Outlook-31-05-2021NIFTY:

The Nifty opened at 15421.20with a gap up of 84 points. The index moved narrow, choppy and range bound for the whole day. In this process, prices have recorded first its intraday low at 15394.75 and then its intraday high at 15469.70. The index moved very randomly and finally closed at 15435.65 near its intraday highs with a gain of 97.80 points. The Financial, FMCG and Metal have performed well while Pharma, IT and Media closed lower.

We had taken a long trade in the Nifty on a breakout above 15350. We have suggested a stop at 15270 and a target of 15500. Prices neither touched the stop nor target. Hold onto the trade and modify stop loss to 15350.

It was a choppy and narrow day in the index where prices have moved sideways without any clear sense of direction but ended with gains. The index recorded lifetime new highs and ended on a record level. The trend is very strong on the upside. Since prices are in uncharted territory so the resistance is not visible. However 15500 is a psychological resistance. Support is visible around 15200.

BANK NIFTY:

Bank Nifty opened at 35345.65 with a gap up 211 points. The index first recorded its intraday high at 35436.65 and then moved lower. Prices have seen a mild intraday decline and then a sharp recovery in the last 30 minutes of trading.  Private and PSU Banks both have performed almost same and closed with marginal gains. Within the index, HDFC Bank contributed highest while ICICI Bank the lowest.

It was a choppy day in the index where prices have moved in a narrow range and finally ended with marginal gains above 35000.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
ADANIPORTS 776.15 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 764 and for the target 792
ITC 212.9 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 210 and for the target 217

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
L&TFH 95 CE BUY 4.45 CMP 3.4 6.5 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
SUNTV.21.06 Jun 549.65 1.69 10014 15171000 MFSL.21.06 Jun 939.4 -0.62 8120.51 2083900
ADANIPORTS.21.06 Jun 781.1 3.91 8140.23 71690000 APLLTD.21.06 Jun 948.8 -0.08 6990.91 1287000
RAMCOCEM.21.06 Jun 965 0.75 8121.43 1956700 PAGEIND.21.06 Jun 31441.65 -1.16 5478.72 78660
LTI.21.06 Jun 3949.95 0.87 7292.73 609900 AUROPHARMA.21.06 Jun 1025.9 -0.34 4365.56 8765900
PETRONET.21.06 Jun 242.2 0.92 6738.75 16413000 ULTRACEMCO.21.06 Jun 6632.75 -0.86 4179.74 2345300
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Dabur India Ltd. 530.4 0.61 1322812 5823849 81.97 Nifty Energy 19566.8 1.41 3887025
Hindustan Unilever Ltd 2321.7 -0.2 1215325 3058515 81.45 Nifty 50 15435.65 0.64 48006649
Hdfc Ltd. 2541.35 1.3 2548032 11258336 79.73 Nifty Metal 5055.75 0.25 145017612
Bharat Electronics Ltd 144.85 -2.49 14875105 93567376 77.92 Nifty Auto 10510.25 0.23 70373833
Nestleind 17509.4 -1.34 53162 91643 76.58 Nifty Fmcg 34890.5 0.22 585091
Godrej Cons Products Ltd 844.7 1.61 2050175 5322605 73.76 Nifty Bank 35141.45 0.13 21018606
Info Edge (india) Limite 4461.75 -0.51 494066 1125353 72.26 Nifty Realty 331.6 0.05 2147483500
Bharti Airtel Limited 523.6 0.73 10060110 15838685 70.82 Nifty it 27122.8 -0.15 1105154
Power Grid Corporation o 225.45 -1.25 8610470 19545676 67.87 Nifty Media 1785.75 -0.3 411456106
Grasim Ind Ltd. 1465.45 3.41 2689838 3005396 67.52 Nifty Pharma 13934.1 -1.18 52890642

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Infrastructure Output (YoY) (Apr) on 31st  May, 2021

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

•USD : ISM Manufacturing PMI (May) on 1st June, 2021

•USD : ADP Nonfarm Employment Change (May) on 3rd June, 2021

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NEWS UPDATES

•Rising polymer spreads amid demand from automobiles, durables, consumer goods, medical supplies, and packaging industries will provide significant upside to Reliance Industries Ltd.’s petrochemicals operating income in the ongoing fiscal, according to Jefferies. The portfolio spread for polymers, accounting for 45% of RILs petrochemicals business is nearing a decade high and is 30% ahead of Jefferies estimates for FY22, the brokerage said in a May 28 report. The polymer spreads—difference between the price of a barrel of polymers and benchmark crude—have hit record highs due to strong consumer spending in the U.S. and China, it said. High spreads are likely to sustain in FY22, aided by sustained demand on fiscal support in major economies, commissioning delays in new project, and vaccine penetration.

•Deepak Fertilisers and Petrochemicals Corporation on Friday reported a 415% year-on-year jump in net proft to Rs 116 crore for the March 2021 quarter. Consolidated revenues grew by 21.8% y-o-y to Rs 1,575 crore in the quarter. Revenues from the chemical business increased by 15% to Rs 870 crore with margins going up to 27% in the quarter. Global specialty chemical value chains were moving from China to India, boosting nitric acid demand and prices in India, the company said.

•The Reserve Bank of India on Friday fined HDFC Bank Rs 10 crore for irregularities found in its auto loan book. The regulator found the bank deficient in compliance. The regulator said that after receiving a complaint from a whistle blower it had conducted a examination in the marketing and sale of third-party non-financial products to the bank’s auto loan customer.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ASIANTILES Audited Results;Final Dividend 31-May-21 NAHARPOLY Audited Results;Dividend 31-May-21
ASTRON Audited Results;General 31-May-21 NELCAST Audited Results;Dividend 31-May-21
AUROPHARMA Audited Results 31-May-21 PNBHOUSING General 31-May-21
CHEMCON General;Quarterly Results 31-May-21 PRAKASH Audited Results 31-May-21
GALLOPENT Dividend;Quarterly Results 31-May-21 RIDDHI Dividend;Quarterly Results 31-May-21
JAMNAAUTO Audited Results;Final Dividend 31-May-21 RTL Final Dividend;Quarterly Results 31-May-21
JBFIND Quarterly Results 31-May-21 RUPA Audited Results;Dividend 31-May-21
JINDALPHOT Audited Results 31-May-21 SHILPAMED Audited Results;Quarterly Results 31-May-21
KEDIACN General 31-May-21 SHRIDINE Final Dividend;Quarterly Results 31-May-21
LASA Audited Results 31-May-21 SIMPLXREA Results;Consolidation of Shares 31-May-21
LLOYDSTEEL General;Quarterly Results 31-May-21 TRF General;Quarterly Results 31-May-21
MANINDS Audited Results;Final Dividend 31-May-21 URJAGLOBA Audited Results 31-May-21
MANOMAY Audited Results 31-May-21 UTTAMSTL Audited Results 31-May-21
MARKSANS Audited Results;Final Dividend 31-May-21 VASCONEQ Audited Results;General 31-May-21
MORGANITE Audited Results;Final Dividend 31-May-21 VENUSREM Preferential Issue of shares 31-May-21
NAHARINDUS Audited Results 31-May-21 WEBELSOLAR Audited Results 31-May-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
HDFC 31-May-21 Dividend – Rs. – 23.00 RAWEDGE 03-Jun-21 Bonus issue 1:5
INFY 31-May-21 Final Dividend – Rs. – 15.00 SBIN 03-Jun-21 Dividend – Rs. – 4.00
INDIGRID 01-Jun-21 Income Distribution (InvIT) CUB 04-Jun-21 Interim Dividend – Rs. – 0.30
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

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