"Pre - Stock Market Setup" For April 16th, 2021 (Analysis)

                 

  Himanshu Verma - BTST & SWING Specialist 

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Pre-Market Analysis For April 16th, 2021

1. Market Movement on (April 15th, 2021) 

• Nifty opened the day at 14,530 and tried to move up in the first 15 minutes. But at 9:30 pm, the market started falling heavily, which saw the index falling 200 points in 2 hours. What happened after this was very interesting. All indices reversed along with Nifty and it moved up and up. After crossing the opening range, Nifty closed near the day high at 14,581, up 76 points or 0.53%. Even with all that volatility, it was just 50 points away from day’s open.

• Bank Nifty was generally more bullish in the day, outperforming Nifty. After opening with a gap-up at 31,932, even the first candle was very volatile. It fell nearly 700 points to the day-low in 2 hours and then reversed with high strength. With this strength, Bank Nifty closed near the day-high at 32,112, up by 341 points or 1.07%.

• The BSE Sensex rallied 259.62 points to 48,803.68, while the Nifty50 gained 76.70 points at 14,581.50 and formed a small bullish candle which resembles Hammer kind of pattern on the daily charts.

2. Top 5 Stocks UP (Gainers)

3. Top 5 Stock DOWN (Losers)

4. National & Global Cues

• The Kejriwal government in Delhi imposed a weekend curfew in the national capital to control the COVID-19 surge a day India crossed another milestone as it reported 2,00,739 new cases.

• The S&P BSE Sensex remained volatile on April 15 but bulls managed to regain control. The index rose 259 points to 48,803, while the Nifty50 rose 77 points to close at 14,581.

• The Dow industrials closed above 34,000 for the first time on Thursday as the blue-chip benchmark and S&P 500 posted fresh record highs on a tech stock rally fueled by falling bond yields and strong March U.S. retail sales.

• Software company Wipro on April 15 reported a 0.1 percent sequential growth in consolidated profit at Rs 2,972.3 crore for the quarter ended March 2020, with IT services business matching analysts' expectations.

• SGX Nifty: Trends on SGX Nifty indicate a flat start for the broader index in India. The Nifty futures were trading 16 points lower around 14,603 level on the Singaporean Exchange at 7:20 IST.

• Ace investor Rakesh Jhunjhunwala's wife Rekha Jhunjhunwala has sold 2.5 lakh equity shares in Tata Communications in the quarter ended March 2021.

• Rakesh Jhunjhunwala trimmed his stake in VIP Industries during the March quarter of the financial year 2021 (Q4FY21).

• Ashish Kacholia, known for spotting quality stocks in the small and midcap universe, bought 25,02,495 shares, or 1.45 percent stake, in Phillips Carbon Black in the March quarter of FY21, data available with BSE showed.

5. Option Data

• Call option data

Maximum Call open interest of 25.09 lakh contracts was seen at 15,000 strike, which will act as a crucial resistance level in the April series.

This is followed by 14,500 strike, which holds 15.33 lakh contracts, and 14,800 strike, which has accumulated 12.85 lakh contracts.

• Put option data

Maximum Put open interest of 37.75 lakh contracts was seen at 14,000 strike, which will act as a crucial support level in the April series.

This is followed by 14,500 strike, which holds 29.41 lakh contracts, and 14,200 strike, which has accumulated 16.59 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 16th, 2021

Mindtree, Den Networks, GTPL Hathway, MMTC, and AAR Commercial Company will release quarterly numbers on April 16.

9. Stocks in News

• Wipro: The company reported higher IT services revenue at Rs 16,334 crore in Q4FY21 against Rs 15,726.6 crore in the previous quarter, and expects dollar revenue in Q1FY22 in the range of $2,195-2,238 million.

• National Fertilizers: The government intimated regarding an issue of request for proposals (RFP) for engagement of legal advisors, merchant bankers and selling brokers for the disinvestment of 20 percent stake in National Fertilizers out of its shareholding through the offer for sale route.

• Ashoka Buildcon: The company has received a Letter of Award (LOA) from Gujarat Rail Infrastructure Development Corporation (G-RIDE) for the project - Gauge Conversion of Bechraji - Ranuj section, with 25 KV AC electrification in Ahmedabad division of Western Railway. The accepted project cost is Rs 333.625 crore.

• Seshasayee Paper & Boards: CARE has re-affirmed the credit rating of 'A+' assigned to the long-term bank facilities of the company, with outlook as 'stable'. The rating agency also re-affirmed the credit rating of 'A1+' assigned to the short-term bank facilities of the company.

• ISGEC Heavy Engineering: Goldman Sachs increased stake in the company to 1.88 percent (or 13,83,655 equity shares) at the end of March quarter 2021, from 1.33 percent (or 9,75,423 equity shares) in December quarter 2020.

10. FII and DII Data

Foreign institutional investors (FIIs) net bought shares worth Rs 979.70 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 526.63 crore in the Indian equity market on April 15, as per provisional data available on the NSE.

11. Thank You! Note 🙏

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