Nifty opened at 16270.05 with a gap up of just 30 points. The index inched further higher in its initial trades and recorded its intraday high at 16318.75 within the first 15 minutes of trading. Prices have found strong resistance there and started drifting downwards. The index erases all the gains, filled the gap, and recorded its intraday low at 15992.60 a few ticks below 16000.Prices have seen a sharp rally of more than 200 points towards the end of today’s trading session and finally closed at 16167.10 with a loss of 72.95 points or 0.45% down. BANK, FINANCIAL, and REALTY outperformed today and closed wit h gains. META L and OIL GAS ended on a flat note. The IT led the bears today and ended with more than a 1% loss.
It’s been more than 6 months and we can clearly see a bearish pattern of lower high and lower low. The distribution will end if NIFTY did not go below the previous swing low at 15671.45 VOLATILITY is also very high as the INOIA V IX again rose today. Support is now visible around 16000 while resistance may emerge inside 16400 -16500 zones. We should avoid trading the index and wait for a clear sense of direction.
Bank Nifty opened at 34691.50 with a gap up of 273 points. The index initially moved lower, filled the gap, and moved further lower to record its intraday low at 34143.20.The index found support there and bounced up. A rally brought prices to its intraday high at 34793.20 and the in finally closed at 34716.25 with a gain of 298 points. PSU BANKS have underperformed today and closed lower by 0.53%. PVT BANKS have outperformed today and ended wit h a gain of 0.5 3%. Within index, in terms of points, AX IS BANK contributed the highest while FEDERAL BANK contributed the lowest. The index is outperforming the whole market for the past few trading days. Tomorrow is the weekly F&O Expiry Day so we can assume that the ongoing high volatility should continue tomorrow also. A trading opportunity shot emerge after tomorrow or in the next week. Till then avoid trading the index.
|SIEMENS||2317||BUY||The stock is on the verge of giving the breakout on the intraday as well as the daily chart. The stock can be buy with a stop loss of 2300 and for the target of 2350.|
|IOC||120.45||SELL||The immediate trend of the script is bearish. There is a negative cross over of moving averages as well as of the indicators therefore it can be sell below 120 with a stop loss of 122 and target of 116.|
|Stock Name||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|GNFC||700 PE||BUY||25||CMP||18||40||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|MCX.May 26||1201.9||0||0.89||2631650||IBULHSGFIN.May 26||110.6||-21.06||21.22||45982300|
|PETRONET.May 26||213.5||0.02||2.29||14580000||GNFC.May 26||717||-12.57||15.95||4686500|
|IPCALAB.May 26||971.55||0.06||3.56||773100||CANFINHOME.May 26||483.5||-4.19||11.97||4014075|
|DIVISLAB.May 26||4302.65||0.07||0.61||2112600||SYNGENE.May 26||545.45||-3.91||10.62||1168750|
|HEROMOTOCO.May 26||2480||0.08||1.12||3171900||MOTHERSUMI.May 26||117.2||-3.74||3.08||33376000|
|Short Covering||Long Unwinding|
|VOLTAS.May 26||979.25||0.03||-2.48||3828500||RBLBANK.May 26||108.8||-4.06||-0.27||45979500|
|SAIL.May 26||84.25||0.12||-0.67||1.29E+08||PERSISTENT.May 26||3850.35||-2.84||-4.02||440850|
|ESCORTS.May 26||1590.75||0.43||-0.22||3463900||LICHSGFIN.May 26||340.05||-2.4||-0.98||21518000|
|ABFRL.May 26||259.25||0.52||-0.22||9531600||STAR.May 26||275.4||-2.34||-0.12||4386600|
|HDFCBANK.May 26||1337.95||0.75||-0.67||83189150||IEX.May 26||193||-2.1||-0.47||47546250|
Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Tata Consultancy Serv Lt||3412||-0.78||1841769||0||68.82||Nifty it||30050.25||-1.24||81804|
|Wipro Ltd||471.9||-1.2||10514671||0||65.84||India Vix||22.8||2.24||81804|
|Tech Mahindra Limited||1224.45||-1.44||3244609||0||64.08||Nifty Fmcg||36658.4||-0.69||81807|
|Astral Limited||1832.35||-0.94||366615||0||62.48||Nifty Pharma||12557.65||-0.31||81807|
|Petronet Lng Limited||213.4||-0.28||1909473||0||61.7||Nifty Realty||393.95||0.73||81807|
|Hdfc Ltd.||2219.1||0.81||3499620||0||60.85||Nifty Metal||5634.15||0.01||81807|
|Container Corp Of India||605.65||-0.99||823252||0||60.81||Nifty Financial Services||15974.7||0.28||81807|
UPCOMING ECONOMIC DATA
|INR: CPI (YoY) (Apr) on 12th May, 2022
INR: Industrial Production (YoY) (Mar) on 12th may, 2022
|•USD: PPI (MoM) (Apr) on 12th May 2022
•USD: Initial Jobless Claims on 12th May, 2022
- The capital expenditure of tyre makers is expected to increase to around Rs 5,000 crore this fiscal on the back of improving demand, as against around Rs 3,700 crore annually in the preceding two fiscals, according to a CRISIL report. The demand is likely to be driven by segments such as replacement, commercial and passenger vehicles (CVs and PVs), along with exports, the credit ratings agency said, adding that credit profiles of tyre makers are expected to remain “stable”.
