Trading Idea for 16 Apr 20 (Thursday): Important data to know before market opening

The nifty Support level is placed at 8785.50 followed by 8650. If Nifty starts going up, then the resistance level will be 9165.25 and 9385.25. While the Bank Nifty support level is placed at 18495.50 and 17965.75. If Bank Nifty starts going up, then the resistance level will be 19900 and 20675.50.

FII and DII data

Foreign Institutional Investors bought shares of Rs. 1358.66 crore while Domestic Institutional Investors sold shares of Rs. 1097.86 crore in the Indian equity market on April 15, as per data NSE data.

F&O Ban on NSE

No security is under the F&O ban for tomorrow (Apr 16).

Latest Corporate Action

• Tata Steel  – S&P Global Rating has given its outlook on the rating that has undergone revision from BB – to B+ with negative implications, maintaining an Issuer credit rating.

• Rane (Madras) Ltd  – CRISIL has downgraded Long Term Rating to CRISIL A- from CRISIL A with outlook Negative from stable & downgraded Short Term Rating to CRISIL A2+ from CRISIL A1.

• Rane Engine Value Ltd – CRISIL has downgraded Long Term Rating to CRISIL BBB from CRISIL BBB+ with outlook Negative from stable & downgraded Short Term Rating to CRISIL A3+ from CRISIL A2.

• India Cement  Ltd –  CARE has revised Long Term Bank facilities & NCDs to CARE A -, Outlook Stable from CARE A, Outlook Stable & revised Short Term Bank Facilities from CARE A2 +  from CARE A1.

Board Meetings

• Shriram Transport Finance  – Meeting of Board of Directors of the company is scheduled to be held on Apr 20 to consider raising of the fund by way of issue of redeemable non-convertible debenture/subordinated debenture on private placement.

• IFCI  –     Meeting of Board of Directors is scheduled on April, 20 to consider the preferential issue of equity share to Government of India.

• Apollo Tyres – Meeting of Board of Directors of the company is scheduled to be held on Apr 17 to consider the issue of non-convertible debenture through private placement.

• Motherson Sumi System – Meeting of Board of Directors of the company is scheduled to be held on Apr 16 to consider the issue of non-convertible debenture of 500 crores in one or more tranches.

• Wipro –  IT Firm reported a 6.3 per cent YoY fall in its consolidated profit at Rs. 2326.10 crores for the Q4 FY 20.

• TCS –      Board will announce audited standalone and consolidated financial results of the company for the Quarter and Year ended March 31, 2020, and recommendation of final dividend for the financial year ended March 31, 2020.