Closing Bell
Indian equity markets ended higher today after opening firm even as other Asian peers displayed mixed trend.
After opening higher at 38,692.06, the Sensex ranged between a low of 38,554.79 and later moved to a high of 38,818.87. The benchmark index ended the day at 38,767.11, up 160.10 points over its previous close.
Elections do occupy the investors' mind and with the polling running for nearly two months, there seems to be speculation running in the market of Modi's comeback, and it will be a while before the actual trend emerges in May last week.
Rain Industries shares hit upper circuit
The stock of Rain Industries had hit 20 per cent upper circuit on the NSE today on the back of heavy volumes. The stock ended at Rs 131.80, up 20%. Volumes traded in the counter were 1.18 crores shares on the NSE. On the BSE, the stock ended at Rs 131.80, up 20% with volumes of 15.82 lakh shares traded against the 2-week average volume of 1.51 lakh shares.
TOP VOLUME GAINERS ON NSE
SENSEX STOCKS
Anjani Portland Cement up 11%
Anjani Portland Cement stock zoomed 11 per cent to Rs 148 on the NSE today. Volumes traded in the counter were 30,691 shares as of now.
Pricol stock surges 17%
Pricol stock surged 17% to Rs 47 on the NSE today after auto components manufacturing major on Tuesday decided to reconsider the dismissal order to 294 striking workers who had turned down the company’s transfer order. Volumes traded in the counter were 54.43 lakh shares on the NSE today.
PC Jeweller shares zoom 15%
PC Jeweller shares zoomed nearly 15% at Rs 110.30 on the NSE today. Volumes traded in the counter on the NSE were significantly higher over 7.05 crore shares. The stock touched an intraday high of Rs 115 before being quoted at Rs 110.30 now.
GAIL shares climb 3 per cent
GAIL (India) shares rallied over 3 per cent at Rs 354 on the NSE today after a recent report that it would l be working jointly with Bharat Heavy Electricals Ltd to develop solar power projects.
Under the deal, a company statement said, GAIL shall be the project developer and BHEL shall act as an engineering, procurement, construction and project management contractor.
BHEL shall also provide operation and maintenance services during the initial period upon becoming a successful bidder.
TOP NSE LOSERS
TOP NSE GAINERS
India Nippon Electricals in a downtrend
India Nippon Electricals (₹443): The stock of India Nippon Electricals has been in a long-term downtrend since marking an all-time high at ₹712 in November 2017. However, it found support at ₹370 this February and began to trend up. The stock now tests a significant resistance at ₹450, which is its 200-day moving average. An emphatic break above this barrier can take the stock up to ₹500 and ₹550 in the medium term.
A strong breakthrough of ₹550 is required to alter the downtrend and take the stock up to ₹600 and ₹650 over the long term. You can stay invested with a stop-loss at ₹390. A decisive fall below the key base level of ₹400 will alter the corrective uptrend and pull the stock down to ₹370 levels.
₹2260 HDFC Bank • Sell HDFC Bank if stock fails to move beyond ₹2,268 levels
| S1 | S2 | R1 | R2 | COMMENT |
| 2242 | 2230 | 2268 | 2280 | Fresh short positions can be initiated with a fixed stop-loss if the stock fails to move beyond ₹2,268 levels |
Dewan Housing falls; Brickwork downgrades secured NCD ratings
Shares of mortgage lender Dewan Housing Finance Corporation Ltd (DHFL) are down as much as 3.2 per cent to Rs 167.15, their biggest percentage loss since April 9.
Brickwork Ratings downgrades co's secured NCD, subordinated debt to 'BWR AA', credit watch with negative implications on Thursday.
Rupee sheds 41 paise to 69.33 vs USD
The rupee depreciated by 41 paise to 69.33 against the United States (US) dollar on Friday owing to increased demand for the greenback from importers and banks.
At the Interbank Foreign Exchange, the rupee opened on a weak note at 69.04 then fell further to 69.38 against the US dollar, before being quoted at 69.33, howing a decline of 41 paise from its previous closing.
Prabhat Dairy hits upper circuit
Shares of integrated milk and dairy products company Prabhat Dairy Limited rose by 4.97 per cent to Rs 82.3, hitting their upper circuit level. The share has hits its highest since January 22.
April 12 | 11.40 am
Kotak Mutual Fund works with Essel Group for 'optimal recovery' of dues
Kotak Mutual Fund said on Friday it is working with the promoters of Essel Group to ensure “optimal recovery” of dues owed by the conglomerate.
Kotak Mutual Fund said its exposure to Essel Group remained in six fixed maturity plans (FMPs) and in Kotak Credit Risk Fund to an extent of 0.37 per cent of its assets under management.
₹2019 • TCS : Sell TCS on rallies with stop-loss at ₹2,042 levels
| S1 | S2 | R1 | R2 | COMMENT |
| 2000 | 1980 | 2042 | 2060 | Make use of intra-day rallies to go short in the stock while maintaining a tight stop-loss at ₹2,042 levels |
Intraday Recommendations
ICICI SECURITIES
1. Sell Bank Nifty in the range of 30050-30100
2. Buy State Bank of India in the range of | 314.00-314.40
3. Sell Vedanta in the range of | 178.80-179.20
Lumax Auto Technologies rises; signs JV with Jopp Holding JMBH
Shares of automotive company Lumax Auto Technologies Limited climbed as much as 4.8 pe cent to Rs 142.6. This has been their biggest percentage gain since March 5.
