Nifty opened 16225.55 without much of a gap. The index initially moved up but the rally fizz led out quickly and prices have moved down after recording its intraday high at 16262.80. Prices have seen a down move of almost 150 points and then turned up. Prices have rallied and reached the morning highs but again turned downfn0 there wit h more pace. Prices have seen another down move of almost 200 points and recorded its intraday low at 16078.60. The index finally closed at 16125.15 with a loss of 89.55 points or 0.55% down. BANK & FINANCIAL out performed today and closed with gains. The AUTO ended almost flat today. FMCG, METAL,PHARMA, IT, and REALTY underperformed today and closed lower by more than 1%.
The range has appeared after a sustained down move of more than 100 points. So this range may continue fora couple of weeks. The volatility is very high as the volatility index ‘INDIA V IX’ again rose above 25 levels. For stable volatility, it needs to come around 15 -18 levels. summary here is we should avoid trading the index and wait for an adequate setup to emerge.
Bank Nifty opened at 34223.20 with a gap up of just 66 points. The index recorded its intraday low at 34115.80 within the first five minute of trading then moved up but the rally fizzled out quickly. Prices again rallied and recorded its intraday high at 34586.45. The index again turned down and prices came close to its opening tick. Finally, the index closed at 34305.70 with a gain of 148 points. PSU BANKS have underperformed today and ended lower by 0.21%.PVT BANKS have outperformed today and closed on a flat note. Within the index terms of points, HDFC BANK contributed the highest on the upside while AXIS BANK contributed the lowest. We have mentioned that a trading range is now visible inside the support at 33000 and resistance at 35000.We can now narrow it to 33200- 3480 The range is wide enough and likely to remain intact for a couple of weeks.
|TATAMOTOR||425||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 420 and for the target of 435.|
|AXISBANK||664||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 663 with a stop loss of 670 and target of 650.|
|Stock Name||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|DLF||320 PE||BUY||2.80||CMP||0.5||10||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|CIPLA.May 26||970.45||0.1||4.74||7270250||BALRAMCHIN.May 26||390.05||-5.58||3.15||5075200|
|GODREJCP.May 26||763.65||1.46||8.73||4843000||BEL.May 26||231.45||-0.15||0.25||25574000|
|Short Covering||Long Unwinding|
|BAJAJ-AUTO May 26||3791.15||0.01||-47.27||907750||PVR.May 26||1699.45||-6.82||-15.11||1511598|
|TORNTPOWER.May 26||429.7||0.1||-18.62||2746500||DIVISLAB.May 26||3668.55||-6.02||-26.36||1128300|
|BANKNIFTY.May 26||34226.3||0.1||-15.35||1667600||PERSISTENT.May 26||3617.55||-4.51||-15.45||279150|
|UPL.May 26||793.15||0.1||-8.33||15303600||PEL.May 26||1805.7||-4.42||-3.35||2665575|
|GSPL.May 26||265.45||0.13||-16.63||1295400||METROPOLIS.May 26||1689.3||-4.3||-12.47||293400|
Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Icici Bank Ltd.||708.15||-0.41||13779981||0||67.13||Niftybank||34290.15||0.12||15036776|
|Crompton Greaves Consume||336.4||-1.22||516074||0||66.23||Nifty it||28531.5||-1.88||1077752|
|Hdfc Bank Ltd.||1318.95||1.15||6435398||0||65.48||India Vix||25.64||9.57||2.05E+08|
|Infosys Limited||1441||-1.87||5693167||0||64.15||Nifty Fmcg||38010.85||-1.3||524576|
|Kotak Mahindra Bank Limi||1882.6||1.53||3421900||0||63.23||Nifty Realty||392||-1.21||1.31E+09|
|Godrej Cons Products Ltd||762.95||1.38||1175865||0||63.22||Nifty Auto||11116.3||0.01||46324046|
|Navin Fluorine Internati||3717.15||1.15||124229||0||63.06||Nifty Metal||5180.3||-1.17||98683374|
|Tech Mahindra Limited||1098.35||-3.9||3666196||0||62.73||Nifty Media||1947.05||-2.57||2.61E+08|
|Hcl Technologies Ltd.||991.75||-2.61||3418456||0||61.61||Nifty Financial Services||15809.85||0.32||4375280|
UPCOMING ECONOMIC DATA
|INR: FX Reserves, USD on 27th May, 2022
INR: Deposit and Bank Loan Growth on 27th May, 2022
|•USD: Crude Oil Inventories on 25th May 2022
•USD: FOMC Meeting Minutes on 25th may, 2022
India is set to restrict sugar exports as a precautionary measure to safeguard its own food supplies, another act of protectionism after banning wheat sales just over a week ago. The government is planning to cap sugar exports at 10 million tonnes for the marketing year that runs through September, according to a person familiar with the matter. The aim is to ensure there are adequate stockpiles before the next sugar season starts in October, the person said, asking not to be identified as the information is private.
