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 |
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