Broker's call: HeidelbergCement (Buy)
Reliance Securities
HeidelbergCement (Buy)
CMP: ₹178.3
Target: ₹250
HeidelbergCement India is engaged in manufacturing of Portland cement. The company’s product portfolio includes Portland Pozzolana cement and Portland Slag cement.
Indian equity markets opened on a positive note while other Asian peers displayed muted cues. Key monitors going ahead include domestic macro data announcement, general elections and Q4 results expectations would decide the market directions.
The BSE benchmark index was up 42 points at 38,649.53, while on the NSE, the Nifty gained 9 points at 11,606.50
Momentum Picks: Intraday calls
Rupee slips 24 paise to 69.18 vs USD in early trade
The rupee depreciated by 32 paise to 69.24 against the United States (US) dollar in early trade Friday owing to increased demand for the greenback from importers and banks.
At the Interbank Foreign Exchange, the rupee opened on a weak note at 69.04 then fell further to 69.24 against the US dollar, showing a decline of 32 paise over its previous closing.
The local unit, however, pared some losses and was quoted at 69.18 against the American currency at 0941 hrs.
₹314 • SBI : Sell SBI with stiff stop-loss if falls below ₹308 levels
| S1 | S2 | R1 | R2 | COMMENT |
| 308 | 300 | 320 | 326 | Initiate fresh short positions with a stiff stop-loss only if the stock of SBI falls below ₹308 levels |
Broker's Call
Exide Ind: Buy (Short Term)
JM FINANCIAL SERVICES
Short Term Buy Exide Industries Around Rs 221 with a fixed stop-loss at Rs 216.
First Target at Rs 229 and if moves beyond further, second target at Rs 235.
₹1346 • Reliance Ind : Buy RIL if stock moves above ₹1,360 levels
| S1 | S2 | R1 | R2 | COMMENT |
| 1332 | 1315 | 1360 | 1375 | Fresh long positions can be initiated with a fixed stop-loss only if the stock advances above ₹1,360 levels |
₹2019 • TCS : Go short in TCS on rallies with tight stop-loss
| S1 | S2 | R1 | R2 | COMMENT |
| 2000 | 1980 | 2042 | 2060 | Make use of intra-day rallies to go short in the stock while maintaining a tight stop-loss at ₹2,042 level |
₹743 • Infosys : Sell Infosys if declines below ₹735 levels
| S1 | S2 | R1 | R2 | COMMENT |
| 735 | 727 | 750 | 757 | Consider initiating fresh short positions with a fixed stop-loss if the stock of Infosys declines below ₹735 levels |
Software majors such as Infosys, HCL Tech and TCS rose ahead of Infosys results later in the day. Infosys was up 0.90 per cent at Rs 749.75, TCS gained 0.60% at Rs 2,030.95, and HCL Tech was up 0.90% at Rs 1,098.55
Will Q4 of Infosys, TCS surprise street?
Friday will be the big day for this results season as two IT biggies - TCS and Infosys, will declare their fourth quarter earnings. Analysts expect Infy to report 2-3 per cent revenue growth and 8-12 per cent PAT growth sequentially for Q4 FY19.
April 12 | 9.20 am
11668 • Buy Nifty 50 Futures if climbs above 11,720 levels
| S1 | S2 | R1 | R2 | COMMENT |
| 11620 | 11570 | 11720 | 11770 | Consider initiating fresh long positions with a fixed stop-loss if the contract climbs above 11,720 levels |
S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2
Day Trading Guide for April 12, 2019
Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:
₹2256 • HDFC Bank
| S1 | S2 | R1 | R2 | COMMENT |
| 2242 | 2230 | 2268 | 2280 | Fresh short positions can be initiated with a fixed stop-loss if the stock fails to move beyond ₹2,268 levels |
₹743 • Infosys
| S1 | S2 | R1 | R2 | COMMENT |
| 735 | 727 | 750 | 757 | Consider initiating fresh short positions with a fixed stop-loss if the stock of Infosys declines below ₹735 levels |
Today's Pick: Essel Propack (₹122.3): Buy
Investors with a short-term perspective can buy the stock of Essel Propack at current levels.
Witnessing buying interest, the stock jumped 4.8 per cent breaking above a key resistance at ₹120. Since taking support at ₹85 in late October 2018, the stock has been in an intermediate-term uptrend. While trending up, the stock decisively breached its moving average compression (21-, 50- and 200-day moving averages) at around ₹109 in February and continued to trend upwards.
US shares edge lower
The Dow Jones Industrial Average fell 0.05 per cent to 26,143.05, the S&P 500 closed flat at 2,888.32 and the Nasdaq Composite dropped 0.21 per cent to 7,947.36.
Tempering expectations for a sharp slowdown in US growth as data that showed the number of Americans filing applications for unemployment benefits dropped to a 49-1/2-year low last week
Comments from US Federal Reserve Vice Chairman Richard Clarida that the US economy is in a “good place” but reemphasising the Fed's patience on rate hikes, also helped to reassure investors.
Asian shares tread water amid mixed growth signals
Asian shares were flat and United States (US) Treasury yields pulled back on Friday as investor caution prevailed ahead of the release of first-quarter corporate earnings, although stronger US economic data helped offset some concerns about global growth.