Morning-Outlook-Feature-Image

NIFTY:

The NIFTY opened at 18594.20 with a gap down of 39 points. The index recorded its intraday high at 18603.90 in its initial trade and just above the opening tick. Prices continued early morning weak momentum and moved down sharply. The index went below 18500 and found support there. Prices have recorded its intraday low at 18483.65.The index formed a trading range that broke upside and has seen some recovery in the late hour of trading. The NIFTY finally closed at 18534.40 with a loss of 99.45 points or 0.53% down. REALTY and PHARMA outperformed today by gaining over half percent followed by MEDIA and FMCG. OIL GAS underperformed today and ended lower by over 1% followed by FINANCIAL, METAL, and BANK. The long-term trend is sideways now while the long-term momentum is moving within the strength zone but the direction is down.

BANK NIFTY:

The BANK NIFTY opened at 44318 with a gap down of 139 points. The index recorded its intraday high at 44339.05 just above the opening tick and then continued moving lower. Prices have found intraday support around 43800 and started consolidating there. The index broke on the upside after recording its intraday low at 43822.70 and saw a sharp recovery to finally close at 44147.80 with a loss of 310 points. PSU and PVT BANK both indices have performed almost the same today, saw a mild downside move, and finally closed with a loss of 0.24% &0.50% respectively. Within the index, in terms of points, KOTAK BANK contributed the highest on the upside while HDFC BANK contributed the lowest. It was a tale of two halves today in the BANK Index. After opening with a gap down, the index moved lower in the first half while saw a sharp rally in the second half. The short-term trend is up. Support is now visible around 43400 while resistance is visible around 44500.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE
BSOFT 343.50 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 345.05 with a stop loss of 341.35 and a target of 352.45.
HINDALCO 975.35 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 404.20 with a stop loss of 409.65 and a target of 398.20.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
SUN PHARMA   980 CE BUY 21.05 ABOVE 23.50 19 32.30 BREAKOUT
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
TORNTPHARM.23.06 Jun 1814.5 6.38 58.98 2036500 ONGC.23.06 Jun 155.5 -2.51 5.94 48925800
DIXON.23.06 Jun 3881.6 4.63 6.87 1157125 COALINDIA.23.06 Jun 240.4 -2.32 2.33 37959600
PIIND.23.06 Jun 3623.95 3.58 2.01 1836000 VEDL.23.06 Jun 271.65 -2.04 9.32 52308000
ESCORTS.23.06 Jun 2183.65 3.06 4.33 1160775 AXISBANK.23.06 Jun 922.3 -1.89 2.62 48489600
BHARTIARTL.23.06 Jun 845 2.94 15.67 41234750 NTPC.23.06 Jun 174.6 -1.83 0.49 70509000
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
INTELLECT.23.06 Jun 588.5 2.57 -0.93 3100000 LICHSGFIN.23.06 Jun 374.5 -1.8 -1.47 14790000
BALKRISIND.23.06 Jun 2288.35 2.3 -12.56 1808100 SHRIRAMFIN.23.06 Jun 1390.35 -1.23 -3.46 3987600
IPCALAB.23.06 Jun 706.8 2.28 -3.95 3274700 ABFRL.23.06 Jun 202.5 -1.22 -1.28 27388400
CANFINHOME.23.06 Jun 710.05 2.08 -6.96 3521700 SHREECEM.23.06 Jun 25319.6 -1.18 -14.09 269700
MCDOWELL-N.23.06 Jun 887.1 1.86 -1.07 10301250 JUBLFOOD.23.06 Jun 484.05 -0.88 -2.62 14640000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Torrent Pharma Ltd. 1835.8 7.13 4659481 237517 66.71 Nifty50 18534.4 -0.53 73183982
Dixon Technologies (indi 3878.75 5.33 1643397 74629 22.42 Niftybank 44128.15 -0.69 30722088
Piind 3616.8 4.17 2061711 141590 53.63 Nifty it 29319.75 0.08 2415082
Bharti Airtel Limited 849.9 3.84 47342125 3572341 69.39 India Vix 11.97 -0.33 1122444872
Coforge Limited 4555.1 3.52 706949 164533 60.78 Nifty Fmcg 51042.75 0.23 959633
Escorts Kubota Limited 2176.3 3.4 535402 29787 20.42 Nifty Pharma 12678.4 0.58 107154988
Intellect 586 2.92 872996 98540 30.71 Nifty Realty 478.8 0.76 2147483500
Can Fin Homes Ltd 707.2 2.45 1383366 113675 33.21 Nifty Auto 14199 0.15 95663195
Abb Limited 4125.9 2.39 1169176 85726 47.81 Nifty Metal 5890.05 -0.78 230230180
Balkrishna Ind. Ltd 2273.8 2.17 781049 603401 58.57 Nifty Financial Services 19445.75 -0.82 19201987

