Outlook-26-05-2021NIFTY:

The Nifty opened at 15291.75 with a gap up of 94 points. The index recorded its intraday high near the opening tick and then started a downfall. Prices have recorded its intraday low at 15163.40 after the afternoon session and then saw a mild recovery in the last hour of trading. The index finally closed at 15208.45 with a gain of 10.75 points. The Media sector has performed well and closed higher by more than 3%. Banks and Financial have dragged the markets.

The Nifty continued moving volatile. Another gap up opening did not sustain and the index closed almost unchanged. It was a trend day on the downside where the opening tick was near the intraday high and the closing tick near the intraday low. The index ended near 15200 for the second consecutive day. Index is trading near the lifetime highs. We have mentioned prices may move choppy and narrow for a couple of days, but the theme is bullish and traders should look to buy on dips.

BANK NIFTY:

Bank Nifty opened at 35095 with a gap up of 260 points. The index recorded its intraday high at 35125.85 and started drifting downwards. Prices have recorded its intraday low at 34410.40 and then seen some recovery to finally close at 34662. Private and PSU Banks both have seen a downside move and closed lower. Within the index, HDFC Bank contributed highest followed by ICICI Bank. It was a trend day on the downside. A strong resistance is visible around 35500 in the Bank Index. While support is visible around 33900.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
SUNPHARMA 696.10 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 688 and for the target 710
NAVIN FLUORINE 3287.05 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 3260 and for the target 3330

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
TCS 3120 CE BUY 16 CMP 5 32 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
MFSL.21.05 May 932.9 3.28 26.55 2394600 BANDHANBNK.21.05 May 294.55 -1.5 19.2 19107000
CONCOR.21.05 May 677.2 6.43 23.11 5162589 GODREJCP.21.05 May 808.25 -0.22 17.07 4061000
COLPAL.21.05 May 1715.5 4.8 22.7 3220000 ICICIPRULI.21.05 May 535.1 -3.62 17.05 6405000
TVSMOTOR.21.05 May 633.7 1.98 16.82 3773000 ACC.21.05 May 1963.95 -0.96 15.45 1898000
GAIL.21.05 May 154.6 1.81 15.44 26400800 AMARAJABAT.21.05 May 737.4 -5.81 15.04 4299000
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
ZEEL.21.05 May 202 1.69 -24.89 34716000 AMBUJACEM.21.05 May 321.95 -1.42 -22.83 5832000
TATACONSUM.21.05 May 651.05 1.45 -18.76 3723300 LICHSGFIN.21.05 May 452 -1.56 -16.43 3368000
HEROMOTOCO.21.05 May 2937 0.92 -17.33 1827600 BOSCHLTD.21.05 May 15118.9 -0.84 -16.21 65400
TATAMOTORS.21.05 May 315.55 1.04 -14.88 53580000 GRANULES.21.05 May 320.65 -0.47 -15.29 5685400
MGL.21.05 May 1144.5 0.19 -12.8 1050600 TATACHEM.21.05 May 704.95 -0.7 -13.92 4556000

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Britannia Ind Ltd. 3439.5 1.79 1318946 1148592 69.88 Nifty Media 1741 3.17 92721
Piind 2563 0.54 213171 378101 68.9 Nifty it 26393.9 0.96 92721
Sbi Life Insurance Compa 965.3 0.29 1235079 1243848 67.55 Nifty Auto 10384.3 0.66 92721
Hindustan Unilever Ltd 2344.05 0.32 1098457 789702 66.09 Nifty Metal 5099.4 0.61 92721
Infosys Limited 1361.6 1.01 4099340 2718187 64.33 Nifty Fmcg 34780.85 0.6 92721
Kotak Mahindra Bank Limi 1750.5 -0.37 2201625 2173363 60.14 Nifty Pharma 14090.1 0.4 92721
Dabur India Ltd. 530.55 -0.51 2341520 1285985 60.03 Nifty Realty 326.2 0.37 92721
Alkem 2905 -3.04 1123804 151399 59.2 Nifty 50 15208.45 0.07 92721
Itc Ltd. 210.9 -0.28 25334878 16372254 56.72 Nifty Energy 19542.4 -0.21 92721
Indus Towers Limited 241.85 -0.1 1426163 1464136 56.04 Nifty Bank 34662 -0.81 92721

