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Nifty Outlook

Markets started the week on a robust note, tracking favorable cues from both the domestic and global front. Upbeat global markets triggered a firm start which further boosted with the news of a reduction in the COVID cases. A mixed trend was witnessed on the sectoral wherein banking was a major attraction as it rose nearly 4%. Among the benchmark indices, Nifty settled above 14,900 levels; up by 1.67%.

Markets are rejoicing the early signs of virus peak and stability in the global markets. But, we feel participants shouldn’t read much into a single-day rise and wait for a decisive break above 15,000 in Nifty. Needless to say, the performance of the banking and financial pack holds importance. Meanwhile, participants should continue with a positive yet cautious approach and maintain their focus on risk management.

News

* Shakti Pumps reported its Q4FY21 numbers wherein revenue was at Rs. 319.7 in comparison to Rs 92.6 cr in the same quarter of last year. Its net profit came at Rs. 30.5cr.

* Colgate Palmolive posted revenue growth of 19.8% YoY to Rs. 1,283 cr in Q4FY21. Its net profit rose by 54.1% YoY at Rs. 314.6 cr.

* Federal Bank announced Q4 FY21 results wheren net profit was up by 58.6% at Rs 477.8 cr.

Derivative Ideas

TRENT FUTS added around 20% in open interest as LONG buildup was seen in it. Current chart pattern also indicates further up move in its price. We suggest buying in TRENT as per below levels.

Strategy:- BUY TRENT BETWEEN 780-785 STOPLOSS 765 TARGET 820.

Investment Pick - Crompton Greaves Consumer Electricals Ltd.

Crompton Greaves Consumer Electricals (CGCE) is engaged in manufacturing and marketing of a wide range of consumer products ranging from fans, light sources and luminaires, pumps and household appliances such as geysers, mixer grinders, toasters and irons.

We like CGCE for its strong growth potential, consistent rise in market share in its key segment coupled with healthy dividend pay-out ratio, strong cash flow generation, lean working capital cycle and robust return ratios. We recommend a Buy on the stock with a target price of Rs. 479.

Buy Crompton Greaves Consumer Electricals Ltd @ 9-12 Months CMP 373.65 TGT 479

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