Morning-OutlookNIFTY:

The Nifty opened at 14789.70 with a big gap down of 153 points. The index recorded its intraday low at 14771.40 within the first few minutes of trading. The index rallied more than 100 points and recorded its intraday high at 14900. However prices did not sustain there and fell down again. Another decline of almost 100 points and then a minor recovery helped the index to finally close at 14850.75 with a loss of 91.60 points. The Media sector performed better and closed higher while Financial was the main underperformed and closed lower by 1.41%.

The Nifty broke its higher closing streak and closed lower below 14900. It was a volatile day in the index where prices opened with a gap down and made an attempt to fill the gap by rallying more than 100 points and then again fell down almost 100 points. We have mentioned a large Bullish Head and Shoulder pattern in the Nifty daily time frame. Prices have found resistance near the neckline and closed lower. So now we have support at 14400 and resistance at 15000.

BANK NIFTY:

Bank Nifty opened at 32640.95 with a gap down of 551 points. The index recorded its intraday low at 32611.70 and then started moving up. The index recorded its intraday high at 33154.30 and fell down. PSU Banks continued its outperformance for the second day and closed higher while Private Banks have closed lower. Within the index, SBIN contributed highest while Kotak Bank the lowest. A big gap down in the index forced prices to close below 33000. The index made an attempt to fill the gap by rallying more than 500 points but failed to do so

A trading range is now visible with support at 32000 and resistance around 33500.

Trade AnyTime AnyWhere With Elite Empower Mobile App

Elite-Empower-App-Promotional-Banner-img1

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
VOLTAS 1010.25 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 990 and for the target 1035
CONCOR 612.50 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 595 and for the target 635

Get All Your Mutual Fund Portfolio Retuns on Your Mobile by Elite Kuber App


Elite-Kuber-Mutual-Fund-Promotional-Banner-img

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
BERGER PAINT 740 CE BUY 20.25 CMP 16 28 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
VOLTAS.21.05 May 1015.45 4.2 31.25 3984000 CUMMINSIND.21.05 May 833.55 -0.19 36.35 1264800
COALINDIA.21.05 May 156.65 5.81 25.03 45750600 LTI.21.05 May 3637.9 -1.4 23.54 630450
IOC.21.05 May 104.05 4.36 21.01 71201000 RAMCOCEM.21.05 May 944.4 -1.46 21.25 2168350
BHEL.21.05 May 73.55 11.52 20.94 118419000 CHOLAFIN.21.05 May 552.15 -0.91 16.74 6573750
CONCOR.21.05 May 616.45 5.66 18.15 7661826 GRANULES.21.05 May 360.7 -1.49 14.33 8926450
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
PNB.21.05 May 35.2 0 -3.12 275968000 FINNIFTYW.21.05 May 15683.4 -1.75 -91.09 1240
ALKEM.21.05 May 3058.95 0.34 -2.88 424400 BANKNIFTY.21.05 May 32928.75 -1.12 -12.93 1308425
INDIGO.21.05 May 1682.95 0.19 -2.83 3795500 NAM-INDIA.21.05 May 351.15 -0.16 -8.51 1307200
PIIND.21.05 May 2703.95 0.49 -2.77 359250 MINDTREE.21.05 May 2209.75 -1.26 -4 1515200
BPCL.21.05 May 462.15 1.55 -2.3 43435800 PAGEIND.21.05 May 28888.05 -1.41 -3.07 66240

Get Stock Market Recommendation By Our Research Analysts

Market-Research-Promotional-Banner-img5

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Infosys Limited 1330.65 -0.66 6420988 4685834 65.12 Nifty Energy 18917.8 1.76 97404
Britannia Ind Ltd. 3418.4 0.13 455412 448372 64.61 Nifty Media 1619.2 0.79 97404
Hdfc Life Insurance Comp 671.25 -1.29 2430724 2698710 62.14 Nifty Realty 310.95 0.29 97404
Hcl Technologies Ltd. 907.3 -0.73 3818154 2413906 59.91 Nifty Auto 9995.1 0.22 97404
Tata Consultancy Serv Lt 3122.6 -0.73 2415625 1258111 58.87 Nifty Fmcg 34129.3 -0.22 97404
Hdfc Asset Management Co 2796.1 0.05 240617 367614 58.6 Nifty Pharma 14066.65 -0.46 97404
Power Grid Corporation o 223.4 1.61 12935130 5877813 58.55 Nifty 50 14850.75 -0.61 97404
Mahindra & Mahindra Fina 155 -0.74 10588786 5696541 57.88 Nifty it 26106.7 -0.63 97404
Mphasis Limited 1848.7 0.26 338923 235807 57.72 Nifty Bank 32872.2 -0.82 97404
Hindustan Unilever Ltd 2402.1 -1.27 1019077 567033 57.36 Nifty Metal 5452.65 -0.92 97404

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:  Crude Oil Inventories on 12th May, 2021

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

Open Your Demat Account to Invest in Upcoming IPO’sDemat-and-Trading-Account-Promotion-Banner

NEWS UPDATES

•India has contracted to export 56 lakh tonne sugar so far in the ongoing 2020-21 marketing season, and is expected to conclude deals for shipment of the rest 4,00,000 tonne soon, trade body AISTA said on Tuesday. The government has fixed a mandatory export target of 60 lakh tonne surplus sugar for ongoing the 2020-21 season (October-September). This export policy was, however, approved only in January.

