Morning-Outlook-Feature-Image

morning-outlook-12may

NIFTY:

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:

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.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
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.

DERIVATIVE PICKS

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
Sectors Price Change % Quantity
Whirlpool 1564.55 -0.03 196085 0 82.73 Nifty50 16167.1 -0.45 81804
Infosys Limited 1526.75 -1.69 7846080 0 70.66 Niftybank 34693.15 0.61 81804
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
Nestleind 16512.4 -0.05 61787 0 61.04 Nifty Auto 10377.4 -0.91 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

   Domestic                                                                                                                                                  International
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

NEWS UPDATES

  • 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

BOARD MEETINGS

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

CORPORATE ACTION

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

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