Public sector lender Bank of India’s (BOI) net profit rose by 142.3 per cent to Rs 606 crore in Q4FY22, on improvement in net interest margins. It had posted a net profit of Rs 250 crore in Q4FY21, the bank said in a statement. For FY22, the net profit rose by 57.6 per cent to Rs 3,405 crore from Rs 2,160 crore in FY21.
Life Insurance Corporation of India (LIC) on Tuesday said its board will consider dividend, when it discloses its maiden quarterly results on May 30, Monday. In a filing to BSE, LIC said it will consider and approve the audited financial results, standalone and consolidated, for the quarter and year ended on March 31, 2022, and payment of dividend, if any, on May 30.
The board of Aditya Birla Fashion and Retail (ABFRL) on Tuesday approved raising up to Rs 2,195 crore by way of preferential issuance of equity and warrants to an affiliate of GIC, Singapore’s sovereign wealth fund (GIC), the company said in a statement. GIC will first invest Rs 770 crore towards subscription of equity and warrants, followed by up to Rs 1,425 crore in one or more tranches within 18 months upon exercise of warrants.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|AIAENG||Audited Results;Dividend||25-May-22||MAXINDIA||Audited Results||25-May-22|
|APOLLOHOSP||General;Dividend;Audited Results||25-May-22||MMFL||Audited Results||25-May-22|
|ASAHIINDIA||Dividend;Audited Results||25-May-22||MOIL||Final Dividend;Quarterly Results||25-May-22|
|BATAINDIA||Dividend;Audited Results||25-May-22||NATIONALUM||Audited Results;General||25-May-22|
|BPCL||Final Dividend;Audited Results||25-May-22||NHPC||Audited Results;General;Final Dividend||25-May-22|
|COALINDIA||Audited Results;Final Dividend||25-May-22||PFC||Audited Results;Dividend||25-May-22|
|DEEPAKFERT||Dividend;Audited Results||25-May-22||POLYPLEX||Audited Results;Final Dividend||25-May-22|
|DELTA||Audited Results;General||25-May-22||PRAJIND||Audited Results;Final Dividend||25-May-22|
|EASEMYTRIP||Audited Results||25-May-22||RELIGARE||Audited Results||25-May-22|
|EMAMIPAP||Quarterly Results;Dividend||25-May-22||SEQUENT||Audited Results||25-May-22|
|FDC||General;Quarterly Results||25-May-22||SHALBY||Audited Results;Final Dividend||25-May-22|
|FORTIS||Audited Results||25-May-22||SJVN||Audited Results;Final Dividend||25-May-22|
|GMM||Final Dividend;Bonus issue; Results||25-May-22||SUPRAJIT||Audited Results;Final Dividend||25-May-22|
|HEG||Dividend;Audited Results||25-May-22||SUPREME||Quarterly Results||25-May-22|
|IIFLWAM||Interim Dividend||25-May-22||SUZLON||Quarterly Results||25-May-22|
|INDIGO||Audited Results||25-May-22||TORNTPHARM||Final Dividend;Bonus issue;Results||25-May-22|
|ITI||Results;Preferential Issue of shares||25-May-22||VMART||Audited Results;Dividend||25-May-22|
|MAXHEALTH||Audited Results||25-May-22||WHIRLPOOL||Final Dividend;Quarterly Results||25-May-22|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|BIRET||25-May-22||Income Distribution RITES||TCS||25-May-22||Final Dividend – Rs. – 22.0000|
|GRMOVER||25-May-22||Interim Dividend – Rs. – 0.2500||DAVANGERE||26-May-22||Right Issue of Equity Shares|
|INDIGRID||25-May-22||Income Distribution (InvIT)||INDINFR||26-May-22||Income Distribution (InvIT)|
|QGO||25-May-22||Interim Dividend – Rs. – 0.1000||ITC||26-May-22||Final Dividend – Rs. – 6.2500|
|SBIN||25-May-22||Dividend – Rs. – 7.1000||MOTILALOFS||26-May-22||Buy Back of Shares|
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 www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, email@example.com
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.
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 www.elitewealth.in.
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing firstname.lastname@example.org 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 email@example.com.
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 https://www.elitewealth.in
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: www.elitewealth.in
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:
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;
(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