"Pre - Stock Market Setup" For April 26th, 2021 (Analysis)

                    

  Himanshu Verma - BTST & SWING Specialist 

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Pre-Market Analysis For April 26th, 2021

1. Market Movement on (April 23rd, 2021) 

• Nifty traded in a 75-point channel for the first one hour. Just before noon, it even crossed yesterday’s high and tried to move up. From the high, selling pressure across all major stocks took Nifty down nearly 200 points. Nifty closed the day at 14,341, down 64 points or 0.45%.

• Bank Nifty opened at 31,552 and was very volatile in the first hour. But even in a day of net consolidation, Bank Nifty moved 750 points from the day’s low to high. With the afternoon profit booking, Bank Nifty fell nearly 600 points then closed at 31,772, down 60 points or 0.19%.

• The BSE Sensex fell 202.22 points to 47,878.45.

2. Top 5 Stocks UP (Gainers)

3. Top 5 Stock DOWN (Losers)

4. National & Global Cues

• Zydus received emergency use approval from DCGI for the use of ‘Virafin’ for treating moderate Covid-19 cases. Interestingly, 91.15% of patients treated were RT-PCR Negative by Day 7.

• Torrent Power will set up a 300 MW capacity solar power plant in Gujarat at an estimated cost of Rs 1,250 crore. Stock is up by 2.3%.

• ICICI Bank Q4 Results: Net profit rises 260% YoY to Rs 4,402 crore.

• Govt waives customs duty on import of Covid-19 vaccines, oxygen for 3 months.

• Tata Steel approves conversion of 73,888 partly paid-up shares into fully paid-up shares.

• ITC partners with Linde India to import cryogenic containers.

• Reliance Industries to offload 11.61% stake in Hathway Cable.

• Delhi lockdown extended by 1 week as oxygen situation still ‘under stress’.

5. Option Data

• Call option data

Maximum Call open interest of 52.98 lakh contracts was seen at 15,000 strike, which will act as a crucial resistance level in the April series.

This is followed by 14,800 strike, which holds 33.15 lakh contracts, and 14,500 strike, which has accumulated 29.66 lakh contracts.

• Put option data

Maximum Put open interest of 55.27 lakh contracts was seen at 14,000 strike, which will act as a crucial support level in the April series.

This is followed by a 13,500 strike, which holds 31.65 lakh contracts, and 14,200 strike, which has accumulated 27.78 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 26th, 2021

Tech Mahindra, HDFC Life Insurance Company, SBI Cards and Payment Services, Castrol India, Delta Corp, Alok Industries, Automotive Stampings & Assemblies, Benares Hotels, Kedia Construction, National Standard (India), Roselabs Finance, Schaeffler India, Snowman Logistics, Suraj, Tata Teleservices (Maharashtra) and Welcure Drugs & Pharmaceuticals will declare quarterly earnings on April 26.

9. Stocks in News

• ICICI Bank: The bank reported sharply higher profit at Rs 4,402.6 crore in Q4FY21 against Rs 1,221.4 crore in Q4FY20, net interest income jumped to Rs 10,431 crore from Rs 8,928 crore YoY.

• HCL Technologies: The company reported lower consolidated profit at Rs 2,962 crore in Q4FY21 against Rs 3,982 crore in Q3FY21, revenue rose to Rs 19,642 crore from Rs 19,302 crore QoQ. The company expects FY22 revenue to grow in double digits in constant currency terms and EBIT margin between 19-21%.

• Indiabulls Real Estate: The company reported consolidated profit at Rs 94.5 crore in Q4FY21 against a loss of Rs 109.7 crore, revenue rose to Rs 731.7 crore from Rs 116.3 crore YoY.

• LT Foods expands its premium snacks brand to Australia, UAE.

• PowerGrid InvIT to launch Rs 7,700 crore IPO on April 29.

• Aditya Birla Money Q4 Results: Net profit rises 32% YoY to Rs 3.68 crore.

10. FII and DII Data

Foreign institutional investors (FIIs) net sold shares worth Rs 1,360.76 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 1,695.59 crore in the Indian equity market on April 23, as per provisional data available on the NSE.

11. Corporate Action

Here are key corporate actions taking place in the coming week.

12. Global Cues

Apart from FOMC meet, here are key global data points to watch out for next week.

13. Thank You! Note 🙏

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