NIFTY:

The Nifty opened at 14687.25 with a gap up of 53 points. The index first recorded its intraday high at 14723.40 within the first few minutes of trading and then started moving downside. Prices fell for the next 30 minutes and then started moving sideways. That sideways movement again broke on the downside around 1:00 PM. The index recorded its intraday low at 14461.50 and finally closed at 14496.50 with a loss of 137.65 points. All the sectoral indices have closed in red. The Pharma, Auto and Financial have led the decline. We were long in the index from 14600. Prices have seen a sharp intraday decline and we were stopped at 14550. It was a trend day on the downside and the index closed a tad below 14500. The index has come back inside its range with support at 14200 and resistance at 14700.

Prices have found strong resistance around 14700 and fell more than 200 points. Short term trend has changed to sideways.

BANK NIFTY:

Bank Nifty opened at 32610.40 with a gap up of 75 points. The index first rallied higher and recorded its intraday high at 33011.55. Prices then saw a sharp intraday decline and recorded its intraday low at 32191.40. PSU Banks have significantly outperformed and closed with gains of more than 3%. Private Banks have underperformed and closed lower. Within the index, HDFC Bank contributed highest on the downside followed by ICICI Bank.

The index continued moving volatile as prices have seen an intraday rally and a sharp decline both.

Trade AnyTime AnyWhere With Elite Empower Mobile App

Elite-Empower-App-Promotional-Banner-img1

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
BANK BARODA 70.40 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 67 and for the target 76
TATACHEM 708.55 SELL The stock has given a breakdown from a narrow trading range. The stock can be sold below 700 with a stop at 715 and for the target 670

Get All Your Mutual Fund Portfolio Retuns on Your Mobile by Elite Kuber App


Elite-Kuber-Mutual-Fund-Promotional-Banner-img

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
VEDL 260 CE BUY 16.15 CMP 14 20 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
RBLBANK.21.05 May 182.8 1.02 22.5 30461600 LTTS.21.05 May 2587.05 -8.02 43.14 742600
SRF.21.05 May 6766.05 3.04 21.71 550875 TATACHEM.21.05 May 712.2 -9.46 33.15 11844000
SBILIFE.21.05 May 988.7 2.2 12.98 6608250 TATACONSUM.21.05 May 649.4 -4.59 22.95 8561700
PNB.21.05 May 37.85 9.08 12.78 194928000 M&MFIN.21.05 May 156.25 -3.07 18.55 20632000
VEDL.21.05 May 262.55 1.78 9.5 77394600 MPHASIS.21.05 May 1760.05 -2.03 14.42 273325
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
NAM-INDIA.21.05 May 340.6 0.18 -4.52 1588800 FINNIFTYW.21.05 May 15499.9 -0.83 -66.25 7560
ADANIENT.21.05 May 1272 0.68 -1.47 14156000 COFORGE.21.05 May 2847.6 -1.99 -6.48 384375
ALKEM.21.05 May 2812 1.09 -0.87 249400 EXIDEIND.21.05 May 182.25 -0.3 -3.47 11833200
MFSL.21.05 May 901.95 0.09 -0.86 2014350 SUNTV.21.05 May 492.5 -3.08 -2.38 12717000
ADANIPORTS.21.05 May 770.55 0.5 -0.41 71702500 PFIZER.21.05 May 5262.05 -1.44 -1.49 281875

Get Stock Market Recommendation By Our Research Analysts

Market-Research-Promotional-Banner-img5

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Infosys Limited 1329.4 -1.68 4887060 2748838 60.28 Nifty Media 1525.65 -0.09 99030
Tech Mahindra Limited 960.4 0.28 4064221 1967912 56.12 Nifty Energy 17947.85 -0.2 99030
Hdfc Asset Management Co 2728.35 -0.93 282871 139595 56.06 Nifty Realty 306.25 -0.46 99030
Hdfc Life Insurance Comp 667.85 -0.6 4118750 2706687 55.15 Nifty Fmcg 33822.75 -0.5 99030
Hcl Technologies Ltd. 900.95 -0.74 6217026 3707743 53.96 Nifty Bank 32270.35 -0.6 99030
Itc Ltd. 199.6 -0.67 18259282 11090236 53.81 Nifty Metal 4921.65 -0.62 99030
Page Industries Limited 29408.8 -0.95 25145 11179 53.63 Nifty it 25489 -0.73 99030
Mphasis Limited 1754.95 -1.73 238613 154745 52.72 Nifty Auto 9577.7 -0.88 99030
Hdfc Bank Ltd. 1388.35 -1.85 10743164 5720050 50.9 Nifty 50 14496.5 -0.94 99030
Info Edge (india) Limite 4788.5 -1.57 343667 188269 50.59 Nifty Pharma 13234.75 -2.02 99030

