Morning-OutlookNIFTY:

The Nifty opened at 14756.25 with a gap up of 79 points. The index recorded its intraday low at 14725.25 near the opening tick and started moving upside. Prices have continued the bullish momentum for the whole day. Minor dips quickly found support and the index keeps on rising and recorded its intraday high at 14938. Banks, Financials, Metals and Auto sectors have led the bulls while FMCG and Pharma.

It was a trend day on the upside where the opening tick was near the day low and closing near the day high. The index closed above 14900 with some gains. The rally covered up losses that came from the last three days of decline. Prices are now near the neckline of the head and shoulder pattern. A breakout may take prices towards 15500 if index closes above 15000.

BANK NIFTY:

Bank Nifty opened at 32437.85 with a gap up of 274 points. The index recorded its intraday low at 32318.70 in the first five minutes of trading and then started moving up. Prices continued that momentum for the whole day and near its high with a gain of 4%. PSU and Private Banks both have performed well and closed with a gain of more than 3.5%. Within the index, HDFC Bank contributed highest while AU Bank the lowest. Bank Nifty continued recorded recording a trend day but on the upside today. Prices have moved from support of 32000 to resistance of 33500 in one day.

Trade AnyTime AnyWhere With Elite Empower Mobile App

Elite-Empower-App-Promotional-Banner-img1

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
HAVELLS 1030.55 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1015 and for the target 1055
HCLTECH 922.15 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 907 and for the target 950

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
INDUSIND 960 CE BUY 30.25 CMP 23 45 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
FINNIFTYW.21.05 May 15923.2 2.47 183.33 1360 LALPATHLAB.21.05 May 2766.5 -0.51 22.21 591500
BANKNIFTY.21.05 May 33548.85 3.16 27.71 1731750 ESCORTS.21.05 May 1142 -2.63 19.53 3325850
PIIND.21.05 May 2712.15 1.1 23.03 434000 ZEEL.21.05 May 189.15 -2.42 10.27 79215000
TRENT.21.05 May 798.75 3.57 15.98 1104900 NMDC.21.05 May 186.9 -8.31 8.52 57914800
BERGEPAINT.21.05 May 771.45 4.95 11.41 3436400 MINDTREE.21.05 May 2088.55 -3.67 7.29 1531200
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
VOLTAS.21.05 May 985.6 1.33 -33.08 2580000 MPHASIS.21.05 May 1764.35 -2.15 -17.97 302575
IRCTC.21.05 May 1768.6 1.12 -16.43 1293175 CADILAHC.21.05 May 616.3 -5.21 -16.69 19448000
CHOLAFIN.21.05 May 542.85 3.68 -16.08 5943750 CIPLA.21.05 May 885.15 -1.69 -12.53 14672450
GUJGASLTD.21.05 May 531.3 2.08 -15.49 975000 TATAPOWER.21.05 May 104 -3.08 -10.97 111030750
RECLTD.21.05 May 142.2 1.5 -13.54 12876000 ONGC.21.05 May 114.85 -0.56 -10.02 41433700

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
Tata Consultancy Serv Lt 3069.75 -0.58 2890462 1219688 61.65 Nifty Bank 33459.25 3.1 112242
Nestleind 17037.95 1.91 60703 35129 57.99 Nifty Fmcg 34807.4 2.2 112242
Hindustan Unilever Ltd 2376.25 2.03 811243 1186246 57.75 Nifty 50 14923.15 1.54 112242
Hdfc Bank Ltd. 1440.25 2.91 7560346 3933052 57.1 Nifty Energy 18847.05 0.69 112242
Infosys Limited 1329.4 0.18 5017129 2933912 55.97 Nifty Auto 10001.7 -0.12 112242
Sbi Life Insurance Compa 963.65 -0.95 2181641 1958021 55.73 Nifty it 25703.55 -0.59 112242
Piind 2700.4 0.81 381925 124438 54.2 Nifty Pharma 13858.7 -1.47 112242
Kotak Mahindra Bank Limi 1744.15 1.47 4211441 1713315 53.85 Nifty Metal 5207.75 -1.56 112242
Bajaj Auto Limited 3864.4 -0.28 427552 268416 53.7 Nifty Realty 304.65 -1.84 112242
Icici Prudential Life In 548.7 -1.31 1902960 1112227 53.27 Nifty Media 1595.85 -2.08 112242

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Deposit Growth YoY MAY on 21st  May, 2021

INR: Bank Loan Growth YoY MAY on 21st  May, 2021

•USD:  Building Permits (Apr) on 18th May, 2021

•USD : Crude Oil Inventories on 19th May, 2021

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

NEWS UPDATES

•Bharti Airtel Ltd.’s fourth-quarter profit fell missing estimates and its average revenue per user dropped despite adding regularly paying customers. Net profit of the Sunil Mittal-led telecom operator declined 11% over the preceding three months to Rs 759.2 crore, according to an exchange filing. That compares with the Rs 958.8-crore consensus estimate of analysts tracked by Bloomberg.

•TVS Motor Company on Monday said its scooter brand NTORQ 125 has crossed one lakh sales milestone in the international markets. The company currently sells the scooter, which comes with various industry first technologies like bluetooth connectivity feature, in 19 countries across South Asia, Latin America, Middle East, and ASEAN

•Drug firm Eli Lilly on Monday said it has signed a voluntary licensing agreement with Natco Pharma to further expedite the availability of baricitinib for COVID-19 patients in India. Earlier, the company had announced signing of six voluntary license agreements with Cipla, Lupin, Sun Pharmaceutical Industries, Dr Reddy’s, MSN Laboratories and Torrent Pharmaceuticals.

•India on Monday lost the ONGC Videsh Ltd-discovered Farzad-B gas field in the Persian Gulf after Iran awarded a contract for developing the giant gas field to a local company.

•The ferocious second wave of coronavirus being witnessed in India will delay earnings recovery for Indian companies, ratings agency Moody’s said on Monday.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AARTIIND Bonus issue;Final Dividend;General 18-May-21 GUJALKALI Audited Results;Dividend 18-May-21
ABBOTINDIA Audited Results;Final Dividend 18-May-21 GULPOLY Audited Results 18-May-21
BIOGEN Audited Results 18-May-21 IIFLWAM Audited Results;Quarterly Results 18-May-21
BRIGADE Audited Results;Final Dividend 18-May-21 JBMA Audited Results;Final Dividend 18-May-21
CANBK Audited Results 18-May-21 JYOTHYLAB A.G.M.;Audited Results;Dividend 18-May-21
CHALET Audited Results;General 18-May-21 MINDACORP Audited Results;Final Dividend 18-May-21
COROENGG Audited Results 18-May-21 ROUTE Audited Results;Final Dividend 18-May-21
DIAMINESQ Dividend;Final Dividend 18-May-21 TATAMOTORS Audited Results;General 18-May-21
DOLAT Audited Results 18-May-21 TATAMTRDVR Audited Results;General 18-May-21
ESTER Audited Results;Final Dividend 18-May-21 TORNTPHARM Audited Results;Final Dividend 18-May-21
GLAXO Audited Results;Dividend 18-May-21 UJJIVANSFB Audited Results 18-May-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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
VISAKAIND 18-May-21 Final Dividend – Rs. – 10.00 JOSTS 20-May-21 Stock  Split From Rs.10/- to Rs.5/-

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.