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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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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 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. 

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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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Except FMCG, all other sectoral indices ended in the green, with the Nifty metal index rising 5 percent and PSU bank 2.6 percent.

Sensex

The benchmark indices ended a percent higher on the first day of the new financial year, supported by metal and financials. At close, the Sensex was up 520.68 points, or 1.05 percent, at 50,029.83 and the Nifty was up 176.70 points, or 1.20 percent, at 14,867.40. Except FMCG, all other sectoral indices ended in the green, with the Nifty metal index rising 5 percent and PSU bank 2.6 percent.

Sunteck Realty | CMP: Rs 280.85 | The stock ended in the green after the company said it had secured a seven-acre land parcel in Mumbai's Borivali. The Mumbai-based property developer will develop a luxury residential project in Borivali. (West). JLL India would be the exclusive transaction partner for the joint venture, said Sunteck in its BSE filing, adding it expected to generate a project topline of around Rs 1,750 crore over the next four-five years.

Steel Strips Wheels | CMP: Rs 720 | The share gained over 3 percent after the company achieved the highest-ever wheel rim sales. ".... achieved highest ever wheel rim sales of 16.73 lakh in March 2021 versus 7.88 lakh in March 2020, representing a growth of 112.44% YoY," the company said in a release. "The company has achieved gross turnover of Rs 307.38 crore in March 2021 versus Rs 102.28 crore in March 2020, thereby recording a growth of 200.52% YoY. It achieved a net turnover of Rs 253.29 crore in March 2021 versus Rs 84.73 crore in March 2020, recording a growth of 798.92%," it added. The export segment volume rose 221 percent YoY.

Reliance Infra | CMP: Rs 38.35 | The share price jumped over 9 percent after the company sold Reliance Centre in Mumbai to Yes Bank for a consideration of Rs 1,200 crore. "Reliance Infrastructure and YES Bank announced a sale transaction of Reliance Centre, Santacruz, Mumbai to YES Bank," the company said in a press release to the exchanges. Entire proceeds from the sale are to be utilised for repaying the debt of Yes Bank, Reliance Infrastructure said.

Hindustan Aeronautics | CMP: Rs 1,040 | The scrip added over 4 percent after the company reported an all-time high revenue of over Rs 22,700 crore for the year ended on March 31, 2021. "The corresponding figure for the previous year stood at Rs 21,438 crore. It posted a revenue growth of around 6 percent in FY 2020-21, thanks to the improved productivity after suspending the operations for one month in the beginning of the year, the company said.

JSW Steel | CMP: Rs 505.50 | The stock jumped over 7 percent after the company announced the commencement of production at its Dolvi Works facility. " .... has commenced production of Hot Rolled Plates from the new 5 MTPA Hot Strip Mill facility at its Dolvi Works," the company said in the release. In another statement, the company said it completed the acquisition of the manufacturing business of high-grade steel plates and coils of Welspun for Rs 848.5 crore.

Maruti Suzuki | CMP: Rs 6,922 | The stock ended in the green after the auto major posted total sales of 1,67,014 units in March 2021, consisting of domestic sales (passenger vehicle and light commercial vehicle) of 1,49,518 units, sales to other OEMs of 5,899 units and exports of 11,597 units, the company said in the release. For the full financial year 2020-21, the company posted a total sales of 14,57,861 units, which is 6.7 percent lower than FY 2019-20, it added.

Bharat Electronics | CMP: Rs 126 | The share price ended in the green on April 1. The company achieved a turnover of about Rs 13,500 crore (provisional & unaudited) during financial year 2020-21, against the previous year's turnover of Rs 12,608 crore, the company said in the press release. Its order book as on April 1 is at around Rs 53,000 crore. In the year 2020-21, the company secured orders worth Rs 15,000 crore.

Mahindra & Mahindra | CMP: Rs 806.90 | The stock added over a percent as the company declared its sales for the month of March. It reported a 128 percent YoY jump in total tractor sales to 30,970 units for March. The total sales in March 2020 stood at 13,613 units, the company said in a statement. Tractor sales in the domestic market grew 122 percent to 29,817 units in March, compared with 13,418 tractors sold a year ago. Sales in the overseas market surged 491 percent to 1,153 units, from 195 tractors in the year-ago month, it added.

