Morning-outlook-18 may


Nifty opened at 15912.60 with a gap up of 70 points. The index recorded its intraday low at 15900.80 a few ticks below the opening price and moved higher. Prices have seen a strong intraday rally today throughout the day. Minor dips in between were quickly bought into and prices kept on moving higher. The index recorded its intraday high at 16284.25 and finally closed at 16259.30 near its day highs with a gain of 417 points or 2.63% up. All the sectoral indices have participated on the upside today and closed with gains. METAL outshine wit h a gain of 6.86%.Except for PHARMA, all the sectoral indices have ended with a gain of more than 2%.

Yesterday, we have mentioned a DOJI pattern on the daily chart which shows indecision in the minds of the market participants. That confusion resolved on the upside. Support is visible around the 15700 – 1750 zone while resistance may emerge around 16500. The short-term trend is sideways now which was down before. We should look for buying only as far as the index is moving above 16000 levels. The volatility index INDIA VIX has seen a sharp dip today indicates volatility is now cooling off.


Bank Nifty opened at 33796.20 with a gap up of 153 points. The index first moved down, but find support quickly and bounced up. Prices have recorded its intraday low at 33680.60 and rallied very sharply. Minor dips in between were quickly bought into and the index kept on moving higher to record its intraday high at 34366.05. Prices have finally closed at 34346.75 with a gain of 703 points. PVT and PSU BANKS both have performed almost the same today, saw a sharp intraday rally, and closed higher by 2.14% & 2.02% respectively. Within the index, in terms of points, ICIC IBANK contributed the highest on the upside followed by SBIN.

The index opened higher and breaks above 34000 during the day. We took a long trade there. Prices did not meet t he suggested stop or target today so this trade remained intact. Stay long with a stop at 33950 and a target of 34800


ADANIENT 2184 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 2160 and for the target of  2220.
LALPATHLAB 2184 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 2180 with a stop loss of 2200 and target of 2140.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
ASIANPAINT 3080 CE BUY 38 CMP 25 60 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
COLPAL.May 26 1577.85 0.06 2.94 2854950 AUROPHARMA.May 26 536.6 -2.86 2.44 14757750
TATACONSUM.May 26 737.95 0.12 6.02 7937325 DALBHARAT.May 26 1418.35 -1.51 3.78 1269250
JKCEMENT.May 26 2395.1 0.19 4.23 254450 LALPATHLAB.May 26 2117 -1.39 10.61 1067125
ICICIPRULI.May 26 503.45 0.38 4.53 5739750 METROPOLIS.May 26 1868.15 -0.48 10.56 469200
NESTLEIND.May 26 16365.25 0.64 5.25 351950 PAGEIND.May 26 42249.95 -0.28 5.19 90645
                                                                        Short Covering                                                                       Long Unwinding
IPCALAB.May 26 987.2 0.66 -0.66 749700 LTTS.May 26 3676 7.93 -1.51 1028200
ACC.May 26 2219 0.79 -0.93 2512500 MINDTREE.May 26 3083.35 4.75 -0.7 2484800
HDFCLIFE.May 26 555.05 0.9 -0.27 21376300 MANAPPURAM.May 26 105.8 4.65 -0.6 24549000
HDFC.May 26 2193.6 0.97 -0.63 13062900 NMDC.May 26 143.95 4.35 -0.9 48441000
MGL.May 26 768.7 1.07 -0.67 2749200 WIPRO.May 26 488.15 4.27 -0.49 35196000

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Infosys Limited 1519.45 2.04 6406965 0 64.49 Nifty50 16271.1 2.71 70497
Icici Prudential Life In 502 0.34 1205051 0 63.34 Niftybank 34304.75 2.1 70497
Bharti Airtel Limited 706.8 1.96 4735589 0 59.65 Nifty it 30266.85 2.94 70497
Tata Consultancy Serv Lt 3465 2.61 1721076 0 58.37 India Vix 22.64 -7.72 70494
Hindustan Unilever Ltd 2245.05 1.25 2020417 0 57.99 Nifty Fmcg 37536.5 2.11 70497
Marico Limited 502.85 1.46 1258498 0 55.68 Nifty Pharma 12748.25 1.11 70497
Icici Lombard General In 1313.2 1.18 460349 0 55.5 Nifty Realty 402.3 1.98 70497
Power Grid Corporation o 239 1.62 11310832 0 55.4 Nifty Auto 10906.2 2.41 70497
Larsen & Toubro Limited 1605.85 4.08 1580906 0 53.97 Nifty Metal 5729.4 6.89 70497
Alkem 2898.25 -0.28 47831 0 53.38 Nifty Financial Services 15814.1 2.07 70497


   Domestic                                                                                                                                                  International
INR: RBI MPC Meeting Minutes on 18th May, 2022 •USD: Building Permits (Apr) on 18th May 2022

•USD: Crude Oil Inventories on 18th May, 2022


  • Bharti Airtel on Tuesday reported 164% increase in consolidated net profit at Rs 2,008 crore for the quarter ending March 31, 2022, It reported consolidated net profit of Rs 760 crore in the year-ago period. Consolidated revenue from operations rose 22% to Rs 31,500 crore in Q4FY22 as against Rs 25,747 crore in Q4FY21. On Tuesday, the company’s scrip on BSE closed nearly 2% higher at Rs 706. The company’s Board has recommended a dividend of Rs 3 per fully paid-up equity share of face value Rs 5 each.

