Morning-OutlookNIFTY:

The Nifty opened at 15042.60 with a gap up of just 12 points. The index first moved up for the first few minutes and recorded its intraday high at 15069.80. The index then started a down move for the whole day. The intraday low at 14884.90. The index then traded sideways in 30 minutes and finally closed at 14906.05.

All the secoral indices have closed  lower except Realty. It was a trade day on the downside. The index broke below 15000 support and closed lower. If this is a correction of the previous up move then prices should find support near the current levels.  But if not we may see a correction is 14700.

BANK NIFTY:

Bank Nifty opened at 33692.55witha gap up 33 points. The index recorded intraday high at 33833.70 in its initial trades and then started moving downwards. The decline continued throughout the day and prices finally closed at 333344. PSU Banks have performed well and closed with gains while Private Banks have unperformed. Indusind Bank continued highest while HDFC Bank the lowest.

The index is closing lower from the last two day and prices not have closed it is.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
M&M FIN 160.25 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 157 and for the target 169
CHOLAFIN 570 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 562 and for the target 587

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
CUMMINS 780 CE BUY 17.4 CMP 13 24 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
PIIND.21.05 May 2603.95 1.2 41.47 676250 BRITANNIA.21.05 May 3398 -2.73 28.97 1903800
BOSCHLTD.21.05 May 15949.85 7.53 38.66 143650 JINDALSTEL.21.05 May 403 -4.86 10.83 34595000
CHOLAFIN.21.05 May 572.9 4.98 26.02 7065000 FINNIFTYW.21.05 May 15832.95 -1.08 10.53 3360
CUMMINSIND.21.05 May 851.05 1.26 15.43 1768200 IGL.21.05 May 504.5 -2.41 9.42 5654000
M&M.21.05 May 805.5 2.28 10.16 11263700 HDFC.21.05 May 2454.95 -0.65 8.15 16309500
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
AARTIIND.21.05 May 1706.75 3.5 -14.95 931175 BANKNIFTY.21.05 May 33485.2 -0.93 -9.11 1442775
COFORGE.21.05 May 3332 1.04 -8 1792875 ADANIPORTS.21.05 May 767.2 -0.87 -4.55 68683750
RBLBANK.21.05 May 205.55 2.29 -5.35 19766400 POWERGRID.21.05 May 229.6 -1.94 -4.48 20572000
MRF.21.05 May 81574.95 1.89 -4.91 43230 APLLTD.21.05 May 964 -0.26 -3.92 1225400
NAVINFLUOR.21.05 May 3200.85 0.24 -4.87 413100 IOC.21.05 May 105.05 -2.46 -3.75 76934000

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Unilever Ltd 2344.15 -0.66 856235 838064 63.32 Nifty Realty 317 1.02 96342
Tata Consultancy Serv Lt 3060 -0.71 2329027 1244083 62.64 Nifty Auto 10226.4 -0.22 96342
Icici Prudential Life In 541.9 -0.44 1951638 1642286 60.75 Nifty Pharma 13970.2 -0.22 96342
Kotak Mahindra Bank Limi 1708.2 -1.29 2598038 1440512 60.73 Nifty Media 1651.3 -0.24 96342
Britannia Ind Ltd. 3422.55 -3.16 1046540 411973 59.84 Nifty it 25894.5 -0.34 96342
Hdfc Life Insurance Comp 667.5 0.2 4316905 1310653 58.19 Nifty Fmcg 34475.6 -0.73 96342
Icici Lombard General In 1527.85 1.52 896399 188850 56.81 Nifty Energy 19155.5 -0.79 96342
Dabur India Ltd. 535.8 -0.42 2586717 1340236 55.79 Nifty 50 14906.05 -0.83 96342
Hcl Technologies Ltd. 924.4 -0.75 4753782 2303193 55.12 Nifty Bank 33334.55 -1.04 96342
Itc Ltd. 207 -0.36 20884367 13273360 54.39 Nifty Metal 5077.35 -3.21 96342

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 : Existing Home Sales (Apr) on 21st May, 2021

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NEWS UPDATES

•India will resume buying crude oil from Iran once the US sanctions are eased, an Indian Oil Corporation (IOC) executive on Thursday said, adding Iranian crude was beneficial for Indian refineries. India stopped importing oil from Iran in mid-2019 following sanctions on the Persian Gulf nation by the Trump administration.

•The unemployment rate shot up to 14.5% in the week ended May 16, 2021, the highest in the last one year, compared to 8% in April, the Centre for Monitoring Indian Economy said. The unemployment rate had stood at over 23% in April and May 2020 during the nationwide lockdown.

•Banks are likely to transfer about 80 large NPA accounts for the resolution to National Asset Reconstruction Company Ltd (NARCL), which is expected to be operational by next month. NARCL is the name coined for the bad bank announced in the Budget 2021-22. A bad bank refers to a financial institution that takes over the bad assets of lenders and undertakes resolution.

•Bharti Airtel said that it is doubling down on its enterprise business by “re-tooling” its channels and product portfolio, adding that the telco cornered 31% enterprise market share in December 2020, an 8 percent share gain in two years. Gopal Vittal, CEO of Airtel claimed that Airtel’s enterprise business continued to gain market share not just annually but quarter on quarter.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AARTISURF Audited Results;Final Dividend 21-May-21 WOCKPHARMA General 21-May-21
ANUHPHR Audited Results;Final Dividend 21-May-21 JSWSTEEL Final Dividend;Right Issue 21-May-21
BSOFT Final Dividend;Quarterly Results 21-May-21 KOCL Audited Results 21-May-21
CCL Audited Results;Final Dividend 21-May-21 LALPATHLAB Audited Results;Final Dividend 21-May-21
CONCOR Results;Final Dividend;General 21-May-21 MEGRISOFT Audited Results;Quarterly Results 21-May-21
CROMPTON Audited Results;Final Dividend 21-May-21 METALFORGE Quarterly Results 21-May-21
DHANUKA Audited Results;Quarterly Results 21-May-21 NOVIS Preferential Issue of shares 21-May-21
DHARAMSI Dividend;Quarterly Results 21-May-21 SBIN Audited Results;Dividend 21-May-21
ESABINDIA Audited Results;Dividend 21-May-21 SHREECEM Audited Results;Final Dividend 21-May-21
GODREJIND Audited Results 21-May-21 SOUTHBANK Audited Results;Dividend 21-May-21
HINDALCO Audited Results;Final Dividend 21-May-21 TCIIND Audited Results 21-May-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
EMERALL 24-May-21 Stock  Split From Rs.10/- to Rs.5/- TRIDENT 25-May-21 Final Dividend – Rs. – 0.3600
KENNAMET 24-May-21 Interim Dividend – Rs. – 20.00 AVANTEL 27-May-21 Final Dividend – Rs. – 4.00
WELSPUNIND 24-May-21 Dividend – Rs. – 0.1500 CIGNITI 27-May-21 Final Dividend – Rs. – 2.50
WELSPUNIND 24-May-21 Buy Back of Shares INDINFR 27-May-21 Income Distribution (InvIT)
SPECMKT 25-May-21 E.G.M. IBULHSGFIN 28-May-21 Interim Dividend – Rs. – 9.00
TCS 25-May-21 Final Dividend – Rs. – 15.00 JMFINANCIL 28-May-21 Dividend – Rs. – 0.50

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