Morning-Outlook-Feature-Image

morning-outlook-26may

NIFTY:

Nifty opened at 16196.35 with a gap up of 71 points. The index moved further on the upside, then saw a minor correction, and then again moved up to record its intraday high at 16223.35. Prices have faced strong resistance there and then started moving on the downside. The decline continued for almost the whole day and prices have recorded its intraday low at 16006.95. The index spends the second half moving sideways and saw multiple moves in both directions. The index finally closed at 16025.80 w it h a loss of 99.35 points or 0.62% down. The Financials have out performed today and closed with a gain of more than half a percent. The IT sector has underperformed today and closed lower by more than 3%.

So, this range may continue for a couple of weeks. The volatility is very high as the volatility index ‘INDIA VIX’ is moving above 25 levels. For stable 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 at 34491.80 with a gap up of 186 points. The index rallied further, saw a minor correction, and then again moved up to record its intraday high at 34722.60. Prices have found strong resistance there and turned down. The index erases all the gains, recorded its intraday low at 34285.80, and finally closed at 34313.90 without much of a change. PSU BANKS have underperformed today and ended lower by 2.03%.PVT BANKS have outperformed today and closed higher by 0.27%. Within the index, in terms of points, ICIC IBANK contributed the highest on the upside while SBIN contributed the lowest.

Tomorrow, we should look for a buying opportunity on a breakout above 34800. But if the index moved down then we should sell short on a breakdown below 34100.Keep a stop of 300 points and a target of 800 points from your entry price.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
HDFCBANK 1328 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 1315 and for the target of  1350.
INFY 1410 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 1410 with a stop loss of 1425 and target of 1380.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
HDFC 2240 CE BUY 10 CMP 2 20 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
AXISBANK.May 26 664.85 0.04 6.87 23870400 DELTACORP.May 26 212.05 -8.89 0.89 12263600
INDUSTOWER.May 26 199.25 0.2 3 6048000 ASIANPAINT.May 26 2842.65 -8.02 29.79 2561250
CIPLA.May 26 972.45 0.21 24.3 5040100 LALPATHLAB.May 26 1822.95 -7.47 0.47 428125
BAJFINANCE.May 26 5809.6 0.34 6.45 2405000 BERGEPAINT.May 26 567.05 -6.93 29.17 1967900
BAJAJFINSV.May 26 12420 0.41 2.44 365600 COFORGE.May 26 3460.05 -6.53 3.47 274500
                                                                        Short Covering                                                                       Long Unwinding
HDFCAMC.May 26 1707.5 0.01 -34.33 822000 CHAMBLFERT.May 26 362.45 -9.94 -14.27 1468500
AMBUJACEM.May 26 362.8 0.17 -4.67 20067000 GRANULES.May 26 252.95 -9.71 -6.17 4006750
BANKNIFTY.May 26 34302 0.22 -8.25 1503950 BALRAMCHIN.May 26 356.05 -8.72 -17.73 3208000
CUB.May 26 126.25 0.36 -8.88 4151400 COROMANDEL.May 26 897 -7.78 -8.68 821875
ITC.May 26 266.25 0.36 -7.39 33468800 GNFC.May 26 594.05 -7.73 -10.37 2528500

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Atul Ltd. 8001.45 -0.86 29093 0 77.61 Nifty50 16025.8 -0.62 74430
Whirlpool 1495.8 -2.61 248275 0 73.34 Niftybank 34339.5 0.14 74430
Honeywell Auto India Ltd 30819.25 -1.51 6014 0 70.64 Nifty it 27566.1 -3.38 74430
Hindustan Unilever Ltd 2298.7 -0.47 1884016 0 67.7 India Vix 25.28 -1.4 74430
Icici Bank Ltd. 713.35 0.73 10456962 0 67.46 Nifty Fmcg 37930.95 -0.21 74430
Ntpc Limited 152.65 3.91 19924372 0 66.61 Nifty Pharma 12543.85 -1.16 74430
Infosys Limited 1410.45 -2.12 9629875 0 64.48 Nifty Realty 380.7 -2.88 74430
Hcl Technologies Ltd. 974.45 -1.74 3904226 0 63.78 Nifty Auto 11011.5 -0.94 74430
Power Grid Corporation 224.85 -0.95 8296909 0 63.73 Nifty Metal 5079.25 -1.95 74430
Indus Towers Limited 199.85 0.38 2695521 0 63.25 Nifty Financial Services 15918.1 0.68 74430

UPCOMING ECONOMIC DATA

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

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

•USD:  GDP (QoQ) (Q1) on 26th May 2022

•USD:  Initial Jobless Claims on 26th may, 2022

NEWS UPDATES

  • The Cabinet Committee on Economic Affairs (CCEA) has approved the sale of its remaining 29.5 per cent stake in Hindustan Zinc Ltd (HZL) as the centre looks to accelerate its disinvestment drive with some key privatisation proposals hitting hurdles. The sale of the entire 29.5 per cent stake in HZL would fetch the centre about Rs 38,560 crore at current share market price.

