Morning-Outlook-Feature-Image

morning-outlook-2may

NIFTY:

Nifty opened at 17329.25 with a gap up of 84 points. The index first moved down, filled the gap, found support there, and then started an upside move. The rally was slow and steady and prices have kept on moving higher to record its intraday high at 17377.65. The index faces strong resistance there and is turned down. A sharp decline brought prices to its intraday low at 17053.25 towards the end of today’s trading session and the index finally closed at 17102.55 wit h a loss of 142.50 points or 0.83% down. All the sectoral indices have participated in today’s decline. MEDIA and OIL GAS led the bears today by ending more than 2% lower followed by the AUTO and REALTY which ended 1% lower.

NIF1Y has been oscillating in a broader range for the last two weeks and there’s no clarity over the next directional move yet. The range is moderately narrow with support around 17000 and resistance around 17500.The short-term trend is sideways and prices have been very volatile for the whole week with one day up and one day down movement. Our bias is still sideways and we are suggesting waiting for a decisive break from the range.

BANK NIFTY:

Bank Nifty opened at 36474.05 with a gap up of just 50 points. The index first moved down, found support, and then started an upside move. Prices have recorded its intraday high at 36718.80 and then turned down. A sharp intraday decline brought prices to its intraday low at 35978.95 and the index finally closed at 36063.75 with a loss of 361points.
PSU BANKS have led the bears today and closed wit h a loss of 1.67%. PVT BANKS have also seen a down move today and ended lower with a loss of

0.83%.Within the index, in terms of points, HDFC BANK contributed the highest while AXIS BANK contributed the lowest.

The short-term trend is still sideways. We have mentioned a narrow trading range inside the 35800 – 37000 zone. Prices have remained inside this range and now trading near the lower end of this range.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
IEX 214 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 211 and for the target of 220.
IGL 352 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 with a stop loss of 355 and target of 345.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
AXISBANK 720 PE BUY 21 CMP 15 35 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
CIPLA.May 26 983.75 0.01 1216.93 8140600 GUJGASLTD.May 26 475.45 -7.08 2784.11 3857500
ASIANPAINT.May 26 3243.45 0.04 3721.84 5039100 IGL.May 26 349.65 -6.87 2252.28 14166625
IEX.May 26 215.1 0.05 2042.96 46770000 MGL.May 26 769.85 -6.64 3489.31 2821200
GLENMARK.May 26 440.3 0.09 4659.13 6293950 CANFINHOME.May 26 594.45 -6.23 1413.82 3202875
CUMMINSIND.May 26 1032.1 0.12 571.79 1443000 AXISBANK.May 26 730.8 -6.22 6226.3 56860800
                                                                        Short Covering                                                                       Long Unwinding
MIDCPNIFTYW.May 02 7372.7 -2.73 -50 75

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Shriram Trans Fin Co. Lt 1202.05 5.28 6130269 1812793 72.42 Nifty50 17102.55 -0.83 40232499
Hdfc Bank Ltd. 1384.6 0.97 14200738 8454095 71.11 Niftybank 36088.15 -0.92 19072148
Infosys Limited 1567.55 -0.95 9831395 6913315 70.76 Nifty it 31622.4 -0.91 1476798
Bharti Airtel Limited 739 -1.12 7219115 4462879 70.38 India Vix 19.42 0.21 3.56E+08
Honeywell Auto India Ltd 40117.15 -2.32 5440 2334 69.99 Nifty Fmcg 38204.15 -0.67 683463
Hdfc Life Insurance Comp 582.4 1.93 8916828 3305638 69.64 Nifty Pharma 13462.85 -0.13 51154352
Petronet Lng Limited 203.9 -1.92 5014029 3895591 69.32 Nifty Realty 443.75 -1.19 1.55E+09
Hdfc Ltd. 2229.7 0.26 5492816 3468691 68.89 Nifty Auto 11078.1 -1.02 62069086
Hindalco Ind Ltd. 482.65 -1.22 12462169 6186703 67.69 Nifty Metal 6327.3 -0.55 1.09E+08
Itc Ltd. 259.55 -0.59 20419904 13489071 66.88 Nifty Financial Services 16636.55 -0.46 7289657

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Nikkei Markit Manufacturing PMI (Apr) on 2nd April, 2022

INR: Federal Fiscal Deficit (Mar) on 2nd May, 2022

•USD:  ISM Manufacturing PMI (Apr) on 2nd May 2022

NEWS UPDATES

  • Wipro, India’s fourth largest software company, has reported a 3.9% year on-year rise in March quarter net profit, ahead of analyst estimates, but operating margins were under pressure as attrition rose. The Bengaluru-based company forecast a 1-3% growth for its IT services business for the ongoing quarter which began in April, and double-digit growth during FY23. It also estimated operating margin in the 17-17.5% range in the medium term.

