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Gold price today: Yellow metal gains momentum; buy for a target of Rs 46,700: Experts

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We suggest buying in gold around Rs 46300 with a stop loss of Rs 46100 for the target of Rs 46700, and in silver around Rs 65800 with a stop loss of Rs 65200 for the target of Rs 67000, suggest experts.

Source: Reuters

India Gold MCX June Futures trade higher on Tuesday after a negative close seen in the previous trading session. Experts advise investors to buy the yellow metal on dips for a target of Rs 46,700 per 10 gm while silver May futures is also a buy for a target of Rs 67,000 per kg.

On the Multi-Commodity Exchange (MCX), June gold contracts were trading higher by 0.14 percent at Rs 46,483 for 10 grams at 0935 hours. May silver futures were trading 0.26 percent higher at Rs 66,299 a kilogram.

Gold and silver fell for the second straight day on Monday amid technical selling after recent gains. Despite the steady dollar, middle-east tensions and correction in global equity markets weighed on precious metals.

Gold June futures contract settled at $1732.70 per troy ounce, and Silver May futures contract settled $24.87 per troy ounce. Both the precious metals settled on a weaker note in the domestic markets.

“COMEX gold trades little changed near $1732/oz after a 0.7% decline in the previous session. Weighing on gold is a pause in the US dollar’s recent slide, general optimism about the US and global economy and continuing investor outflows.

However, supporting price is rising virus cases, loose monetary policy stance of major central banks and mixed economic data from major economies. Gold has retreated after failing to sustain above $1750/oz but we may not see extended losses amid Fed's dovish stance and rising virus concerns,” he said.

In the domestic market, Gold June futures contract settled at Rs 46419 per 10 gram, and silver May futures contract settled at Rs 66128 per one kilogram.

Gold and silver prices fell once again on Monday despite a steady dollar, but experts feel that volatility is likely to continue but any dips could be used as a buying opportunity amid weakness in the rupee.

“We expect both the precious metals could find support at lower levels in today’s session. A weakness in the rupee could also support prices of both the precious metals,” Manoj Jain, Director (Head-Commodity & Currency Research) at Prithvi Finmart said.

“Gold has support at $1718-1700 per troy ounce and resistance is placed at $1744-1758 per troy ounce. Silver has support at $24.55-24.20 per troy ounce and resistance at $25.20-25.55 per troy ounce,” he said.

Jain added that at MCX, Gold has support at Rs 46180-46000 and resistance at Rs 46660-46850 and silver is having support at Rs 65800-65200 and resistance at Rs 66600-67300 levels. “We suggest buying in gold around Rs 46300 with a stop loss of Rs 46100 for the target of Rs 46700 and in silver around Rs 65800 with a stop loss of Rs 65200 for the target of Rs 67000,” he added.

Track Live Gold Prices here

Technical Indicators:

Analyst: Sriram Iyer, Senior Research Analyst at Reliance Securities

International gold and silver prices fell on Monday even as the dollar and the benchmark yields eased on Monday. Domestic gold and silver ended weaker on Monday, tracking the overseas prices.

Powell Comments and CPI uncertainty pressures prices. Powell said recently that a coming upswing in inflation readings is likely to be transitory and won’t cause the Fed to change monetary policy.

Domestic gold and silver prices could trade weak this Tuesday morning tracking overseas prices.

Technically, MCX Gold June supports are at Rs 46000 and Rs 46200. Resistances are at Rs 46550 and Rs 46800.Technically, MCX Silver May resistances are at Rs 66800 and Rs 67500. Supports are at Rs 65900 and Rs 64800.

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Deploy Bank Nifty Modified Put Butterfly strategy: Shubham Agarwal

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Considering the continues long unwinding followed by short in the end of the week in the Bank Nifty, it is prudent to approach the Bank Nifty with low-risk strategy as Modified Put Butterfly.

Wide intra week swing was seen in Nifty in the previous week. Clever began the week with substantial choppiness losing around 2% in a solitary meeting. Pullback in the followed days assisted Nifty with recovering the degree of 15000 once more. 

Over the course of the week Nifty spun inside 14500-15000 level and finished the week down 0.5%. On the Nifty Fut. Open Interest (OI) side, OI Built-up was almost 5%. 

