Morning-OutlookNIFTY:

The Nifty opened at 14987.80 with a gap up of 81 points. The index recorded its intraday low near the opening tick and started moving upwards. The rally takes pause in the afternoon session where prices have moved narrow and sideways. The consolidation broke out on the upside and have rallied further to finally close at 15175.30. All the sectoral indices have closed with gains and participated in the rally. The Banks and Financials have led the bulls and ended with a gain of more than 3%.

We took a long trade in Nifty around 14950 we had suggested a stop of 14850 and target of 15190. Our target was met and we exited the trade with a gain of 240 points.

It was a trend day on the upside. The index found support around 14900 and closed around 15200. Short term trend is up we may face resistance around 15300 levels. The trend is bullish so traders should look to buy on dips.

BANK NIFTY:

Bank Nifty opened at 33559.8 with a gap up of 159 points. The index recorded its intraday low at the opening tick and started moving upwards. Prices have consolidated in the afternoon session and again turned up to record its intraday high at 34694.34. Private and PSU Banks have performed well and closed with decent gains. Within the index, HDFC Bank contributed highest followed by ICICI Bank. We were long in the around 33500 with a stop at 33100 and target of 34500. Our target was met and we booked a profit of 1000 points. It was a trend day on the upside.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
KOTAK BANK 1757.65 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1740 and for the target 1780
HCLTECH 930.65 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 918 and for the target 950

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
AXIS BANK 730 CE BUY 12.5 CMP 8 19 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BANKNIFTY.21.05 May 34850 4.2 28.61 1819575 GUJGASLTD.21.05 May 513.7 -0.03 14.35 1215000
FINNIFTY.21.05 May 16430 3.45 21.94 17560 HAVELLS.21.05 May 1026.65 -4.74 14.25 4910500
SBIN.21.05 May 406 5.05 21.4 122235000 GAIL.21.05 May 146.35 -0.98 11.92 35630100
TORNTPOWER.21.05 May 454 5.08 14.51 2580000 MARICO.21.05 May 461 -1.95 11.16 9484000
M&M.21.05 May 819.8 1.92 14.12 10605000 GODREJCP.21.05 May 816.05 -0.17 7.57 5616000
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
COFORGE.21.05 May 3358 0.78 -10.09 1554000 GRASIM.21.05 May 1375.8 -0.1 -20.25 11170100
ULTRACEMCO.21.05 May 6643.8 0.89 -8.58 2141000 LALPATHLAB.21.05 May 2840 -0.88 -7.92 514500
NAVINFLUOR.21.05 May 3210 0.54 -6.58 383400 BHEL.21.05 May 72 -0.96 -7.42 76251000
PNB.21.05 May 38.2 1.33 -4.41 165488000 JINDALSTEL.21.05 May 402.6 -0.02 -5.4 28912500
SRF.21.05 May 6474.35 0.5 -4.07 420875 BOSCHLTD.21.05 May 15292.25 -3.98 -3.23 125850

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hcl Technologies Ltd. 930.65 0.68 4161547 3191642 67.14 Nifty Bank 34606.9 3.82 104865
Tata Consultancy Serv Lt 3080.5 0.67 1685566 1512325 64.93 Nifty 50 15175.3 1.81 104865
Petronet Lng Limited 236.55 0.06 2694744 2358626 63.49 Nifty Realty 320.65 1.15 104865
Britannia Ind Ltd. 3435.75 0.39 521688 620576 59.3 Nifty Media 1667.6 0.99 104865
Kotak Mahindra Bank Limi 1757.65 2.89 4293112 1532482 58.99 Nifty Energy 19326.3 0.89 104865
Dabur India Ltd. 536.75 0.18 1582534 1502293 58.08 Nifty Auto 10312.4 0.84 104865
Hindustan Unilever Ltd 2362.25 0.77 771492 494928 57.8 Nifty it 26105.3 0.81 104865
Infosys Limited 1354.5 1.13 4969733 2585662 57.59 Nifty Fmcg 34690.55 0.62 104865
Bharti Airtel Limited 530.95 1.98 10299402 7365177 53.46 Nifty Metal 5099.15 0.43 104865
Axis Bank Limited 730.9 3.54 15883692 10055962 53.37 Nifty Pharma 13993.7 0.17 104865

