• by Stocktry Expert
• 05th Apr 2021

Stock Market Closing Report on 5 April 2021

NIFTY

MAX CALL OI : 15000

MAX PUT OI : 14000

PRICE RANGE : 14250 to 15000

50 DEMA : 14634

200 DEMA : 12715

TREND : Sideways

OVERVIEW : Nifty opened on a very dull note and as the day progressed it witnessed volatile swings as bulls and bears both made their share of attempts to drag the index on either side. It failed to surpass the high of previous session but managed to close above 14600 levels, forming a Hammer candle on daily chart. The traders are requested to take hedged positions and trade cautiously ahead of the quarterly result season. The support is at 14250 then 14000 levels while the bulls might be at relief only if the index manages to close above 14800 levels.

BANKNIFTY

MAX CALL OI : 34000

MAX PUT OI : 30000

PRICE RANGE : 32200 to 33800

50 DMA : 33899

200 DMA : 27995

TREND : Sideways

OVERVIEW : Banknifty although is trading below the support trend line and witnessed highly volatile session as after drifting towards 32300 levels, it witnessed bounce and managed to close above 32500 levels. It has been making lower top lower bottom formation since last 8 weeks. It made an attempt to bounce back but failed to hold the higher levels. The support is at 32200 then 32000 zones, while on the upside we might see relief only above 33800 zones. India vix is around 22 levels thus giving a sense of caution to the bulls. The support is at 32200 then 32000 while resistance is at 33800 then 34000.

STOCK OF THE DAY

• WIPRO has been consolidating in a range since last thirteen weeks and is now showing strength to breakthrough from the same.
• It formed a bullish candle even after selling pressure seen in the broader market thus giving signs of heading towards 440 and higher levels.
• RSI is supporting our view thus a possibility of bounce towards 440 and 450 levels cannot be ruled out, while support is at 420 levels.

NEWS AND EVENTS

• LOCKDOWN : "No possibility of lockdown in Delhi": Delhi Health Minister @SatyendarJain.
• NBFC : #NBFC industry body FIDC (Finance Industry Development Council) writes to Maharashtra Govt on lockdown
• NBFCs in Maharashtra seek state govt nod to function partially
• NBFCs raise concerns over being the only part of fin sector not allowed to function fully.
• INFO EDGE : Sources say Swiggy is closing $800 m round, CEO Sriharsha Majety informs employees of fund-raising. Falcon Edge Capital, Think Investments, Goldman Sachs among investors says Report
• THROCARE , DR LAL PATH : Sources tell CNBCTV18 that the revenue share from COVID-19 testing for diagnostic companies has risen to 27-30% in the month of March vs a 15% share in January
• #THYROCARE #Dr Lal PathLabs
• DLF: CO HAS APPLIED FOR THE LICENCE UNDER THE HARYANA GOVERNMENT’S DEEN DAYAL JAN AWAS YOJNA , WHICH ALLOWS DEVELOPERS TO CONSTRUCT UP TO FOUR FLOORS AND SELL THEM INDEPENDENTLY
• SAIL : Sail Increases price of Long product by Rs 2000/tn (Possitive)
• AVIATION SECTOR UPDATE: SOURCES SAYS WITH COVID19 CASES ON THE RISE AGAIN, AIRLINES HAVE STARTED SEEING A DIP ON LOADS AGAIN || AVIATION INDUSTRY ARE NOW EXPECTING LOAD FACTOR TO DROP BELOW 60% IN APRIL - ETNOW