Morning-OutlookNIFTY:

The Nifty opened at 14604.15 with a gap up of 108 points. The index first traded sideways and recorded its intraday low at 14506.60. Prices have filled the morning gap in the first half and then rallied which lasted towards the end of the day’s trading session. Prices have recorded its intraday at 14637.90 and finally closed at 14617.85 with a gain of 121.35 points. All the sectoral indices have closed in green except realty. The Pharma and Financials have led the bulls. Nifty traded volatile for yet another day but managed to end higher above 14600. After the morning gap up, the Nifty hovered in a range for the first half but saw a sustained rally in the second half aided the index to close around the day high. The Pharma sector outshines and ended with a gain of more than 4%. Banks and Financials also contributed to the upside. The last few days have been very volatile.

We should look for an intraday trade for today. Buy above 14650 or sell short below 14500. Keep a stop of 40 points and a target of 80 points.

BANK NIFTY:

Bank Nifty opened at 32577.10 with a gap up of 284 points. The index first consolidated and filled the gap as the index made its intraday low at 32068.55. Price then moved up and continued that momentum for the rest of the day. Private and PSU Banks both have performed the same and closed with a gain of almost 1.5%. Within the index, Indusind Bank contributed highest while Bandhan Bank the lowest.

It was a tale of two halves. The first was sideways while second was bullish. The index ended with a gain of more than 1.5%.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
KOTAK BANK 1770.75 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1755 and for the target 1800
AUROPHARMA 1032 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1015 and for the target 1055

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
AXISBANK 720 CE BUY 25.50 CMP 20 32 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
VEDL.21.05 May 269.9 3.77 42.21 100923600 BANDHANBNK.21.05 May 311.5 -2.29 22.56 20399400
AARTIIND.21.05 May 1720 5.24 26.99 737800 M&MFIN.21.05 May 156 -0.19 20.14 24244000
PIIND.21.05 May 2710 8.15 18.55 527250 PNB.21.05 May 37.25 -1.06 12.49 216480000
LUPIN.21.05 May 1211.65 14.12 18.53 9908450 APLLTD.21.05 May 963.5 -4.75 12.45 1272150
SRF.21.05 May 6957.9 3.07 18.14 613750 GODREJPROP.21.05 May 1226.95 -4.43 10.57 1726400
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
FINNIFTYW.21.05 May 15698.45 1.44 -75.91 6920 SIEMENS.21.05 May 1840.7 -2.12 -7.76 879175
AMBUJACEM.21.05 May 312.65 1.49 -3.74 17775000 NAM-INDIA.21.05 May 340.65 -0.03 -0.42 1529600
RBLBANK.21.05 May 184.75 1.71 -3.61 26943900
TITAN.21.05 May 1435.2 1.66 -2.75 5801625
RAMCOCEM.21.05 May 983 1.72 -2.52 1676200

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
City Union Bank Ltd. 169.8 1.71 3330540 3653779 80.68 Nifty Pharma 13779.7 4.12 94332
Alkem 2894.45 3.42 942578 238725 75.6 Nifty Bank 32783.7 1.59 94332
Nestleind 16549.25 0.02 35322 71300 67.39 Nifty it 25786.95 1.17 94332
Hcl Technologies Ltd. 909.4 0.94 2696835 4062318 65.34 Nifty Metal 4970.15 0.99 94332
Tech Mahindra Limited 960.4 0 3041045 2571308 63.27 Nifty 50 14617.85 0.84 94332
Nippon Life India Asset 339.1 -0.29 307449 349692 60.23 Nifty Auto 9643.05 0.68 94332
Infosys Limited 1341.5 0.91 3939788 2857619 58.47 Nifty Energy 18058.8 0.62 94332
Hdfc Ltd. 2377.6 0.02 3458463 1714470 54.67 Nifty Media 1532.25 0.43 94332
Hindustan Unilever Ltd 2394.65 -0.54 1256857 772815 53.18 Nifty Fmcg 33898 0.22 94332
Colgate Palmolive (india 1493.6 0.19 321141 290955 52.6 Nifty Realty 303.2 -1 94332

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  Bank Loan Growth on 7th  May, 2021

INR:  Deposit Growth on 7th  May, 2021

•USD:  Initial Jobless Claims on 6th May, 2021

•USD : Nonfarm Payrolls (Apr) on 7th May, 2021

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NEWS UPDATES

•The Cabinet Committee on Economic Affairs (CCEA) has approved strategic disinvestment along with transfer of management control in IDBI Bank, paving the way for both the government, and Life Insurance Corporation of India (LIC) to reduce their shareholding in the lender. LIC’s Board has passed a resolution to reduce its shareholding in the bank along with government’s stake sale plan “with an intent to relinquish management control and by taking into consideration price, market outlook, statutory stipulation and interest of policy holders.”

•Adani Enterprises on Wednesday reported 282.2 per cent rise in consolidated net profit at Rs 233.95 crore for the quarter ended March 31, 2021. The company had posted a consolidated net profit attributable to the owners of the company of Rs 61.21 crore in the year-ago period, Adani Enterprises Ltd (AEL) said in a filing to BSE. The consolidated income of the company during the January-March quarter was at Rs 13,688.95 crore as compared with Rs 13,698.09 crore in the year-ago period, the filing said.

•S&P Global Ratings on Wednesday slashed India’s GDP growth forecast for the current financial year to 9.8 per cent saying the second COVID wave may derail a budding recovery in the economy and credit conditions.The US-based rating agency in March had a 11 per cent GDP growth forecast for India for the April 2021-March 2022 fiscal.

•In a bid to boost India’s health infrastructure amid the second COVID-19 wave, the Reserve Bank of India on May 5 announced an on-tap liquidity window of Rs 50,000 crore with the tenor of up to three years at repo rate. The facility will be available till March 31, 2022

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ADANIPOWER Audited Results 06-May-21 FIVEXTRADE Audited Results;General 06-May-21
ADANITRANS A.G.M.;Quarterly Results 06-May-21 FOSECOIND Quarterly Results 06-May-21
APCOTEXIND Final Dividend;Quarterly Results 06-May-21 HEROMOTOCO Final Dividend;Audited Results 06-May-21
ASHIKACR Dividend;Quarterly Results 06-May-21 HIKAL Final Dividend;Audited Results 06-May-21
BBTC Dividend;Audited Results 06-May-21 HINDMILL Audited Results 06-May-21
BLUESTARCO Final Dividend;Audited Results 06-May-21 ICRA Dividend;Audited Results 06-May-21
CAPPL Interim Dividend;Audited Results 06-May-21 IIFL Audited Results;General 06-May-21
CENTURYTEX Dividend;Audited Results 06-May-21 JOSTS Final Dividend;Results 06-May-21
COFORGE Interim Dividend;Audited Results 06-May-21 LUDLOWJUT Dividend;Audited Results 06-May-21
CREDITACC Audited Results 06-May-21 PGHL Quarterly Results 06-May-21
DHANADACO General 06-May-21 PRAJIND Final Dividend;Audited Results 06-May-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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. – 0.8000
PRIMEFRESH 06-May-21 Bonus issue 2:1 PGHH 11-May-21 Special Dividend – Rs. – 150.00
SRIND 06-May-21 E.G.M. QUESS 11-May-21 Interim Dividend
SEZAL 07-May-21 Resolution Plan -Suspension GILLETTE 12-May-21 Interim Dividend

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