NIFTY:

The Prime Minister, Mr. Modi, spoke to the nation yesterday evening. He raised the prospect of a resurgent India. He also announced a large financial package of almost Rs. 20 lakh crores for the people. Today morning the markets cheered the package, opening significantly higher. While the morning open did not sustain; the NIFTY continued to trade well above yesterday’s price range throughout the day. Finally, the index closed at 9383, up almost 180 points. This was at least an initial suggestion that gains made today have been held.

For the last many days we have seen how gaps open have been sold into. Today that did not happen. We can not say if there is any significance to the fact that the gap held. We will know only tomorrow or in the next few days if a new up move above 9400 has started.

The NIFTY continues to be inside a trading range that has now lasted for weeks. Support for this range comes at 9150 and the upper boundary is at 9400. The NIFTY closed almost at the top boundary of this range. A decisive move out of this range is required for a new trend to begin. This could means a close above 9400 or a close below 9150.

TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
      RECLTD 100.60 BUY The stock has given the breakout with volume  on the intraday as well as on the daily chart. The stock can be bought at CMP with a stop loss of  96.30 and for the target of  106-110.
      INDIGO 1004.40 SELL The immediate trend of the stock is weak .  The stock can be sold below 998 with a stop loss of  1015  and for the target of  968.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
M&MFIN 180 CE BUY 15.50 CMP 10.30 24 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
GODREJPROP.May 28 662.05 6.33 84.48 278200 APOLLOHOSP.May 28 1283.4 -1.55 19.52 1286000
VOLTAS.May 28 466.4 0.99 43.72 4155000 BIOCON.May 28 335.25 -2.63 11.1 15810200
SBILIFE.May 28 761.45 1.95 33.83 2038500 COLPAL.May 28 1329.15 -0.99 10.57 1479100
ESCORTS.May 28 801.9 4.93 29.3 2563000 MUTHOOTFIN.May 28 817.1 -0.2 10.39 1761750
NCC.May 28 24.45 4.49 28.32 19818000 EXIDEIND.May 28 152.8 -0.03 10.15 5286700
                                                                        Short Covering                                                                              Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
UJJIVAN.May 28 176 5.42 -14.41 3111000 IDEA.May 28 4.95 0 -9.57 456484000
UBL.May 28 917 1.91 -7.28 819700 AUROPHARMA.May 28 675.85 -2.08 -2.03 10429000
BANDHANBNK.May 28 254.35 9.42 -4.59 11100000
CHOLAFIN.May 28 157.8 4.12 -4.04 8780000
RBLBANK.May 28 122.2 4.67 -4.02 20698500

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Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Unilever Ltd 1995.75 -0.79 8432991 10289550 69.14 Nifty Bank 19634.95 4.09 83520
GMR Infrastructure Limit 18.1 2.26 12739460 5918939 60.49 Nifty Realty 178.4 3.45 83520
Godrej Cons Products Ltd 534.45 3.21 1828087 1134084 56.08 Nifty Metal 1760.6 2.51 83520
CONTAINER CORP OF INDIA 380.45 5.01 1959768 682547 53.9 Nifty Auto 5844.6 2.38 83520
SBI LIFE INSURANCE COMPA 760.5 2.14 1752465 585393 52.45 Nifty 50 9383.55 2.03 83517
TECH MAHINDRA LIMITED 544.75 2.16 3296409 2952754 51.87 INDIA VIX 38.84 1.66 83520
ADANIPORTS 309.35 6.12 9560014 2356484 51.2 Nifty Media 1171.1 1.46 83520
Kotak Mahindra Bank Limi 1186.7 2.55 11914949 5211635 50.75 Nifty IT 13776.95 0.65 83520
REC LIMITED 100.6 12.47 27687572 3557428 49.15 Nifty FMCG 26746.5 -0.41 83520
Power Grid Corporation o 166.65 2.05 15286401 5487715 48.81 Nifty Pharma 9147.75 -1.07 83520

Upcoming Economic Data

   Domestic                                                                                                                                                  International
•INR:  WPI Inflation (YoY) (Apr) on 14th May, 2020

•INR:  Trade Balance on 15th May, 2020

•USA: Initial Jobless Claims  on 14th May, 2020

•USA: Retail Sales (MoM) (Apr) on 15th May, 2020

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News Updates

•In announcements made on Wednesday, the government agreed to provide full and partial guarantees on investments in debt securities issued by non-bank lenders under two different schemes. The first scheme is a Rs 30,000 crore special liquidity facility. Under this scheme, investments can be made in investment grade debt securities of NBFCs, housing finance companies and microfinance institutions.

•Kotak Mahindra Bank Ltd.’s quarterly profit fell as the private lender increased provisioning to mitigate impact of the Covid-19 pandemic. The bank’s net profit declined 10 percent year-on-year to Rs 1,266.6 crore in the quarter ended March, according to an exchange filing. But its net interest income, or core income from operations, increased 17.25 percent to Rs 3,560 crore. Net interest margin stood at 4.72 percent. The private bank’s asset quality improved in the last quarter of the financial year ended March 2020.

•Power discoms currently owe Rs 94,000 crore to power producers and transmission companies, said Finance Minister Nirmala Sitharaman as she spelt out the details of Atmanirbhar Bharat Abhiyan—India’s Rs 20 lakh crore Covid-19 economic package. To enable them to make these payments, public sector companies Power Finance Corporation Ltd. and REC Ltd. will extend loans of up to Rs 90,000 crore to the power discoms companies. These loans will be against state guarantees.

Source: Economic Times,  Moneycontrol  ,Business Today,Livemint, Business Standard, Bloomberg Quint.

BOARD MEETINGS

Company Name5 Purpose Ex-Date Company Name Purpose Ex-Date
ACCELYA Quarterly Results 14-May-20 MAHLIFE Audited Results;Final Dividend 14-May-20
ASHOKLEY General 14-May-20 MANAPPURAM Audited Results 14-May-20
BIOCON Audited Results;Quarterly Results 14-May-20 OFSS Audited Results;Final Dividend 14-May-20
CALSOFT Audited Results 14-May-20 RELTD Amalgamation 14-May-20
ESCORTS Audited Results;Final Dividend 14-May-20 SHREDIGCEM Audited Results;Dividend 14-May-20
HERITGFOOD General 14-May-20 TATACONSUM Final Dividend;Quarterly Results 14-May-20
IEX Audited Results;Quarterly Results 14-May-20 TVTODAY Audited Results;Dividend 14-May-20
MAHEPC Audited Results;Dividend 14-May-20 ZENSARTECH Audited Results;Quarterly Results 14-May-20

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
NIITTECH 14-May-20 Interim Dividend – Rs. – 11.00 AMBUJACEM 19-May-20 Interim Dividend – Rs. – 1.50
JMFINANCIL 15-May-20 Dividend – Rs. – 0.20 OFSS 19-May-20 Interim Dividend – Rs. – 180.00
SBICARD 15-May-20 Interim Dividend – Rs. – 1.00 DICIND 10-Jun-20 Final Dividend – Rs. – 4.50
VOLTAMP 18-May-20 Dividend – Rs. – 25.00 KANSAINER 12-Jun-20 Dividend – Rs. – 3.1500
ACC 19-May-20 Interim Dividend – Rs. – 14.00 AVANTEL 17-Jun-20 Final Dividend – Rs. – 2.00

DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

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