Morning-Outlook-Feature-Image

Morning-outlook-31may

NIFTY:

Nifty opened at 16527.90 with a gap up of 175 points. The index recorded its intraday low at 16506.15 in its initial trades and moved further on the upside. Prices have added another 150 points from the opening tick till afternoon and the index recorded its intraday high at 16695.50.Prices face strong resistance there. The index spent the rest of t he day moving narrow and sideways and finally closed at 16661.40 near its day’s high with a gain of 308.95 points or 1.89%up.Allthe sectoral indices have closed higher today. REALT,IT and MEDIA outperformed today and ended with a gain of more than 3%.The PHARMA underperformed today.

Resistance should emerge around 16800 – 16900 zones. Volatility has also started cooling off as the volatility index INOIA VIX has dipped below 20 today Traders should look for a buying opportunity on any intraday dip as the index has been moving higher over the last three days and is already up by more than 600 points.

BANK NIFTY:

Bank Nifty opened at 35958.80 with a big gap up of 341 points. The index initially consolidated, moved further on the upside, and recorded its intraday high at 36083.70. Prices then moved down at a slower pace and recorded its intraday low at 35748.45. The index again consolidated in the last hour of trading and finally closed at 35832.05 with a gain of 215 points. PSU BANKS have outperformed today, saw a sharp intraday rally, and ended higher by 3.21%.PVT BANKS have also moved up today and closed higher by 0.80%.Withinthe index, in terms of points, FEDERAL BANK contributed the highest on the upside while KOTAK BANK contributed the lowest.

Moreover the intraday range was also very narrow today, as the index has moved within a range of just 335 points and recorded a narrow range day. A pattern of BuIiish Head & Shoulder on the daily timeframe 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+
DLF 346 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 342 and for the target of  355.
TATASTEEL 1047 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 1045 with a stop loss of 1060 and target of 1020.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
HDFCBANK 1400 PE BUY 36 CMP 28 50 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
JUBLFOOD.22.06 Jun 569.5 10.15 14.42 13341875 JINDALSTEL.22.06 Jun 384.75 -2.74 8.68 29925000
DIXON.22.06 Jun 3748.7 9.86 18.9 740750 LALPATHLAB.22.06 Jun 2040.05 -2.26 5.01 1132375
CUB.22.06 Jun 138.25 8.99 10.92 11740200 JSWSTEEL.22.06 Jun 538.95 -2.03 11.71 41092650
IRCTC.22.06 Jun 693 8.4 3.54 12351500 TORNTPHARM.22.06 Jun 2871 -1.78 5.09 897500
INTELLECT.22.06 Jun 672 8 8.45 972000 SUNPHARMA.22.06 Jun 890 -1.26 4.17 21515200
                                                                        Short Covering                                                                       Long Unwinding
TATASTEEL.22.06 Jun 995.7 0.05 -0.5 34973250 KOTAKBANK.22.06 Jun 1912.45 -1.61 -1.78 12960400
ESCORTS.22.06 Jun 1637.9 0.42 -0.18 2751100
SAIL.22.06 Jun 74.9 0.74 -0.36 1.05E+08
PETRONET.22.06 Jun 218.75 1.27 -0.36 12450000
NBCC.22.06 Jun 33.95 1.49 -1.08 23112000

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Voltas Ltd. 1039.45 3.07 1269311 0 72.23 Nifty50 16661.4 1.89 90996
Hdfc Bank Ltd. 1401.55 0.68 6312337 0 69.95 Niftybank 35826.95 0.6 90996
Tata Consultancy Serv Lt 3375.25 3.49 2094624 0 66.91 Nifty it 29753.3 3.88 90996
Power Grid Corporation o 228.25 1.58 6979319 0 61.81 India Vix 19.98 -6.98 90993
Ipca Laboratories Ltd. 900.35 -0.09 673959 0 59.54 Nifty Fmcg 38610.4 0.96 90996
Infosys Limited 1526.8 4.48 10904213 0 57.08 Nifty Pharma 12671.15 0.01 90996
Icici Lombard General In 1290.3 2.39 351575 0 56.91 Nifty Realty 403.6 4.06 90996
Kotak Mahindra Bank Limi 1903.2 -2.21 3987800 0 56.1 Nifty Auto 11491.4 1.96 90996
Bharti Airtel Limited 699.05 2.14 4675033 0 55.54 Nifty Metal 5264.05 1.01 90996
Hdfc Ltd. 2367.25 1.58 5423558 0 54.86 Nifty Media 2021.45 3.21 90996

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

  • Sun Pharma on Monday reported a surprise consolidated net loss of Rs 2,277 crore for the quarter ending March 31, 2022. It reported consolidated net profit of Rs 848 crore in the year-ago period. The company reported one-time exceptional loss of Rs 3,936 crore in Q4FY22 due to Taro litigation settlement. Sun Pharma’s consolidated revenue rose 10% to Rs 9,446 crore as against Rs 8,523 crore in Q4FY21.

