Morning-Outlook-Feature-Image

NIFTY:

Nifty opened at 16296.60 with a gap up of 122 points. The index faces resistance after the opening, saw a mild decline but found support around 16250.The index recorded its intraday low at 16221.95 and then bounced up. Prices have seen a rally of more than 100 points and recorded its intraday high at 16370.60. Prices then moved down and again moved higher in the last 30 minutes of trading and finally closed at 16352.45 near its day’s high with a gain of 182.30 points or 1.13% up. All the sectoral indices have closed higher except the OIL GAS and METAL IT,MEDIA outperformed today with over 2.5% gains while AUTO,BANK, and FINANCIAL also did well today by ending more than 1% higher.

The index is now trading on the verge of a breakout from 16400 resistance that may come about in the next week. Volatility has also started cooling off as the volatility index INDIA VIX has dipped below 22. We should now wait for prices to close above 16400 to initiate a long trade. The short-term trend is still sideways but the bias is now changing to bullish.

BANK NIFTY:

Bank Nifty opened at 35335. with a gap up of 216 points. The index recorded its intraday low at 35291.95 in its initial trades and moved higher. Prices have been very choppy throughout the day, moved in a very narrow range but saw a steady rally. The index recorded its intraday high at 35694.85 and finally closed at 35617.70 with a gain of 418 points. PVT BANKS have outperformed today, saw a sharp intraday rally, and ended higher by 1.84%. PSU BANKS have also moved up today and closed higher by 0.79%. Within the index, in terms of points, HDFC BANK contributed the highest on the upside while AU BANK contributed the lowest. A pattern of Bullish Head & Shoulder on the daily timeframe confirmed yesterday is giving us a pattern target around 36500 whereas resistance is also visible around 36500 – 37000 zones. The short-term trend is up and we should look for buying only as far as the index is trading above 34800

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
TATAMOTOR 429 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 425 and for the target of  440.
VEDL 307.85 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 307 with a stop loss of 305 and target of 312.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
RELIANCE 2600 CE BUY 81 CMP 65 120 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
WHIRLPOOL.22.06 Jun 1627.25 7.91 1921.43 636750 PEL.22.06 Jun 1648.4 -11.59 288.85 3174875
INDIAMART.22.06 Jun 4501.05 7.57 1135.04 235275 GAIL.22.06 Jun 142.1 -6.2 1261.79 30652500
PAGEIND.22.06 Jun 44526.25 6.79 1729.04 91635 ONGC.22.06 Jun 143.35 -5.5 415.21 37687650
JUBLFOOD.22.06 Jun 517 6.29 2861.27 11660000 TATASTEEL.22.06 Jun 995.25 -5.4 2312.51 35147925
COFORGE.22.06 Jun 3683.2 6.08 708.19 562500 MUTHOOTFIN.22.06 Jun 1095.45 -3.86 10.41 3771375
                                                                        Short Covering                                                                       Long Unwinding
LALPATHLAB.06 Jun 2087.2 7.36 -4.93 1078375
BALRAMCHIN.06 Jun 400 6.48 -5.97 6123200
APOLLOHOSP.06 Jun 3861.75 5.32 -5.73 2192000
IDFCFIRSTB.06 Jun 35.7 3.48 -1.43 2.06E+08
INDUSINDBK.06 Jun 927.9 2.95 -1.95 23838300

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Ipca Laboratories Ltd. 901.15 -1.65 733877 436958 68.38 Nifty50 16352.45 1.13 29351982
Tata Consultancy Serv Lt 3261.3 1.06 3103153 2076287 64.68 Niftybank 35613.3 1.48 13489118
Hcl Technologies Ltd. 1003.9 2.37 2795530 1345961 64.12 Nifty it 28641.6 2.54 1372515
Infosys Limited 1461.35 2.63 8284860 4728826 63.16 Nifty Media 1958.5 2.49 2.46E+08
Kotak Mahindra Bank Limi 1946.2 1.97 2440367 1369021 61.01 Nifty Fmcg 38242.7 1.04 342983
Larsen & Toubro Limited 1600.3 2.29 1279218 481150 60.63 Nifty Auto 11270.25 1.56 42595621
Hindustan Unilever Ltd 2330.6 2.21 1011303 530753 60.28 Nifty Realty 387.85 0.48 1.23E+09
Hdfc Ltd. 2330.4 1.86 2257207 1238370 59.74 Nifty Pharma 12669.95 0.9 37873546
Hdfc Bank Ltd. 1392.05 1.85 12015859 8405082 58.86 Nifty Metal 5211.5 -0.06 91220080
Marico Limited 526.1 -0.76 1375696 698268 58.68 Nifty Financial Services 16476.05 1.51 4729873