Bank Nifty was more compacted with the selling pressure throughout the week. Bank Nifty slipped right from 34000 to 32250 almost (1700 focuses), finishing the week at 32600 losing more than 4.5%. 

Taking a gander at the Nifty week after week expiry alternative information, imperative obstruction remains at 15000 level followed by the 15500 level. On the drawback, 14500 stands as prompt help level and Highest Put OI remains at 13500 level going about as the indispensable help on the lower side. 

Bank Nifty OI (Open Interest) information shows the more extensive territory for week after week expiry. Be that as it may, Call authors are more dynamic contrasted with Put journalists and seen adding position till 40000CE strike. Bank Nifty indispensable opposition remains at 33000 followed by 34000. 

As of now, Bank Nifty is exchanging at the imperative help level of 32500, further any OI Unwinding at this level could lead Bank Nifty to fall more, further help remains at 32000 level. 

India VIX has spiked more than 6% from 19.99 to 21.21. Notwithstanding, cool off in the IV from its undeniable level has given solidarity to Nifty. India VIX has declined bit by bit over the course of the week to 19.8 level from its high 21.2. VIX shut at the degree of 19.8 contrasted with 19.99 last Friday. 

Taking a gander at the nostalgic pointer, Nifty OIPCR for the week has declined from 1.358 to 1.288. Bank Nifty OIPCR over the course of the week, additionally declined from 0.88 to 0.72 contrasted with last Friday. Generally speaking information demonstrates higher Put journalists versus bring scholars over the course of the week for the Nifty and Bank Nifty. 

Moving further to the week by week commitment of areas to Nifty. IT has offered help by 133, trailed by peripheral help from Metal (40 focuses). Though PVT Bank drove the destruction by contributing - 225 focuses to Nifty. 

Looking towards the top gainer and washout loads of the week in the FnO section, JSW Steel beat by acquiring around 22%, trailed by Cadila Healthcare (17%), Lal Pathlab (16%). While UBL lost 11% followed by PVR and Bajaj Finance (- 7.5% each). 

End: Considering the proceeds with long loosening up followed by short toward the week's end in the Bank Nifty, it is reasonable to move toward the Bank Nifty with generally safe procedure as Modified Put Butterfly.

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These 5 Nifty stocks have surged over 50% in 2021, do you own any?

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These five stocks are trading way above their 200-daily moving average (DMA). Interesting fact, 46 out of Nifty50 companies are currently trading above their 200-DMA.


These five stocks are exchanging route over their 200-every day moving normal (DMA). Intriguing actuality, 46 out of Nifty50 organizations are presently exchanging over their 200-DMA. 

The Nifty has acquired around 6% so far in the schedule year 2021 however five stocks on the list have had a marvelous run, energizing in excess of 50% in a little more than a quarter of a year. Indeed, these five stocks are exchanging path over their 200-every day moving normal (DMA). On the off chance that a stock exchanges over its 200-DMA, the pattern is to a great extent upward however there can be a momentary descending development. From the rundown, Tata Motors is exchanging 12% beneath its 52-week excessive cost of Rs 357, while any remaining stocks are 4-7 percent away from their 52-week highs. (Information Source: ACE Equity). As per Sharetipsinfo SWOT investigation, these stocks, excepting Tata Motors, have a bigger number of qualities than shortcomings. 

Goodbye Motors Ltd. | The stock has risen 71% in 2021—from Rs 183.85 on December 31, 2020 to Rs 313.95 on April 8, 2021. The offer contacted its 52-week high of Rs 357 on March 3, 2021. 

Adani Ports and Special Economic Zone Ltd. | The stock has risen 70% in 2021—from Rs 483.75 on December 31, 2020 to Rs 823.00 on April 8, 2021. The offer contacted its 52-week high of Rs 885 on April 7, 2021. 

JSW Steel Ltd. | The stock has risen 59% in 2021—from Rs 387.20 on December 31, 2020 to Rs 614.10 on April 8, 2021. The offer contacted its 52-week high of Rs 639 on April 8, 2021. 

Grasim Industries Ltd. | The stock has risen 56% in 2021—from Rs 927.85 on December 31, 2020 to Rs 1447.80 on April 8, 2021. The offer contacted its 52-week high of Rs 1473 on April 5, 2021. 