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Nikkei Services PMI (May) on 1st June, 2023

INR: Deposit Growth on 2nd June, 2023

 USD: ADP Nonfarm Employment Change (May) on 1st June, 2023

USD: ISM Manufacturing PMI (May) on 1st June, 2023

NEWS UPDATES

  • Benchmark indices ended lower on May 31 with Nifty around 18,550. At close, the Sensex was down 346.89 points or 0.55% at 62,622.24, and the Nifty was down 99.40 points or 0.53% at 18,534.40. About 1679 shares advanced, 1733 shares declined, and 133 shares unchanged.

  • Analysts see 42% upside in Adani Ports but stock falls post Q4 results, CLSA has maintained its ‘buy’ rating on the Adani Group company and hiked its target price to Rs 878 from 792. Meanwhile, Nomura has also retained its ‘buy’ call on the stock with a target price of Rs 1,025..

  • Welspun Corp shares up 5% despite muted profit in Q4; board recommends 100% dividend, The share touched a 52-week high of Rs 298.35 and a 52-week low of Rs 177.85 on September 22, 2022 and February 27, 2023, respectively.

  • Suzlon Energy shares jump 9% after on the back of strong Q4 numbers, The wind energy solutions provider posted a consolidated net profit of Rs 320 crore for the quarter ended March quarter on the back of lower expenses.

Source: Economic Times,  Indian Express, Business Today, Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Meeting Date Company Name Purpose Meeting Date
ABCAPITAL Preferential Issue of shares 01-Jun-23 GENPHARMA General 05-Jun-23
ESTER Final Dividend 01-Jun-23 SBICARD General 05-Jun-23
HOCL General 01-Jun-23 ALFATRAN General 06-Jun-23
SKYGOLD Final Dividend 01-Jun-23 GARNETINT General;Rights Issue 06-Jun-23
WEWIN General 01-Jun-23 JINDCOT Audited Results 06-Jun-23
ANMOL Bonus issue;General 02-Jun-23 MACH Audited Results;General 06-Jun-23
BANKBARODA General 02-Jun-23 NEWINFRA Audited Results 06-Jun-23
COSPOWER Audited Results;General 02-Jun-23 SBLI Audited Results;General 06-Jun-23
INTECH Rights Issue 02-Jun-23 UNISTRMU General;Quarterly Results 06-Jun-23
KICL Audited Results 02-Jun-23 VIPUL Audited Results;Dividend 06-Jun-23
MINDACORP Right Issue of Equity Shares;General;Preferential Issue of shares;Rights Issue 02-Jun-23 GENCON Audited Results;Dividend 07-Jun-23
OONE Audited Results 02-Jun-23 LASA Audited Results;Quarterly Results 07-Jun-23
SETCO Audited Results;General;Quarterly Results 02-Jun-23 NATURO Audited Results 07-Jun-23
SPANDANA General 02-Jun-23 ORISSAMINE Audited Results 08-Jun-23
YOGI Increase in Authorised Capital;Preferential Issue of shares 02-Jun-23 SANINFRA Final Dividend;General 08-Jun-23
AVG Audited Results;Final Dividend;Issue Of Warrants 03-Jun-23 VAPIPPR Audited Results 09-Jun-23
GAL Audited Results;General 03-Jun-23 WANBURY Audited Results 09-Jun-23
GOYALASS Audited Results;General 03-Jun-23 ZGOLDINV Audited Results;General 09-Jun-23
MANAKSIA Final Dividend 03-Jun-23 MENAMANI General;Stock  Split 12-Jun-23
NMSRESRC Audited Results;General;Quarterly Results 03-Jun-23 DPL Audited Results;Quarterly Results 15-Jun-23
OTCO General 03-Jun-23 INDSUCR Audited Results 15-Jun-23
SHIVALIK Preferential Issue of shares 03-Jun-23 RASSIREF Audited Results 15-Jun-23
ACFL Audited Results 05-Jun-23 DLCL Audited Results 16-Jun-23
DHANCOT General 05-Jun-23 DRONACHRYA General 10-Aug-23

