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April 28, 2025

Daily Morning Report Date: 28.04.2025
NIFTY OUTLOOK: 24039.35 FII: 2952.33 cr DII: 3539.85 cr
(28th April – 2nd May 2025)
As discussed in the previous report dated 21st April 2025, market behaviour remained on expected lines during the past week. Nifty broke above the challenging resistance levels and rallied up to 24365.45 but failed to sustain at highs, reversing and closing at 24039.35, near our level of 24043.
A shooting star candlestick pattern on the weekly chart suggests an interruption to the prevailing uptrend, indicating bears are gaining control and may drive the index downward. This southward move may find support around 23856 to 23673. A break below these levels and sustained weakness may drag Nifty further to 23490 to 23303.
Though the short-term trend remains positive, weakening momentum last week suggests that 24237 to 24425 may act as immediate resistance. A breakout above these levels and sustained strength may push Nifty up to 24589 to 24777.
Bank Nifty OUTLOOK:
SPOT: 54664.05 PCR: 0.99 Max CE OI: 53000 Max PE OI: 53000
On 28th April 2025, the Bank Nifty index closed at 54664.05, down 0.97% from the previous day. The total movement in Bank Nifty was 1174.10 points, with an intraday high of 55350.55 and a low of 54176.45.
Previous trading day’s high of 55350.55 and low of 54176.45 can be considered as resistance and support respectively for today’s trading.
Technical View on Daily Chart:
The important technical levels on the daily chart of Bank Nifty are 55200 as resistance and 54100 as support. If the index crosses 55200, it may move towards 55700. If the index breaches the support level of 54100, it may touch 53600.
The Relative Strength Index (RSI) for the Bank Nifty index is at 67.20. Below 30 is considered oversold and above 70 overbought.
Bank Nifty Day SMA Analysis:
Bank Nifty is trading above 7 out of 8 SMAs (10, 20, 30, 50, 100, 150, 200 Day) and below 1 out of 8 SMAs (5 Day).
No candlestick pattern was identified in Bank Nifty.
Macros
1. Dollar index @ 99.48
2. S&P 500 Vix @ 24.84
3.Crude @ 62.96
4.10 years bond yield
Note:
Conflicting US-China trade statements continue to add to global confusion. U.S. President Donald Trump claimed in an interview that tariff negotiations were underway with China, but Beijing denied any talks, calling for the U.S. to stop creating confusion.
As far as data is concerned, numbers remain stable. As expected and mentioned earlier, Gold has started correcting and has dropped nearly $300 from its peak. It may further correct to the $3325–$3290 range.
Conclusion:
Data remains stable. Keep a close watch on bond yields — if they fall, Gold may see more correction as money could shift from safe havens to bonds and the dollar. Currently, higher bond yields suggest money is not flowing into bonds or the dollar.
Regarding Indian markets, tensions on the LOC may cause volatility, but any dip towards 23300–23100 on Nifty could be a buying opportunity.
The earnings season has begun and so far only 10% of results have been good. We need to stay cautious and trade based on upcoming results.
Contributed by
Ashok bhandari : INH000019549
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SBL BEARING Q4: CONS NET PROFIT UP 35% AT 2.8 CR (YOY), DOWN 4% (QOQ)
REVENUE UP 21% AT 13.81 CR (YOY), UP 11% (QOQ)
EBITDA UP 14% AT 3.24 CR (YOY), DOWN 9% (QOQ)
MARGINS AT 23.46% V 24.85% (YOY), 28.6% (QOQ)
@beatthestreet10
NRB Bearings Board Approves ₹200 Crore Expansion to Strengthen Presence in European EV, Hybrid, and ICE Markets
₹200 crore investment to expand manufacturing and R&D over two years.
Expansion supports ₹600 crore lifetime business from BMW, Stellantis, Renault, and others.
Focus on EV, Hybrid, and ICE next-gen platforms; secured new ₹12 crore E-Drive orders.
Capacity enhancement includes Cylindrical, Needle, Thrust, Combination, and Taper Roller Bearings.
Strengthens position as key supplier to major European automotive OEMs.
@beatthestreet10
MMP IND; Board Meet On 27 April to Consider and Discuss the Incident at Umred Unit and Approved Further Course of Action for Risk Mitigation in Future.
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ADANI ENT; BOARD MEET ON 1 MAY ON FUND RAISING VIA EQUITY SHARES
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DIXON, AMBER, REDINGTON, NETWEB, AMBER, SYRMA; Govt launches ₹23,000-cr Electronics Components Manufacturing Scheme to boost production; applications open May 1 with incentives for turnover, capex, investment, and job creation.