Hindalco Industries Ltd. | The stock has risen 52% in 2021—from Rs 240.55 on December 31, 2020 to Rs 365.20 on April 8, 2021. The offer contacted its 52-week high of Rs 374 on April 8, 2021.

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Share Market Closing Note

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Snapping their 3-day winning streak, domestic equity markets traded range-bound in the negative territory on Friday, with a few episodes of gains. Amid mixed global cues and record Covid-19 cases back home, coupled with reports of vaccine supply crunch, the benchmark indices dropped 0.3 per cent today.


Among headline indices, the S&P BSE Sensex ended the day at 49,591 level, down 155 points. 50 per cent of the constituents ended the day in the red with Bajaj Finance (down 3 per cent), Ultratech Cement, NTPC, ICICI Bank, Axis Bank, IndusInd Bank, and Reliance Industries leading the list of losers. On the upside, Sun Pharma, HUL, Tech Mahindra, Titan Company, Dr Reddys Labs, and HCL Tech were the top gainers on the index, up in the range of 1 per cent to 3.5 per cent.

On the NSE, the 50-share barometer settled at 14,835 levels, down 39 points dragged down by UPL, Tata Steel, Coal India, and Axis Bank.

Trends in the broader markets were mixed as the S&P BSE SmallCap index closed 0.7 per cent higher while the S&P BSE MidCap index dipped 0.07 per cent.

The SmallCap index hit fresh record peak of 21,667, for second day in a row on the back of gains in Srei Infra, Butterfly Gandhimathi, Kilitch Drugs, Subex, Bank of Maharashtra, Aarti Surfactants, Vimta Labs, and Sasken Technologies.  

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Topic :- Time:3.00 PM

Nifty spot if holds above 14800 level on closing basis then expect some further upmove in coming sessions and if it closes below above mentioned level then some sluggish movement is likely to follow in the market.

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Topic :- Time:2.40 PM

Just In:

PE fund True North Fund sells part stake in IPO bound Policybazaar: Buyers include Serum Institute.

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Topic :- Time:2.00 PM

Nifty declining. Nifty spot if breaks and trade below 14780 level then expect some further decline in the market and if it manages to trade and sustain above 14820 level then some upmove can follow in the market.

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Topic :- Time:1.00 PM

Nifty is still trading in a very small range. Nifty spot if breaks and trade below 14840 level then expect some decline in the market and if it manages to trade and sustain above 14880-14900 levels then some upmove is likely to be seen in the Nifty.

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Topic :- Time:12.00 PM

News Wrap Up:

1. Sensex, Nifty volatile; Nifty PSU Bank index surges 3%

2. After Facebook, LinkedIn faces massive 500 mn users data leak

3. Privatisation of two public sector banks on meeting agenda next week

4. SBI drags feet on loan to Adani firm for controversial Australian coal mine

5. No need for lockdown, focus on Covid-19 tests: PM Modi to CMs

6. GameStops strong stock performance triggered board directors exit

7. Zensar Tech climbs 6% on entering into a partnership with Claimatic

8. Siemens gains 4% on signing MoU with Ashok Leyland for E-Mobility solutions

9. Srei Infra zooms 20% as arm receives EoI for $250 mn capital infusion

10. Khadim India rises for fourth day, jumps 7% on credit rating tweak

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Topic :- Nifty Opening Note

Indian Stock Market Trading View For 09 April,2021:

Nifty to remain volatile. Nifty is likely to be sentiment driven.

Huge surge in Covid-19 cases along with looming lockdown fear can hamper sentiments.

Nifty spot if manages to trade and sustain above 14920 level then expect some upmove and if it breaks and trade below 14840 level then some decline can be seen in the market. Please note this is just opening view and should not be considered as the view for the whole day.

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Tax planning: Check latest changes made in ITR forms

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Earlier, dividend income up to Rs 10 lakh was exempt from tax under Section 10(34). Taxpayers were required to show such income under the exempt income section.

The duty division said no huge changes were made for the current year because of the Covid pandemic while advising new personal assessment form (ITR) structures for evaluation year 2021-22 (AY22). 

In accordance with the adjustments in the Finance Act, 2020, there are sure changes that have been brought. Here are a portion of the Key changes you should know. 

