Morning-OutlookNIFTY:

The Nifty opened at 14823.55 with a gap down of 27 points. The index recorded its intraday high at 14824.05 within the first few minutes of trading and fell down. Prices have seen a decline of 130 points and then saw a minor recovery. That recovery fizzled out quickly and the index again fell down. Prices have recorded its intraday low at 14649.70 and finally closed at 14696.50 with a loss of 154.25 points. The Metal, Banks have led the bears and closed lower. The Auto and Media have performed better and closed with marginal gains. The Nifty has pierced 14700 during the intraday session and managed to close around it. It was a trend day on the downside. We have support around 14400 and resistance around 15000. A big trade will emerge if these levels break.

Buying opportunity will emerge if Nifty finds support around 14400-14500 if the index continued moving downside. But if the index moves up, we will get a buying opportunity above 15000. Although if the index goes below 14400 we would have an opportunity to sell.

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 on the upside. The index recorded its intraday high at 33154.20 and fell down. PSU Banks continued its outperformance for the second day and closed higher while Private Banks closed lower. Within the index, SBI 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 around 32000 and resistance at 33500.

Trade AnyTime AnyWhere With Elite Empower Mobile App

Elite-Empower-App-Promotional-Banner-img1

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
CIPLA 898.60 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 887 and for the target 920
BANKBARODA 77.40 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 74 and for the target 83

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
PIDILITE 1880 CE BUY 51.05 CMP 38 70 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
CADILAHC.21.05 May 650.2 2.79 13.24 23344200 CHOLAFIN.21.05 May 523.6 -5.5 10.62 7082500
BANKBARODA.21.05 May 77.8 4.71 11.76 124277400 NAUKRI.21.05 May 4375.45 -2.99 9.52 1271375
CUMMINSIND.21.05 May 834.7 0.1 7.94 1305000 GRANULES.21.05 May 337.45 -6.69 9.05 8910950
MCDOWELL-N.21.05 May 561.75 0.64 6.7 12933750 EXIDEIND.21.05 May 186.8 -0.37 7.53 12747600
SIEMENS.21.05 May 2014.2 2.79 6.46 1024650 BANKNIFTY.21.05 May 32520.3 -1.31 7.23 1356025
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
PNB.21.05 May 36.85 5.14 -12.86 234800000 FINNIFTYW.21.05 May 15538.65 -1 -57.14 480
CANBK.21.05 May 152.35 0.99 -11.11 59832000 BEL.21.05 May 146.7 -1.87 -20.18 32189800
MARUTI.21.05 May 6828.3 0.9 -6.45 2371000 NAM-INDIA.21.05 May 346.05 -1.54 -11.03 1110400
LTTS.21.05 May 2541.6 0.11 -5.42 513200 RECLTD.21.05 May 140.1 -1.34 -8.58 14892000
LUPIN.21.05 May 1214.95 1.06 -5.05 8859550 SRF.21.05 May 6303.25 -0.08 -6.73 521750

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
Hdfc Ltd. 2438.7 -1.03 3168128 2401207 64.4 Nifty Media 1629.8 0.65 520728401
Infosys Limited 1327 -0.27 5241898 4122605 64.21 Nifty Auto 10013.65 0.19 85014681
Hcl Technologies Ltd. 906.1 -0.13 4076940 2375253 62.21 Nifty Pharma 14065.05 -0.01 60327936
Tata Consultancy Serv Lt 3087.6 -1.12 1978558 1484826 61.47 Nifty Realty 310.35 -0.19 2147483500
Hindustan Unilever Ltd 2328.95 -3.05 2053932 621302 60.97 Nifty Fmcg 34057.4 -0.21 1261454
Hdfc Bank Ltd. 1399.5 -0.29 6887463 4339573 59.78 Nifty it 25855.45 -0.96 1166169
Larsen & Toubro Infotech 3662 1.19 307626 359573 58.68 Nifty 50 14696.5 -1.04 57721416
The Ramco Cements 934.4 -0.37 724184 538859 55.11 Nifty Energy 18717.4 -1.06 2757329
Kotak Mahindra Bank Limi 1718.85 -2.08 3181830 1608233 54.41 Nifty Bank 32452.3 -1.28 26140280
United Breweries Limited 1207 0.04 142901 276536 54.35 Nifty Metal 5290.45 -2.97 157928843

