Morning-OutlookNIFTY:

The Nifty opened at 14816.85 with a gap up of 92 points. The index first moved up and recorded its intraday high at 14863.05. Prices then started drifting downwards. The index has fallen almost 100 points from its intraday high and recorded its intraday low at 14765.50. Prices again saw a mild rally of almost 80 points from the low and finally closed at 14823.15. All the sectoral indices have closed in green with minor gains led by Metal which ended with a gain of more than 5%. We had suggested a trade in the direction of the breakout. The trade was to buy above 14780 or sell below 14600. The index opened above 14780 and recorded a high of around 14855 so we went long there. We have suggested a stop of 100 points and a target of 180 points. Neither the stop or target have hit. So stay long with a stop at 14750 and a target at 15050.

The Nifty opened with a gap up but prices have seen a sharp intraday fall and almost filled the gap. However, another sharp surge in the second half helped the index to end above 14800.

BANK NIFTY:

Bank Nifty opened at 33041.65 with a gap up of 166 points. The index first moved up and recorded its intraday high at 33259.15. Prices then saw a sharp fall and recorded its intraday low at 32771.35. The index then traded sideways in the second half. PSU Banks continued its underperformance and closed lower while Private Banks outperform and closed higher. Within the index, HDFC Bank contributed highest while Kotak Bank the lowest.

We had suggested a trade in the direction of the breakout. The trade was to buy above 33100 while see below 32300. The index opens below 33100 and crossed this level intraday so our long trade was executed there. Stay long with a stop at 32700 and a target of 34000.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
HDFC 2496.75 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 2470 and for the target 2540.
GLENMARK 591.50 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 580 and for the target 610.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
MANAPPURAM 155 CE BUY 5.55 CMP 4 8.5 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
SBILIFE.21.05 May 1003.35 3.2 38.06 9536250 SRF.21.05 May 6295.95 -8.41 26.43 678000
NATIONALUM.21.05 May 75.65 9.56 20.93 103615000 RAMCOCEM.21.05 May 968.3 -1.5 14.05 1773100
ALKEM.21.05 May 2917.25 1.36 10 288200 HDFCAMC.21.05 May 2737.05 -0.44 13.25 783000
GLENMARK.21.05 May 596.1 4.03 9.67 9237950 TATACONSUM.21.05 May 632 -3.28 11.54 8182350
MANAPPURAM.21.05 May 152.7 1.73 8.71 24192000 AUBANK.21.05 May 928 -3.5 10.41 3366500
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
FINNIFTYW.21.05 May 15788 0.93 -98.63 560 BHEL.21.05 May 58.05 -0.43 -8.81 118755000
NAM-INDIA.21.05 May 351.65 1.27 -5.21 1456000 BHARATFORG.21.05 May 637 -1.26 -2.53 6238500
ESCORTS.21.05 May 1162.7 2.05 -4.77 3262600 MPHASIS.21.05 May 1848 -0.55 -2.24 425425
BRITANNIA.21.05 May 3471.05 0.21 -4.22 1724000 LUPIN.21.05 May 1201.6 -0.22 -2.13 8952200
RBLBANK.21.05 May 185.7 0.19 -3.48 25969500 AMBUJACEM.21.05 May 313.7 -0.33 -1.95 16596000

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Unilever Ltd 2411.2 0.89 1169518 859797 62.41 Nifty Metal 5335.85 4.73 101475
Nestleind 16761.35 0.26 37666 42315 60.18 Nifty Media 1567 0.9 101475
Power Grid Corporation o 214.55 -0.39 7036647 5960554 56.29 Nifty Realty 307.65 0.75 101475
Torrent Power Limited 416.05 0.86 819608 581379 54.65 Nifty 50 14823.15 0.67 101475
Hdfc Asset Management Co 2718.65 -0.49 420702 150673 54.45 Nifty Energy 18295.6 0.65 101475
Mah & Mah Ltd. 767.4 2.68 4833670 1971586 53.83 Nifty Bank 32904.5 0.23 101475
Tech Mahindra Limited 980.95 0.31 2002597 2445659 52.93 Nifty Fmcg 34123.5 0.22 101475
Larsen & Toubro Infotech 3768.6 -1.15 269501 273024 52.77 Nifty Auto 9819.45 0.04 101475
Alembic Pharmaceuticals 941.7 0.05 513513 358661 52.14 Nifty it 26269.45 0.04 101475
Asian Paints Limited 2551.65 0.1 1416102 791365 52.13 Nifty Pharma 13747.1 0 101475

