged 123
Change in Open Interest (Apr)
- Nifty -1.82lakhsShare
(-1.15%)
- Bank Nifty -0.23Shares
(+0.18%)
Nifty PE 28.96
India VIX 21.1300(+4.19%)
Nifty made a bearish red candle again and proved strong a range bound
movement in the last four sessions
The index is expected to trade initially in the range 11540 to 11650 and
seems struck in the range with resistance 11710-11770.
In case of any closing below 11540 or a decisive breach of 11490, the short
term trend would be altered.
A decisive closing above 11770 would indicate the momentum and a
movement towards 11830 and 11900.
Traders are suggested to stay cautious near strong resistance but trade with
positive bias only if 11540 is not breached.
Oscillators are negative in daily chart.
Chart (Daily): 11584
High 11680
Low 11571
Resistance Levels
- R1 11650
- R2 11710
- R3 11770
Support Levels
- S1 11540
- S2 11490
- S3 11410
NIFTY - BANK Outlook
Outlook: Nifty Bank is expected to trade initially in the range 29700 to 30250 Resistances 30600 Support 29330
Bank Nifty Overall Advance & Decline
- Advances 3
- Declines 9
- Unchanged 0
Bank Nifty Open Interest
-0.23Shares (+0.18%)
Nifty bank closed with a red inverted hammer type candle but
proved range bound movement in last four sessions..
The initial range of the index would be 29700 to 30250. Below
29700 there would be a break down for short term and the index is
expected to find support around 29330 or 29100.
If managed to cross 30250 decisively it would show some strength
and above 30600 would catch momentum, again.
Most of the oscillators are negative;
Traders are suggested to watch 29700 closely for the index short
term trend.
The index seems to be trading in a range.
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Bank Nifty Chart (Daily):29804
High 30155
Low 29768
Resistance Levels
- R1 30250
- R2 30600
- R3 30900
Support Levels
- S1 29700
- S2 29330
- S3 29100
Stock Watch
Trends 1 2 3 4 5
Fresh Longs UJJIVAN INFIBEAM PVR GODREJCP GODFREYPHI
Fresh Shorts HDFCBANK SRTRANSFIN ASIANPAINTS TORNTPOWER HINDALCO
Short Coverings PCJEWLER ALBK VGUARD JETAIRWAYS TATAELXSI
Long Unwinding CANBK MUTHOOTFIN INDIANB WOCKPHARMA BATAINDIA
STOCK PICKS M&MFIN
Recommendation SELL
Current Price 411. 80
Current Price (Date) 10th April 2019
Transaction Price Range
BELOW 405
Target 395-390
Stop Loss 413
200DMA 1706
Segment Cash
52-week High (Rs.) 537.50
`52-week low (Rs.) 351.00
Market Cap (Rs. Cr) 25437.92
M&MFIN has a bearish distribution pattern and below the multiple bottoms 405 there may be a sharp decline.
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VOLTAS
Recommendation SELL
Current Price 610.20
Current Price (Date) 10th April 2019
Transaction Price Range
below 600
Target 582-572
Stop Loss 612
200DMA 558
Segment Cash
52-week High (Rs.) 664.60
52-week Low (Rs.) 471.00
Market Cap (Rs. Cr) 20170.01
In Voltas HNS breakdown would happen on closing below 604 or below 600 for target 680-672 and more.
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Source: Sumpoorna Research, NSE, BSE, SEBI,
and other publically available documents.
Document prepared by:
Nitesh Aggarwala & Sunil Koul
For further information, please
contact: Sumpoorna Global Markets &
Economics Research
Phone: +91 120 4505200
email:
url: www.sumpoornaonline.com
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