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: GDP Quarterly (YoY) (Q4) on 31st May, 2022

INR: Infrastructure Output (YoY) (Apr) on 31st May, 2022

•USD:  CB Consumer Confidence (May) on 31st May 2022

NEWS UPDATES

  • Glenmark Pharmaceuticals on Saturday said its consolidated profit after tax declined 26 per cent to Rs 173 crore for the fourth quarter ended March 31, 2022. The company had reported a profit after tax (PAT) of Rs 234 crore in the January-March period of 2020-21 fiscal.

  • Hinting that Tesla will not put a manufacturing plant in India the carmaker’s Chief Executive Officer (CEO) Elon Musk on Friday tweeted that until the company is first allowed to sell and service imported cars in the South Asian country there will be no setting up of bases. Responding to an individual on Twitter, who questioned Musk vis-a-vis Tesla’s plans to put up a manufacturing plant in India, the billionaire responded.

  • United Spirits Ltd. (USL), India’s largest liquor company, said it will sell about 32 mass-priced brands, including Haywards, Old Tavern, White-Mischief, Honey Bee, Green Label and Romanov, to Singapore headquartered Inbrew for a total cash consideration of Rs 820 crore. The deal includes the entire business of these brands such as related contracts, permits, intellectual property rights, associated employees, and a manufacturing facility.

