Morning-OutlookNIFTY:

The Nifty opened at 15211.35 with a gap up of 36 points. The index rallied further and then saw a sharp decline. Prices have recorded its intraday low at 15145.45 and then traded sideways with a mildly bullish bias. That consolidation breaks on the upside. Prices have seen another sharp decline in the last 30 minutes of trading and finally closed at 15197.70 with a gain of 22.40 points. Banks and Financials have continued its outperformance and closed higher. It was a volatile day in the index where prices moved randomly in both directions.

The short term trend is up and Nifty has rallied more than 300 points in two days. So we would prefer a dip to buy again in the index. The idea is to wait for prices to come around 15100. We will then take a long trade there. Keep a stop of 80 points and target of 150 points. Long term and short term trend is up and intact. Look for a buying opportunity on dips.

BANK NIFTY:

Bank Nifty opened at 34869.30 with a gap up of 183 points. The index moved up further and recorded its intraday high at 35087.65 and then saw a sharp dip. Prices have filled the gap, recorded its intraday low at 34528.30 and then slowly moved up. Private and PSU Banks both have seen an upside move buy PSU performed better. Within the index, in terms of points, SBIN contributed highest followed by Indusind Bank. It was a volatile day in the index where prices have seen a gap, a sharp downside move and a sharp upside move.

A strong resistance is visible around 35500 in the Bank Index. Prices have almost reached at that resistance level. A breakout may give us another buying opportunity.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
ZEEL 198.05 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 194 and for the target 206.
UPL 789.35 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 780 and for the target 805

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
IOC 110 CE BUY 1.9 CMP 1 3.5 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
FINNIFTY.21.05 May 16403 0.04 53.78 26880 BRITANNIA.21.05 May 3369.55 -1.07 14.23 1963000
MINDTREE.21.05 May 2135.6 0.41 20.94 2213600 TVSMOTOR.21.05 May 623 -0.79 13.43 5415200
MUTHOOTFIN.21.05 May 1273 0.39 17.74 2683500 INDUSINDBK.21.05 May 1003.5 -1.61 12.73 19116000
BERGEPAINT.21.05 May 815.35 2.68 14.87 3661900 HINDALCO.21.05 May 389.95 -0.15 11.8 30616000
MRF.21.05 May 82550 0.09 13.46 46440 INFY.21.05 May 1352.3 -0.53 10.06 25041000
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
MPHASIS.21.05 May 1823.95 0.86 -19.94 270075 TORNTPOWER.21.05 May 439.8 -2.85 -19.79 1945500
ESCORTS.21.05 May 1174.2 0.96 -16.14 2185700 IDEA.21.05 May 8.55 -0.58 -15.44 427840000
CADILAHC.21.05 May 624 1.15 -14.17 15833400 BOSCHLTD.21.05 May 15249.9 -0.29 -13.63 94100
APLLTD.21.05 May 961.8 0.37 -10.94 1087900 SRF.21.05 May 6382.15 -1.5 -12.99 351625
AARTIIND.21.05 May 1675.2 0.32 -8.56 735250 INDUSTOWER.21.05 May 243.4 -1.24 -7.09 9461200

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hero Motocorp Limited 2900.45 0.56 1587246 1114960 67.23 Nifty Realty 325 1.36 100764
Infosys Limited 1348.05 -0.48 4225371 3292758 66.26 Nifty Energy 19583.55 1.33 100764
Alkem 2996.15 -0.24 255748 281653 66.15 Nifty Media 1687.55 1.2 100764
Tata Consultancy Serv Lt 3081.5 0.03 1652260 1085313 64.39 Nifty Bank 34943.6 0.97 100764
Piind 2549.3 -0.63 548795 408845 61.03 Nifty Pharma 14034.65 0.29 100764
Dabur India Ltd. 533.25 -0.65 2142262 934199 59.03 Nifty it 26144.2 0.15 100764
Hindustan Unilever Ltd 2336.55 -1.09 1194864 454659 58.93 Nifty 50 15197.7 0.15 100764
Hcl Technologies Ltd. 932.8 0.23 4191877 2431471 58.43 Nifty Auto 10315.75 0.03 100764
Godrej Cons Products Ltd 808.3 -1.24 1910129 876375 58.02 Nifty Fmcg 34572.5 -0.34 100764
Petronet Lng Limited 237.95 0.59 2021448 1558900 57.85 Nifty Metal 5068.6 -0.6 100764

