Trading Idea for 15 Apr 20 (Wednesday): Important data to know before market opening

The nifty Support level is placed at 8905.25, followed by 8810.75. If Nifty starts going up, then the resistance level will be 9105.25 and 9200.25. While the Bank Nifty support level is placed at  19228.25 and 18970.75. If Bank Nifty starts going up, then the resistance level will be 19825.50 and 20125.50.

Prime Minister Narendra Modi announced an extension in lockdown will continue till May 3. It will an adverse impact on our economy and corporate earnings. So Market may again volatile due to extended lockdown period.

FII and DII data

Foreign Institutional Investors sold shares of Rs. 1243.74 crore while Domestic Institutional Investors sold shares of Rs. 1096.89 crore in the Indian equity market on April 13, as per data NSE data.

F&O Ban on NSE

No security is under the F&O ban for tomorrow (Apr 15).

Latest Corporate Action

• Jindal Steel & Power –   CRISIL has given its outlook on the rating that has undergone revision from positive outlook to under watch with negative implications, maintaining the rating category of BBB Long term and A3(+) for the short term.

• Future Retail –   Brickwork has given its BWR A+ (Credit Watch with Negative Implications) from BWR AA- Negative, On account of ongoing challenges faced in maintaining profitability and liquidity of the company and its group due to disruption in operations because of COVID- 19 and the economic slowdown for Proposed NCD (Long Term) & withdrawal on account of request from the company (Earlier rating was BWR A1+). The rating was withdrawn as the rating has not been utilised by the company for Proposed Commercial Paper (Short Term).

• Future Enterprises –  Brickwork has given its BWR A (Placed on Credit Watch with Negative Implications) On account of ongoing challenges faced in maintaining profitability and liquidity of the company and its group due to disruption in operations because of COVID- 19 and the economic slowdown for Non – Convertible Debentures.

• Chalet Hotels –  ICRA reaffirmed the rating ICRA BBB+ in respect of terms loans, Long Term Fund based limits & Long Term unallocated limits and ICRA A2 for Short term Non-fund based limits and Short term Unallocated limits. The Outlook for the long term rating has been revised from Stable to Negative.

• Muthoot Finance – Moody’s Investors Services has affirmed Muthoot Finance Limited’s Ba2 Corporate Family Rating and its outlook changed to negative from stable.

Board Meetings

• Tata Communication –   Board will consider and approve fundraising by way of a private placement of rated, secured, listed, Redeemable Non-Convertible Debenture (NCDs) for Rs. 500 Crore plus Green Shoe option of Rs. 150 crores.

• Wipro –  Board will be condensed audited standalone and consolidated financial results of the company under IndAS for the Quarter and Year ended March 31, 2020, and recommendation of final dividend for the financial year ended March 31, 2020.

• Punjab & Sind Bank – Board will consider and approve raising of equity capital through QIP up to an amount of Rs. 750 Crore in one or more tranches within a period of 12 months and raising of equity capital by way of Preferential Issue up to an amount of Rs. 750 crore in one or more tranches.