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  Industrial Production YoY MAR on 12th  May, 2021

INR:  CPI Inflation Rate YoY APR on 12th  May, 2021

•USD:  EIA Short-Term Energy Outlook (US) on 11th May, 2021

•USD : CPI Inflation (US) on 12th May, 2021

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NEWS UPDATES

•UltraTech Cement Ltd.’s fourth-quarter profit rose surpassing estimates, aided by lower costs. The cement maker’s net profit rose 12% quarter-on-quarter to Rs 1,775 crore in the three months ended March, it said in an exchange filing. That compares with the Rs 1,645-crore consensus estimate of analysts tracked by Bloomberg. Revenue rose 17.5% over the preceding quarter to Rs 14,406 crore. Analysts polled by Bloomberg had projected Rs 13,460 crore.

•Avenue Supermarts Ltd.’s profit beat estimates in the quarter ended March as economic activity picked up. Net profit of the operator of the DMart chain of hypermarkets fell 8% quarter-on-quarter to Rs 434.9 crore, according to its exchange filing. That compares with the Rs 371.6-crore average estimate of analysts tracked by Bloomberg. Revenue fell 2% sequentially to Rs 7,303.1 crore compared with the Rs 7,238-crore estimate.

•Cadila Healthcare Ltd. plans to submit trial data for its Covid-19 vaccine by end of May and is looking for an approval in June, Financial Express reported citing Sharvil Patel, managing director of Cadila.

•Bandhan Bank Ltd.’s quarterly profit fell as provisions rose against an elevated level of bad loans. Net profit fell 80% year-on-year to Rs 103 crore in the January – March quarter, it said in an exchange filing. Analysts polled by Bloomberg had estimated a net profit of Rs 947 crore. Net interest income, or core income, rose 4.6% to Rs 1,757 cr. The bank’s gross non-performing asset ratio fell to 6% in the quarter ended March, from 7.1% on a pro forma basis as on Dec. 31. Its net NPA rose to 3.5% from 2.4% in the previous quarter.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
APLAB General;Right Issue of Equity Shares 10-May-21 INTELLECT Audited Results 10-May-21
ARTEMISMED Audited Results 10-May-21 JMCPROJECT General;Final Dividend;Audited Results 10-May-21
CHAMBLFERT Final Dividend;Audited Results 10-May-21 LESHAIND General 10-May-21
DENORA General;Dividend;Audited Results 10-May-21 NUTRICIRCLE General;Audited Results 10-May-21
EMERALL General;Stock  Split 10-May-21 OAL Audited Results 10-May-21
ESCORTSFIN Quarterly Results;Audited Results 10-May-21 OIVL Audited Results 10-May-21
GODAVARI General 10-May-21 PAUSHAKLTD Final Dividend;Audited Results 10-May-21
GYTRIPA Quarterly Results;Audited Results 10-May-21 PPAP General;Final Dividend;Audited Results 10-May-21
HFCL Final Dividend;Audited Results 10-May-21 VENKYS Final Dividend;Audited Results 10-May-21
HINDAPL Voluntary Delisting of Shares 10-May-21 VINYLINDIA Dividend;Audited Results 10-May-21
HSIL Dividend;Audited Results 10-May-21 ZYDUSWELL Final Dividend;Audited Results 10-May-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ALKYLAMINE 11-May-21 Stock  Split From Rs.5/- to Rs.2/- NCLIND 12-May-21 Interim Dividend – Rs. – 1.50
LAURUSLABS 11-May-21 Interim Dividend – Rs. – 0.80 OFSS 17-May-21 Interim Dividend – Rs. – 200.00
MAYUKH 11-May-21 Stock  Split From Rs.10/- to Rs.5/- CAPPL 18-May-21 Interim Dividend – Rs. – 1.50
PGHH 11-May-21 Special Dividend – Rs. – 150.00 COFORGE 18-May-21 Interim Dividend – Rs. – 13.00
QUESS 11-May-21 Interim Dividend – Rs. – 7.00 SUNDRMFAST 18-May-21 Interim Dividend – Rs. – 3.40
GILLETTE 12-May-21 Special Dividend – Rs. – 50.00 VISAKAIND 18-May-21 Final Dividend – Rs. – 10.00

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