Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Research

| More

ICICI Direct Derivatives Weekly View (April 16): Sustainability above 14700 may trigger fresh uptrend...

Posted On: 2021-04-19 03:07:16 (Time Zone: UTC)


Sustainability above 14700 may trigger fresh uptrend...

The Nifty recovered towards 14700 last week after witnessing a sharp fall of almost 500 points on Monday. Positive global cues also helped markets to move higher despite fears of fresh lockdowns and a depreciating currency. The Nifty closed the week with a loss of 1.6% while midcap and small cap indices closed the week with loss of almost 3% each. Sustainability of 14700 is expected to lead to a fresh up move.

On the data front, the Nifty has major Call base placed at 14700 strikes with highest Call base placed at 15000 strike for the weekly settlement. On the downside, 14500 remains a crucial support due to continued build-up seen in this strike. Hence, we believe that move above 14700 may trigger upside momentum towards 15000 in the April series.

Bank Nifty: Sectoral churning expected to trigger buying in banking...

The Bank Nifty witnessed a volatile week where moves were seen on both sides. Private leaders continued to witness profit booking but stock like HDFC Bank reverted from their major Put base. However, PSU banks continue to remain laggard and witnessed continued selling pressure.

As technology stocks witnessed profit booking post quarterly numbers of TCS and Infosys, sectoral rotation helped beaten down segment. Banking stocks witnessed some short covering to recover from the lows near 30500. In the last two sessions, fresh long OI build-up was observed as it closed near its sizeable Call base of 32000.

Positional Future Recommendation

Long Page Industries (PAGIND) April future in range of Rs. 30300-30400; Target: Rs. 31480; Stop Loss: Rs. 29800

Rationale

Page Industries largely remained in a range with support found around 28000 Rs. levels amid high volatility. Recently, with a pick-up in delivery volumes, the stock managed to close above Rs. 30000 levels. Along with it, the open interest in the stock was continuously declining, which seems positive as the price remained intact. Midcap stocks found some traction in recent days. We feel Page industries is well placed to move further higher. We feel a move above Rs. 30400 should accelerate the momentum and it should head towards Rs. 31500 levels.

For details, click on the link below: https://www.icicidirect.com/mailimages/Derivatives_view.pdf


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com


Disclaimer:The article above is a gist / extract of the original report prepared by the research firm / brokerage firm. This article is not to be considered as an offer to sell or a solicitation to buy any securities. This article is meant for general information only. www.equitybulls.com, its employees or owners or the research firms, its employees or owners won't be responsible for any liability that may arise from information, errors or omissions in these articles. www.equitybulls.com or its employees or owners / the research firms or its employees or clients or owners may from time to time hold positions in securities referred in this article. For detailed research reports, please contact the concerned research firm directly.


Other Headlines:

Q4FY21 Result Update - Pidilite Industries - ICICI Direct

Escorts Ltd - Q4FY21 First Cut - ICICI Direct

Jindal Stainless - Q4FY21 First Cut - ICICI Direct

Maintain BUY on Sonata Software - Growth visibility improves - HDFC Securities

Maintain BUY on KEC International - Near term challenges persist - HDFC Securities

Maintain BUY on Kalpataru Power Transmission - In-line performance - HDFC Securities

Tata power Q4FY21 Results Review - Inline result; alternative to InvIT on cards - HDFC Securities

Mahindra Lifespaces Q4FY21 Results Review - On track - HDFC Securities

Mphasis - Q4FY21 first cut: Muted performance - YES Securities

Voltas - Q4FY21 first cut: All round beat with strong operating performance led by EMPS segment - YES Securities

HG Infra Engineering - Q4FY21 first cut: Stellar performance - YES Securities

Polycab India - Q4 FY21 First cut - YES Securities

JMC Projects (India) Ltd - Q4FY21 Result Update - YES Securities

Asian Paints Ltd - Q4FY21 Result Update - YES Securities

Lupin - Q4FY21 Result Update - YES Securities

Godrej Consumer Products Ltd - Q4FY21 Result Update - YES Securities

Orient Electric Ltd - Q4FY21 Result Update - YES Securities

Matrimony.com - Q4FY21 Result Update - YES Securities

Birla Corporation Ltd - Q4FY21 Result Update - YES Securities

Lupin Q4FY21 Results Review - Positives in the price - HDFC Securities

Jindal Steel & Power - Net debt to remain comfortable as 6mtpa Angul expansion commences - ICICI Securities

Hindalco Industries - Saturation of an earnings trigger - ICICI Securities

Indigo Paints - Differentiation is the key; initiate at ADD - ICICI Securities

Lupin - Margin improvement factored in valuations - ICICI Securities

Blue Star - Focusing on core competencies - ICICI Securities

KEC International - Strong growth, healthy cashflow - ICICI Securities

Kalpataru Power & Transmission - Healthy growth, asset sales to aid cashflow - ICICI Securities

Asian Paints - Leader demonstrating leadership - ICICI Securities

Prince Pipes and Fittings - Beat on all counts - Q4FY21 Result - ICICI Securities

Polymer price tracker - PVC prices fall after a year; volatile journey ahead - ICICI Securities

Westlife Development - Good 4Q; retains store expansion target - ICICI Securities

Pidilite Industries - Input cost inflation impacts performance - ICICI Securities

UPL - Strong volume growth maintained - ICICI Securities

Piramal Enterprises - DTA derecognition and interest reversals weigh on earnings; strategic priorities remain in place - ICICI Securities

Q4FY21 Company Update - Saregama India - ICICI Direct

Q4FY21 Result Update - Asian Paints - ICICI Direct

Cadila Healthcare - Divests animal health business - ICICI Securities

Q4FY21 Result Update - Granules India - ICICI Direct

Q4FY21 Company Update - Firstsource Solutions - ICICI Direct

Q4FY21 Company Update - Sonata Software - ICICI Direct

Company Update - Cadila Healthcare - ICICI Direct

Q4FY21 Result Update - Kalpataru Power - ICICI Direct

Q4FY21 Result Update - KEC International - ICICI Direct

Q4FY21 Company Update - Matrimony.com Ltd - ICICI Direct

Maintain REDUCE on Asian Paints - Exceeds expectations - HDFC Securities

JMC Projects Results Report - Poised for growth - HDFC Securities

Maintain ADD on Godrej Consumers - Miss in 4Q margin; inspiring addition to team - HDFC Securities

Maintain BUY on Birla Corporation - Healthy performance - HDFC Securities

Subscriber watch - Bharti wins more market share across categories - ICICI Securities

Siemens Ltd - Healthy margins with growth recovery - ICICI Securities


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020