The profit pay must be unveiled under "pay from different sources". In the Finance Act, 2020, profits were made available in the possession of the citizens rather than profit dispersion assessment to be deducted by the organization or installment or assertion of profit. 

"Until AY21, just profit pay that was not excluded was needed to be uncovered in the part 'pay from different sources'. Presently, a wide range of profit salaries are needed to be unveiled here," an expense research firm said in a Mint. 

Citizens were needed to show such pay under the excluded pay area. Prior, profit pay up to Rs 10 lakh was excluded from charge under Section 10(34). The reference to profit pay up to Rs 10 lakh from a homegrown firm has been taken out from the absolved pay area. 

Under Section 115BAC, the public authority presented another concessional charge system in FY20 that permits citizens the alternative to pay charge at lower chunk rates however swear off around 70 derivations. The citizen is needed to pick in the event that the person is choosing the concessional charge system under Section 115BAC in Part An of the tax documents.

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Fixed deposit interest rates: Latest FD rates of SBI, HDFC Bank, ICICI Bank, Axis Bank

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We have compiled the current fixed deposit interest rates of top lenders in India.

SBI FD interest rates are applicable with effect from January 8

SBI FD financing costs are material with impact from January 8 Individuals who are searching for protected and guaranteed profits from their speculations, fixed stores (FDs) are viewed as the favored venture decision for them. 

Bank fixed stores have consistently been mainstream thinking about the security of the venture. Most top moneylenders likewise offer the alternative of a present moment, mid-term or long haul fixed store contingent upon your speculation needs and skyline. You should simply think about the financing costs on proposal prior to taking your pick. 


Banks like State Bank of India (SBI), ICICI Bank, HDFC Bank and Axis Bank offer FD residencies going from 7 days to 10 years. FD financing costs of various banks fluctuate by store sum, store residency and kind of contributor.

e have compiled the latest fixed deposit interest rates of top lenders in India.

Latest interest rates of SBI

MATURITY PERIODINTEREST RATES
7 days to 45 days2.9%
46 days to 179 days3.9%
180 days to less than 1 year4.4%
1 year to less than 2 years5%
2 years to less than 3 years5.1%
3 years to less than 5 years5.3%
5 years and up to 10 years5.4%
 Latest interest rates of Axis Bank
MATURITY PERIODINTEREST RATES
7 days to 29 days2.5%
30 days to 3 months3%
3 months to 6 months3,5%
6 months to 11 months 25 days4.40%
11 months 25 days to 1 year 5 days5.15%
1 year 5 days to 18 months5.10%
18 Months to 2 years5.25%
2 years to 5 years5.40%
5 years to 10 years5.75%
Latest interest rates of ICICI Bank
MATURITY PERIODINTEREST RATES
7 days to 29 days2.5%
30 days to 90 days3%
91 days to 184 days3.5%
185 days to less than 1 year4.40%
1 year to 18 months4.9%
18 months days to 2 years5%
2 years 1 day to 3 years5.15%
3 years 1 day to 5 years5.35%
5 years 1 day to 10 years5.50%
Latest interest rates of HDFC Bank
MATURITY PERIODINTEREST RATES
7 days to 29 days2.50%
30 days to 90 days3%
91 days to 6 months3.5%
6 months 1 days to 1 Year4.4%
1 year to 2 years4.9%
2 years 1 day to 3 years5.15%
3 year 1 day to5.30%
5 years 1 day5.50%


RBI's MPC starts deliberating on next monetary policy

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The Reserve Bank will announce the resolution of the Monetary Policy Committee (MPC) on April 7.

RBI Governor Shaktikanta Das-headed rate-setting board MPC began its three-day consultation on the following financial strategy on Monday in the midst of abrupt flood in COVID-19 cases and the public authority's new command requesting that the national bank keep retail swelling around 4%. 

The Reserve Bank will report the goal of the Monetary Policy Committee (MPC) on April 7. 

Specialists are of the view that the Reserve Bank will keep up the norm on arrangement rates at its first every other month money related approach survey for the current financial. It is likewise prone to keep an accommodative approach position. 

The approach repo rate or the transient loaning rate is right now at 4%, and the opposite repo rate is 3.35 percent. 