IRB Infra | CMP: Rs 114.05 | The share price jumped over 5 percent after the company received a letter of award from NHAI for the 'rehabilitation' and upgrade of 4-lane configuration and strengthening of Punjab/Himachal Border from 11 km to 42 km (Design Length 28.700 KM) of NH-20 of Pathankot-Mandi section in the state of Himachal Pradesh on hybrid annuity mode.

Indraprastha Gas | CMP: Rs 526 | The stock gained over 2 percent after the company signed a long- term gas supply agreement with Delhi Transport Corporation (DTC) to supply CNG for a period of ten years till December 2030.

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New tax rules to Saral Pension policy: Most important changes in personal finance from April 1

As the new financial year begins, there will be a host of changes in how you spend money. From April 1 onwards, many new norms will be effective such as changes in airfare to standard insurance policies. From April, if employees’ contribution to provident fund exceeds Rs 2.5 lakh in a year, the interest earned on contribution over Rs 2.5 lakh will be taxable

New tax rules on provident fund: Interest on employee contributions to provident fund of over Rs 2.5 lakh per annum would be taxed, finance minister Nirmala Sitharaman announced in Budget 2021. The Centre increased the deposit threshold limit to Rs 5 lakh per annum in provident fund for which interest would continue to be tax-exempt, if there is no employer contribution.

Inclusion of dividend income in ITR for the year ended March 31 2021: the dividend received from Indian Companies as well as mutual fund schemes were tax free in your hands as the tax was on the dividend or income distributed was paid by the Company or the mutual fund till March 31, 2020.

-LPG cylinder prices to become cheaper: The price of domestic cooking gas (LPG) to be reduced by Rs 10 a cylinder from April.

-Air travel to become costlier: Aviation regulator Directorate General of Civil Aviation (DGCA) has hiked air security fee (ASF) that will make your air travel costlier from April. While the rise in ASF for domestic passengers is of Rs 40, for international passengers, the rise is of Rs 114.38.

-Standard personal accident insurance policy: Commencing from April 1, all general and health insurers to offer a standard personal accident insurance product. Saral Suraksha Bima will offer a minimum sum insured of Rs 2.5 lakh. The maximum sum insured will be Rs 1 crore. Sum insured offers should be in multiples of Rs 50,000, IRDAI said, adding insurers can offer on their own beyond the mentioned range under this policy. Anyone over 18 years old can buy this policy. The maximum age at entry is set at 70.

Tax benefits on Unit-Linked Insurance Products (ULIP): If the annual premiums are Rs 2.5 lakh or more then the maturity gains in Unit Linked Investment Plan (ULIPs) would be taxed, the finance minister announced in union budget 2021.

HSN code mandatory for businesses with over Rs 5 crore turnover: On the Goods & Services Tax (GST) front, the generation of e-invoice by businesses with turnover of over Rs 50 crore will be mandatory from April.

Reduced period for filing the belated ITR or for revising your filed ITR: Previously, if you failed to file your ITR by the due date of July 31 you could still file it by March 31 with late fee. Likewise, after having filed your ITR, if you noticed any omission or mistake, you could revise the same by March 31 of the same year. But, Finance Bill for 2021-2022 has proposed to reduce this time limit by three months and therefore you will have time to file your belated ITR or revise your ITR till December 31 of the same financial year.

Senior citizens above 75 years exempted from filing income tax return: Starting from April 1, Senior citizens above the age of 75 years, who only have pension and interest as a source of income will be exempted from filing the income tax returns. It must be noted that the senior citizens who are above 75 years age, are not exempted from paying tax but only from filing income tax return (ITR) if they are eligible to certain conditions. There is massive relief extended to a section of senior citizens. For those aged 75 or more, and who only have pension and interest income, filing their income tax returns will not be required. The finance minister didn’t specify whether dividend income is also included to help senior citizens qualify. Many senior citizens also invest a portion of their portfolios in equities. The budget fine print is likely to provide greater clarity

-Saral Pension policy: All life insurance companies will mandatorily offer a standard individual immediate annuity product from April, asked by the Insurance Regulatory and Development Authority of India (IRDAI). Under Saral Pension policy, minimum annuity of Rs 1,000 per month, Rs 3,000 per quarter, Rs 6,000 per half year, and Rs 1,2000 per annum will be provided. The minimum entry age to buy this plan will be 40 years and the maximum will be 80 years. This will be a single premium, non-linked non-participating immediate annuity plan.

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