  • Jubilant Foodworks Ltd (JFL) on Monday reported an 8.8 per cent decline in its consolidated net profit at Rs 96 crore in the fourth quarter ended March 2022, impacted by higher expenses. The company had posted a consolidated net profit of Rs 105.3 crore in the same period previous fiscal, Jubilant Foodworks Ltd (JFL) said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 1,175.97 crore as against Rs 1,037.86 crore in the year-ago period, it added.

  • Home-grown auto major Mahindra & Mahindra (M&M) on Monday said it is planning to launch the fully electric version of its XUV 300 SUV in the market in the first quarter of next year. The company also announced that it will unveil its electric vehicle business strategy, ‘Born Electric Vision’ of EV concept in August this year.

  • India’s largest steel producer, JSW Steel Ltd, will continue to supply products to its buyers in Europe without passing on any increase in costs despite New Delhi’s decision to impose an export tax, a senior company official said on Monday. India recently imposed an export tax of 15% on some steel products from zero, at a time the country’s steelmakers were looking to make up for tepid local demand by increasing market share in Europe, where the Ukraine conflict has hit supplies.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AAPLUSTRAD Audited Results 31-May-22 QUESS Interim Dividend 31-May-22
AQFINTECH Audited Results 31-May-22 SANWARIA Audited Results 31-May-22
ASYL Audited Results;General 31-May-22 SHBAJRG Audited Results 31-May-22
BANKBARODA Dividend 31-May-22 SRIMT Audited Results 31-May-22
GGL General 31-May-22 UBEINDL Quarterly Results 31-May-22
HARAFIN Quarterly Results 31-May-22 WISEC Audited Results 31-May-22
INANISEC Quarterly Results 31-May-22 GANGESSEC General 01-Jun-22
MITSHI Audited Results 31-May-22 PDSL General;Stock  Split 01-Jun-22
MPCOSEMB Audited Results 31-May-22 RSYSTEMINT Interim Dividend;General 01-Jun-22
PTC Quarterly Results 31-May-22 STARHFL Final Dividend;General 01-Jun-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
HDFC 31-May-22 Dividend – Rs. – 30.0000 ZYDUSLIFE 01-Jun-22 Buy Back of Shares
HDFCLIFE 31-May-22 Final Dividend – Rs. – 1.7000 ASAHISONG 02-Jun-22 Buy Back of Shares
INFY 31-May-22 Final Dividend – Rs. – 16.0000 CASTROLIND 02-Jun-22 Final Dividend – Rs. – 3.0000
PGINVIT 31-May-22 Income Distribution (InvIT) IMAGICAA 02-Jun-22 E.G.M.
ADVANIHOTR 01-Jun-22 Interim Dividend – Rs. – 1.4000 KALLAM 02-Jun-22 Right Issue of Equity Shares
DATAINFRA 01-Jun-22 Income Distribution (InvIT) MISHTANN 02-Jun-22 Bonus issue 1:1
GTPL 01-Jun-22 Final Dividend – Rs. – 4.0000 PAGEIND 02-Jun-22 Interim Dividend – Rs. – 70.0000
IIFLWAM 01-Jun-22 Interim Dividend – Rs. – 20.0000 ROJL 02-Jun-22 Bonus issue 82:32
LINDEINDIA 01-Jun-22 Final Dividend – Rs. – 3.5000 SMAUTO 02-Jun-22 Interim Dividend – Rs. – 1.2500
LINDEINDIA 01-Jun-22 Special Dividend – Rs. – 10.0000 TATACOFFEE 02-Jun-22 Dividend – Rs. – 2.0000
SNIM 01-Jun-22 Consolidation of Shares TATAINVEST 02-Jun-22 Final Dividend – Rs. – 55.0000

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