A month ago, the public authority had asked the Reserve Bank to keep up retail expansion at 4% with an edge of 2% on one or the other side for an additional five-year time span finishing March 2026. 


M Govinda Rao Chief Economic Advisor, Brickwork Ratings (BWR) said, given the ascent in the spread of Covid contaminations and the inconvenience of new limitations to contain the infection spread in the significant pieces of the country, RBI is probably going to proceed with its accommodative money related approach position in the forthcoming MPC meeting. 

"Considering the raised expansion levels, BWR expects the RBI MPC to embrace a mindful methodology and hold the repo rate at 4%," Rao said. 

Rao noticed that in the last MPC, RBI started measures towards the legitimization of abundance liquidity from the framework by declaring a staged climb in the money save proportion (CRR) for reclamation to 4 percent. 

"In the current situation, the RBI may jump at the chance to deplete in abundance liquidity, while higher borrowings and the frontloading of 60% borrowings in H1 FY21 may squeeze yields, and thus, the RBI may go delayed in switching its liquidity estimates reported as a COVID boost since March 2020," Rao added. 

In the interim, G Murlidhar, MD and CEO, Kotak Mahindra Life Insurance Company said 2021 has seen an ascent in yields across the globe in accordance with immunization drove good faith. 

"Be that as it may, the case for India is a little extraordinary this time, with quick ascent in new COVID cases over most recent couple of weeks. In impending strategy, MPC may keep on underlining the significance of "organized development of yield bend" given favorable swelling direction and second wave headwinds to beginning development recuperation," said Murlidhar. 

In a bid to control value rise, the public authority in 2016 had given an order to RBI to keep the retail expansion at 4% with an edge of 2% on one or the other side for a five-year time frame finishing March 31, 2021. 

The national bank essentially factors in the retail expansion dependent on Consumer Price Index while showing up at its money related strategy. On February 5, after the last MPC meet, the national bank had kept the key financing cost (repo) unaltered refering to inflationary concerns.

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Benchmark indices lost 1.5 percent on the back of concerns over rising COVID-19 cases in India with Nifty closing below 14,650 and Sensex below 50,000 level. 

At close, the Sensex was down 870.51 points or 1.74% at 49,159.32, and the Nifty was down 229.60 points or 1.54% at 14,637.80. About 1063 shares have advanced, 1848 shares declined, and 180 shares are unchanged.

Bajaj Finance, IndusInd Bank, SBI, Eicher Motors and M&M were among major losers on the Nifty, while gainers were HCL Technologies, TCS, Britannia Industries, Wipro and Infosys.

On the sectoral front, Nifty PSU Bank index slipped 4 percent, Nifty Bank index shed over 3 percent and auto index declined more than 2 percent. However, IT index gained 2 percent. 

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Topic :- Time:3.10 PM

Nifty spot close above 14660 level then expect some upmove in coming session and if it closes below above mentioned level then some sluggish movement is likely to be seen. Avoid open positions for tomorrow.

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Topic :- Time:2.30 PM

COPPER Trading View:

COPPER is trading at 681.80.If it manages to trade and sustain above 682.20 level then expect some upmove in it and if it breaks and trade below 680.60 level then some decline can be seen in it.

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Topic :- Time:2.10 PM

ICICIBANK Trading View:

ICICIBANK is trading at 571.40.If it breaks and trade below 570 level then expect it to decline and if it manages to trade and sustain above 575 level then some upmove can be seen in the ICICIBANK.

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Topic :- Time:2.00 PM

Nifty is showing some good recovery. Nifty spot if manages to trade and sustain above 14650 level then expect some further upmove and if it breaks and trade below 14600 level then some decline can be seen in the market.

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Topic :- Time:1.10 PM

COVID-19: Government lists 3 reasons behind massive surge in cases:

mid an alarming rise in COVID-19 cases, Prime Minister Narendra Modi - on April 4 - chaired a high-level meeting to review the situation and vaccination exercise in the country. Modi directed central teams comprising public health specialists to be sent to Maharashtra, Punjab and Chhattisgarh, where the situation was of serious concern.

During the meeting, the government listed three reasons behind the massive surge in cases.

The reasons for the sharper rise in cases could be mainly attributed to the severe decline in compliance of COVID-appropriate behaviour, pandemic fatigue and lack of effective implementation of containment measures at the field level, it said.