  • InterGlobe Aviation, which operates flights under IndiGo brand, on Wednesday reported that its consolidated loss widened to Rs 1,682 crore for the quarter ending March 31, 2022 as higher fuel costs more than offset a rebound in demand for air travel. It reported consolidated loss of Rs 1,147 crore in the year-ago period when a raging pandemic kept people at home. The company’s consolidated revenue from operations rose 29% to Rs 8,021 crore in Q4FY22 as against Rs 6,223 in Q4FY21.

  • Oil rose after a two-day decline as an industry report showed US gasoline stockpiles shrunk further ahead of the summer driving season and Saudi Arabia said there’s nothing more it can do to tame the market. West Texas Intermediate futures traded near $111 a barrel.

  • Shares of information technology firms fell after Nomura downgraded five stocks in its coverage, citing sooner-than-expected growth slowdown. The brokerage downgraded Tata Consultancy Services Ltd. and L&T Infotech Ltd. from ‘neutral’ to ‘reduce’; Wipro Ltd., HCL Technologies Ltd. and Persistent Systems Ltd. from ‘buy’ to ‘neutral’ based on valuations, it said in a May 24 note.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AARTISURF Audited Results 26-May-22 JBCHEPHARM Audited Results;Final Dividend 26-May-22
ALLCARGO General;Audited Results 26-May-22 JETAIRWAYS Audited Results 26-May-22
ASTRAZEN Audited Results;Final Dividend 26-May-22 MIDHANI Audited Results;Final Dividend 26-May-22
AWHCL Audited Results 26-May-22 MOTHERSUMI Audited Results;Final Dividend 26-May-22
BDL Audited Results;Final Dividend 26-May-22 MUTHOOTFIN Quarterly Results;Audited Results 26-May-22
BERGEPAINT Dividend;Audited Results 26-May-22 NMDC Audited Results 26-May-22
CHEMCON General;Audited Results 26-May-22 OBEROIRLTY Results;Pref. Issue of shares;Final Dividend 26-May-22
COLPAL Audited Results 26-May-22 PAGEIND Interim Dividend;Audited Results 26-May-22
CONTAINER Audited Results 26-May-22 PEL Audited Results;Final Dividend 26-May-22
CUMMINSIND General;Audited Results;Final Dividend 26-May-22 PRESTIGE General;Audited Results;Final Dividend 26-May-22
GOODYEAR Results;Audited Results;Final Dividend 26-May-22 QUESS Audited Results 26-May-22
GSFC Dividend;Audited Results 26-May-22 SHALPAINTS Quarterly Results;Audited Results 26-May-22
HAWKINCOOK Audited Results;Final Dividend 26-May-22 SHREEPUSHK Audited Results;Final Dividend 26-May-22
HBLPOWER Dividend;Audited Results 26-May-22 SHYAMTEL Quarterly Results;Audited Results 26-May-22
HINDALCO Dividend;Audited Results 26-May-22 SUDARSCHEM Audited Results;Final Dividend 26-May-22
HINDCOMPOS Quarterly Results;Final Dividend 26-May-22 UNIONBANK General 26-May-22
IDBI General 26-May-22 UTIAMC General;A.G.M. 26-May-22
INDIAGLYCO Audited Results;Final Dividend 26-May-22 WONDERLA Quarterly Results;Audited Results 26-May-22
INSECTICID Audited Results;Final Dividend 26-May-22 ZEEL Audited Results;Final Dividend 26-May-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
DAVANGERE 26-May-22 Right Issue of Equity Shares VISAKAIND 26-May-22 Final Dividend – Rs. – 8.0000
INDINFR 26-May-22 Income Distribution (InvIT) GUJCMDS 27-May-22 Stock  Split From Rs.10/- to Rs.1/-
ITC 26-May-22 Final Dividend – Rs. – 6.2500 MANAPPURAM 27-May-22 Interim Dividend – Rs. – 0.7500
MOTILALOFS 26-May-22 Buy Back of Shares SAWABUSI 27-May-22 Bonus issue 10:100

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