"Pre - Stock Market Setup" For April 15th, 2021 (Analysis)

April 14, 2021

Himanshu Verma - BTST & SWING Specialist

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Pre-Market Analysis For April 15th, 2021

1. Market Movement on (April 13th, 2021)

Nifty opened the day at 14,368 with a slight gap-up. The index tried to go up multiple times but found resistance at 14,400-14,450 as IT stocks remained weak. But after 2 pm, every index started to move up and pushed the Nifty up considerably. Nifty closed the day at 14,504, up 194 points or 1.36%.

Bank Nifty was more bullish in the day. After opening at 30,950, the index tried to fall in the first minute itself. But yesterday’s low was not broken and with this confidence, Banks started moving up. The index consolidated in a 350-point range for more than 4 hours before breaking out near noon.

The Sensex rallied 660.68 points, or 1.38 percent, to 48,544.06, while the Nifty climbed 194 points, or 1.36 percent, to 14,504.80 and formed a bullish candle as well as Inside Bar kind of pattern on the daily charts.

2. Top 5 Stocks UP (Gainers)

3. Top 5 Stock DOWN (Losers)

4. National Cues

S&P Dow Jones Indices has removed Adani Ports and Special Economic Zone Ltd from its sustainability index due to its relationship with Myanmar's military and its alleged human rights abuses.
Happiest Minds partners with BeatRoute to offer revenue realization solutions for the CPG industry.
Sterlite Tech partners with UK-based Openreach to build a ‘Full Fibre’ network.
Amazon moves SC against Delhi High Court stay order restraining Future Retail deal with Reliance.
JSW Steel completes the acquisition of a 31% stake in GSI Lucchini.
Aditya Birla Capital approves Aditya Birla Sun Life AMC IPO.
Infosy's Q4 profit falls to Rs 5,076 crore, And Infosys approves share buyback of up to Rs 9,200 crore at Rs 1,750 per share.

5. Option Data

Call option data

Maximum Call open interest of 24.22 lakh contracts was seen at 15,000 strike that will act as a crucial resistance in the April series.

This is followed by a 14,500 strike, which holds 13.69 lakh contracts, and a 14,800 strike, which has accumulated 11.54 lakh contracts.

Put option data

Maximum Put open interest of 35.35 lakh contracts was seen at 14,000 strike, which will act as a crucial support level in the April series.

It is followed by a 14,500 strike, which holds 26.35 lakh contracts, and a 14,200 strike that accumulated 15.50 lakh contracts.

6. Stocks with a high delivery percentage

A high delivery percentage suggests that investors are showing interest in these stocks.

7. Bulk Deals

8. Results on April 15

Wipro, Blue Blends (India), Hathway Bhawani Cabletel & Datacom, and Tinplate Company of India will release quarterly numbers on April 15.

9. Stocks in News

Motherson Sumi Systems: Moody’s Investors Service revised the company's rating outlook to 'stable' from 'negative' while affirming the Ba1 corporate family rating to Motherson Sumi Systems. The improved outlook with the affirmed rating reflects the sustainability of earnings and de-leveraging witnessed in the last two quarters despite growth challenges due to the global pandemic, the company said in its BSE filing.

JSW Steel: The company's subsidiary JSW Steel Italy S.r.l has completed the acquisition of 30.73 percent equity share capital of GSI Lucchini S.p. A. In December 2020, a share purchase agreement had been executed between subsidiary JSW Steel Italy S.r.l. and Industrial Development Corporation, South Africa, for acquiring a 30.73 percent share capital of GSI for 1 million euros.

5paisa Capital: The company approved fresh capital raise of Rs 250.87 crore through preferential issue of equity shares and warrants at Rs 500 per share to a set of marquee investors, promoters, and the promoter group.

Shipping Corporation of India: Shipping Corporation of India (SCI) has appointed M/s Corporate Professionals Capital Private Limited as the consultant for undertaking demerger, hive off or transfer of SCI's non-core assets and "assets held for sale".

UPL: The Supreme Court of Queensland in Australia has dismissed a class action litigation against Advanta Seeds Pty Ltd, UPL's subsidiary in Australia. "This class action, funded by a UK-based litigation funder, alleged that seeds sold by Advanta in 2010/2011 to certain growers in Queensland and News South Wales region of Australia, were contaminated," the company said in its BSE filing.

10. FII and DII Data

Foreign institutional investors (FIIs) net sold shares worth Rs 730.81 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 243.80 crore in the Indian equity market on April 13, as per provisional data available on the NSE.

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