- Tata Motors on Wednesday expanded its electric vehicle range in the country with the launch of Nexon EV MAX, priced between Rs 17.74-19.24 lakh (ex-showroom). Equipped with a 40.5 kWh lithium-ion battery pack, the Nexon EV Max offers 33 per cent higher battery capacity than the Nexon EV, delivering ARAI certified range of 437 km (under standard testing conditions), ensuring uninterrupted inter-city travel. ARAI refers to Automotive Research Association of India.
- Aditya Birla group’s Novelis today announced it will invest $2.5 billion to build a new low-carbon recycling and rolling plant in Bay Minette, Alabama, USA. The highly advanced facility by Hindalco subsidiary will have an initial 600 kilotonnes of finished aluminum goods capacity per year.
- Morgan Stanley has lowered its forecasts for India’s economic growth in the next two fiscal years, saying a global slowdown, surging oil prices and weak domestic demand would take a toll on Asia’s third-largest economy. Gross domestic product growth will be 7.6% for fiscal 2023 and 6.7% for fiscal 2024, 30 basis points lower than the previous estimates, the brokerage said in a note dated Tuesday.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|ABCAPITAL||Audited Results||12-May-22||MATRIMONY||Buy Back of Shares;Results;Final Dividend||12-May-22|
|ANURAS||Audited Results;Final Dividend||12-May-22||MINDSPACE||Dividend;Quarterly Results||12-May-22|
|APOLLOTYRE||Dividend;Audited Results;General||12-May-22||NACLIND||Final Dividend;Quarterly Results||12-May-22|
|AVANTI||Dividend;Audited Results||12-May-22||NITINSPIN||Dividend;Audited Results||12-May-22|
|BRIGADE||Audited Results;Final Dividend||12-May-22||ORCHIDPHAR||Audited Results||12-May-22|
|COFORGE||Interim Dividend;Audited Results||12-May-22||POONAWALLA||Audited Results;Final Dividend||12-May-22|
|CREDITACC||Audited Results||12-May-22||PTL||Dividend;Audited Results||12-May-22|
|GENUSPOWER||Audited Results||12-May-22||RBLBANK||Audited Results||12-May-22|
|GLOSTERLTD||Dividend;Audited Results||12-May-22||SIEMENS||Quarterly Results||12-May-22|
|GREAVESCOT||Audited Results;Final Dividend||12-May-22||SOUTHBANK||Audited Results||12-May-22|
|GSPL||Dividend;Audited Results||12-May-22||SPENCER||Audited Results||12-May-22|
|ICRA||Dividend;Audited Results||12-May-22||TATAMOTORS||Audited Results;Quarterly Results||12-May-22|
|J&KBANK||Audited Results;Quarterly Results||12-May-22||TVTODAY||Audited Results;Final Dividend||12-May-22|
|JMCPROJECT||Audited Results;General;Final Dividend||12-May-22||UJJIVANSFB||Audited Results||12-May-22|
|KICL||Audited Results||12-May-22||VARDHMAN||Audited Results||12-May-22|
|KSL||Dividend;Audited Results||12-May-22||VIMTALABS||Dividend;Audited Results||12-May-22|
|LT||Audited Results;Final Dividend||12-May-22||WATERBASE||Dividend;Quarterly Results||12-May-22|
|LUMAXTECH||Audited Results;General;Final Dividend||12-May-22||WINDLAS||Audited Results||12-May-22|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|COASTCORP||12-May-22||Interim Dividend – Rs. – 2.0000||KPIGREEN||12-May-22||Interim Dividend – Rs. – 2.1000|
|DYNPRO||12-May-22||Right Issue of Equity Shares||PGHL||12-May-22||Interim Dividend – Rs. – 41.0000|
|HDFCBANK||12-May-22||Final Dividend – Rs. – 15.5000||SINCLAIR||12-May-22||Buy Back of Shares|
|INDIANCARD||12-May-22||Special Dividend – Rs. – 25.0000||VIKRAMTH||12-May-22||Bonus issue 4:1|
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)
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, firstname.lastname@example.org
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.
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.
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing email@example.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 firstname.lastname@example.org.
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
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, 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 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:
a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL 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 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;
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL 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 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 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 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