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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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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:

globalresearch@sumpoorna.com

url: www.sumpoornaonline.com

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