As per the Health Ministry, 10 states account for more than 91 percent of coronavirus cases. India recorded an all-time high of 1,03,558 coronavirus infections in a day pushing the nationwide COVID-19 tally to 1,25,89,067, according to the Health Ministry data.

The single-day rise in cases surpassed the earlier peak of 97,894 infections reported on September 17, 2020, making it the highest since the pandemic began in India.

Modi also called for avoiding mortality under all circumstances by ramping up healthcare infrastructure and other measures and exhorted that all states need to take stringent measures with comprehensive restrictions in places witnessing high surge to curb the spread.

A detailed presentation was made which highlighted that there is an alarming rate of growth of COVID-19 cases and deaths in the country with 10 states contributing to more than 91 percent of cases and deaths due to COVID, the statement from PMO said.

A special campaign for COVID-appropriate behaviour with emphasis on 100 percent mask usage, personal hygiene and sanitation at public places, workplaces and health facilities will be organised between April 6-14, the statement added.

Registering a steady increase for the 26th day in row, the active cases have increased to 7,41,830 comprising 5.89 percent of the total infections, while the recovery rate has further dropped to 92.80 percent, the data stated.

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Topic :- Time:1.00 PM

Nifty is trading volatile. Nifty spot if manages to trade and sustain above 14600 level then expect some further upmove and if it breaks and trade below 14540 level then some decline can be seen in the market.

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Topic :- Time:12.10 PM

Nifty is likely to turn more volatile now. Nifty spot if manages to trade and sustain above 14560 level then expect some upmove and if it breaks and trade below 14520 level then some decline can follow in the Nifty.

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Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex tumbles 1,400 pts, Nifty below 14,500; India VIX up 15%

2. Factory activity slows to 7-month low on renewed Covid-19 lockdowns

3. India reports highest single-day spike with 103,558 Covid cases in a day

4. Serum Institute may apply to sell Covid-19 vaccine Covishield commercially

5. LG becomes first major smartphone brand to withdraw from market

6. Private equity firms value SP Group stake in Tata Sons at hefty discount

7. Infosys hits fresh record high; m-cap crosses 8. SAIL hits over 2-yr high on clocking best quarterly production, sales in Q4 Rs 6-trillion mark

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Topic :- Time:11.00 AM

After negative opening nifty is still trading in red zone. Nifty spot if manages to trade and sustain above 14540 level then expect some upmove and if it breaks and trade below 14480 level then some decline can be seen in the market.

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Topic :- Stocks under F&O ban on NSE

1. SAIL

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Topic :- Stocks in the news

JTL Infra: ERW steel tubes and pipes producer said it registered a healthy sales volume of 38,715 metric tonne in Q4 FY21. The volume increased by 98.42% QoQ and 66.41% YoY whereas it registered a robust growth of 73.66% on yearly basis, sales volume of FY21 is 82,710 metric tonne as compared to 47,627 metric tonne in FY20.

Olectra Greentech: Olectra Greentech and Evey Trans received letter of award for 50 electric buses from one of the state transport authorities under FAME-II scheme of Government of India. These buses will be delivered over a period of 12 months.

Ashiana Housing: Ashiana Housing said the 8.31 lakh square feet of area has been booked in Q4FY21 against 4.14 lakh square feet in Q4FY20, while the value of area sold was worth Rs 299.71 crore in Q4FY21 against Rs 145.96 crore in the corresponding period. 1,131 number of units were booked in FY21 vis-a-vis 1,505 units booked in FY20, said the company in its BSE filing.

Britannia Industries: The company has declared an interim dividend at 6,200% i.e., Rs 62 per equity share for the financial year 2020-21. The record date for determining the eligibility of shareholders for payment of interim dividend has been fixed as April 10.

Adani Enterprises: Adani Enterprises along with its wholly-owned subsidiary company, Gare Palma II Collieries Private Limited has signed coal mining agreement with Maharashtra State Power Generation Company (MAHAGENCO) for development and operation of Gare Palma Sector II coal mine.

Maruti Suzuki India: Suzuki Motor Gujarat (SMG), a 100% subsidiary of Suzuki Motor Corporation for the production of automobiles in India, has completed construction of the plant C, and started production from April 2021. With production starting at the Plant C, which has an annual production ability of 2,50,000 units, together with Plant A and Plant B, the total ability of SMG will be 750,000 units, said the company in its BSE filing.

