Morning-Outlook-Feature-Image

Morning-outlook-19may

NIFTY:

Nifty opened at 6318.15 wit ha gap up of 59 points. The index rallied further on the upside and then finds resistance around 16400. The index recorded its intraday high at 17399.80.Prices then started a process of consolidation that eventually breaks on the downside. The index recorded its intraday low at 16211.20 and quickly bounced up near its opening price. Prices have again moved down in the last hour of trading and finally closed at 16240.30 near its day lows wit h a loss of just 19 points or 0.12% down. FMCG and PHARMA outperformed today and closed wit ha gain of over 1%.REALTY underperformed today and ended wit h a loss of more than 1.5%. AUTO ended almost flat today. We have mentioned a support zone around 15700 – 15750 and a resistance level around 16500. Our bias is bullish within these levels. We will be buying as far as prices are trading above 16000. Tomorrow, we should look for a buying opportunity on a dip towards 16050 with a stop at 15950 and a target at 16340.

BANK NIFTY:

Bank Nifty opened at 34448.20 with a gap up of 102 points. The index moved further on the upside and then find strong resistance around 34600. Prices have recorded its intraday high at 34655.80 and consolidated there. That consolidation broke on the downside, prices have declined to record its intraday low at 34134.70 and again started consolidation. The index finally closed at 34198.35 with a loss of 148 points. PSU BANKS have underperformed today, saw a sharp intraday decline, and closed lower by 1.50%.PVT BANKS have also moved down but ended with a marginal loss of just 0.17%.Within the index, in terms of points, AXIS BANK contributed the highest on the upside while SBIN contributed the lowest. We are suggesting traders to staying long with a stop at 33950 and a target at 34800. It was a volatile day today in the index where prices have seen sharp moves in both directions and finally ended wit h a loss. The short-term trend is sideways now which was down before.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
PIDILITE 2162 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 2140 and for the target of  2220.
BANKBARODA 99.45 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 99 with a stop loss of 102 and target of 95.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
GNFC 640 CE BUY 21 CMP 15 35 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
INDIACEM.May 26 183.1 0 0.02 12861500 METROPOLIS.May 26 1709 -8.55 26.95 591600
WHIRLPOOL.May 26 1566.05 0.04 6.06 817750 LALPATHLAB.May 26 1981.25 -6.69 10.1 1150125
NAM-INDIA.May 26 276.75 0.05 1.59 2963200 DELTACORP.May 26 226.5 -6.42 18.84 17006200
ATUL.May 26 8412.8 0.06 0.51 162525 IOC.May 26 118.1 -5.1 25 59475000
PFC.May 26 109.5 0.09 0.39 36375400 HINDPETRO.May 26 244.6 -4.77 16.85 14288400
                                                                        Short Covering                                                                       Long Unwinding
INDUSINDBK.May 26 906 0.02 -1.01 23290200 ZEEL.May 26 242.35 -1.72 -0.07 74274000
DIXON.May 26 3492.35 0.1 -0.51 736625 L&TFH.May 26 78.9 -1.62 -0.19 51500404
NATIONALUM.May 26 97.95 0.15 -1.39 51569500 TORNTPOWER.May 26 434.65 -1.61 -3.57 4014000
MCDOWELL-N.May 26 838.25 0.28 -0.15 12236875 IDEA.May 26 9.25 -1.6 -0.92 5.98E+08
IBULHSGFIN.May 26 121.15 0.29 -0.8 34844000 COROMANDEL.May 26 932.95 -1.56 -2.07 1506250

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Crompton Greaves Consume 348.9 -0.21 492988 0 78.08 Nifty50 16240.3 -0.12 75381
Marico Limited 523.75 4.11 2333350 0 73.19 Niftybank 34163.7 -0.4 75381
Power Grid Corporation o 227.9 -4.5 14386093 0 71.94 Nifty it 30077.7 -0.47 75381
Sbi Cards And Payment Se 740.3 1.24 1658675 0 71.73 India Vix 22.3 -1.96 75381
Atul Ltd. 8426.75 0.27 19966 0 70 Nifty Fmcg 37989.05 1.25 75381
Nestleind 16343.6 0.12 96008 0 69.5 Nifty Pharma 12881.55 1.06 75384
Infosys Limited 1509.2 -0.61 6593796 0 66.69 Nifty Realty 395.15 -1.75 75384
Kotak Mahindra Bank Limi 1846.8 0.35 5321782 0 66.13 Nifty Auto 10909.45 -0.02 75384
Hdfc Ltd. 2184.55 -0.27 2472345 0 65.25 Nifty Metal 5708.95 -0.32 75384
Dabur India Ltd. 509.8 1.58 3035188 0 63.69 Nifty Financial Services 15765.9 -0.28 75384

