NIFTY:
The market did nothing today, which is surprising considering that today was a Thursday when the weekly options expire. The NIFTY opened almost at yesterday’s close, and then moved in a very narrow range throughout the day. Intraday movement were magnified only because the range was narrow. At the end of the day the index closed with very minor gains at 9100. The important message for today’s market action was the narrowing of the daily range.
9150 as resistance
Readers will recall a trading range that had developed in the NIFTY over many days. The support for this range was 9150 and when the support was broken we triggered a short trade which had reached its target of 8900. what was support become resistance. This is a simple rule of charting.
9150 is now acting as resistance. If the NIFTY were to cross 9150 a buy is triggered with a stop under 9050.
Wait for the morning range. Tomorrow is the beginning of a new weekly option settlement; therefore early morning price movement are random and confusing.
Traders who wish to take the long trade must wait till the NIFTY is decisively above 9150 after the early morning movement. Shorting is also possible if the NIFTY go below 9050.The stop would be hundred points.
TECHNICAL PICKS
| COMPANY . | CMP | B/S | RATIONALE |
| EXIDEIND | 155.05 | BUY | The intermediate and short-term trends are up in EXIDEIND. Prices are trading range bound and at the verge of breakout We may seen an upside move here. Should buy above 156 with a stop loss of 153 and a target of 162. |
| BAJFINANCE | 1990.20 | SELL | The immediate trend of the stock is weak . Prices are now trading near its support around 1980. we may see a breakdown here. Should look for a selling opportunity below 1975 with a stop just above 2050 and a target around 1840. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| JINDALSTEL | 95 CE | BUY | 4.60 | CMP | 3 | 8 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| ITC.May 28 | 188.75 | 7.46 | 37.72 | 49471200 | COLPAL.May 28 | 1330 | -1.75 | 38.16 | 1931300 | |
| BALKRISIND.May 28 | 972.45 | 0.87 | 21.34 | 896000 | BANKNIFTY.May 28 | 17630 | -1.16 | 16.32 | 1476560 | |
| HINDALCO.May 28 | 127.85 | 5.62 | 17.33 | 32081000 | KOTAKBANK.May 28 | 1147.8 | -1.39 | 11.6 | 8568400 | |
| NIFTYIT.May 28 | 13535 | 1.12 | 16 | 1450 | HDFC.May 28 | 1586 | -2.29 | 11.52 | 27249000 | |
| TORNTPHARM.May 28 | 2606.05 | 1.74 | 15.76 | 918000 | IDFCFIRSTB.May 28 | 18.65 | -2.36 | 11.16 | 1.3E+08 | |
| Short Covering | Long unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| IDEA.May 28 | 5.65 | 0 | -14.49 | 3.24E+08 | JUSTDIAL.May 28 | 349.75 | -0.88 | -4.23 | 1552600 | |
| GODREJPROP.May 28 | 601.55 | 0.54 | -9.52 | 247000 | YESBANK.May 28 | 26.9 | -1.47 | -3.86 | 22580800 | |
| NIITTECH.May 28 | 1443 | 1.99 | -4.9 | 392625 | RAMCOCEM.May 28 | 560 | -0.44 | -3.61 | 512000 | |
| ACC.May 28 | 1179.2 | 0.9 | -4.04 | 1500400 | BATAINDIA.May 28 | 1300.05 | -1.7 | -3.11 | 1371150 | |
| TVSMOTOR.May 28 | 314.6 | 2.09 | -3.77 | 4101300 | TITAN.May 28 | 845.15 | -0.54 | -1.64 | 7168500 | |
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Top Delivery Percentage
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| ICICI PRUDENTIAL LIFE IN | 362.25 | -0.49 | 4500253 | 2116099 | 64.96 | Nifty Auto | 5749.9 | 2.61 | 86328 | |
| Power Grid Corporation o | 158.9 | 0.28 | 9661559 | 8476603 | 61.07 | Nifty FMCG | 27887.1 | 2.19 | 86328 | |
| Petronet LNG Limited | 234.75 | 3.14 | 2046175 | 805610 | 53.76 | Nifty Metal | 1742.9 | 1.83 | 86328 | |
| Hindustan Unilever Ltd | 1970.9 | -1 | 4261738 | 1979287 | 50.4 | Nifty Media | 1127.15 | 1.76 | 86328 | |
| TATA CONSULTANCY SERV LT | 1991.2 | 1.92 | 3400925 | 1398276 | 50.32 | Nifty IT | 13647.9 | 0.97 | 86328 | |
| TATA CONSUMER PRODUCTS | 360.3 | -0.12 | 3883273 | 1703889 | 48.83 | Nifty Pharma | 9520.55 | 0.67 | 86328 | |