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: FX Reserves, USD on 28th  May, 2021

INR: GDP Quarterly (YoY) (Q4) on 31st  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

•Casual dining restaurant chain Barbeque Nation on Monday posted a consolidated net profit of Rs 6.1 crore in the March quarter as against loss of Rs 27 crore in the year-ago period. Its revenue from operations increased 19 per cent to Rs 226 crore for the quarter under review. It was Rs 190 crore in the same quarter last year. The company’s operating profit or EBITDA stood at Rs 56 crore, up 128 per cent year-on-year with margins of 24.8 per cent.

•State-run Canara Bank on Monday said it is looking to raise capital through a mix of equity and debt instruments in the current fiscal and a meeting of the board of directors will take place on May 28. However, the bank has not mentioned how much amount it plans to raise during 2021-22.

•Dr Reddy’s Laboratories has earmarked a Capex of around Rs 1,000 crore for the current fiscal as it remains positive about sustaining its growth trends in the current fiscal and beyond, as per a top company official. The Hyderabad based firm invested about Rs 1,000 crore in the 2020-21 fiscal.

•Investors in the Container Corporation of India Ltd (Concor) stock heaved a sigh of relief after clarity emerged on the contentious land licensing fee (LLF) issue. The stock rose to a new 52-week high on Monday and ended the day’s session more than 8% higher on the National Stock Exchange.In a conference call, the management said it has resolved the issue with the Indian Railways. “The overhang of uncertainty on account of land licence fee (LLF) is largely behind us as LLF estimates for the company and Indian Railways appear to have converged. LLF for FY21 seems to be largely settled and is modestly lower than our estimate of Rs590 crore. This is a key positive for the stock.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ALKEM Audited Results;Final Dividend 25-May-21 NEWGEN Audited Results;Dividend 25-May-21
ASTRAZEN Audited Results 25-May-21 PGEL General 25-May-21
BAJAJELEC Audited Results 25-May-21 POLYPLEX Audited Results;Final Dividend 25-May-21
BAYERCROP Results;Dividend;Final Dividend 25-May-21 RAMCOSYS Audited Results;General 25-May-21
CAMS Audited Results;Final Dividend 25-May-21 SISL Audited Results;Final Dividend 25-May-21
EMAMILTD Audited Results 25-May-21 STOVEKRAFT Audited Results 25-May-21
GATI Audited Results 25-May-21 TCI Audited Results;Final Dividend 25-May-21
IGARASHI Audited Results;Final Dividend 25-May-21 TRANSPEK Audited Results 25-May-21
INDOCO Audited Results;Final Dividend 25-May-21 TTKPRESTIG Audited Results;Dividend 25-May-21
KIRLOSBROS Audited Results;Dividend 25-May-21 TVSSRICHAK Audited Results;Dividend 25-May-21
LAOPALA Final Dividend;Quarterly Results 25-May-21 VIPIND Audited Results 25-May-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
BRITANNIA 25-May-21 Scheme of Arrangement CIGNITI 27-May-21 Final Dividend – Rs. – 2.50
BRITANNIA 25-May-21 Dividend – Rs. – 12.50 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
TRIDENT 25-May-21 Final Dividend – Rs. – 0.3600 TATACOFFEE 28-May-21 Dividend – Rs. – 1.50
AVANTEL 27-May-21 Final Dividend – Rs. – 4.00 HDFC 31-May-21 Dividend – Rs. – 23.00

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