  • India’s core sector growth slowed to 4.3% in March after it grew 6.0% in February 2022, data released by the commerce and industry ministry showed on Friday. The cumulative growth rate of Index of Eight Core Industries (ICI) stood at 10.4% during April-March 2021-22 compared to the same year in the previous fiscal.

  • Ambuja Cements Ltd, part of Swiss building material major Holcim group, plans to increase cement capacities and move closer to its target of 50 million tonnes per annum in the near future. “Ambuja has ambitious growth plans to increase cement capacities. The company is well-positioned to meet the expanding demand, and has commissioned a modern green cement plant at Marwar,” Ambuja Cements Ltd (ACL) said at its 39th Annual General Meeting, which was held virtually.

  • Maruti Suzuki India Ltd.’s fourth-quarter profit rose, beating estimates, aided by improved demand, higher volumes, cost cuts and price hikes. Net profit for India’s largest carmaker jumped 57.7% year-on-year to Rs 1,839 crore in the quarter ended March, according to an exchange filing. That compares with the Rs 1,482.1-crore consensus estimate of analysts tracked by Bloomberg. Revenue was up 11.3% at Rs 26,740 crore, compared with the Rs 26,662-crore estimate.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
APLLTD Audited Results;Dividend;General 02-May-22 JBMA Audited Results;Final Dividend 02-May-22
ASHSI Audited Results 02-May-22 JINDCAP General 02-May-22
ASTEC Final Dividend;Quarterly Results 02-May-22 JONJUA General 02-May-22
AWL Audited Results 02-May-22 JSL Audited Results;Quarterly Results 02-May-22
BRITANNIA Audited Results;Dividend 02-May-22 M&MFIN Audited Results;Dividend 02-May-22
CASTROLIND Quarterly Results 02-May-22 MANCREDIT Final Dividend;Quarterly Results 02-May-22
CGPOWER Audited Results 02-May-22 MHRIL Audited Results 02-May-22
COASTCORP Interim Dividend 02-May-22 MOL Dividend;Quarterly Results 02-May-22
DEVYANI Audited Results 02-May-22 NCLRESE General;Rights Issue 02-May-22
DWARKESH A.G.M.;Audited Results 02-May-22 NGLFINE Final Dividend;General;Quarterly Results 02-May-22
EIHAHOTELS Audited Results 02-May-22 OLECTRA Audited Results;Final Dividend 02-May-22
FIRSTFIN General 02-May-22 PANCHSHEEL Issue Of Warrants;Pref. Issue;Rights Issue 02-May-22
HDFC A.G.M.;Audited Results;Dividend 02-May-22 PROCLB General 02-May-22
IDBI Audited Results 02-May-22 PROFINC Bonus issue 02-May-22
IKFTECH General 02-May-22 SAREGAMA Audited Results 02-May-22
INDOUS General 02-May-22 SHAKTIPUMP Dividend;General;Quarterly Results 02-May-22
INFOMEDIA Audited Results 02-May-22 SURANASOL Audited Results 02-May-22
INOXLEISUR Audited Results;General 02-May-22 UNJHAFOR Audited Results 02-May-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
FOSECOIND 02-May-22 Final Dividend – Rs. – 25.0000 COLPAL 05-May-22 Interim Dividend – Rs. – 21.0000
HAVISHA 02-May-22 E.G.M. SARDAEN 05-May-22 Interim Dividend – Rs. – 7.5000
GATEWAY 04-May-22 Interim Dividend – Rs. – 1.2500 SARDAEN 05-May-22 Buy Back of Shares
SINDHUTRAD 04-May-22 E.G.M. CRISIL 06-May-22 Interim Dividend – Rs. – 7.0000

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