| HDFC LIFE INSURANCE COMP | 493.8 | 3.04 | 4216424 | 1465756 | 47.09 | Nifty 50 | 9106.25 | 0.44 | 86328 | |
| Exide Industries Ltd | 155.05 | 3.78 | 2545304 | 1310582 | 46.1 | Nifty Realty | 165.5 | -0.15 | 86331 | |
| COALINDIA | 124.5 | 1.01 | 6187533 | 3704760 | 45.81 | Nifty Bank | 17735.1 | -0.59 | 86328 | |
| YES BANK LIMITED | 26.9 | -0.92 | 12109506 | 4536974 | 45.68 | INDIA VIX | 32.98 | -7.89 | 86328 | |
Upcoming Economic Data
| Domestic International | |
| •INR: Bank Loan Growth on 22nd May, 2020
•INR: Deposit Growth on 22nd May, 2020 |
•USA: New Home Sales (Apr)on 26th May, 2020 |
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News Updates
| •Hindustan Zinc, a subsidiary of Vedanta Resources, on Thursday reported a 14 per cent decline in its net profit at Rs 6,805 crore for the full financial year ended March 31, 2020, impacted by decline in operating margin and higher depreciation and amortization expense. The revenue of the company dropped by 10.5 per cent to Rs 20,495 crore as compared to Rs 22,900 crore in FY19, due to decline in London Metal Exchange (LME) prices and lower volume, partly offset by higher silver prices and rupee depreciation.
•Finance Minister Nirmala Sitharaman will hold a review meeting with CEOs of public sector banks (PSBs) on Friday to discuss various issues, including loan disbursement, as part of efforts to revive the economy reeling under the COVID-19 impact, sources said. •Bajaj Auto Ltd is all set to enter Thailand with its premium motorcycle brands, including KTM, Husqvarna, Dominar and Pulsar NS series, by July, a senior company executive told Mint on Thursday. The company plans to foray into the sports category with premium brands such as Dominar and the Pulsar NS range leading the charge, he added. •Telecom operator Bharti Airtel has acquired a strategic stake in Voicezen an early stage startup focused on conversational artificial intelligence (AI) technologies. Gurgaon-based Voicezen has been working on developing advanced solutions that leverage machine learning, AI, speech to text, and voice technologies to offer real-time analytics. Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name5 | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| 3IINFOTECH | Audited Results | 22-May-20 | IDFCFIRSTB | Audited Results;General | 22-May-20 |
| AGRITECH | Audited Results | 22-May-20 | JSWSTEEL | Final Dividend;Audited Results;General | 22-May-20 |
| APLLTD | Audited Results;General | 22-May-20 | NGLFINE | General | 22-May-20 |
| BASF | Dividend;Audited Results | 22-May-20 | ORIENTCEM | Final Dividend;Audited Results | 22-May-20 |
| BAYERCROP | Final Dividend;Audited Results | 22-May-20 | SUPREMEIND | Final Dividend;Audited Results | 22-May-20 |
| BOSCHLTD | Final Dividend;Audited Results | 22-May-20 | TRENT | Dividend;Audited Results | 22-May-20 |
| ESSELPRO | Final Dividend;Audited Results | 22-May-20 | UPL | Dividend;Audited Results | 22-May-20 |
| GODREJIND | Audited Results | 22-May-20 | WABCOINDIA | Audited Results | 22-May-20 |
Corporate Action
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| INFY | 29-May-20 | Final Dividend – Rs. – 9.50 | PAPERPROD | 11-Jun-20 | Final Dividend – Rs. – 3.00 |
| COLPAL | 1-Jun-20 | Interim Dividend -Rs.- 16.00 | KANSAINER | 12-Jun-20 | Dividend – Rs. – 3.15 |
| INDIGRID | 1-Jun-20 | Income Distribution (InvIT) | AVANTEL | 17-Jun-20 | Final Dividend – Rs. – 2.00 |
| TCS | 3-Jun-20 | Final Dividend – Rs. – 6.00 | TATACONSUM | 18-Jun-20 | Final Dividend – Rs. – 2.70 |
| DICIND | 4-Jun-20 | Final Dividend – Rs. – 4.50 | SANOFI | 29-Jun-20 | Special Dividend – Rs. – 243.00 |
| NESTLEIND | 11-Jun-20 | Final Dividend – Rs. – 61.00 | SANOFI | 29-Jun-20 | Final Dividend – Rs. – 106.00 |
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