•Tata Motors on Tuesday said it is reviewing the order by the Competition Commission of India (CCI) to initiate investigation against its commercial vehicles business in India for alleged abuse of its dominant position. Last week, the CCI had passed an order directing the Director General, CCI, to initiate investigation against the company for alleged abuse of dominant position.

•Moody’s has upgraded its outlook for the global airlines industry to “positive” from “negative”, as the ratings agency expects steady vaccine rollouts across geographies to drive a rebound in commercial air travel.

•Investors reinforced their faith in the equity cult by investing in equity schemes of mutual funds in April 2021. Equity mutual funds saw net inflows (investments exceeding redemption) of Rs 3,437 crore in April, albeit much lower compared to Rs 9,115 crore in March 2021, according to data released by the Association of Mutual Funds in India (AMFI).

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
APOLLOTYRE Audited Results;Final Dividend 12-May-21 MAGADHSUGAR Audited Results;Dividend 11-May-21
ASIANPAINT Audited Results;Final Dividend 12-May-21 MAHEPC A.G.M.;Dividend;Quarterly Results 11-May-21
AVADHSUGAR Audited Results;Dividend 12-May-21 MATRIMONY Audited Results;Final Dividend 11-May-21
BIRLACORPN Audited Results;Dividend 12-May-21 NEULANDLAB Audited Results;Final Dividend 11-May-21
BORORENEW Audited Results;Rights Issue 12-May-21 ORIENTABRA Audited Results;Dividend;General 11-May-21
DWARKESH Quarterly Results 12-May-21 PBGLOBAL General;Preferential Issue of shares 11-May-21
HAPPSTMNDS Final Dividend;General;Results 12-May-21 PERVASIVE Audited Results 11-May-21
HGINFRA Audited Results;Final Dividend 12-May-21 SIEMENS Quarterly Results 11-May-21
JINDALSTEL Audited Results 12-May-21 SOLIDCO Audited Results 11-May-21
JSWISPL Audited Results;General 12-May-21 ULTRACAB Audited Results;Quarterly Results 11-May-21
LUPIN Audited Results;Final Dividend 12-May-21 WARDINMOBI Audited Results;Final Dividend;General 11-May-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
GILLETTE 12-May-21 Special Dividend – Rs. – 50.00 VISAKAIND 18-May-21 Final Dividend – Rs. – 10.00
NCLIND 12-May-21 Interim Dividend – Rs. – 1.50 GCCLINP 19-May-21 E.G.M.
OFSS 17-May-21 Interim Dividend – Rs. – 200.00 IRBINVIT 19-May-21 Income Distribution (InvIT)
CAPPL 18-May-21 Interim Dividend – Rs. – 1.50 POWERINDIA 19-May-21 Dividend – Rs. – 2.00
COFORGE 18-May-21 Interim Dividend – Rs. – 13.00 GREENCREST 20-May-21 Consolidation of Shares
SUNDRMFAST 18-May-21 Interim Dividend – Rs. – 3.40 IRCON 20-May-21 Bonus issue 1:1

Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, suhail@elitewealth.in
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.Company-Specific Disclosures Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in , or e-mailing research@elitestock.com with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail research@elitestock.com.Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person. Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, advisory board member or employee of any company in the analyst’s area of coverage. Country Specific Disclosures India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL Advisory discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL Advisory or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL Advisory or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL Advisory or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
2. Compensation
(a) EWL Advisory or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL Advisory or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL Advisory or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL Advisory or its associates have not received any compensation for products or services other than investment banking
or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL Advisory or its associates have not received any compensation or other benefits from the subject company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL Advisory or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL Advisory
Provided that research analyst or research entity shall not be required to make a disclosure as per sub-clauses (c), (d) and (e) of clause (ii) or sub-clauses (a) and (b) of clause (iii) to the extent such disclosure would reveal material non-public information regarding specific potential future investment banking or merchant banking or brokerage services transactions of the subject company.
(4) EWL Advisory or its proprietor has never served as an officer, director or employee of the subject company;
(5) EWL Advisory has never been engaged in market making activity for the subject company;
(6) EWL Advisory shall provide all other disclosures in research report and public appearance as specified by the Board under any other regulations.