Morning-Outlook

NIFTY:

The Nifty opened at 14668.35 with a gap up of 51 points. The index first moved down, filled the gap completely, and recorded its intraday low at 14611.50. Prices then started an upward move from that low and rallied more than 100 points to record its intraday high at 14743.90. Prices have finally closed at 14724.80 near its intraday high. All the sectoral indices have closed in green except Pharma. The Metal, Auto and IT sectors have led the bulls. The Nifty traded very narrow inside a range of almost 140 points. The index closed above its resistance of 14700 but struggled to cross and sustain above it for the whole day.

We should look to buy if the index moves above 14780 or look to short below 14600. Keep a stop of 100 points and a target of 180 points.

BANK NIFTY:

Bank Nifty opened at 32900.75 with a gap up of 50 points. The index traded very narrow and moved sideways. In this process prices have recorded its intraday high at 32956.35 and intraday low at 32564 and finally closed at 32827. PSU Banks have underperformed and closed with a loss of more than 1%. Private Banks also closed lower with minor losses. Within the index, ICICI Bank contributed highest while Bandhan Bank the lowest. It was a narrow range day in the index where prices have moved in a range of just 392 points.

We should look for a buying opportunity above 33100 while a move below 32300 is a selling opportunity.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
IGL 519.85 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 511 and for the target 533
HEROMOTOCO 2913.30 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 2880 and for the target 3000.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
KOTAK BANK 1800 CE BUY 48.35 CMP 33 70 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
COFORGE.21.05 May 3390 17 140.76 952500 BANDHANBNK.21.05 May 292.8 -5.82 40.12 27775800
MPHASIS.21.05 May 1856.3 5.49 62.99 442325 LTI.21.05 May 3835 -2.7 20.35 439200
MINDTREE.21.05 May 2258 3.8 19.11 1692800 CIPLA.21.05 May 888.6 -0.72 14.35 17773600
VOLTAS.21.05 May 986.4 0.99 11.44 2786000 DEEPAKNTR.21.05 May 1899.05 -1.1 13.32 1565500
AARTIIND.21.05 May 1790 4.54 11.24 803675 PNB.21.05 May 36.15 -2.82 12.34 2.25E+08
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
AUBANK.21.05 May 962 1.46 -8.5 3080500 TATACHEM.21.05 May 677.05 -3.64 -5.24 9938000
BANKNIFTY.21.05 May 33011.3 0.11 -4.71 1433350 SRF.21.05 May 6780 -1.6 -4.84 565750
ADANIENT.21.05 May 1293.65 1.48 -2.61 13443000 LUPIN.21.05 May 1199.25 -0.79 -4.47 9226750
EICHERMOT.21.05 May 2445.3 2.42 -2.31 2658600 CUMMINSIND.21.05 May 842.5 -1.54 -2.14 986400
BOSCHLTD.21.05 May 13682 1.77 -2.16 93050 SUNTV.21.05 May 492.3 -1.97 -1.85 12022500

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
City Union Bank Ltd. 170.75 0.56 2194011 2335692 70.13 Nifty Metal 5095 2.51 90669
Power Grid Corporation o 215.4 -1.28 10588285 8383019 64.3 Nifty it 26258.7 1.83 90669
Page Industries Limited 29547 -0.3 13088 16596 59.48 Nifty Auto 9815.1 1.78 90669
Tech Mahindra Limited 977.95 1.83 4620827 1784884 58.69 Nifty Media 1552.95 1.35 90669
Hdfc Ltd. 2430.1 2.21 2401866 1961228 56.71 Nifty 50 14724.8 0.73 90669
Hdfc Life Insurance Comp 671.8 -0.39 2269126 1272392 56.57 Nifty Realty 305.35 0.71 90669
Vedanta Limited 268.85 1.72 20191746 45312431 54.54 Nifty Energy 18178.2 0.66 90669
Infosys Limited 1361.6 1.5 4810090 2118097 53.76 Nifty Fmcg 34048.5 0.44 90669
Tata Consultancy Serv Lt 3111.45 0.51 1791671 1003404 51.74 Nifty Bank 32827.8 0.13 90669
Britannia Ind Ltd. 3452.05 0.01 384450 115240 49.22 Nifty Pharma 13747.75 -0.23 90669

