Morning-OutlookNIFTY:

The Nifty opened at 14928.25 with a gap up of 105 points. The index first moved down, recorded its intraday low at 14892.50 and then started moving higher. The rally did not last long and prices have recorded its intraday high at 14966.90 and then again fell. The index finally closed at 14942.35 with a gain of 119 points. All the sectoral indices have closed in the green for the second consecutive day. Metals continued its outperformance while Pharma and Auto have also closed higher.

We have taken a long trade in the Nifty around 14855. We have suggested a stop at 14750 and a target at 15050. Prices neither touched the stop nor target. Hold the trade on for the target of 15050 and trail your stop to 14850. For the fourth consecutive day, the Nifty opened with a gap up and closed higher. WE have mentioned a large bullish Head and Shoulder pattern in the Nifty daily chart. Rally brought prices very near to the neckline which is at 14980. A close above this level may confirm this pattern.

BANK NIFTY:

Bank Nifty opened at 33175.30 with a gap up of 287 points. The index first moved down and recorded its intraday low at 33028.15. Prices saw a mild intraday rally and recorded its intraday high at 33297.60. PSU Banks have performed better compared to Private Banks and closed higher by 1.50%. Private Banks also closed with gains. Within the index, ICICI Bank contributed highest while IDFC First the lowest.

We were long in the index around 33100 we had suggested a stop at 3270 and a target of 34000. Prices have nether touched either of these levels. Modify stop to 32900 and target at 34000.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
LT 1395 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1380 and for the target 1430.
UPL 674.60 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 660 and for the target 695.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
INDUSIND 960 CE BUY 34.35 CMP 28 45 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
FINNIFTYW.21.05 May 15949.85 0.63 218.18 1400 PNB.21.05 May 35.2 -2.36 36.1 307104000
ALKEM.21.05 May 3060 4.63 57.54 449000 CHOLAFIN.21.05 May 558.9 -1.6 31.03 6603750
TORNTPOWER.21.05 May 455.9 9.09 53.52 2650500 LTI.21.05 May 3699 -2.41 24.21 563250
VOLTAS.21.05 May 978 0.38 18.34 3135500 COFORGE.21.05 May 3222.75 -4.48 20.88 1024875
BEL.21.05 May 146.1 5.49 15.63 37946800 CUMMINSIND.21.05 May 833 -1.09 17.8 1116000
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
BHEL.21.05 May 66.6 14.43 -9.46 106417500 BANDHANBNK.21.05 May 295.5 -0.89 -8.11 23243400
NATIONALUM.21.05 May 82.1 7.46 -8.8 92905000 IDEA.21.05 May 8.3 -0.6 -1.2 611660000
CIPLA.21.05 May 903.3 1.77 -3.4 17002050 TRENT.21.05 May 751.55 -0.58 -0.21 1020075
TATACONSUM.21.05 May 637.35 0.93 -1.89 7504650 HEROMOTOCO.21.05 May 2857.65 -0.49 -0.2 3812100
MRF.21.05 May 78820.2 1.35 -1.81 46120

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Power Grid Corporation o 219.85 2.47 10038140 4500895 63.96 Nifty Metal 5503.35 3.14 97392
Hdfc Asset Management Co 2794.6 2.79 627361 244565 58.13 Nifty Pharma 14131.85 2.8 97392
Hcl Technologies Ltd. 913.95 -0.27 4029147 2114655 57.91 Nifty Media 1606.55 2.52 97392
United Breweries Limited 1207.6 -0.65 310657 147175 55.67 Nifty Energy 18590.05 1.61 97392
Infosys Limited 1339.55 -0.96 7195348 2716830 54.43 Nifty Auto 9973.05 1.56 97392
Larsen & Toubro Limited 1395 3.9 3929224 1274960 53.97 Nifty 50 14942.35 0.8 97392
Info Edge (india) Limite 4619 -1.25 315650 245222 53.91 Nifty Realty 310.05 0.78 97392
Petronet Lng Limited 241.2 -0.7 1775899 838548 53.62 Nifty Bank 33142.4 0.72 97392
Tech Mahindra Limited 990.5 0.97 2036101 1058069 52.83 Nifty Fmcg 34204.25 0.24 97392
Icici Lombard General In 1497.4 3.27 673766 127794 52.36 Nifty it 26273.45 0.02 97392

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

•HDFC Ltd. has entered into a share purchase agreement for sale of 44,12,000 equity shares, representing 0.62% of the issued and paid-up share capital of HDFC ERGO. The stake sale is being done in accordance with the direction of the Reserve Bank of India requiring HDFC to reduce its shareholding in HDFC ERGO to 50% or below.

•Dabur India Ltd on Monday announced the launch of a pain relief spray under the existing Dabur Rheumatil pain relieving brand that is used for joint aches.The product has already been launched across e-commerce platforms and through regular retail channels. The Dabur Rheumatil Spray is priced at Rs130 for 40g/ 57 ml pack, the company said. Dabur Rheumatil is already present in the market in an oil, gel and a tablet format.

•Mukesh Ambani’s Reliance Industries Ltd and its affiliates have picked up more than three-fourths of the new gas volumes from the firm’s eastern offshore KG-D6 block which at current government dictated price will cost it less than half of the imported rate, sources said. Reliance and its partner UK’s BP Plc last week auctioned 5.5 million standard cubic meters per day of incremental gas from the newer discoveries in the KG-D6 block, benchmarking it to a gas marker.

•Greaves Cotton expects its non-automotive engine business to witness continued growth on the back of demand from sectors such as infrastructure, defence, construction, farm and machinery, among others.The company’s non-automotive engine business grew 54 per cent to 13,673 units in the March quarter of the previous fiscal, as compared to 8,756 units in Q4FY20.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ALEMBICLTD Audited Results;Final Dividend 11-May-21 MAGADHSUGAR Audited Results;Dividend 11-May-21
ANDHRAPAP Audited Results;Final Dividend 11-May-21 MAHEPC A.G.M.;Dividend;Quarterly Results 11-May-21
BASF Audited Results;Dividend 11-May-21 MATRIMONY Audited Results;Final Dividend 11-May-21
BLISSGVS Audited Results;Final Dividend 11-May-21 NEULANDLAB Audited Results;Final Dividend 11-May-21
CGPOWER Preferential Issue of shares 11-May-21 ORIENTABRA Audited Results;Dividend;General 11-May-21
GODREJCP Audited Results;Quarterly Results 11-May-21 PBGLOBAL General;Preferential Issue of shares 11-May-21
GRANULES Audited Results;Final Dividend 11-May-21 PERVASIVE Audited Results 11-May-21
HUHTAMAKI Quarterly Results 11-May-21 SIEMENS Quarterly Results 11-May-21
KALPATPOWR Audited Results;Final Dividend 11-May-21 SOLIDCO Audited Results 11-May-21
KEC Audited Results;Final Dividend 11-May-21 ULTRACAB Audited Results;Quarterly Results 11-May-21
LINDEINDIA Quarterly Results 11-May-21 WARDINMOBI Audited Results;Final Dividend;General 11-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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