Morning-Outlook-Feature-Image

NIFTY:

Nifty opened at 16594.40 without much of a gap. The index initially went higher and then quickly faced resistance. Prices have recorded its intraday  high at  16649.20 and turned down. The decline brought prices into negative territory but soon it found strength and moved up again. The rally fizzled out before reaching the early morning highs and then prices started consolidating. The consolidation broke on the downside, prices have seen a sharp decline and recorded its intraday low at 16438.85. The index finally closed at 16522.75 with a loss of 61.80 points or 0.37% down. BANK, Financial and METAL outperformed today and closed with gains. IT,PHARMA, and REALTY underperformed today and ended with a loss of more than 1%.

However, a sharp recovery in the last 30 minutes of trading helped the index to recover some of the losses. The short-term trend is still up and we should look for buying only Strong support is visible around 16350 – 16400 zones while resistance should emerge around 16900 – 17000.

BANK NIFTY:

Bank Nifty opened at 35358.95 without much of a gap. Prices moved higher from the opening and saw a sharp rally of more than 400 points. The index recorded its intraday high at 35768.70 and then turned down. Prices have erased all the gains and recorded its intraday low at 35285.45. Prices again rallied in the last 30 minutes of trading and finally closed at 35679.70 with a gain of 317 points. PSU and PVT BANKS both have performed almost the same today, saw an intraday rally, and closed higher by 0.70% & 0.32% respectively. Within the index, in terms of points, HDFC BANK contributed the highest on the upside while INDUSIND BANK contributed the lowest.

BANK NIFTY outperformed today and ended wit h gains. It was again a volatile day today where the index has seen three moves of almost 400 points, two were up and one was down. The short-term trend is still up and we should look for buying only. Look to buy on a dip at or below 34500 with a stop of 300 points and a target of 800 points.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
HDFCBANK 1394 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 1380 and for the target of  1420.
INFY 1478 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 1475 with a stop loss of 1490 and target of 1460.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
TITAN 2150 PE BUY 58 CMP 50 80 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
L&TFH.22.06 Jun 76.15 0 0.54 48448396 BAJAJ-AUTO.22.06 Jun 3566 -4.49 18.96 2773250
IDFC.22.06 Jun 49.7 0 0.38 1E+08 SYNGENE.22.06 Jun 546.9 -4.43 6.01 974950
RELIANCE.22.06 Jun 2629.3 0.01 1.33 27797250 NATIONALUM.22.06 Jun 92.85 -3.78 8.18 50175500
ASIANPAINT.22.06 Jun 2849.1 0.03 1.61 6357900 APOLLOHOSP.22.06 Jun 3849.2 -3.25 1.4 1855500
ICICIBANK.22.06 Jun 752.7 0.03 1.03 62948875 HINDALCO.22.06 Jun 411.25 -3.1 0.97 38893500
                                                                        Short Covering                                                                       Long Unwinding
IRCTC.22.06 Jun 679.95 0.1 -0.7 12110000 SRF.22.06 Jun 2408.1 -2.35 -0.27 3599250
CUMMINSIND.22 Jun 1019.75 0.24 -1.39 1320600 PVR.22.06 Jun 1814.55 -1.83 -0.04 2082619
TATASTEEL.22.06 Jun 1011.9 0.68 -0.54 31231125 NAUKRI.22.06 Jun 4101 -1.65 -1.5 1609625
BANKNIFTY.22.06 Jun 35759.55 0.69 -4.86 2303900 ESCORTS.22.06 Jun 1605 -1.61 -0.48 2644950
FEDERALBNK.22.06 Jun 89.85 1.01 -2.17 56780000 SBILIFE.22.06 Jun 1155.85 -1.55 -0.69 7611000

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Ambuja Cements Ltd 371.65 0.61 2369871 0 85.57 Nifty50 16522.75 -0.37 86850
Kotak Mahindra Bank Limi 1865.1 0.99 2382627 0 81.66 Niftybank 35620.8 0.38 86850
Icici Prudential Life In 547.9 5.04 3561895 0 77.33 Nifty it 29260.75 -1.41 86850
Godrej Cons Products Ltd 765.8 -0.15 1200347 0 76.2 India Vix 20.85 1.81 86850
Havells India Limited 1191.15 -0.89 1027812 0 76.19 Nifty Fmcg 38434.55 -0.72 86853
Icici Bank Ltd. 752.65 -0.03 10101947 0 75.76 Nifty Pharma 12443.75 -1.27 86853
Tata Consultancy Serv Lt 3355.2 -0.27 1493746 0 75.25 Nifty Realty 407.1 -1.12 86853
Tata Consumer Products l 761.1 0.18 1641721 0 75.04 Nifty Auto 11563 -0.2 86856
Titan Company Limited 2197.6 -0.83 2126005 0 74.33 Nifty Metal 5336.7 0.07 86856
Wipro Ltd 470.75 -1.53 5257192 0 74 Nifty Financial Services 16502.3 0.16 86856