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: FX Reserves, USD on 28th  May, 2021 •USD : New Home Sales (Apr) on 25th May, 2021

•USD : Crude Oil Inventories on 26th May, 2021

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NEWS UPDATES

•India’s largest lender State Bank of India is expecting a resurgence in demand and economic activity after June, once the pace of vaccinations picks up. The bank, which reported an 81% rise in fourth quarter profit, guided towards 10% growth in its loan book in the current financial year.

•Hindalco Industries, the country’s leading aluminium producer, reported a higher-than-expected consolidated net profit attributable to the owners of the company at Rs 1,928 crore in the March quarter. The botton line was up a staggering 189 per cent, over the corresponding figure in the year-ago period, on the back of increased revenue. The company had reported a bottomline of Rs 669 crore in the corresponding period last year.

•Two-wheeler market leader Hero MotoCorp on Saturday said it will resume production at all its manufacturing plants in India from coming Monday after temporarily shutting operations due to the coronavirus pandemic. In the beginning of this week, the company had resumed partial operations at its three plants at Gurugram and Dharuhera in Haryana and Haridwar in Uttarakhand.

•India’s largest steel producer, JSW Steel, is considering a bid to buy Liberty Steel in Britain as well as mills elsewhere, two people familiar with the matter told Reuters, as would-be buyers circle Sanjeev Gupta’s global commodities empire. JSW’s interest, which extends to plants including Gupta’s Adhunik steel mill in eastern India, could mark yet another chapter for Britain’s steel industry, which has been privatised and sold to overseas buyers as its pre-eminence slid in lock-step with the country’s manufacturing might.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
3PLAND Audited Results 24-May-21 MGL Audited Results;Final Dividend 24-May-21
ADFFOODS Audited Results;Final Dividend 24-May-21 PHARMAID Quarterly Results 24-May-21
BALAMINES Audited Results;Final Dividend 24-May-21 POLYMED General;Audited Results;Dividend 24-May-21
BARBEQUE Audited Results 24-May-21 RAMCOCEM Audited Results 24-May-21
DALMIASUG Dividend;Audited Results 24-May-21 RAMCOIND Audited Results 24-May-21
GRASIM Audited Results;Final Dividend 24-May-21 SHANTIGEAR Audited Results 24-May-21
INDCEMCAP Audited Results 24-May-21 SHIVACEM General;Increase in Authorised Capital 24-May-21
INDIACEM Dividend;Audited Results 24-May-21 SHREEPUSHK Audited Results;Issue Of Warrants 24-May-21
JKPAPER Audited Results;Final Dividend 24-May-21 SPARCSYS Audited Results 24-May-21
JSWHL Audited Results 24-May-21 SUMMITSEC Audited Results 24-May-21
LAXMIMACH Dividend;Audited Results 24-May-21 TIAANC Audited Results 24-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/- SPECMKT 25-May-21 E.G.M.
KENNAMET 24-May-21 Interim Dividend – Rs. – 20.00 TCS 25-May-21 Final Dividend – Rs. – 15.00
WELSPUNIND 24-May-21 Dividend – Rs. – 0.1500 TRIDENT 25-May-21 Final Dividend – Rs. – 0.3600
WELSPUNIND 24-May-21 Buy Back of Shares AVANTEL 27-May-21 Final Dividend – Rs. – 4.00
BRITANNIA 25-May-21 Dividend – Rs. – 12.50 CIGNITI 27-May-21 Final Dividend – Rs. – 2.50
BRITANNIA 25-May-21 Scheme of Arrangement INDINFR 27-May-21 Income Distribution (InvIT)

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