Morning-Outlook-Feature-Image

Morning-outlook-23rdmay

NIFTY:

Nifty opened at 16043.80 with a big gap up of 234 points. The index recorded its intraday low at 16003.85, finds strong support there, and handsomely bounced up. The index rallied almost 200 points and then saw a minor correction. That correction finds support soon and prices again turned up. The rally took the index to its intraday high at 16283.05.Prices have finally closed at 16266.15 near its day’s high wit h a gain of 456.75 points or 2.89% up. All the sectoral indices have seen an upside move today and closed higher. MEDIA gained the most ending at 4.47% higher while IT gained the least ending at 1.54% higher. Metal also performed well today and closed 4.20% higher. We have mentioned a support level around 15700 – 15750 in the NIF1Y.The index respected this support and is now heading towards resistance 16500. That gives us a wide trading range of almost 800 points. The volatility is very high as the volatility index ‘INDIA VIX’ is moving around 23 levels. For normal volatility, it needs to come around 15 – 18 levels. The summary here is we should avoid trading the index and wait for an adequate setup to emerge

BANK NIFTY:

Bank Nifty opened 33765.15 with a big gap up of 406 points. The index recorded its intraday low at 33658.05 and moved further on the upside. Prices then consolidate and broke on the downside. The decline finds support quickly and prices again moved up to record its intraday high at 34358.05. The index finally closed at 34311.55 with a gain of 952 points. PSU and PVT BANKS both have performed almost the same today, saw a sharp intraday rally, and closed higher by 3.02% & 2.73% respectively. Within the index, in terms of points, HDFC BANK contributed the highest on the upside followed by the ICICIBANK.

A big gap up opening and then a sharp intraday rally helped BANK NIFTY to recover all the losses that came yesterday. The index ended the week on a positive note. On the weekly timeframe, the index breaks five weeks of a lower closing streak. The short-term trend is sideways. Moreover, a trading range is now visible inside the support at 33000 and resistance at 35000.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
ASIANPAINT 3109 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 3280 and for the target of  3150.
DEEPAKNTR 1964 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 1960 with a stop loss of 1980 and target of 1920.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
BSOFT 380 PE BUY 10 CMP 5 20 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
HDFCAMC.May 26 1710.55 0.33 5.13 3849200 GODREJCP.May 26 758.95 -4.65 0.93 5520000
RAMCOCEM.May 26 684.15 0.43 11.74 2589100 UPL.May 26 810.25 -0.25 0.03 20159100
LTTS.May 26 3535.25 0.96 0.21 871800
TITAN.May 26 2135.75 1.1 0.71 6609375
BATAINDIA.May 26 1758.2 1.22 5.11 1379950
                                                                        Short Covering                                                                       Long Unwinding
BSOFT.May 26 382.85 0.05 -3.23 3001700 CONCOR.May 26 573.1 -5.72 -3.72 6931200
ICICIGI.May 26 1253.8 0.14 -2.13 2984775 HONAUT.May 26 31512.85 -1.61 -1.63 10890
WHIRLPOOL.May 26 1543.2 0.18 -1.64 720750 SHREECEM.May 26 21807.95 -1 -7.26 197625
MPHASIS.May 26 2463.1 0.2 -6.73 1519525 CHAMBLFERT.May 26 396.6 -0.99 -1.74 2286000
M&MFIN.May 26 170.8 0.32 -1.55 23888000 MANAPPURAM.May 26 93.65 -0.85 -1.91 23988000

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Infosys Limited 1455.15 1.96 10488908 7870656 71.42 Nifty50 16266.15 2.89 32689233
Icici Bank Ltd. 709.55 2.79 11695528 7524231 69.51 Niftybank 34276.4 2.88 15512569
Icici Lombard General In 1251.6 0.05 528786 375664 68.42 Nifty it 28789.4 1.54 1388748
Hdfc Ltd. 2201.6 3.06 3954167 2608471 66.87 India Vix 23.1 -5.94 2.22E+08
Honeywell Auto India Ltd 31470.9 -1.67 8905 4575 66.5 Nifty Fmcg 38546.35 2.14 750002
Hcl Technologies Ltd. 1028.85 1.93 2005622 1091119 66.12 Nifty Pharma 13065.5 3.69 40820726
Hdfc Bank Ltd. 1320.95 2.63 6959675 4013046 63.8 Nifty Realty 401.05 4.21 1.33E+09
Tata Consultancy Serv Lt 3293 0.95 3065125 1971441 63.58 Nifty Cpse 2610.9 1.57 2.03E+08
Max Financial Services l 718.4 1.45 267874 135702 62.2 Nifty Auto 10914.6 2.79 48610283
Marico Limited 528.55 3.54 2817153 1744509 61.95 Nifty Financial Services 15793.6 2.57 3979785