  • JSW Steel on Friday said that it will be merging its subsidiaries JSW Ispat Special Products (JISPL) Limited and Creixent Special Steels Limited (CSSL) with and into itself leverage synergies between the companies and achieve better efficiency. Shareholders will receive one share of JSW Steel for every 21 shares of JISPL and three shares of JSW Steel for every two shares of Creixent.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BANARISUG Audited Results;Dividend 30-May-22 IOLCP Quarterly Results 30-May-22
MTNL Audited Results 30-May-22 JAYAGROGN Final Dividend;Quarterly Results 30-May-22
INGERRAND Audited Results;Dividend 30-May-22 MARKSANS Audited Results;Final Dividend 30-May-22
JISLJALEQS Quarterly Results 30-May-22 INDOAMIN Audited Results;Final Dividend 30-May-22
JINDALSAW Dividend;Quarterly Results 30-May-22 INDSWFTLTD Audited Results 30-May-22
ZUARIGLOB Audited Results;Final Dividend 30-May-22 SOTL Results;Dividend;Scheme of Arrangement 30-May-22
BBTC Audited Results;Dividend 30-May-22 SUNPHARMA Audited Results;Final Dividend 30-May-22
NCLIND Audited Results;Final Dividend 30-May-22 AUROPHARMA Audited Results;Interim Dividend 30-May-22
FORBESCO Audited Results 30-May-22 NATCOPHARM Audited Results 30-May-22
SVPGLOB Audited Results 30-May-22 PANAMAPET Audited Results;Final Dividend 30-May-22
GRAUWEIL A.G.M.;Audited Results;Final Dividend 30-May-22 AMRAPLIN Audited Results;General 30-May-22
IFBAGRO Audited Results 30-May-22 LIBERTSHOE Audited Results;Quarterly Results 30-May-22
ABANSENT Audited Results 30-May-22 ELECTHERM Audited Results 30-May-22
SUNTECK Audited Results;Final Dividend;General 30-May-22 MIRZAINT Audited Results;General;Quarterly Results 30-May-22
SHIRPUR-G Audited Results 30-May-22 LAOPALA Audited Results;Dividend 30-May-22
NLCINDIA Audited Results;Final Dividend 30-May-22 KOTHARIPRO Audited Results 30-May-22
LOYALTEX Audited Results;Dividend 30-May-22 NRBBEARING Audited Results;Final Dividend 30-May-22
HIMATSEIDE Audited Results;Final Dividend 30-May-22 RAJESHEXPO Audited Results;Dividend 30-May-22
SANGAMIND Audited Results;Final Dividend 30-May-22 ASTAR Audited Results;Final Dividend 30-May-22
HINDADH Audited Results;Quarterly Results 30-May-22 KDDL Audited Results;General 30-May-22
AJANTSOY Audited Results 30-May-22 JINDALSTEL Audited Results;Final Dividend 30-May-22
RICOAUTO Audited Results;Dividend 30-May-22 WOCKPHARMA Audited Results;General 30-May-22
MUNJALSHOW Audited Results;Dividend 30-May-22 GEPIL Audited Results;Dividend;Quarterly Results 30-May-22
TRIDENT Issue Of Warrants;General;Results 30-May-22 BCG Audited Results;Final Dividend 30-May-22
MAYURUNIQ Audited Results;Final Dividend 30-May-22 BLIL Final Dividend;Results;Voluntary Delisting 30-May-22
DCMSRMIND Final Dividend;Quarterly Results 30-May-22 RADICO Audited Results;Final Dividend 30-May-22
MAWANASUG Audited Results;Dividend 30-May-22 NECLIFE A.G.M.;Audited Results;General 30-May-22
SIMPLEXINF Audited Results 30-May-22 MCLEODRUSS Audited Results 30-May-22
Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BASML Audited Results;Final Dividend 30-May-22 NBCC Audited Results;Final Dividend 30-May-22
JAGRAN Audited Results 30-May-22 PCJEWELLER Audited Results 30-May-22
SADBHAV Audited Results;General 30-May-22 JPOLYINVST Audited Results 30-May-22
KAMDHENU Audited Results;Dividend;General 30-May-22 MONTECARLO Audited Results;Final Dividend 30-May-22
GAYAPROJ Audited Results;Quarterly Results 30-May-22 GRNLAMIND Audited Results;Final Dividend 30-May-22
FIEMIND Audited Results;Final Dividend 30-May-22 RAMASTEEL Audited Results 30-May-22
PARSVNATH Audited Results 30-May-22 COFFEEDAY Audited Results 30-May-22
DAAWAT Audited Results 30-May-22 LUXIND Audited Results 30-May-22
AHLUCONT Audited Results;Dividend 30-May-22 DBL Audited Results;Final Dividend;General 30-May-22
SMSPHARMA Final Dividend;General;Quarterly Results 30-May-22 DIXON Audited Results;Final Dividend 30-May-22
DISHTV Audited Results 30-May-22 VARROC Audited Results 30-May-22
SRHHYPOLTD Audited Results;Final Dividend 30-May-22 TECHNOE Audited Results;Dividend;Quarterly Results 30-May-22
V2RETAIL Audited Results 30-May-22 RVNL Audited Results;Final Dividend 30-May-22
JKIL Audited Results;Dividend 30-May-22 IRCTC Audited Results;Final Dividend 30-May-22
KNRCON Audited Results;Final Dividend 30-May-22 MAZDOCK Audited Results 30-May-22
TWL Audited Results 30-May-22 STOVEKRAFT Audited Results 30-May-22
KIRIINDUS Audited Results 30-May-22 MEDPLUS Audited Results 30-May-22
JUBLFOOD Audited Results;Final Dividend 30-May-22 TIDEWATER Audited Results;Final Dividend 30-May-22
KRITINUT Audited Results;Final Dividend 30-May-22 MAITHANALL Audited Results;Dividend;Quarterly Results 30-May-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
JSWENERGY 30-May-22 Dividend – Rs. – 2.00 INFY 31-May-22 Final Dividend – Rs. – 16.00
SIL 30-May-22 Interim Dividend – Rs. – 1.7500 PGINVIT 31-May-22 Income Distribution (InvIT)
HDFC 31-May-22 Dividend – Rs. – 30.00 ADVANIHOTR 01-Jun-22 Interim Dividend – Rs. – 1.40
HDFCLIFE 31-May-22 Final Dividend – Rs. – 1.70 DATAINFRA 01-Jun-22 Income Distribution (InvIT)

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