"Pre - Stock Market Setup" For April 19th, 2021 (Analysis)

                  

  Himanshu Verma - BTST & SWING Specialist 

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Pre-Market Analysis For April 19th, 2021

1. Market Movement on (April 16th, 2021) 

• Nifty opened the day at 14,600 and tried to be was very volatile. After finally deciding to move up, Nifty could not sustain above 14,680 and mostly consolidated in the day. Between 9:30 am and 3 pm, the index moved in an 80-point channel. In the last hour, Nifty fell more than 110 points as heavyweights fell. Nifty closed the day at 14,617, up 36 points or 0.25%.

• Bank Nifty also saw a day of consolidation, trading in a 400 point zone. After opening at 32,170, Bank Nifty tried to break 32,300 but could not find enough power. The index remained volatile in a very tight range. Bank Nifty closed the day 31,977, down 135 points or 0.42% in the day.

• The BSE Sensex rose 28.35 points to 48,832.03, while the Nifty50 climbed 36.40 points to 14,617.90 and formed a Doji kind of pattern on the daily charts. The index shed 1.5 percent for the week and witnessed Doji kind of pattern formation on the weekly scale as well.

2. Top 5 Stocks UP (Gainers)

3. Top 5 Stock DOWN (Losers)

4. National & Global Cues

• A government entity announced a collaboration with Tata Power to set up solar-powered microgrids and water pumps in rural areas across the country. Tata Power closed the day nearly 3% up.

• Q4 revenue of GTPL Hathway is at 748 crore rupees vs 635 crores (YoY) and  net profit is at 56.9 crore rupees vs loss of 13.6 crores (YoY).

• Ashok Leyland has completed the delivery of bulletproof vehicles to the Indian Air Force.

• The market will first react to HDFC Bank's March quarter earnings announced on April 17. 

• The stock market will remain shut on April 21 on account of Ram Navami.

• Foreign investors have turned net sellers in the month of April as they seem to be cautious due to India's COVID-19 situation and its likely short-term impact on the economy. They have net sold Rs 2,597 crore worth of shares this month, though they also carried out some buying on sharp declines.

• The US bond yields corrected to around 1.53-1.6 levels, from 1.77 levels seen (the 14-month high) at March-end, which supported the Indian equity market as the risk of FII outflow reduced to some extent.

• HDFC Bank, the country's largest private sector lender, reported an 18.2 percent year-on-year (YoY) growth in its standalone profit at Rs 8,186.5 crore for the quarter ended March 2021 (Q4FY21) on account of the low base in the corresponding period. The profit in Q4FY20 stood at Rs 6,927.69 crore.

• FPIs pull out Rs 4,615 crore from Indian markets in April amid a sharp rise in COVID-19 cases.

• Here are key global data points to watch out for this week:

5. Corporate action

Here are key corporate actions expected this week:

6. Option Data

• Call option data

Maximum Call open interest of 25.17 lakh contracts was seen at 15,000 strike, which will act as a crucial resistance level in the April series.

This is followed by a 15,500 strike, which holds 16.22 lakh contracts, and a 14,500 strike, which has accumulated 14.06 lakh contracts.

• Put option data

Maximum Put open interest of 36.97 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 29.50 lakh contracts, and 14,200 strike, which has accumulated 16.71 lakh contracts.

7. Stocks with a high delivery percentage

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

8. Bulk Deals

9. Results on April 19th, 2021

ACC, ICICI Prudential Life Insurance Company, Bajaj Consumer Care, CRISIL, Agio Paper & Industries, Pratik Panels, Response Informatics, and Sri Chakra Cement will release quarterly numbers on April 19.

10. Stocks in News

• Mindtree: The company reported a 2.8 percent decline in Q4FY21 profit at Rs 317.3 crore against Rs 326.5 crore in Q3FY21. Revenue rose to Rs 2,109.3 crore against Rs 2,023.7 crore in the previous quarter.

• Den Networks: The company reported a consolidated profit of Rs 36.98 crore in Q4FY21 against Rs 24.65 crore in Q4FY20 while revenue declined to Rs 326.23 crore against Rs 327.8 crore in the year-ago period.

• Agro Tech Foods: Rekha Rakesh Jhunjhunwala increased stake in Agro Tech Foods to 3.49% (8,49,559 equity shares) in March quarter 2021, from a 3.28% stake (7,99,559 equity shares) in December quarter 2020.

• Bharti Airtel: The Government of Ghana will acquire 100% shares of AirtelTigo along with all customers, assets, and liabilities. The Government of Ghana, Bharti Airtel, and Millicom International Cellular S.A. have executed the definitive agreement for the transfer of AirtelTigo to the Government of Ghana on a going concern basis.

• Kolte-Patil Developers: The company announced a sales volume of 0.85 million square feet (MSF) in Q4FY21 against 0.67 MSF in Q4FY20. Realization per square feet increased sharply to Rs 5,988 from Rs 5,333 in the same period.

11. FII and DII Data

Foreign institutional investors (FIIs) net bought shares worth Rs 437.51 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 657.55 crore in the Indian equity market on April 16, as per provisional data available on the NSE.

12. Thank You! Note 🙏

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