Outlook-02-06-2021NIFTY:

The Nifty opened at 15629.65 with a gap up of 47 points. The index initially moved up and recorded its intraday high at 15660.75. Prices found resistance there and started moving down. The index recorded its intraday low at 15528.30 and found support there. The index then moved sideways and finally closed at 15574.85. The Media, IT and Pharma performed well and closed higher. Banks and Metal have underperformed and closed lower. It was a narrow and volatile day in the index. First prices opened with a gap up that did not sustain. A sharp intraday decline filled that gap. Prices then saw minor rallied which fizzled out quickly. The index continued recorded a new lifetime high for three consecutive days.

As discussed the markets have seen an upside move of more than 700 points in the last 8 trading days. So we may see some dip or consolidation.

BANK NIFTY:

Bank Nifty opened at 35639.75 with a gap up of 155 points. The index first moved up and recorded its intraday high at 35713.90 and then moved down. Prices filled the gap up completely and recorded its intraday low at 35421.20. PSU and Private Banks both have seen a decline and closed lower. SBIN Contributed highest while ICICI Bank the lowest.

The index is finding It difficult to move above 35500. A strong resistance is visible around 36500 while support around 35000.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
ADANIPORTS 798.20 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 787 and for the target 820.
ONGC 117.60 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 115 and for the target 122

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
SBIN 430 CE BUY 16.5 CMP 13 21 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ALKEM.21.06 Jun 3135.05 4.3 31.63 468600 ASHOKLEY.21.06 Jun 121.95 -1.81 15.7 37710000
ONGC.21.06 Jun 118.25 3.73 13.88 52429300 CUB.21.06 Jun 167.55 -2.93 10.48 5948900
AARTIIND.21.06 Jun 1721.85 2.4 9.61 804950 SAIL.21.06 Jun 121.5 -4.71 9.3 189335000
MINDTREE.21.06 Jun 2430.85 1.29 9.01 1760800 SRTRANSFIN.21.06 Jun 1400.2 -1.82 8.4 3720800
BEL.21.06 Jun 147.25 0.86 8.86 42909600 BHEL.21.06 Jun 71.3 -0.21 7.97 92326500
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
AUBANK.21.06 Jun 992 0.01 -4.37 2483000 FINNIFTYW.21.06 Jun 16664.9 -0.13 -84.35 1640
GUJGASLTD.21.06 Jun 541.95 0.59 -3.61 1767500 BANKBARODA.21.06 Jun 79.9 -1.42 -4.94 211863600
SBIN.21.06 Jun 430.25 1.87 -3.04 97687500 PNB.21.06 Jun 41.85 -1.88 -4.13 282416000
BRITANNIA.21.06 Jun 3465 0.2 -1.57 1852000 LALPATHLAB.21.06 Jun 2900.9 -2.38 -2.81 467250
SUNPHARMA.21.06 Jun 674.7 0.71 -1.12 41727000 EICHERMOT.21.06 Jun 2672.5 -0.33 -2.62 2357250

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Petronet Lng Limited 241.1 -0.14 3319475 4685344 68.94 Nifty Energy 19976.8 0.34 96624
Hindustan Unilever Ltd 2358.3 0.78 1141451 770435 65.36 Nifty Media 1767 0.32 96624
Icici Lombard General In 1466.8 -0.35 423101 420602 61.64 Nifty it 27144.4 0.11 96624
Power Grid Corporation o 224.4 -0.55 8850226 4490346 60.93 Nifty Pharma 14058.05 0.04 96624
Amara Raja Batt Ltd 739.1 -0.26 1517337 1060414 59.42 Nifty Fmcg 35241.2 -0.01 96624
Hdfc Life Insurance Comp 665.25 -0.1 1731330 1832812 58.67 Nifty Auto 10457.85 -0.32 96624
Piind 2613.6 -0.05 240381 142049 58.37 Nifty Realty 334.4 -0.52 96624
Hcl Technologies Ltd. 950.7 0.58 2944472 2356232 56.48 Nifty Bank 35337.2 -0.53 96624
Info Edge (india) Limite 4427.8 1.9 528074 420018 54.1 Nifty Metal 5121.65 -0.78 96624
Hdfc Ltd. 2580.75 1.09 3900226 1727296 53.63 Nifty  Pvt Bank 18521.6 -0.93 96624

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Nikkei Services PMI (May) on 3rd  June, 2021

INR: RBI  Interest Rate Decision on 4th  June, 2021

•USD : Initial Jobless Claims on 3rd June, 2021

•USD : ISM Non-Manufacturing PMI (May) on 3rd June, 2021

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NEWS UPDATES

•The Asian markets have the potential to outperform in the global portfolio, said the latest report by Nomura, which maintained an overweight rating on India in its Asia ex-Japan portfolio. Reliance Industries (RIL), Infosys, ICICI Bank, Mahindra & Mahindra (M&M) and Dr. Reddy’s are Nomura’s preferred picks in the Indian context. The global research and brokerage had cut the Nifty50 target to 15,340 for March 2022 (earlier target: 14,680 by December 2021), which it has retained for now.