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Topic :- Nifty Opening Note

Indian Stock Market Trading View For 05 April,2021:

Nifty to turn volatile as the day progresses. Global cues to act as trend decider.

Nifty spot if manages to trade and sustain above 14900 level then expect some upmove and if it breaks and trade below 14820 level then some decline can be seen in the market. Please note this is just opening view and should not be considered as the view for the whole day.

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Britannia share price gains after Board declares dividend; Motilal Oswal expects 11% upside

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The Board of Directors of the company at their meeting held on April 2, 2021, declared interim dividend at 6200 percent i.e., Rs 62 per equity share of face value of Re 1 each for the Financial Year 2020-21, the company said.Britannia Industries | The company has declared an interim dividend at 6,200 percent i.e., Rs 62 per equity share for the financial year 2020-21. The record date for determining the eligibility of shareholders for payment of interim dividend has been fixed as April 10. The stock closed 0.27 percent lower at Rs 3,618.40 on April 1.

Britannia Industries | The company has declared an interim dividend at 6,200 percent i.e., Rs 62 per equity share for the financial year 2020-21. The record date for determining the eligibility of shareholders for payment of interim dividend has been fixed as April 10. The stock closed 0.27 percent lower at Rs 3,618.40 on April 1

Britannia Industries | The organization has announced a break profit at 6,200 percent i.e., Rs 62 for every value share for the monetary year 2020-21. The record date for deciding the qualification of investors for installment of break profit has been fixed as April 10. The stock shut 0.27 percent lower at Rs 3,618.40 on April 1. 

Britannia Industries share cost acquired over a percent toward the beginning of the day meeting on April 5 after the organization proclaimed a break profit at 6,200 percent for every value share for the monetary year 2020-21. 

The FMCG major has announced an interval profit at 6,200 percent i.e., Rs 62 for every value share for the monetary year 2020-21. The record date for deciding the qualification of investors for installment of break profit has been fixed as April 10. 

The stock trading at Rs 3,666.30, up Rs 47.90, or 1.32 percent at 09:33 hours. It has contacted an intraday high of Rs 3,666.65 and an intraday low of Rs 3,626.80. 

"The Board of Directors of the Company have, at their gathering hung on April 2, 2021, announced Interim Dividend at 6200% i.e., Rs 62 for every value portion of assumed worth of Re 1 each for the Financial Year 2020-21," the organization said in a documenting to BSE

"The record date for deciding the qualification of investors for installment of interval profit has been fixed as April 10, 2021. The interval profit is dependent upon allowance/retaining of appropriate charges and will be paid at the very latest April 30, 2021," the organization added. 

Homegrown examination and broking firm Motilal Oswal has a purchase rating on the stock with focus of Rs 4,120 for every offer. The firm accepts that the administration's endeavors over the most recent couple of years to grow dissemination, help R&D capacities, effectively execute its low unit packs methodology, steady expense legitimization, interest in boosting generally and provincial assembling abilities and its new local technique is coming about in reliably broadening canals over peers in rolls just as in the more extensive food classification. 

"Huge underlying freedom, surprising history, RoEs of more than 40% better than most shopper peers, and an appealing danger reward proportion on FY23E income, drives us to be positive on Britannia," it added. 

Worldwide exploration firm Credit Suisse is of the view that there can be minor gains in Britannia Industries stock, as per a CNBC-TV18 report. 





Nifty's short-term trend looks bearish, but JSW Steel, TCS, ACC can rise up to 14%

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Nifty has formed the Doji candle pattern, however, it has maintained its higher top higher bottom formation on the monthly charts which shows the pace of long-term bullish trend has slowed down.

On the weekly charts, the index has maintained its lower top lower bottom formation but it has managed to sustain above its 20-week simple moving average (SMA) which indicates medium-term trend remains in a consolidation mode.

On the daily charts, Nifty could not sustain above its 20-day SMA and it has formed lower top lower bottom price formation which indicates the short-term bearish trend is intact.

On the indicator front, the index remains above the long-term moving averages of 100-day and 200-day SMA which is a relaxing factor.

