Outlook-01-06-2021NIFTY:

The Nifty opened at 15437.75 without any gap. The index initially moved down and recorded its intraday low at 15374. Prices found support there and moved up. The index rallied more than 200 points intraday to record its high at 15606.35. The index finally closed at 15582.80 near its high. The Financial, Bank and Metal have performed well while Media and Auto sectors closed lower. We were long in the Nifty on a breakout above 15350. We suggested a stop of 15350 and target of 15500. Prices have rallied and reached the target. It was a trend day in the index where prices have rallied more than 200 points intraday and ended with a gain above 15500. The index continued recording its lifetime new highs for the second consecutive day. Support is visible around 15200. The index has seen an upside move of about 700 points in the last seven days without any correction. So it is possible that we may see a dip or a brief consolidation.

BANK NIFTY:

Bank Nifty opened at 35097.45 with a gap down of 125 points. The index moved down further and recorded its intraday low at 34930.10. Prices then moved up and recovered all losses. PSU Banks underperformed and closed with a loss while Private Banks performed better and closed with gains. Within the index, in terms of points ICICI Bank contributed highest while Federal Bank the lowest.

We had taken a long trade on the long side on a breakout above 35000 and for the target of 36000. Strong resistance is visible around 36500 and support around 34500.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
JSWSTEEL 710.90 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 700 and for the target 724
ADANIENT 1316.30 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1305 and for the target 1310

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
DABUR 540 CE BUY 14.4 CMP 10 21 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
NAM-INDIA.21.06 Jun 368 6.4 63.3 2121600 M&M.21.06 Jun 810.8 -4.79 29.37 11235000
LALPATHLAB.21.06 Jun 2972 5.24 22.17 500000 NAUKRI.21.06 Jun 4385 -2.4 12.76 1595750
FINNIFTYW.21.06 Jun 16648.1 0.7 18.75 1520 UBL.21.06 Jun 1258.25 -1.27 11.57 1208200
PETRONET.21.06 Jun 243.25 0.43 15.57 18969000 AUROPHARMA.21.06 Jun 1005.7 -1.97 10.35 9673300
LICHSGFIN.21.06 Jun 470 2.47 13.71 6934000 BANKBARODA.21.06 Jun 80.9 -4.2 7.21 227857500
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
DABUR.21.06 Jun 544.6 2.17 -6.17 10172500 L&TFH.21.06 Jun 94.1 -0.11 -2.28 50795408
MANAPPURAM.21.06 Jun 163.1 4.18 -5.71 27852000 SUNTV.21.06 Jun 545 -0.85 -1.72 14910000
CHOLAFIN.21.06 Jun 550.1 0.69 -3.74 9880000 BHARATFORG.21.06 Jun 679 -0.37 -1.23 6855000
ALKEM.21.06 Jun 2985.05 0.6 -2.61 358000 BHEL.21.06 Jun 71.5 -1.24 -1.15 86467500
EICHERMOT.21.06 Jun 2677.3 0.99 -2 2507750 COFORGE.21.06 Jun 3560.9 -0.05 -0.88 1061250

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Petronet Lng Limited 241.45 0.27 6795829 6799151 84.07 Nifty Metal 5161.8 2.1 71268
Power Grid Corporation o 225.65 0.09 7370024 5940821 69 Nifty Energy 19908.95 1.75 71268
Hindustan Unilever Ltd 2340.05 0.79 1178704 816237 67.16 Nifty Realty 336.15 1.37 71268
Hdfc Bank Ltd. 1515.85 0.82 7830527 5295971 59.67 Nifty Bank 35526.65 1.1 71268
Bandhan Bank Limited 307.4 1.29 8322239 4513619 59.08 Nifty Fmcg 35243.1 1.01 71268
Piind 2614.95 0.33 243342 133534 58.07 Nifty 50 15582.8 0.95 71268
Hcl Technologies Ltd. 945.2 0.28 4171524 2333102 56.93 Nifty Pharma 14051.75 0.84 71268
Alembic Pharmaceuticals 951.1 0.98 155211 96157 56.07 Nifty it 27115.05 -0.03 71268
Nestleind 17695.55 1.06 57023 29035 54.62 Nifty Auto 10491.85 -0.18 71268
Hdfc Ltd. 2552.85 0.45 3221015 1376529 54.02 Nifty Media 1761.45 -1.36 71268

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Nikkei Markit Manufacturing PMI (May) on 1st  June, 2021

INR: Trade Balance (May) on 1st  June, 2021

•USD : ISM Manufacturing PMI (May) on 1st June, 2021

•USD : ADP Nonfarm Employment Change (May) on 3rd June, 2021

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NEWS UPDATES

•The central government’s fiscal deficit ended a little below the revised estimates presented in the Union Budget in February, showed data released by the Controller General of Accounts on Monday. The government’s fiscal deficit settled at Rs 18.2 lakh crore or 98.5% of its revised estimate of Rs 18.49 lakh crore. In the Budget for 2021-22, the government had projected the fiscal deficit for FY21 at 9.5% in 2020-21, and said that it will target 6.8% in 2021-22.