  • Bajaj Electricals on Tuesday reported a 28.73 per cent decline in consolidated net profit at Rs 38.67 crore for the fourth quarter ended March 2022. The company had posted a net profit of Rs 54.26 crore for March quarter of the previous fiscal year, Bajaj Electricals said in a regulatory filing. However, total revenue from operations was up 6.02 per cent at Rs 1,334.32 crore during the quarter under review as against Rs 1,258.47 crore in the year-ago period.

  • Maruti Suzuki India (MSI) on Tuesday said its shareholders have approved the appointment of Hisashi Takeuchi as Managing Director and CEO. In a regulatory filing, the auto major said 99.89 per cent of votes polled through a postal ballot were in favour of the appointment of Takeuchi as MD and CEO.

  • Indian air conditioner manufacturers are expecting record sales this year as a heatwave scorches most of the country, an industry body told Reuters, but delayed arrivals of components from COVID-hit China may cause shortages of premium products. With temperatures this month breaching 49 degrees Celsius in New Delhi, sales are set to reach 8.5-9 million units this year, up from 2019’s previous record of 6.5 million

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


Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ABFRL Audited Results 18-May-22 KCP Final Dividend;Audited Results 18-May-22
ARVIND Audited Results;Final Dividend 18-May-22 LICHSGFIN Audited Results;Dividend;General 18-May-22
AURIONPRO Quarterly Results;Dividend 18-May-22 LUPIN Audited Results;Final Dividend;General 18-May-22
BARBEQUE Audited Results 18-May-22 MANAPPURAM Interim Dividend;Dividend;Audited Results 18-May-22
CANTABIL Audited Results 18-May-22 NDTV Audited Results 18-May-22
CIGNITI Buy Back of Shares 18-May-22 NXTDIGITAL Audited Results;Dividend 18-May-22
FINOLEXIND Final Dividend;Audited Results 18-May-22 PANACEABIO Quarterly Results;Audited Results 18-May-22
GICHSGFIN Final Dividend;Audited Results;General 18-May-22 PIDILITIND Dividend;Audited Results 18-May-22
GLANCE Audited Results;General 18-May-22 RATNAMANI Right;Bonus;Dividend;Pref Issue ;Results 18-May-22
GRANULES Final Dividend;Audited Results 18-May-22 RBL Dividend;Audited Results 18-May-22
GTL Audited Results 18-May-22 ROUTE Final Dividend;Audited Results 18-May-22
HKG Audited Results;General 18-May-22 SHYAMMETL Final Dividend;Audited Results 18-May-22
IGL Final Dividend;Audited Results 18-May-22 SOMANYCERA Audited Results;General 18-May-22
IOB Audited Results 18-May-22 SURJIND Audited Results;General 18-May-22
ITC Final Dividend;Audited Results 18-May-22 TEAMLEASE Audited Results 18-May-22
JETINFRA Audited Results 18-May-22 TNPL Final Dividend;A.G.M.;Audited Results 18-May-22
JKLAKSHMI Final Dividend;Audited Results 18-May-22 WESTLIFE Audited Results 18-May-22


Company Name Ex-Date Purpose Company Name Ex-Date Purpose
AVANTEL 18-May-22 Final Dividend – Rs. – 4.0000 TIPSINDLTD 19-May-22 Spin Off
GARMNTMNTR 18-May-22 Stock  Split From Rs.10/- to Rs.1/- KKCL 20-May-22 Interim Dividend – Rs. – 5.0000
JETFREIGHT 19-May-22 Stock  Split From Rs.10/- to Rs.5/- LATIMMETAL 20-May-22 Stock  Split From Rs.10/- to Rs.1/-
SINDHUTRAD 19-May-22 Bonus issue 2:1 TRENT 20-May-22 Final Dividend – Rs. – 1.1000
TANAA 19-May-22 Interim Dividend – Rs. – 2.0000 ANGELONE 23-May-22 Final Dividend – Rs. – 2.2500
THINKINK 19-May-22 Interim Dividend – Rs. – 0.1000 CAPPL 23-May-22 Interim Dividend – Rs. – 2.0000

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 Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited,
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.
Research Excerpts
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
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting, or emailing 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
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
Other Disclosures
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:
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:
1. Reports
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;
2. Compensation
(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