UPCOMING ECONOMIC DATA

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

INR: GDP Quarterly (YoY) (Q4) on 31st  May, 2021

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

•USD : GDP Growth Rate QoQ 2nd Est Q1on 27th May, 2021

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NEWS UPDATES

•HDFC Bank expects the otherwise resilient retail segment to report a higher incidence of asset quality stress because of the second wave of COVID-19 infections. Borrowers who had to avail cover under regulatory dispensations like moratorium and restructuring after the first wave will be the highest impacted, its chief executive and managing director Sashidhar Jagdishan said on an investor call

•Emami Ltd on Tuesday reported over three-fold jump in its consolidated net profit to Rs 87.73 crore for the quarter ended March 31. The company had posted a net profit of Rs 22.75 crore during the March quarter of the previous financial year. Its revenue from operations in January-March 2021 jumped 37.2 per cent to Rs 730.76 crore as against Rs 532.68 crore in the year-ago period.

•Infosys on Tuesday said it has seen no major impact on client deliverables due to the ongoing pandemic, and has been working proactively with clients to mitigate any potential impact.

•Bajaj Electricals on Tuesday reported a consolidated net profit of Rs 54.26 crore for the quarter ended March 31, 2021. It had registered a net loss of Rs 81 lakh in the January-March period of the previous financial year. The company’s total revenue from operations in January-March 2021 stood at Rs 1,258.47, down 3.24 per cent as against Rs 1,300.66 crore in the year-ago period.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ALLSEC Audited Results 26-May-21 HINDCOMPOS Final Dividend;Quarterly Results 26-May-21
ARVIND Results;Final Dividend;General 26-May-21 MANAPPURAM Audited Results;Interim Dividend 26-May-21
BERGEPAINT Audited Results;Dividend 26-May-21 MOLDTKPAC Audited Results;Final Dividend 26-May-21
BPCL Audited Results;Final Dividend 26-May-21 PFIZER Audited Results;Dividend 26-May-21
BURGERKING Audited Results 26-May-21 PRICOLLTD Audited Results 26-May-21
CIFL Final Dividend;Preferential Issue 26-May-21 SAHYADRI Audited Results;Final Dividend 26-May-21
CUMMINSIND Audited Results;Final Dividend 26-May-21 SAKSOFT A.G.M.;Audited Results;Dividend 26-May-21
DAAWAT Audited Results 26-May-21 SHARDACROP Audited Results;Final Dividend 26-May-21
DATAMATICS Audited Results;Final Dividend 26-May-21 TIRUMALCHM Audited Results;Dividend 26-May-21
FDC Audited Results 26-May-21 TOWERINFRA General 26-May-21
GABRIEL Audited Results;Final Dividend 26-May-21 VGUARD Audited Results;Dividend 26-May-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
AVANTEL 27-May-21 Final Dividend – Rs. – 4.00 HDFC 31-May-21 Dividend – Rs. – 23.00
CIGNITI 27-May-21 Final Dividend – Rs. – 2.50 INFY 31-May-21 Final Dividend – Rs. – 15.00
INDINFR 27-May-21 Income Distribution (InvIT) INDIGRID 01-Jun-21 Income Distribution (InvIT)
IBULHSGFIN 28-May-21 Interim Dividend – Rs. – 9.00 KANPRPLA 02-Jun-21 Special Dividend – Rs. – 1.00
JMFINANCIL 28-May-21 Dividend – Rs. – 0.50 TOWERINFRA 02-Jun-21 Income Distribution (InvIT)
TATACOFFEE 28-May-21 Dividend – Rs. – 1.50 RAWEDGE 03-Jun-21 Bonus issue 1:5

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