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  WPI Inflation (YoY) (Apr) on 14th  May, 2021

INR:  Trade Balance (Apr) on 14th  May, 2021

•USD:  Retail Sales (MoM) (Apr) on 14th May, 2021

•USD : Industrial Production (YoY) (Apr) on 14th May, 2021

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

NEWS UPDATES

•Retail inflation eased in April over a year ago when pandemic-related supply disruptions had pushed up food prices. Inflation as measured by the Consumer Price Index stood at 4.29% compared with 5.52% in March, according to data released by the Ministry of Statistics and Programme Implementation on Wednesday. On a monthly basis, the index rose by 0.7% as the gauge climbed to 157.9 in April from 156.8 in March.

•Lupin on Thursday reported an 18 per cent increase in its consolidated net profit at Rs 460 crore for the fourth quarter ended March 31, 2021, driven by robust sales across domestic and international markets. The Mumbai-based company had reported a net profit of Rs 390 crore in the January-March quarter of 2019-20. The company’s total income from operations however declined to Rs 3,783 crore during the fourth quarter, as compared to Rs 3,846 crore in the corresponding period of FY20.

•Jindal Steel and Power Limited (JSPL), as expected, reported a strong Q4 show, as rising steel prices continue to bode well for improved operating performance. Strong demand, coupled with completed capacity expansions, meant the company reported robust volume growth, too. Steel production at 2.07 million tonnes was up 35% year-on-year (y-o-y) and sales of 1.91 million tonnes were up 37% y-o-y.

•Vedanta Ltd owned Sterlite Copper has commenced production of medical oxygen at its facility in Tamil Nadu and the first batch of ‘medical grade oxygen’ was dispatched on Thursday, authorities said.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ABCAPITAL Audited Results 14-May-21 JSL Audited Results 14-May-21
AUTOAXLES Final Dividend;Quarterly Results 14-May-21 JUSTDIAL Audited Results;General 14-May-21
BALKRISIND Audited Results;Final Dividend 14-May-21 LODHA Audited Results;Quarterly Results 14-May-21
BCPL A.G.M.;Dividend;General; Results 14-May-21 LT Audited Results;Dividend 14-May-21
CHOLAHLDNG Audited Results;Final Dividend 14-May-21 MENONBE Audited Results 14-May-21
CIPLA Dividend;Quarterly Results 14-May-21 MINDSPACE Audited Results;Interim Dividend 14-May-21
DRREDDY Audited Results;Final Dividend 14-May-21 MONTECARLO Audited Results;Dividend 14-May-21
ESCORTS Audited Results;Final Dividend 14-May-21 PNB General 14-May-21
GREENPANEL Audited Results 14-May-21 RELINFRA Audited Results 14-May-21
HIL Audited Results;Final Dividend 14-May-21 ROSSARI Audited Results;Final Dividend 14-May-21
INDIGOPNTS Audited Results;Quarterly Results 14-May-21 SKFINDIA Audited Results;Dividend 14-May-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
OFSS 17-May-21 Interim Dividend – Rs. – 200.00 VISAKAIND 18-May-21 Final Dividend – Rs. – 10.00
CAPPL 18-May-21 Interim Dividend – Rs. – 1.50 GCCLINP 19-May-21 E.G.M.
COFORGE 18-May-21 Interim Dividend – Rs. – 13.00 IRBINVIT 19-May-21 Income Distribution (InvIT)
MEGH 18-May-21 Amalgamation POWERINDIA 19-May-21 Dividend – Rs. – 2.00
MEGH 18-May-21 Spin Off 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.