EquiChain Wealth

BHARTIARTL @ 1272 🔥🔥

We have bullish view on telecom sector as we see direct beneficiary as this two players while IDEA is avoid for us BHARTIARTL RELIANCE (JIO) Please note strategy for FPO on IDEA may differ from positional view Disclaimer: https://bitly.ws/3a3Tg

Post Fund Raise, Vodafone Idea CEO Bats For Tariff Hike — '20% Not Enough' Read more at: https://www.ndtvprofit.com/bq-blue-exclusive/post-vodafone-idea-fpo-ceo-says-even-20-tariff-hike-insufficient Copyright © NDTV Profit

Nifty @ 22229 & Banknifty @ 47650 & VIX @ 12.26 INFY result & its guidance will provide fresh direction for IT stocks today. Geo-political continues to impact sentiment - upside remains limited. HDFCBANK result over the weekend on 20-Apr-24 IDEA - FPO - We have positive view on BHARTIARTL with positional / medium term According to us buy zone comes on Nifty @ 21945 - 21980 & Banknifty @ 46950 - 47062 Disclaimer: https://bitly.ws/3a3Tg

IT stocks - leading today's fall Global cues: Remain concern in near term Domestic theme / General Election - We remain bullish Nifty @ 21945 - 21980 - Critical support zone - we expect Nifty to hold this level Banknifty @ 46950 - 47062 - Critical support zone - we expect Nifty to hold this level We would prefer to deploy fund gradually on domestic theme Nifty @ 22095 & Banknifty @ 47414 & VIX @ 12.83 Disclaimer: https://bitly.ws/3a3Tg

Equichain Valuation Matrix – U.S. Interest rate & Domestic Election In last two week in valuation matrix segment, we have covered IT, Banks, Defense & Metal stocks ahead of result season and today we will be focusing on recent development which could impact valuation matrix for short term and bring in more volatility. In today’s article we will discuss changing sentiment after strong U.S. CPI & Core CPI data which could impact interest rate globally and the second important factor that we will be discussing is BJP’s manifesto for general election 2024. Geo-political development is having impact in near term and we would like to believe that it is short term factor and tension could ease in coming weeks. U.S. Interest rate – Cut expected in September 2024 But strong CPI & Core CPI data released on 10-Apr-24 for month of March 2024 came above estimate and were strong than expected. Fed fund rate monitor tool showed change in the trend and now market is expectation first rate cut in September 2024 instead of June 2024. General Election 2024: BJP ‘s manifesto in focus BJP victory in state election raised the hope of clear majority in general election 2024. First phase of voting for general election 2024 to begin from 19-Apr-24 and we believe market will rally on BJP ‘s clear majority. BJP is eyeing 370+ seats for party and NDA is surpass 400-mark. Equichain Valuation Matrix: Political stability will boost sentiment. We believe that market has factored in clear majority for BJP but not factored in 370+ for BJP and 400+ for NDA. If BJP / NDA manages to this result, we expect next round of rally which could bring indices to new high which could bring Nifty 24500 & above. Our strategy would be to use any correction to deploy fund and we continue to maintain bullish stance on Indian market. We remain would focus on defense, banking stocks and infrastructure story. Click on the attachment to read the full report posted above 👆👆 Disclaimer: https://bitly.ws/3a3Tg

Equichain Valuation Matrix: Strategy on defense stocks • Focus on volume growth & order book will provide fresh triggers. • Defense order other than domestic market will be key positive trigger. Now many defenses contract are done with government to government rather than government to company – so strong & stable government will provide fresh triggers. • Continuation of current government post general election will provide next round of rally in defense stock and we expect that rally will be broad based and earnings will provide fresh round of rally. — from 9-Apr-24 report View on defense stocks remain bullish - details mentioned in 9-Apr-24 report Disclaimer: https://bitly.ws/3a3Tg

Nifty @ 22146 & Banknifty @ 47361 & VIX @ 12.59 We would use this correction as opportunity to deploy fund with stock specific approach. Sector picks - Domestic economy & consumption story We will be looking at INFY guidance and IT sector with global cues & INFY result on 18-Apr-24 View / Horizon: General election result on 4-Jun-24 Disclaimer: https://bitly.ws/3a3Tg