The RSI plotted on the medium and long-term timeframe can be seen moving downwards, indicating the medium and long-term trend lost its strong pace of positive momentum.

The key support levels to watch out for in the short term are 14,264 (swing low) and 14,000 (key support), followed by 13,596 (January 2021 low).

On the upside, key resistance levels are 15,051 (2-week high). If the index sustains above this level, we might see it head higher towards 15,336 (5-week high) and eventually 15,431 (all-time high).

For the medium-term, we might see the index to be rangebound between 14,264 and 15,431.

Here are three buy calls for the next 2-3 weeks:

JSW Steel | LTP: Rs 505.50 | Target price: Rs 578 | Stop loss: Rs 425 | Upside: 14%

JSW Steel has been forming a higher top higher bottom pattern on the monthly charts since June 2020 which shows the long-term bullish trend of the stock is intact.

A couple of weeks back, the stock gave a breakout and since then it has been continuously making fresh lifetime highs every week which shows a strong bullish undertone of the stock.

We witnessed strong volume confirmation in every bullish movement which strengthens the ongoing up-trend.

On the indicator front, the ADX plotted on the medium-term can be seen moving higher, indicating strong momentum of the current up-move.

Going ahead, the immediate resistance is placed at Rs 519 (100 percent Fibonacci extension level of Rs 257 –413 and projected from Rs 402), followed by Rs 578 (138.2 percent Fibonacci extension level of the rise from Rs 257-413 and projected from Rs 402).

The key support levels are Rs 427 (breakout level) and Rs 363.

One can buy the stock at the current levels and add on dips till Rs 450 for the target of Rs 519, followed by Rs 578 with a strict stop loss of Rs 425 on a closing basis.

TCS | LTP: Rs 3,167 | Target price: Rs 3,620 | Stop loss: Rs 3,060 | Upside: 14%

On the monthly charts, TCS has been forming higher top higher bottom formation since June 2020 which shows the long-term bullish trend of the stock is intact.

The stock has made a lifetime high of Rs 3,339.80 in January 2021 and after that, it corrected to 20-week SMA. It took strong support there and bounced back which shows medium-term up-trend is also intact.

This week, it has given a breakout of the small consolidation phase of the last four weeks and is currently trading near a 5-week high which shows a strong positive undertone of the stock for the medium-term.

In the last trading session, the stock broke out of a descending trend line at Rs 3,155 with volume confirmation on the daily chart which indicates the stock is now ready to move in the upper orbit of bullishness.

The momentum indicator RSI plotted on multiple timeframes, can be seen placed above 60 level and is moving higher, indicating the stock is currently in bullish momentum.

Resistance is placed at Rs 3,340 (all-time high), followed by Rs 3,461 (78.6 percent Fibonacci extension level of Rs 2,600–3,340, projected from Rs 2,880) and towards Rs 3,620 (100 percent Fibonacci extension level of Rs 2,600–3,340, projected from Rs 2,880).

The key level to watch out for on the downside is Rs 3,060 (weekly low), followed by Rs 2,987 (3-week low).

One can buy the stock at the current level for the target of Rs 3,340, followed by Rs 3,461 and Rs 3,620 with a strict stop loss of Rs 3,060 on a closing basis.

ACC | LTP: Rs 1,912 | Target price: Rs 2,170 | Stop loss: Rs 1,830 | Upside: 13.5%

ACC has been forming a higher top higher bottom pattern on all timeframes since June 2020 which shows a strong positive undertone of the stock for the medium to long-term.

On the weekly charts, we have seen a multiyear breakout at Rs 1,830 with volume confirmation and also the stock is sustaining above that level which indicates its strong bullish nature.

RSI plotted on multiple timeframes can be seen placed above 60 level and moving higher, indicating that the stock is currently in a strong positive momentum.

Immediate resistance is placed at Rs 1,981 (100 percent Fibonacci extension level of Rs 1,289 to Rs 1,785 and projected from Rs 1,485), followed by Rs 2,170 (138.2 percent Fibonacci extension level of Rs 1,289 to Rs 1,785 and projected from Rs 1,485 level).

The key support levels are Rs 1,830 and Rs 1,680. One can buy the stock at the current level with a target price of Rs 1,981, followed by Rs 2,170 and a strict stop loss of Rs 1,830 on a closing basis.

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