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: FX Reserves, USD on 20th May, 2022

INR: Deposit  and Bank Loan Growth on 20th May, 2022

•USD: Initial Jobless Claims on 19th May 2022

•USD: Philadelphia Fed Manufacturing Index (May) on 19th May, 2022

NEWS UPDATES

  • InterGlobe Aviation Limited (IndiGo) on Wednesday appointed Pieter Elbers as Chief Executive Officer, subject to regulatory approvals, the company said in a stock exchange filing. He will join IndiGo on October 1, 2022. “Elbers succeeds Ronojoy Dutta (71) who has decided to retire on September 30, 2022, after guiding IndiGo through the turbulent Covid period,” the airline said. Commending Dutta’s service, Rahul Bhatia, Managing Director of IndiGo said, “The Board of Directors and I would like to thank Rono for effectively leading our business for almost four years with a steady hand through what has been the most turbulent period in the airline’s history and aviation globally.
  • Sun Pharmaceutical Industries plans to launch a first in class lipid lowering oral drug – Bempedoic Acid – in India that helps to reduce low-density lipo-protein (LDL) cholesterol. The company will launch the drug under the brand name Brillo, it said. Sun Pharma claimed that this drug has a new mechanism of action compared to the currently available lipid lowering agents. “It is indicated for people who have an inherited genetic disorder that causes high cholesterol levels or established heart disease where cholesterol levels remain high, despite lifestyle changes and the use of maximum tolerated dose of statins,” it said.
  • S&P Global Ratings has cut India’s GDP growth forecast for 2022-23 to 7.3% from 7.8% earlier due to rising inflation and the Russia-Ukraine war. For the next fiscal, the growth has been pegged at 6.5%. The Indian economy is estimated to have clocked a GDP growth of 8.9% in FY22. The Group of Ministers (GoM) has agreed to recommend hiking the GST rate on casino, race course and online gaming services to 28 per cent.
Source: Economic Times,  Indian Express  ,Business Today, Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ALKYLAMINE Audited Results;Dividend 19-May-22 GUJCOTEX Audited Results;General 19-May-22
ASHOKLEY Audited Results;Dividend 19-May-22 HINDPETRO Audited Results;Final Dividend 19-May-22
BANARBEADS Audited Results 19-May-22 INFRATRUST Audited Results 19-May-22
BHARATWIRE Audited Results;Quarterly Results 19-May-22 JBFIND Audited Results 19-May-22
BOSCHLTD Audited Results;Dividend 19-May-22 KIMS Audited Results;Dividend 19-May-22
CAMLINFINE Audited Results;General 19-May-22 KIRLOSENG Audited Results;Final Dividend 19-May-22
CHAMBLFERT Audited Results;Final Dividend 19-May-22 MTEDUCARE Audited Results;Quarterly Results;General 19-May-22
CLEDUCATE Audited Results;Buy Back of Shares 19-May-22 ONMOBILE Audited Results;Final Dividend 19-May-22
CONCOR Audited Results;Final Dividend 19-May-22 PRINCEPIPE Audited Results;Final Dividend 19-May-22
DHANBANK Audited Results 19-May-22 RAMCOSYS Audited Results 19-May-22
DRREDDY Audited Results;Final Dividend 19-May-22 ROSSARI Audited Results;Final Dividend 19-May-22
EASYFIN Audited Results 19-May-22 RUBFILA Audited Results;Final Dividend;General 19-May-22
ENDURANCE Results;Quarterly Results;Final Dividend 19-May-22 TITANIN General 19-May-22
EROSMEDIA Increase in Auth. Cap;Issue Of Warrants 19-May-22 TRANSPEK Audited Results 19-May-22
GLAND Audited Results 19-May-22 UCOBANK Final Dividend 19-May-22
GODREJCP Audited Results 19-May-22 UJJIVAN Audited Results 19-May-22
GRAVITA Audited Results 19-May-22 VGUARD Audited Results;Final Dividend 19-May-22

 

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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
TIPSINDLTD 19-May-22 Spin Off COFORGE 23-May-22 Interim Dividend – Rs. – 13.0000
KKCL 20-May-22 Interim Dividend – Rs. – 5.0000 CYIENT 23-May-22 Final Dividend – Rs. – 14.0000

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