IT stocks - reacting to TCS result & weak global cues on geo-political tension Most of the IT stocks are stable & TCS @ 4050 is up by 1.5%. INFY result on 18-Apr-24 - We will be watching its full year guidance closely. View: Positive & weight - Neutral Fresh buy on decline Disclaimer: https://bitly.ws/3a3Tg

Trade Setup for 15-Apr-24 Geo-political tension continues to drive the market sentiment. Iran retaliated to Israel attack and situation now seems to be under control. Iran's attack over the weekend was one-off retaliation attack. TCS declare result after market hours on 12-Apr-24. Margin beat at 26% and highest order book are positive factors while revenue growth remains concern on fresh spending by clients of geo-political uncertainty. BJP releases its manifesto for 2024 on 14-Apr-24. BJP continues to focus on development with spending on Infrastructure will be among top priorities. Market View: GIFT Nifty indicates gap-down opening of around 120 - 140 points, Any further correction due to geo-political tension can be seen as opportunity to deploy fund. Any correction due to disappointment on corporate earnings to be seen as warning sign for that particular sector or stock. For IT stock - market will be looking at INFY earnings & guidance for next FY - result to be declared on 18-Apr-24.

View on Banking stocks - Will prefer to accumulate on any decline.............. Expect result season to be positive for banking stocks............. Disclaimer: https://bitly.ws/3a3Tg

Fresh view on IT stocks - After TCS result today.............

Nifty @ 22572 & Banknifty @ 48596 & VIX @ 11.48 1) TCS result - after market hours 2) India's CPI & IIP data - after market hours We would find opportunity in case of any further correction. Few U.S. Banks are due to announce their earnings today........ Positional view & strategy: Accumulate Disclaimer: https://bitly.ws/3a3Tg

Gold @ $2405 At life-time high 🚀🚀

Trade Setup for 12-Apr-24 Indian Market on Wednesday closed at record high as weekly options expiry for Nifty & Banknifty, as Thursday was trading holiday. Global cues: U.S. CPI & Core CPI inflation data came above market estimate at 3.5% Vs 3.40% estimate, global market corrected on Wednesday reacting to strong CPI data. U.S. PPI & Core PPI data came on Thursday was soft giving some relief to market. NASDAQ recovered sharply on recovery from tech stocks. Earnings in focus: TCS to declare result today after market hours. Major U.S. banks will be announcing their earnings today are - JPMORGAN, WELLS FARGO, BLACK ROCK & CITI. BHARTI HEXACOM listing today, India's CPI & IIP data will be release after market hours today. Market View: GIFT Nifty indicate gap-down opening of around 130 - 150 points on back of strong U.S. CPI & Core CPI data released on Wednesday. We see any major correction as buying opportunity. GIFT Nifty @ 22674 Vs 22803 Nifty future previous close at 7:45 AM.

Key events / Result in next 1 - 3 days Domestic event / Result 1) TCS result on 12-Apr 2) India's CPI inflation data & IIP date - 12-Apr 3) Bharti HEXACOM listing on 12-Apr Global event / Result 1) U.S. CPI & Core CPI data - later tonight 2) US FOMC Meeting minutes - later tonight Key risk indicator ahead of event such as Gold trading at life time high above $2350, high gold price is also supported by geo-political tension and China's buying. Dollar index stable around 104 & US 10-year bond yield @ 4.355 is stable. We read this setup as market going is expecting inflation to come down and probability of June rate cut by US Fed will increase and positive for risk-on sentiment. Disclaimer: https://bitly.ws/3a3Tg

Trade Setup for 10-Apr-24 Indian market closed flat on Tuesday after sell-off from record high on profit booking, Banknifty manage to close with gain of around 0.3%. Nifty & Banknifty - Weekly options expiry due today as there is trading holiday tomorrow. Global cues: US market closed flat as market waits for U.S. CPI & Core CPI inflation data due later tonight. Indian market will react to U.S. CPI & Core CPI inflation data on Friday and GIFT Nifty indicates gap-up opening of 80 - 100 points. Market View: Market at fresh high going into result season and we maintain bullish stance with medium term view, any correction can be used as opportunity to buy / deploy fund.