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: FX Reserves, USD on 27th May, 2022

INR: Deposit  and Bank Loan Growth on 27th May, 2022

•USD:  New Home Sales (Apr) on 24th May 2022

•USD:  Services PMI (May) on 24th may, 2022

NEWS UPDATES

  • Indraprastha Gas (IGL) plans to invest Rs 8,000 crore over the next five years to expand its city gas network even as it targets a more than 40% increase in sales volumes over the same period, its top executive has said. IGL currently operates in Delhi and adjoining cities and plans to expand its operations to a few districts in Uttar Pradesh, Rajasthan and Haryana. Of the planned Rs 8,000 crore, about Rs 6,000 crore would go towards setting up city gas infra in seven new license areas and the balance into enhancing facilities in the four existing areas

  • Coal production by Coal India (CIL) has grown slower than the captive mines, awarded over the last six years. During 2020-22, production from the captive mines jumped by 38.5 per cent while CIL saw a tepid growth of 3.4 per cent, according to government data.

  • The government is eyeing the second edition of production-linked incentive (PLI) scheme for textiles and has begun consultations with the industry. Industry wants inclusion of knitted fabrics in the scheme, besides manmade fibre and technical textiles and a lower investment threshold of Rs 25 crore instead Rs 100 crore now.

  • Mahindra & Mahindra (M&M) Ltd on Friday said that its new sports utility vehicle codenamed Z101 will be known as ‘Scorpio-N’ and will be launched on June 27. The current Scorpio which has evolved over the last two decades as an iconic and a cult brand will continue as the ‘Scorpio Classic’, the company said in a release.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BEL Final Dividend;Audited Results 23-May-22 REPCOHOME Final Dividend;Quarterly Results 23-May-22
BSOFT Quarterly Results;Buy Back of Shares 23-May-22 ROLEXRINGS Audited Results 23-May-22
CONCRETE Audited Results 23-May-22 RUPA Dividend;Audited Results 23-May-22
DATAPATTNS Audited Results 23-May-22 SAIL Final Dividend;Quarterly Results 23-May-22
DHANUKA Final Dividend;A.G.M. 23-May-22 SAURASHCEM Audited Results 23-May-22
DIVISLAB Dividend;Audited Results 23-May-22 SHILPAMED Dividend;Quarterly Results 23-May-22
DOLLAR Dividend;Audited Results;ESOP 23-May-22 SHREEGANES General;Audited Results 23-May-22
GRAPHITE Dividend;Audited Results 23-May-22 SURYALA Dividend;Quarterly Results 23-May-22
GUJARATPOLY Audited Results 23-May-22 TALBROAUTO Final Dividend;A.G.M.;Audited Results 23-May-22
HGINFRA Final Dividend;Audited Results 23-May-22 TALBROSENG Final Dividend;Audited Results 23-May-22
HLEGLAS General;Dividend;Quarterly Results 23-May-22 THOMASCOOK Pref. Issue ;Audited Results;Results 23-May-22
IGARASHI Audited Results 23-May-22 TTKHEALTH Final Dividend;Audited Results 23-May-22
KSCL Audited Results 23-May-22 UGARSUGAR Final Dividend;Audited Results 23-May-22
MORGAN Audited Results;Quarterly Results 23-May-22 UMAEXPORTS Audited Results 23-May-22
PATELENG Audited Results 23-May-22 VAIBHAVGBL Final Dividend;Audited Results 23-May-22
PICTUREHS Audited Results 23-May-22 VANDANA Audited Results 23-May-22
RAMCOCEM General;Dividend;Audited Results 23-May-22 ZOMATO Audited Results;Quarterly Results 23-May-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ANGELONE 23-May-22 Final Dividend – Rs. – 2.2500 EVEXIA 24-May-22 Stock  Split From Rs.2/- to Rs.1/-
CAPPL 23-May-22 Interim Dividend – Rs. – 2.00 KENNAMET 24-May-22 Interim Dividend – Rs. – 24.00
COFORGE 23-May-22 Interim Dividend – Rs. – 13.00 BIRET 25-May-22 Income Distribution RITES
CYIENT 23-May-22 Final Dividend – Rs. – 14.00 GRMOVER 25-May-22 Interim Dividend – Rs. – 0.2500
DOLATALGO 23-May-22 Interim Dividend – Rs. – 0.2500 INDIGRID 25-May-22 Income Distribution (InvIT)
RISHYRN 23-May-22 E.G.M. QGO 25-May-22 Interim Dividend – Rs. – 0.10

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