•Pharma major Cipla on Tuesday said it is seeking clarity and guidance from the government on the possible roadmap to import vaccine, while stressing that it has been at the forefront of COVID-19 care. The statement came after a report by PTI on Monday said the company is seeking fast-track approvals to expeditiously bring Moderna’s single-dose COVID-19 booster vaccine into India.

•Nine bidders have qualified to submit their proposals for the redevelopment of Chhatrapati Shivaji Maharaj Terminus Railway Station (CSMT) in Mumbai. A statement from the Indian Railway Stations Development Corporation (IRSDC) said these are Adani Railways Transport, GMR Enterprises, Godrej Properties, Oberoi Realty, ISQ Asia Infrastructure Investments, Kalpataru Power Transmission, Anchorage Infrastructure Investments Holdings, Brookfield Infrastructure Fund IV, and Moribus Holdings.

•Coal India on Tuesday said its coal offtake rose by 38 per cent to 55 million tonnes (MT) in May on the back of revival of fuel demand from the power sector. As coal supplies surged ahead to 55 MT in May, CIL recorded a whopping 15 MT increase in volume terms against comparable month last year, logging close to 38 per cent growth.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BIGBLOC Audited Results;Final Dividend 02-Jun-21 POLOHOT Audited Results;Quarterly Results 02-Jun-21
BURNPUR Audited Results 02-Jun-21 PRERINFRA Audited Results 02-Jun-21
DVL Audited Results;Final Dividend 02-Jun-21 PVR Audited Results 02-Jun-21
GARODCH Audited Results 02-Jun-21 RATNAMANI Audited Results;Final Dividend 02-Jun-21
IOB Preferential Issue of shares 02-Jun-21 RIDHISYN Audited Results 02-Jun-21
JENBURPH Audited Results;Dividend 02-Jun-21 RLFL Audited Results 02-Jun-21
JPOLYINVST Audited Results 02-Jun-21 SPRAYKING Audited Results 02-Jun-21
KANSAFB A.G.M.;General 02-Jun-21 SPS Bonus issue;General 02-Jun-21
KONNDOR Audited Results 02-Jun-21 SUNSHINE General 02-Jun-21
LYKALABS Audited Results 02-Jun-21 WAAREE Audited Results 02-Jun-21
MOTHERSUMI Audited Results;Final Dividend 02-Jun-21 YASHMGM Audited Results 02-Jun-21
MTARTECH A.G.M.;Audited Results;Final Dividend 02-Jun-21 7NR Quarterly Results 03-Jun-21
MUTHOOTFIN Audited Results;General 02-Jun-21 AFEL Issue Of Warrants;General 03-Jun-21
NRBBEARING Audited Results;Final Dividend 02-Jun-21 APLAPOLLO Audited Results 03-Jun-21
OCTAWARE Audited Results;Half Yearly Results 02-Jun-21 ARVINDFASN Audited Results;Preferential Issue 03-Jun-21
PANACEABIO Audited Results 02-Jun-21 BRITANNIA General 03-Jun-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
KANPRPLA 02-Jun-21 Special Dividend – Rs. – 1.00 MANAPPURAM 04-Jun-21 Interim Dividend – Rs. – 0.7500
TOWERINFRA 02-Jun-21 Income Distribution (InvIT) JAYBARMARU 07-Jun-21 Bonus issue 1:1
CYIENT 03-Jun-21 Final Dividend – Rs. – 17.00 NELCO 07-Jun-21 Dividend – Rs. – 1.20
RAWEDGE 03-Jun-21 Bonus issue 1:5 HUHTAMAKI 09-Jun-21 Final Dividend – Rs. – 3.00
SBIN 03-Jun-21 Dividend – Rs. – 4.00 RALLIS 09-Jun-21 Final Dividend – Rs. – 3.00
CUB 04-Jun-21 Interim Dividend – Rs. – 0.30 ASIANPAINT 10-Jun-21 Final Dividend – Rs. – 14.50

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