@beatthestreet10
APOLLO TYRES; Apollo Tyres Plans to Shut Netherlands Plant by 2026
Apollo Tyres’ subsidiary, Apollo Tyres (NL) B.V., has submitted a request to discontinue tyre production at Enschede, Netherlands.
Final closure expected by summer 2026, subject to consultation and board approval.
Enschede plant contributed 5.8% of consolidated revenue and 8.4% of net worth in FY24.
Closure reason: high production costs.
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Rajputana Biodiesel; Co. Wins ₹51 Crore Biodiesel Supply Tender
Rajputana Biodiesel Ltd and subsidiary Nirvaanraj Energy secured order to supply 6,034 KL biodiesel from IOCL, BPCL, and HPCL.
Order value: Approx. ₹51.13 crore for April–July 2025.
Boosts FY26 revenue visibility and growth prospects.
Rajasthan and Uttar Pradesh plants involved in supply.
@beatthestreet10
ATUL AUTO; Atul Auto, Subsidiary Barred by Delhi HC from Using "MOBILI" Brand Amid Trademark Dispute with ExxonMobil
Delhi High Court passed an ex-parte order restraining Atul Auto and subsidiary Atul Greentech from using "MOBILI," "Mobili," or "Mobili Swap" brands.
Action follows Exxon Mobil Corporation’s trademark infringement claim over the "Mobil" mark.
Order received on April 26, 2025; next hearing on August 25, 2025.
Company to appeal; expects no material financial impact.
Atul Auto was using the trademark "ATUL MOBILI" for its electric vehicles.
@beatthestreet10
ATUL AUTO; Atul Auto, Subsidiary Barred by Delhi HC from Using "MOBILI" Brand Amid Trademark Dispute with ExxonMobil
Delhi High Court passed an ex-parte order restraining Atul Auto and subsidiary Atul Greentech from using "MOBILI," "Mobili," or "Mobili Swap" brands.
Action follows Exxon Mobil Corporation’s trademark infringement claim over the "Mobil" mark.
Order received on April 26, 2025; next hearing on August 25, 2025.
Company to appeal; expects no material financial impact.
Atul Auto was using the trademark "ATUL MOBILI" for its electric vehicles.
@beatthestreet10
Adani Enterp.
Board Meeting May 1 to consider equity fund raising.
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Nitco Limited
https://t.me/BeatTheStreet10
Kamath Associates (Zerodha Family Office) bought 15L shares last week at around 120-130
https://t.me/BeatTheStreet10
@beatthestreet10
INVESTEC ON RBL BANK
Upgrade to Buy from Hold with target price of ₹230 vs ₹170
Slippages declined to 4.6% vs 5.9% in 3Q
FY26/27 RoE rises to 7% / 11% and valuation (at 0.7x FY26E BV), is inexpensive in context
Credit cost to decline in FY26
Bank aims to primarily grow secured retail and SME loans going ahead - guiding for ~16-17% loan growth in FY26
Expect NIM to moderate to 4.7%- 4.8%
@beatthestreet10
Yes Securities Cement Channel Check
After weak pricing over a couple of quarters, the industry has witnessed a strong price hike in Apr’25.
The major contributions came from the southern region price hike, followed by the east, north, central, and west regions.
All-India avg cement prices have increased by ~Rs15/bag MoM, led by Rs47 in the south, Rs18 in the east, Rs5 in the
north, Rs3 in the central region, and Rs2 in the west
@beatthestreet10
GLOBAL
Global Trend, Big Tech Stocks-Trend Positive
Trump impacts waning off, gold trade coming down
Beijing exempted some U.S. imports from its 125% tariffs
Brent crude gains for the 2nd day in a row to end near $65.9/bbl
Dollar Index at 99.4-Stable and below 100-Still better for Emerging Markets
@beatthestreet10
MANAKSIA STEELS : LARGE TRADE NSE
SHREE BAHUBALI STOCK BROKING LIMITED BOUGHT 4.15 LKH SHARES ( 0.63% STAKE ) @ ₹ 71.51/SHARE
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JP MORGAN ON RELIANCE
MAINTAIN OVERWEIGHT , TARGET PRICE: ₹1,530
The Acceleration Of Reliance Retail's Growth To 16% YoY Was A Key Positive In Q4
With Favourable Valuations, This Could Drive The Share Price In The Near Term
Elevated Capex Remains A Key Concern
Q4 Consolidated PAT Of 19,400 Cr Was 4% Ahead Of Est & Up 2%/5% YOY/QoQ
EBITDA Was Largely In-line, & The Bottom Line Was Supported By Higher-than-expected Other Income & Lower Tax Rates
@beatthestreet10

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