Morning-Outlook-Feature-Image

morning-outlook-17may

NIFTY:

Nifty opened at 15845.10 with a gap up of 63 points. The index first moved down, filled the gap, and recorded its intraday low at 15739.60 within the first five minutes of trading. Prices then rallied for about one hour and recorded its intraday high at 15977.95. The index faces strong resistance there and moved down again to come close around the opening tick. The index moved up again and saw a slow & steady up move towards the end of today’s trading session. Prices have finally closed at 15842.30 with a gain of 60.15  points or 0.38% up. AUTO and REALTY sectors have seen an outperformance today and closed wit h more than 2% gain. IT,FMCG, and PHARMA underperformed today and ended with some loss. We should now look fora trading opportunity in the direction of a breakout. The idea is to buy above 16000 or sell short below 15700.In case of a gap up above 16000 or a gap down below 15700, apply the first 15-minute rules. Keep a stop of 110 points and a target of 240 points from your entry price. Since the volatility is very high, we also recommend traders use the At The Money Options to execute this trade.

BANK NIFTY:

Bank Nifty opened at 33256 wit h a gap up of 170 points. The index first moved down, filled the gap, and recorded its intraday low at 33001.75. Prices then bounced up, saw a sharp intraday rally, and faces strong resistance around 33800. The index recorded its intraday high at 33821.65 and finally closed at 33643.35 wit h a gain of 557 points. PSU BANKS have outperformed today and ended with a gain of 2.91%.PVT BANKS have also moved up today and closed higher by 1.54%. Within the index, in terms of points, HDFC BANK contributed the highest on the upside followed by SBIN.

Tomorrow, we should look for a trading opportunity in the direction of a breakout. The idea here is to buy on a breakout above 34000 or sell short on a breakdown below 33000.In case of a gap, follow the first 15-minute rule. Keep a stop of 300 points and a target of 800 points from your entry price.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
DLF 327 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 324 and for the target of  335.
ASIANPAINT 2999 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 2995 with a stop loss of 3020 and target of 2950.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
TCS 3350 PE BUY 45 CMP 30 80 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
SIEMENS.May 26 2300 0.06 2.71 1472075 HONAUT.May 26 31937.8 -6.12 31.63 11610
SBILIFE.May 26 1046.05 0.11 1.4 7283250 METROPOLIS.May 26 1874.9 -4.88 21.9 435200
WIPRO.May 26 469.1 0.18 1.71 37052000 ABCAPITAL.May 26 95.35 -4.46 9.99 23443200
BRITANNIA.May 26 3287.9 0.19 1.12 1395000 LALPATHLAB.May 26 2140.55 -4.2 25.68 1000250
BPCL.May 26 337.5 0.21 0.77 16857000 NAM-INDIA.May 26 266.5 -3.14 11.96 3220800
                                                                        Short Covering                                                                       Long Unwinding
PVR.May 26 1749.65 0.11 -1.95 2371182 ABB.May 26 2256.05 -1.3 -0.44 335750
PNB.May 26 29.4 0.34 -1.46 2.36E+08 NAVINFLUOR.May 26 3896.45 -0.64 -0.64 382275
AXISBANK.May 26 640.5 0.64 -0.72 60644400 CROMPTON.May 26 351.15 -0.47 -0.06 3485900
PFC.May 26 106 0.76 -1.66 38942200 GLENMARK.May 26 393.05 -0.41 -0.09 6413550
SRF.May 26 2250.15 0.78 -2.11 3825375 HINDCOPPER.May 26 91.7 -0.38 -1.48 13407400

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Ipca Laboratories Ltd. 983.7 0.85 123049 0 70.44 Nifty50 15842.3 0.38 78540
Crompton Greaves Consume 351.85 -0.33 575122 0 69.84 Niftybank 33597.6 1.44 78540
Mah & Mah Ltd. 903.35 1.56 2856221 0 67.42 Nifty it 29403.5 -0.75 78540
Bharti Airtel Limited 693.2 0.48 5412233 0 65.27 India Vix 24.53 4.47 78540
Hdfc Ltd. 2172.1 1.84 1745877 0 65.07 Nifty Fmcg 36759.5 -0.35 78540
Infosys Limited 1489.1 -1.02 6145331 0 63.45 Nifty Pharma 12608.25 -0.17 78540
Petronet Lng Limited 209.95 2.07 1451702 0 61.95 Nifty Realty 394.5 2.61 78540
Kotak Mahindra Bank Limi 1812.85 1.87 3039181 0 61.06 Nifty Auto 10649.1 2.27 78540
Tata Consultancy Serv Lt 3376.8 -1.12 1195813 0 60.61 Nifty Metal 5359.95 0.88 78540
Rec Limited 115.55 1.36 3701858 0 58.3 Nifty Financial Services 15492.85 1.32 78540

