Morning-OutlookNIFTY:

The Nifty opened at 14747.35 with a gap down of 147 points. The index first moved on the upside and recorded its intraday high at 14855.45. The rally quickly fizzled out and prices have started drifting downwards. A sharp decline of more than 250 points brought prices to its intraday low at 14601.70. The index finally closed at 14631.10 near its intraday low with a loss of 263.80 points. All the sectoral indices have seen a decline except Pharma which closed with a gain of more than 1%. The Banks ad Financials have led the bears and closed lower by more than 2.50%. Nifty continued trading volatile and the index ended below 14700 support. An attempt to fill the gap down fizzled out quickly. Bears came at a higher level and pushed prices even lower. Financials have led the decline as HDFC twins have ended lower by more than 4%. As we explained earlier, ‘The index has rallied more than 700 points in the last few trading days so a correction is possible.’ That correction came as Nifty has seen a down move of more than 400 points from its previous swing high in just two days. The index has broken 14700 support and now heading towards 14500 support. A buying opportunity will emerge if Nifty hold its support at 14500. On Monday we should look for a buying opportunity above 14600 with a stop at 14490 and target of 14850.

BANK NIFTY:

Bank Nifty opened at 33112.40 with a gap down of 552 points. The index first moved up and recorded its intraday high at 33455.25.Prices then saw a sharp intraday fall to recorded its intraday low at 32663.60. The index finally closed at 32781.80 near its intraday low with a loss of 950 points. Private Banks have underperformed and closed lower by 2.35% while PSU Banks have also closed lower by 1.04%. Within the index, HDFC Bank contributed highest on the downside followed by ICICI Bank.

Bank Nifty continued trading volatile for the second consecutive day.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
SUNPHARMA 654.45 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 645 and for the target 675
IOC 90.85 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 88 and for the target 95

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
PFC 110 CE BUY 3.95 CMP 2.4 7 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
COLPAL.21.05 May 1486.4 0.25 2561.94 3549700 ADANIPORTS.21.05 May 735.1 -1.5 4587.34 71716250
TATAPOWER.21.05 May 99.3 1.69 2518.77 114898500 PEL.21.05 May 1685.2 -0.12 2566.52 3395150
BHEL.21.05 May 48.55 2.97 2489.53 93534000 TATAMOTORS.21.05 May 294.75 -2.47 2143.63 93357450
SUNTV.21.05 May 546.85 5.3 2323.83 14797500 HAVELLS.21.05 May 993.8 -1.64 1943.62 4567500
APLLTD.21.05 May 992.2 1.18 2281.11 1178650 ULTRACEMCO.21.05 May 6306.7 -1.16 1914.24 2390900
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
GAIL.21.05 May 138 2.45 -20.72 31671200 TATACONSUM.21.05 May 670.75 -0.15 -43.42 6813450

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Mphasis Limited 1764.8 -0.29 457673 377404 66.57 Nifty Pharma 13469.25 1.28 59720250
Colgate Palmolive (india 1481.9 -0.26 725194 355425 64.21 Nifty Metal 4847.95 -0.15 165263479
Hindustan Petroleum Corp 234.65 2.15 15563433 3905242 63.62 Nifty Energy 18031.1 -0.18 2878877
Petronet Lng Limited 239.95 2.17 3756006 1406443 63.02 Nifty Media 1547.95 -0.36 517820156
Hdfc Life Insurance Comp 665.1 -1.42 2742166 2420410 61.44 Nifty it 25664.45 -0.81 2060214
Infosys Limited 1354.35 -0.15 8354677 3130945 57.85 Nifty Realty 309.6 -0.83 2147483500
Larsen & Toubro Infotech 3890.25 1.02 303588 144987 56.24 Nifty Fmcg 33623.45 -1.13 760159
Tech Mahindra Limited 960.4 -1.69 3129105 1536386 55.92 Nifty Auto 9640.85 -1.36 82931563
Torrent Pharma Ltd. 2509.25 0.35 183152 210966 55.05 Nifty 50 14631.1 -1.77 54611487
Tata Consultancy Serv Lt 3035.65 -2.56 3072305 837567 51.66 Nifty Bank 32781.8 -2.77 24329636