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
APTECHT 01-Jun-23 Interim Dividend – Rs. – 6.0000 MARKSANS 07-Jun-23 Final Dividend
SHREECEM 01-Jun-23 Interim Dividend – Rs. – 55.0000 OPTIEMUS 07-Jun-23 Interim Dividend – Rs. – 1.5000
SIL 01-Jun-23 Interim Dividend – Rs. – 0.8000 SESHAPAPER 07-Jun-23 Dividend – Rs. – 6.0000
TRIDENT 01-Jun-23 Interim Dividend – Rs. – 0.3600 TATAPOWER 07-Jun-23 Final Dividend – Rs. – 2.0000
ANZEN 02-Jun-23 Income Distribution (InvIT) UNIPARTS 07-Jun-23 Interim Dividend – Rs. – 6.0000
AXITA 02-Jun-23 Buy Back of Shares BIKAJI 08-Jun-23 Final Dividend – Rs. – 0.7500
EDELWEISS 02-Jun-23 Spin Off NIITLTD 08-Jun-23 Spin Off
HAVELLS 02-Jun-23 Final Dividend – Rs. – 4.5000 PONNIERODE 08-Jun-23 Final Dividend – Rs. – 6.5000
INDUSINDBK 02-Jun-23 Final Dividend – Rs. – 14.0000 QGO 08-Jun-23 Interim Dividend – Rs. – 0.1000
INFY 02-Jun-23 Final Dividend – Rs. – 17.5000 RCL 08-Jun-23 Stock  Split From Rs.10/- to Rs.1/-
JSWENERGY 02-Jun-23 Final Dividend – Rs. – 2.0000 ASIANPAINT 09-Jun-23 Final Dividend – Rs. – 21.2500
MAHINDCIE 02-Jun-23 Final Dividend – Rs. – 2.5000 BEPL 09-Jun-23 Final Dividend – Rs. – 1.0000
NECCLTD 02-Jun-23 Right Issue of Equity Shares BEPL 09-Jun-23 Special Dividend – Rs. – 14.0000
PAGEIND 02-Jun-23 Interim Dividend CAPPL 09-Jun-23 Interim Dividend – Rs. – 2.0000
STEELCAS 02-Jun-23 Special Dividend – Rs. – 3.1500 CIGNITI 09-Jun-23 Final Dividend – Rs. – 3.0000
SYLPH 02-Jun-23 Stock  Split From Rs.10/- to Rs.1/- DYNAMATECH 09-Jun-23 Final Dividend – Rs. – 7.0000
HARDWYN 05-Jun-23 Bonus issue 1:3 ELECON 09-Jun-23 Final Dividend – Rs. – 2.0000
HARDWYN 05-Jun-23 Stock  Split From Rs.10/- to Rs.1/- ELPROINTL 09-Jun-23 Interim Dividend – Rs. – 0.2300
SHYAMMETL 05-Jun-23 Interim Dividend – Rs. – 1.8000 HDFCAMC 09-Jun-23 Dividend – Rs. – 48.0000
SKMEGGPROD 05-Jun-23 Interim Dividend – Rs. – 2.0000 HSCL 09-Jun-23 Final Dividend – Rs. – 0.2500
NELCO 06-Jun-23 Dividend – Rs. – 2.0000 INDHOTEL 09-Jun-23 Final Dividend – Rs. – 1.0000
PRIMESECU 06-Jun-23 Dividend – Rs. – 0.5000 MILEFUR 09-Jun-23 E.G.M.

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