 

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: WPI Inflation (YoY) (Apr) on 17th May, 2022 •USD: Retail Sales (MoM) (Apr) on 17th May 2022

•USD: Industrial Production (YoY) (Apr)on 17th May, 2022

NEWS UPDATES

  • The declining risk appetite of investors amid rising rates and inflation continue to play spoilsport across markets. With persistent bears hammering, the prospects of a decent listing of Life India Insurance (LIC) has diminished, as per trends in the grey market. Shares of LIC were trading at a discount of Rs 15-20 a piece over its issue price of Rs 949 in the grey market ahead of its listing on Tuesday, May 17.
  • Holcim will use cash raised from the sale of its Indian business for acquisitions focused on building products and solutions, Chief Executive Jan Jenisch said on Monday, with the cement-maker currently eyeing 10 potential targets. Holcim agreed to sell its Indian business to Adani Group for 6.4 billion Swiss francs ($6.38 billion), its largest divestment in years, as it seeks to lower its carbon profile and raise funds for takeovers.
  • Bharat Forge’s electric vehicle business will become as huge as its overall automobile business by fiscal year 2025, company’s Chairman and Managing Director Baba Kalyani while speaking to CNBC TV18, said Bharat Forge is “setting up a greenfield facility in the US for aluminum components for EVs” The switchover to electric vehicle business will depend on “how fast the EV transition takes place” “In the next four years, by FY2025, EV component and electric vehicle business be as big as overall auto business.
  • Tata Power Solar, the solar energy subsidiary of Tata Power, one of India’s largest integrated power company, said on May 16 that it has received a 300-megawatt solar energy project worth Rs 1,731 crore from state-owned NHPC. Located in Rajasthan, the project will be built under the IREDA’s CPSU scheme.
Source: Economic Times,  Indian Express  ,Business Today, Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ABBOTINDIA Audited Results;Dividend 17-May-22 KAJARIACER Audited Results;Final Dividend 17-May-22
ACRYSIL Final Dividend;Quarterly Results 17-May-22 KIRLFER Audited Results;Final Dividend 17-May-22
BAJAJELEC Audited Results;Dividend 17-May-22 LALPATHLAB Audited Results;Final Dividend 17-May-22
BAJAJHCARE Audited Results;Final Dividend;Results 17-May-22 MINDACORP Audited Results;Final Dividend 17-May-22
BHARTIARTL Audited Results;Dividend 17-May-22 MOTILALOFS Buy Back of Shares 17-May-22
CIL Audited Results 17-May-22 MPSLTD Audited Results;Final Dividend 17-May-22
DLF Audited Results;Dividend 17-May-22 MUTHTFN Audited Results 17-May-22
EASUN Audited Results 17-May-22 NOCIL Audited Results 17-May-22
EIDPARRY Audited Results 17-May-22 NUCLEUS Audited Results;Final Dividend 17-May-22
FAIRCHEMOR Audited Results;Final Dividend 17-May-22 ORIENTBELL Dividend;Quarterly Results 17-May-22
GALAXYSURF Results;Final Dividend;Quarterly Results 17-May-22 PIIND Audited Results;Final Dividend 17-May-22
GMRINFRA Audited Results;Quarterly Results 17-May-22 SAPPHIRE Audited Results 17-May-22
GTLINFRA Audited Results 17-May-22 SPARC Audited Results 17-May-22
INDOCO Audited Results;Final Dividend 17-May-22 STARCEMENT Audited Results;Quarterly Results 17-May-22
IOC Results;Bonus issue;Final Dividend 17-May-22 UDAICEMENT Audited Results;General 17-May-22
IRB Audited Results 17-May-22 ULTRACAB Audited Results;Quarterly Results 17-May-22
JUBLINGREA Audited Results;Final Dividend 17-May-22 ZYDUSWELL Audited Results;Final Dividend 17-May-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
GESHIP* 17-May-22 Interim Dividend – Rs. – 5.40 TANAA 19-May-22 Interim Dividend – Rs. – 2.00
MINDSPACE 17-May-22 Income Distribution RITES THINKINK 19-May-22 Interim Dividend – Rs. – 0.10
AVANTEL 18-May-22 Final Dividend – Rs. – 4.00 KKCL 20-May-22 Interim Dividend – Rs. – 5.00
GARMNTMNTR 18-May-22 Stock  Split From Rs.10/- to Rs.1/- LATIMMETAL 20-May-22 Stock  Split From Rs.10/- to Rs.1/-
JETFREIGHT 19-May-22 Stock  Split From Rs.10/- to Rs.5/- TRENT 20-May-22 Final Dividend – Rs. – 1.10
SINDHUTRAD 19-May-22 Bonus issue 2:1 ANGELONE 23-May-22 Final Dividend – Rs. – 2.2500

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