UPCOMING ECONOMIC DATA

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

INR:  Bank Loan Growth on 7th  May, 2021

•USD: ADP Nonfarm Employment Change (Apr) on 5th May, 2021

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

Open Your Demat Account to Invest in Upcoming IPO’sDemat-and-Trading-Account-Promotion-Banner

NEWS UPDATES

•A total of 19 companies have filed applications under the production linked incentive (PLI) scheme for IT hardware, including Dell, Rising Stars Hi-Tech (Foxconn) and Lava. Further, 14 companies have filed applications under the category Domestic Companies which include Dixon, Infopower (JV of Sahasra and MiTAC), Bhagwati (Micromax), Syrma, Orbic, Neolync, Optiemus, Netweb, VVDN, Smile Electronics, Panache Digilife, HLBS, RDP Workstations and Coconics.

•Adani Ports and Special Economic Zone Ltd on Tuesday reported a consolidated net profit of ₹1,288 crore for the quarter ended 31 March, 2021. The company had posted a profit of ₹334 crore in the year-ago period. The company’s March-quarter consolidated revenue from operations rose almost 24% to ₹3,608 crore as against ₹2,921 crore a year ago. The board has recommended a dividend of ₹5/-) per equity share of Rs. 2/- each fully paid-up for FY21.

•Mphasis said on Tuesday it is expanding its footprint in the UK with a special focus on digital transformation initiatives in banking & insurance, by establishing a nearshore centre, outside of London. Mphasis expects to create close to 1000 UK jobs to begin with; invest over GBP 25 million upfront towards establishing the centre, and provide upskill and training in both digital transformation as well as domain expertise in the UK banking & insurance segments.

•Morepen Laboratories reported an over two-fold rise in its consolidated net profit at Rs 26.76 crore for the quarter ended March 31, 2021, on account of higher revenue. The company had posted a net profit of Rs 11.02 crore for the corresponding period of financial year 2019-20.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ADANIENT Dividend;Audited Results;General 05-May-21 GILLETTE Interim Dividend;Results 05-May-21
ADANIGREEN Audited Results 05-May-21 INTEGRA Audited Results 05-May-21
ANANTRAJ Issue Of Warrants;General 05-May-21 JMFINANCIL Dividend;Audited Results 05-May-21
ANGELBRKG Audited Results 05-May-21 KIRLFER ESOP;Final Dividend;\Results 05-May-21
ARL General 05-May-21 KREONFIN Preferential Issue of shares 05-May-21
ASIANTNE Voluntary Delisting of Shares 05-May-21 MAITHANALL Dividend;Audited Results 05-May-21
BLUEDART Final Dividend;Audited Results 05-May-21 MEGASOFT Audited Results 05-May-21
CEATLTD Final Dividend;Audited Results 05-May-21 OFSS Dividend;Audited Results 05-May-21
CORALFINAC Final Dividend;Audited Results 05-May-21 POWERINDIA Quarterly Results 05-May-21
CRAFTSMAN Audited Results 05-May-21 QUESS Interim Dividend 05-May-21
DEEPAKNI Dividend;Audited Results 05-May-21 SANGAMIND Dividend;Audited Results 05-May-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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/-
EMBASSY 06-May-21 Income Distribution (InvIT) LAURUSLABS 11-May-21 Interim Dividend – Rs. – 0.80
PRIMEFRESH 06-May-21 Bonus issue 2:1 PGHH 11-May-21 Interim Dividend

Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, suhail@elitewealth.in
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.Company-Specific Disclosures Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in , or e-mailing research@elitestock.com with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail research@elitestock.com.Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person. Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, advisory board member or employee of any company in the analyst’s area of coverage. Country Specific Disclosures India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL Advisory discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL Advisory or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL Advisory or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL Advisory or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
2. Compensation
(a) EWL Advisory or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL Advisory or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL Advisory or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL Advisory or its associates have not received any compensation for products or services other than investment banking
or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL Advisory or its associates have not received any compensation or other benefits from the subject company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL Advisory or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL Advisory
Provided that research analyst or research entity shall not be required to make a disclosure as per sub-clauses (c), (d) and (e) of clause (ii) or sub-clauses (a) and (b) of clause (iii) to the extent such disclosure would reveal material non-public information regarding specific potential future investment banking or merchant banking or brokerage services transactions of the subject company.
(4) EWL Advisory or its proprietor has never served as an officer, director or employee of the subject company;
(5) EWL Advisory has never been engaged in market making activity for the subject company;
(6) EWL Advisory shall provide all other disclosures in research report and public appearance as specified by the Board under any other regulations.