Morning-OutlookNIFTY:

The Nifty opened at 14481.05 with a gap down of 150 points. The index first recorded its intraday low at 14673.85 within the first few minutes of trading and then started moving upside. In the afternoon from 10:00 AM to 2:00 PM, the index moved sideways and narrow. Prices then saw a sharp rally which lasted towards the end of the day’s trading session. The index recorded its intraday high at 14673.85 and finally closed at 14634.15 without much of a change. Metal and FMCG have outperformed and closed with a gain of 2.16% and 1.10% respectively. Media and Banks have underperformed and closed lower. We had suggested a long trade above 14600. The index broke 14600 around 2:30 PM. Stay long with a stop at 14550 and a target of 14850. Nifty continued trading volatile and ended just a tad above 14600. The Nifty opened with a gap down and then the started moving up. Prices found support around 14500.

BANK NIFTY:

Bank Nifty opened at 32368.55 with a gap down of 346 points. The index traded very volatile and saw some random movement. The index first recorded its intraday low at 31906.55 and then its intraday high at 32566.60. Private Banks have continued its underperformance for the second day and ended with a loss of 1.11%. PSU Banks have closed lower by 0.60%. Within the index, HDFC Bank contributed highest on the downside followed by ICICI Bank.

A gap down in the index did not see a follow through.

We should look to buy if the index breaks above 32600.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
SIEMENS 1909.65 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1890 and for the target 1940
BHARTI AIRTEL 558.85 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 550 and for the target 575

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
JINDAL STEEL 450 CE BUY 25.65 CMP 21 34 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
SBILIFE.21.05 May 987 5.62 36.75 6009000 AUBANK.21.05 May 929.9 -7.54 33.49 4020000
MARICO.21.05 May 448.6 8.5 22.29 9482000 BANKNIFTY.21.05 May 32736.2 -0.48 22.46 1572175
BHEL.21.05 May 54.6 12.46 18.98 111289500 RBLBANK.21.05 May 181.75 -1.7 19.12 26807600
VOLTAS.21.05 May 963.5 0.39 17.67 3922000 BANDHANBNK.21.05 May 320.6 -3.26 16.16 17737200
PVR.21.05 May 1142.6 0.57 14.76 1898248 KOTAKBANK.21.05 May 1735.75 -1.06 13.59 12261200
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
FINNIFTYW.21.05 May 15667.9 0.15 -53.63 6640 SUNTV.21.05 May 509.4 -6.85 -6.56 13827000
CUMMINSIND.21.05 May 844.1 0.63 -2.43 985800 UBL.21.05 May 1207 -0.27 -4.69 952700
TORNTPOWER.21.05 May 397.75 0.16 -1.83 1686000 RECLTD.21.05 May 128.5 -0.31 -0.54 15420000
MUTHOOTFIN.21.05 May 1169.4 0.53 -1.14 2862000
MPHASIS.21.05 May 1789.25 1.2 -0.79 245375

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Trent Limited 783.05 0.82 841965 1353747 73.52 Nifty Metal 4952.45 2.16 98640
Tech Mahindra Limited 957.7 -0.28 3506839 2104528 67.26 Nifty Fmcg 33994.2 1.1 98640
Piind 2515.85 0.17 154162 203054 64.98 Nifty Pharma 13507.45 0.28 98640
Infosys Limited 1352.05 -0.17 4560337 5408113 64.73 Nifty Auto 9662.95 0.23 98640
Hdfc Ltd. 2418.5 -0.07 2984938 3839105 63.72 Nifty it 25676.05 0.05 98640
Tata Consultancy Serv Lt 3037 0.04 1545831 1942473 63.23 Nifty 50 14634.15 0.02 98640
City Union Bank Ltd. 169.55 1.68 2052774 865132 59.77 Nifty Energy 17983.4 -0.26 98640
Mphasis Limited 1785.8 1.19 293527 265225 57.95 Nifty Realty 307.65 -0.63 98640
Godrej Cons Products Ltd 709.05 2.5 736682 615796 57.81 Nifty Bank 32465.75 -0.96 98640
Hdfc Life Insurance Comp 671.9 1.02 4908079 1583612 57.75 Nifty Media 1527.1 -1.35 98640

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  Nikkei Services PMI (Apr) on 5th  May, 2021

INR:  Bank Loan Growth on 7th  May, 2021

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

•USD : Services PMI (Apr) on 5th May, 2021

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NEWS UPDATES

• Varun Beverages Ltd, PepsiCo’s largest franchise bottler, on Monday reported a more than two-fold jump in consolidated net profit to Rs 136.75 crore in the first quarter ended March 2021, helped by volume growth across domestic and international markets. The company, which follows the calendar year as its financial year, had posted a net profit of Rs 60.06 crore in the year-ago period.

•IDBI Bank on Monday posted 278 per cent year-on-year rise in net profit at Rs 512 crore for the foruth quarter ended March 2021 (Q4FY21) on robust growth in net interest income. The profit stood at Rs 135 crore in fourth quarter ended March 2020 ( Q4Fy20). Sequentially its net profit was up 35 per cent from Rs 378 crore in quarter ended December 2021 (Q3FY21). For FY21, net profit was Rs 1,3459 crore as against net loss of Rs 12,887 crore in FY20.

•The public offer of PowerGrid Infrastructure Investment Trust got a good response and had been subscribed 4.83 times by the morning of May 3, the final day of bidding. The public issue has received bids for 205.47 crore units against an offer size of 42.54 crore units, data available on exchanges shows.

•The production-linked incentive (PLI) scheme for solar PV modules is a positive for domestic original equipment manufacturers and it would help improve cost competitiveness for the domestic industry, rating agency ICRA said on Monday. According to ICRA, the PLI scheme along with imposition of BCD on imported modules and cells from April 2022 will improve the cost competitiveness of domestic manufacturers vis-a-vis imports.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ADANIPORTS Audited Results;Dividend 04-May-21 IIFLSEC Audited Results 04-May-21
APLLTD Audited Results;Dividend;General 04-May-21 LTI Audited Results;Dividend 04-May-21
APOLLOPIPES Audited Results;Quarterly Results 04-May-21 MOREPENLAB Audited Results 04-May-21
ATGL Audited Results;Dividend 04-May-21 PGHH Interim Dividend;Quarterly Results 04-May-21
BHAGCHEM A.G.M.;Audited Results;General 04-May-21 RBLBANK Audited Results 04-May-21
DCMSHRIRAM Audited Results;Dividend 04-May-21 SHRGLTR General 04-May-21
DRAGARWQ Audited Results 04-May-21 SKIPPER Audited Results;Final Dividend 04-May-21
EIHAHOTELS Audited Results 04-May-21 SRIPIPES Audited Results 04-May-21
ELANGO Audited Results 04-May-21 SUVEN Audited Results 04-May-21
ELANTAS Quarterly Results 04-May-21 TRISHAKT General 04-May-21
GREAVESCOT Audited Results;Dividend 04-May-21 VIKASWSP Quarterly Results 04-May-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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
ALLSEC 06-May-21 Interim Dividend – Rs. – 15.00 VAIBHAVGBL 07-May-21 Stock  Split From Rs.10/- to Rs.2/-
APTECHT 06-May-21 Interim Dividend – Rs. – 2.2500 ALKYLAMINE 11-May-21 Stock  Split From Rs.5/- to Rs.2/-

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