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  Nikkei Markit Manufacturing PMI (Apr) on 3rd  May, 2021

INR:  Preliminary Trade Data on 3rd  May, 2021

•USD : ISM Manufacturing PMI (Apr) on 3rd May, 2021

•USD:  Trade Balance (Mar) on 4th May, 2021

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NEWS UPDATES

• India’s goods and services tax collection touched an all-time high as the economy continues to rebound after the disruption caused by the pandemic. GST revenue for March, collected in April, was around Rs 1,41,384 crore, according to a statement from the Ministry of Finance on Saturday. That was 14% higher than the previous month.

•Reliance Industries Ltd (RIL) on Friday reported consolidated net profit of Rs 13,227 crore for the quarter ended March 31, 2021 (Q4FY21), up 108 per cent from Rs 6,348 crore logged in the corresponding quarter last year (Q4FY20). Sequentially, the profit rose 1 per cent. It was Rs 13,101 crore in the December quarter (Q3FY21). The company’s board declared a dividend of Rs 7 per share for the financial year 2020-21. The oil-to-telecom conglomerate’s revenue from operations rose 11 per cent to Rs 1.54 trillion as compared to Rs 1.39 trillion in the year-ago period.

•Maruti Suzuki India Ltd. posted total sales of 159,691 units in April. This is a de-growth of 4.3% over the 167,014 units it sold last month.

•Tata Motors Ltd.’s passenger vehicle division sold 25,095 units in April, the company said in a statement on Saturday. Passenger vehicle sales fell 15% over last month. Year-on-year the domestic sales are not comparable because of covid led lockdown last year. Overall Tata Motors’ domestic sales fell 41% to 39,530 units in April from 66,609 units it sold in March.

•Escorts Ltd.’s agri machinery segment sold 6,979 tractors in March declined 43% over the last month.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
APOLLOTRI Audited Results 03-May-21 SBILIFE Audited Results 03-May-21
GODREJPROP Audited Results 03-May-21 SGRL Audited Results;Final Dividend 03-May-21
HOMEFIRST Audited Results 03-May-21 SUPRAP General 03-May-21
IDBI Audited Results 03-May-21 SUPREMEIND Audited Results;Final Dividend 03-May-21
JK AGRI Audited Results;Dividend 03-May-21 TATACHEM Audited Results;Final Dividend 03-May-21
KOTAKBANK Audited Results;Dividend 03-May-21 TBZ Audited Results;Final Dividend;General 03-May-21
NCLIND Interim Dividend 03-May-21 TELESYS General 03-May-21
PANKAJPO Audited Results 03-May-21 UDAYJEW General 03-May-21
PILITA Audited Results 03-May-21 UNIVARTS A.G.M.;Audited Results;General 03-May-21
RACLGEAR General 03-May-21 VARIMAN General 03-May-21
REGENCY General 03-May-21 VBL Quarterly Results 03-May-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
SANGHVIFOR 03-May-21 Resolution Plan -Suspension ALLSEC 06-May-21 Interim Dividend – Rs. – 15.00
STOVACQ 03-May-21 Dividend – Rs. – 22.00 APTECHT 06-May-21 Interim Dividend – Rs. – 2.2500
GDL 04-May-21 Interim Dividend – Rs. – 5.00 EMBASSY 06-May-21 Income Distribution (InvIT)
LXMIATO 04-May-21 Consolidation of Shares PRIMEFRESH 06-May-21 Bonus issue 2:1
CRISIL 05-May-21 Interim Dividend – Rs. – 7.00 SRIND 06-May-21 E.G.M.
SALORAINTL 05-May-21 E.G.M. SEZAL 07-May-21 Resolution Plan -Suspension

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