UPCOMING ECONOMIC DATA

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

INR:  Deposit Growth on 7th  May, 2021

•USD:  Unemployment Rate (Apr) on 7th May, 2021

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

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NEWS UPDATES

•Tata Consumer Products Ltd., which replaced Gail (India) Ltd. in the benchmark Nifty 50 in its latest semi-annual rejig, saw a fall in quarterly profit and a contraction in margin over the preceding three months as expenses rose. Net profit of Tata Tea and Tata Salt maker declined 44% sequentially to Rs 133.34 crore in the January-March period, according to an exchange filing. That compares with the Rs 186.9-crore consensus estimate of analysts tracked by Bloomberg.

•ArcelorMittal Nippon Steel India (AMNS India) has recorded a 47 per cent higher EBITDA quarter-on-quarter and 188 per cent year-on-year to $403 million for the quarter ended March 31, 2021. Announcing the earnings, which were the best in a decade for ArcelorMittal, the company said that in the Q1 of Calendar 2021, AMNS India achieved solid production, annualising at 7.3 million tonnes (MT). The company achieved $403 million EBITDA (with a FY21 run rate of $1.6 billion) with a greater focus on export markets.

•Shares of Blue Dart Express Ltd touched a high of nearly Rs5,650 apiece in early deals on Thursday on the National Stock Exchange. This represents around 6% increase from the previous day. The reason for the optimism is the company’s better-than-expected March quarter results (Q4FY21). Standalone revenues have increased robustly by 33% year-on-year to Rs966 crore. To some extent, a favourable base helped, considering that revenues had declined by 7% in Q4FY20.

•As the country grapples with the Covid second wave the inflation may raise concerns for the economy, a Morgan Stanley report said. “We expect WPI inflation to have accelerated to 9.1% YoY in April from 7.4% YoY in March, led predominantly by a low base.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ACGL Audited Results;Final Dividend 07-May-21 HDFC A.G.M.;Audited Results;Dividend 07-May-21
BEARDSELL Right Issue of Equity Shares 07-May-21 INDIGO General 07-May-21
CHOLAFIN Audited Results;Final Dividend 07-May-21 INDOCITY Audited Results 07-May-21
DABUR Audited Results;Final Dividend 07-May-21 KANSAINER Audited Results;Dividend 07-May-21
DUNCANENG Audited Results 07-May-21 MADHUVEER General 07-May-21
EIHOTEL Audited Results 07-May-21 NAVINFLUOR Audited Results;Final Dividend 07-May-21
GATI General 07-May-21 RPOWER Audited Results 07-May-21
GESHIP Audited Results;Final Dividend 07-May-21 TANFACIND Audited Results 07-May-21
GLANCE Audited Results;General 07-May-21 TOWASOK General 07-May-21
GODREJAGRO Audited Results;Final Dividend 07-May-21 ULTRACEMCO Audited Results;Dividend 07-May-21
GRINDWELL Audited Results;Dividend 07-May-21 YASTF Audited Results 07-May-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
SEZAL 07-May-21 Resolution Plan -Suspension QUESS 11-May-21 Interim Dividend – Rs. – 7.00
VAIBHAVGBL 07-May-21 Stock  Split From Rs.10/- to Rs.2/- GILLETTE 12-May-21 Special Dividend – Rs. – 50.00
ALKYLAMINE 11-May-21 Stock  Split From Rs.5/- to Rs.2/- NCLIND 12-May-21 Interim Dividend – Rs. – 1.50
LAURUSLABS 11-May-21 Interim Dividend – Rs. – 0.80 OFSS 17-May-21 Interim Dividend – Rs. – 200.00
MAYUKH 11-May-21 Stock  Split From Rs.10/- to Rs.5/- CAPPL 18-May-21 Interim Dividend – Rs. – 1.50
PGHH 11-May-21 Special Dividend – Rs. – 150.00 COFORGE 18-May-21 Interim Dividend – Rs. – 13.00

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