HDFCBANK RESULTS MAY SHOW WEAKNESS

"BUY HDFCBANK FUT 2 LOT ABOVE  1435 TARGET 1443/1450 SL 1425

SELL HDFCBANK FUT 2 LOT BELOW 1400 TARGET 1385/1370 SL 1420"

Covid-19 continues to be the most important factor for the market at this juncture and we expect next week also market to remain volatile in the short term.All the commodity and economy-facing stocks could be under pressure due to the second wave of covid-19. Buying on dips is a better strategy at this time for the metal sector. Don't look for the next hdfc bank, icici bank and bajaj finance from the banking space. Bank nifty is down more than the broader indices. HDFC Bank, India’s largest private sector lender, is likely to report a 20% year-on-year rise in net profit to Rs 8,550.3 crore for the quarter ended March 31, HDFC Bank will report its quarterly and full-year earnings today. Markets expects HDFC Bank to report a gross non-performing loans ratio of 1.4 % for the quarter.

We can go with mindtree and cyient from midcap it space. We think infosys and hcl tech are better growth levers as compared to tcs and the valuations are cheaper. Pharma is a defensive sector in some ways. It doesn't get affected by lockdowns because if there are sick people who need medicine they will need medicines irrespective of the lockdown.we prefer eicher motors as a nice long-term play. Hero motocorp has lagged on product innovation. The core business is a cash cow, keeps on growing at a reasonable pace but it is not an exciting company. So, we are quite comfortable with our long-term positioning as far as healthcare stocks are concerned. We own divi's laboratories, dr. Lal path and abbott as well and neither are we thinking of increasing or reducing it based on what we are seeing around us.
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WHAT SHOULD INVESTOR DO ON FRIDAY ?

Today market ended a volatile session on a positive note despite a sharp rise in covid-19 infections across the country. Firm global cues boosted the market sentiments.After the imposition of restrictions by the Maharashtra government, delhi also announced a weekend curfew to tame the spread of the deadly virus, now market is becoming more cautious as states increase restrictions due to the havoc created by the virus. Growth-oriented sectors and stocks are losing momentum, while defensives like pharma, FMCG & IT are gaining.States, however, will not opt for a complete lockdown like last year but high valuation will lead to a phase of short-term consolidation.

Among the blue-chip stocks, tcs was the top gainer, rising 3.96 per cent. Wipro, cipla, ongc, icici bank, hdfc bank, adani ports, tata steel, indian oil and sbi life insurance were other gainers. Share price of software services major wipro gained around 3% today ahead of the company's announcement of its fourth-quarter results for financial year 2020-21. Today wipro opened the trading session wipro opened at 418.90, touching an intraday high of  430 &  an intraday low of  415, in the session so far, against its previous close of  418.95 wipro was last trading at  2.70 % higher at  429.95.
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UPCOMING STOCK RESULTS CAN GIVE MARKET A BOOST

TCS  announced its results on Monday & many other IT firms like Wipro, Infosys and Mindtree will be announcing their results in the coming few days. So, it will interesting to see how these IT companies fair and the impact of the COVID-19 pandemic on them. Thus, keep a close watch on these stocks.
WIPRO- The results of this IT firm will be announced on April 15. But in the last quarter, the IT major had reported 20 % rise in consolidated net profit to Rs 2968 crore. It reported a 3% increase in revenue to Rs 15670 crore in the third quarter of FY21 compared to the same quarter last year. Thus there are expectation this quarter as well. Meanwhile, Wipro share was down to Rs 429.80 per share.

INFOSYS: Infosys is scheduled to announce its fourth-quarter results later today. The company will also consider a final dividend for FY21 along with a proposed share buyback. We expect IT companies to post robust revenue growth. Infosys share price surged 8.5% in Jan-Mar 2021, and 11% so far this year . During the quarter ended March 31, 2021, the IT stocks jumped 6.61%, as against a rise of 5% in the nifty. Earlier this week, TCS reported a 15 % on-year rise in net profit and declared a dividend of Rs 15 per share.

MINDTREE: IT firm’s results are expected on April 16, 2021. It was reported a 65.7% rise in consolidated net profit to Rs 326 crore for the December 2020 quarter. The company had posted a net profit of Rs 197 crore in the corresponding period last year, Mindtree said in a regulatory filing. So, such growth is expected this quarter as well. Mindtree was trading at around – 3%. The lowest for this stock yesterday was Rs 2,101.05 per piece. 

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METAL STOCKS CONTINUE TO SHINE ☆ ☆

"BUY JSWSTEEL FUT 2 LOTS ABOVE 633.50
TARGET 637/640.5 SL 627"

In this year metal stocks has gained 37 % as compared to a 6 % rise in the year-ago period. It has been responsible for supporting the nifty to a great extent. 9 out of 10 stocks in the metal stocks have delivered 20-60% returns. These include nmdc, Hindustan Zinc, Vedanta, Jindal Steel & Power and JSW Steel Ltd, data collated from Ace Equity shows. Coal India was the only stock that fell over 4% during the period.

In metal stocks Momentum is likely to continue in the metal space but after a steep rally, there could be some consolidation. Investors can opt to go long in the metal space on dips. “We have been bullish on the metal sector for the last two weeks. The sector had a short-term correction in the month of March that unfolded in a channelized manner. Traders and investors need to have exposure in the metal stocks; however, they need to wait for a fresh setup to take a fresh entry. Metal sector has been the dark horse and is also one of the leading sectors responsible for supporting the Nifty to a great extent. However, the risk-to-reward ratio is not favorable for entering fresh longs here. The bias for metal sectors is still positive and one can look to enter longs on dips or a minor correction for another three-five percent upside.
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NIFTY ON THE CLOUD👍 PHARMA ON THE GROUND👎

On an auspicious day today we saw a partial reversal of the speculative unwinding witnessed yesterday. Today nifty ended near the day's high level  above 14500 led by the  auto, metal, financial and energy stocks. Bulls regained the momentum in afternoon trade as the see-saw battle between the Virus & Vaccine tilted towards the latter with the approval of the third vaccine. The dovish stance of the RBI gained over inflation in the minds of investors as we saw investor interest in BFSI. The broader markets though did see profit-taking in IT & pathology names today. IT sector broke the trend due to profit booking as initial Q4 results were in line with expectations not providing enough leeway to a highly valued sector. While Industrial production for February declined by 3.6% primarily due to contraction in the manufacturing and mining sectors. 

March quarter earnings and record deal wins could not make the IT stock rally, even when the numbers broadly met or were slightly ahead of Street estimates While we suggest to stayed positive on TCS' growth prospects, we see limited earnings upgrades for the stock from here on due to lack of positive surprises and expensive valuations. The Tata group company declared a final dividend of Rs 15 per share, taking its total dividend payout for FY21 to Rs 38 per share.TCS reported Rs 9282 crore in profit and Rs 44636 crore revenue in the last quarter of the year ended March 31.
TOP GAINER- M&M, TATAMOTORS, MARUTI,HDFC,JSWSTEEL
TOP LOSERS - TCS, DRREDDY,TECHM, WIPRO & DIVISLAB

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