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Nikkei Services PMI (May) on 3rd June, 2022

INR: Bank Deposit and  Loan Growth on 3rd June, 2022

•USD:  Initial Jobless Claims on 2nd June, 2022

•USD:  Crude Oil Inventories on 2nd June, 2022

NEWS UPDATES

  • Goods and services tax (GST) collections slipped below the Rs 1.5 trillion mark in May. India saw gross GST collections of Rs 1.41 trillion during the month. However, the collections in May are 44 per cent higher than the same month in 2021. In April, GST collections had touched a record high of Rs 1.68 trillion, surpassing the Rs 1.5-trillion mark for the first time.

  • Mahindra & Mahindra (M&M) on Wednesday said its total sales stood at 53,726 units in May. The company had reported total sales of 17,447 units in Covid-hit May 2021. “With sales of 26,632 SUVs in May, we continued the growth momentum with all our brands performing well, including XUV700 and Thar,” M&M President (Automotive Division) Veejay Nakra said.

  • The FMCG industry saw decline in volume in the January-March period as consumption was impacted by price increases, especially in the food and essentials categories, said a report by data analytics firm NielsenIQ. Rural India witnessed 5.3 per cent dip in volume in the period.

  • India’s petrol and diesel sales soared in May on the back of a surge in summer travel to escape from the heat and vacation during annual breaks at educational institutions, preliminary industry data showed on Wednesday. Petrol sales by state-owned fuel retailers, which control roughly 90 per cent of the market, at 2.8 million tonnes in May was 55.7 per cent higher than the same period last year when a devastating second COVID-19 wave wreaked havoc on the economy.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AKI Bonus issue;Preferential Issue 02-Jun-22 KOCL General 03-Jun-22
DDIL General 02-Jun-22 MTPL Audited Results 03-Jun-22
VIRTUALG Audited Results 02-Jun-22 OPTOCIRCUI Quarterly Results 03-Jun-22
YESBANK General 02-Jun-22 RELINFRA General 03-Jun-22
ZODIACVEN Audited Results 02-Jun-22 SKC General 03-Jun-22
ASHNI General 03-Jun-22 SUPRAP General 03-Jun-22
ASRL General;Rights Issue 03-Jun-22 UDAYJEW General 03-Jun-22
HDIL Quarterly Results 03-Jun-22 VIVIMEDLAB Audited Results;Quarterly Results 03-Jun-22
INNOVTEC Audited Results 03-Jun-22 DIVSHKT General 04-Jun-22
JMDVL General 03-Jun-22 HIPPOCABS Audited Results;Half Yearly Results 04-Jun-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ASAHISONG 02-Jun-22 Buy Back of Shares TORNTPHARM 03-Jun-22 Final Dividend – Rs. – 8.0000
CASTROLIND 02-Jun-22 Final Dividend – Rs. – 3.0000 TORNTPHARM 03-Jun-22 Special Dividend – Rs. – 15.0000
IMAGICAA 02-Jun-22 E.G.M.  GALLISPAT 06-Jun-22 Amalgamation
KALLAM 02-Jun-22 Right Issue of Equity Shares APCOTEXIND 06-Jun-22 Final Dividend – Rs. – 3.0000
MISHTANN 02-Jun-22 Bonus issue 1:1 AUROPHARMA 06-Jun-22 Interim Dividend – Rs. – 4.5000
PAGEIND 02-Jun-22 Interim Dividend – Rs. – 70.0000 FAZE3Q 06-Jun-22 Interim Dividend – Rs. – 0.5000
ROJL 02-Jun-22 Bonus issue 82:32 INEOSSTYRO 06-Jun-22 Interim Dividend – Rs. – 105.0000
SMAUTO 02-Jun-22 Interim Dividend – Rs. – 1.2500 MMFL 06-Jun-22 Interim Dividend – Rs. – 6.0000
TATACOFFEE 02-Jun-22 Dividend – Rs. – 2.0000 NINSYS 06-Jun-22 Bonus issue 1:2
TATAINVEST 02-Jun-22 Final Dividend – Rs. – 55.0000 RALLIS 06-Jun-22 Final Dividend – Rs. – 3.0000
AYOME 03-Jun-22 E.G.M. VBL 06-Jun-22 Bonus issue 1:2

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