•The S&P BSE Sensex posted its biggest May month rally in the past seven years after a sharp surge in consumer discretionary, financials and Reliance Industries (RIL) stock. And if analysts are to be believed, there is still more room for an upside, albeit amid minor corrections on the way. The optimism is despite the second wave of Covid pandemic that brought the Indian economy to a near standstill yet again in 2021. This time, however, analysts believe the impact to be less severe as compared to 2020.

•Paytm will look to raise up to $1.5 billion as part of primary share sale leading up to its initial public offering, which is planned for November, a person familiar with the developments said. According to this person, Paytm will offer shares to qualified institutional buyers and retail investors.

•India’s Dr. Reddy’s Laboratories is in talks with the government to bring Russia’s Sputnik Light COVID-19 vaccine into the country, a company spokesperson told Reuters on Monday. Dr. Reddy’s is also in talks with the Indian government and the private sector to supply the two-dose Sputnik V vaccine, which the company expects to commercially launch in the country in the middle of next month.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BALRAMCHIN Audited Results 01-Jun-21 KONNDOR Audited Results 02-Jun-21
EMAMIPAP Audited Results;Dividend 01-Jun-21 LYKALABS Audited Results 02-Jun-21
FCL Preferential Issue of shares 01-Jun-21 MOTHERSUMI Audited Results;Final Dividend 02-Jun-21
GUJGAS Audited Results;Dividend 01-Jun-21 MTARTECH A.G.M.;Audited Results;Final Dividend 02-Jun-21
ITC Audited Results;Final Dividend 01-Jun-21 MUTHOOTFIN Audited Results;General 02-Jun-21
NGLFINE Quarterly Results;Final Dividend 01-Jun-21 NRBBEARING Audited Results;Final Dividend 02-Jun-21
RADICO Audited Results;Final Dividend 01-Jun-21 OCTAWARE Results;Half Yearly Results;General 02-Jun-21
SALASAR Bonus issue;Results;Final Dividend 01-Jun-21 PANACEABIO Audited Results 02-Jun-21
SMEL Audited Results 01-Jun-21 PRERINFRA Audited Results 02-Jun-21
BIGBLOC Audited Results;Final Dividend 02-Jun-21 PVR Audited Results 02-Jun-21
BURNPUR Audited Results 02-Jun-21 RATNAMANI Audited Results;Final Dividend 02-Jun-21
DVL Audited Results;Final Dividend 02-Jun-21 SPRAYKING Audited Results 02-Jun-21
GARODCH Audited Results 02-Jun-21 SPS Bonus issue;General 02-Jun-21
JENBURPH Audited Results;Dividend 02-Jun-21 SUNSHINE General 02-Jun-21
JPOLYINVST Audited Results 02-Jun-21 WAAREE Audited Results 02-Jun-21
KANSAFB A.G.M.;General 02-Jun-21 YASHMGM Audited Results 02-Jun-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
INDIGRID 01-Jun-21 Income Distribution (InvIT) CUB 04-Jun-21 Interim Dividend – Rs. – 0.30
KANPRPLA 02-Jun-21 Special Dividend – Rs. – 1.00 MANAPPURAM 04-Jun-21 Interim Dividend – Rs. – 0.7500
TOWERINFRA 02-Jun-21 Income Distribution (InvIT) JAYBARMARU 07-Jun-21 Bonus issue 1:1
CYIENT 03-Jun-21 Final Dividend – Rs. – 17.00 NELCO 07-Jun-21 Dividend – Rs. – 1.20
RAWEDGE 03-Jun-21 Bonus issue 1:5 HUHTAMAKI 09-Jun-21 Final Dividend – Rs. – 3.00
SBIN 03-Jun-21 Dividend – Rs. – 4.00 RALLIS 09-Jun-21 Final Dividend – Rs. – 3.00

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