Morning-Outlook-Feature-Image

MORNING-OUTLOOK-6MAY

NIFTY:

Nifty opened at 16854.75 with a big gap up of 177 points. The index initially moved lower but soon prices turned up and saw a rally of more than 150 points. The index recorded its intraday high at 16945.70 and found strong resistance there. Prices have drifted downwards after that and erased all the gains that came from the gap and a rally. The decline continued for the rest of the day and prices have recorded its intraday low at 16651.85. The index finally closed at 16682.65 wit h a gain of just 5.05 points or 0.03% up. Realty led the bear today by closing 1.62% down followed by the FMCG and PHARMA which ended lower by more than 0.50%. IT outperformed today and ended with a gain of more than 2%.

The short-term trend is down and we should look for a shorting opportunity tomorrow. The idea is to sell short below 16600.In case of a gap down below 16600 apply the first 15-minute rule. That means sell short below the low recorded in the first 15 minutes of trading. But if prices went up tomorrow then we should look for a buying opportunity on a breakout above 16900. For both the cases, keep a stop of 110 points and a target of 240 points.

LIC-IPO-ELITE-WEALTH-LIMITED.

BANK NIFTY:

Bank Nifty opened 35705.35 wit h a big gap up of 388 points. The index continued its bullish momentum from the open and rallied higher to record its intraday high at 35935.85. Prices have found strong resistance there and then turned down. A sharp decline erases all the gain and prices have moved further on the downside to record its intraday low at 35133.80.The index finally closed at 35160.10 wit h a loss of 157 points.

PVT and PSU BANKS both have performed almost the same today, saw a sharp intraday decline, and closed lower by 0.40% & 0.71% respectively. Within the index, in terms of points,KOTAK BANK contributed the highest while INDUSIND BANK contributed the lowest.

But if the index moves higher then we should be looking for a buying also on a breakout above 35700.For both the cases, keep a stop of 300 points and a target of 800 points from your entry price

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
VOLTAS 1157 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 1150 and for the target of  1170.
DEEPAKNTR 2160 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 2155 with a stop loss of 2180 and target of 2100.

 

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
INDUSINDBK 930 PE BUY 29 CMP 20 45 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
PEL.May 26 2026.5 0.01 0.15 3400375 INTELLECT.May 26 690.65 -10 10.5 1673250
INDIAMART.May 26 4303.95 0.01 6.48 328050 DEEPAKNTR.May 26 2163.1 -5.79 19.57 1754750
HINDALCO.May 26 463.2 0.02 3.85 40098575 CANFINHOME.May 26 573.75 -5.73 4.71 3774225
M&M.May 26 900.05 0.02 3.53 11778200 GODREJPROP.May 26 1461 -5.71 6.33 4164225
NTPC.May 26 158.85 0.03 15 75992400 INDUSINDBK.May 26 938.2 -4.16 5.47 26304300
                                                                        Short Covering                                                                       Long Unwinding
LUPIN.May 26 728.05 0.04 -1.09 7848900 TATACOMM.May 26 1019.3 -2.31 -0.46 4834000
ESCORTS.May 26 1568.95 0.14 -0.66 3660800 M&MFIN.May 26 178.3 -0.92 -2.16 28476000
AUROPHARMA.May 26 627.95 0.17 -1.02 15285750 BANKNIFTY.May 26 35178.85 -0.37 -1.85 2873850
MANAPPURAM.May 26 111.65 0.22 -0.02 27534000 APOLLOTYRE.May 26 199.65 -0.27 -0.09 13475000
MGL.May 26 770.3 0.23 -0.69 2768400 NATIONALUM.May 26 101.2 0 -0.38 71727250

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Icici Prudential Life In 511.9 0.11 884526 0 82.66 Nifty50 16666.85 -0.06 71001
Crompton Greaves Consume 367.2 -0.64 571496 0 77.37 Niftybank 35150.45 -0.32 71001
Siemens Ltd 2302.75 4.66 1016847 0 73.57 Nifty it 31417.35 2.02 71001
Max Financial Services l 730.95 1.82 193475 0 71.31 India Vix 20.27 -7.36 71001
Alkem 3161.25 -0.93 37167 0 68.36 Nifty Fmcg 37369.6 -0.67 71001
Tvs Motor Company Limite 629.5 0.32 1562994 0 68 Nifty Pharma 12973.2 -1.03 71001
Sbi Cards And Payment Se 789 0.54 2793631 0 67.81 Nifty Realty 422 -1.89 71001
Bharti Airtel Limited 721.5 -0.12 4828042 0 66.95 Nifty Auto 10693.6 0.31 71001
Tata Consultancy Serv Lt 3508 0.81 1611013 0 66.51 Nifty Metal 6195.1 0.59 71001
Itc Ltd. 261.95 0.85 17921885 0 65.41 Nifty Financial Services 16227.1 -0.06 71001

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Deposit Growth) on 6th May, 2022

INR: Bank Loan Growth on 6th may, 2022

•USD: Nonfarm Payrolls (Apr) on 6th May 2022

•USD: Unemployment Rate (Apr) on 6th May, 2022

NEWS UPDATES

  • Tata Motors will commence deliveries of India’s first electric cargo four-wheeler EV Ace from the September quarter as it seeks to tap into the burgeoning demand for sustainable last mile delivery vehicles by e-commerce companies. The prices of the electrified version of the Ace, the sub-one tonne offering launched in 2005, will be revealed at the time of the commercial launch.
  • Dabur India Ltd on Thursday reported a 21.98 per cent decline in consolidated net profit at Rs 294.34 crore for the fourth quarter ended March 2022. The company had posted a net profit of Rs 377.29 crore in the January-March period a year ago, Dabur India said in a BSE filing. Its revenue from operations rose 7.74 per cent to Rs 2,517.81 crore during the quarter under review, as against Rs 2,336.79 crore in the year-ago period.
  • L&T on Thursday said its construction arm has won a large contract for the bullet train project. L&T Construction has bagged the project from National High-Speed Rail Corporation Ltd (NHSRCL). “The railways business of L&T Construction has secured acontract from NHSRCL to construct 116 route km of High-Speed ballastless track works for Mumbai-Ahmedabad High-Speed Rail (MAHSR) project, popularly referred to as the bullet train project,” the company said in a statement.
  • Tata Power Solar Systems on Thursday said it has won India’s largest solar engineering procurement and construction (EPC) order for 1 GW project worth Rs 5,500 crore from state-owned SJVN Ltd. According to a company statement, this EPC order has been designed keeping in mind the innovative use of ‘Make in India’ cells and modules.
Source: Economic Times,  Indian Express  ,Business Today, Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
APOLLOPIPES Dividend;Audited Results 06-May-22 OROSMITHS Audited Results 06-May-22
APOLLOTRI Audited Results 06-May-22 PAISALO Dividend;Quarterly Results;Stock  Split 06-May-22
ASL Audited Results;Final Dividend 06-May-22 PAUSHAKLTD Audited Results;Final Dividend 06-May-22
AVANTEL Bonus issue;Results;Final Dividend 06-May-22 PNC Audited Results 06-May-22
BAJAJCON Audited Results;Final Dividend 06-May-22 PONNIERODE Dividend;Audited Results 06-May-22
BHARATSE Dividend;Audited Results 06-May-22 PROFINC Preferential Issue of shares 06-May-22
CANBK Dividend;Audited Results 06-May-22 RADHIKAJWE General 06-May-22
CSBBANK Audited Results 06-May-22 REFEX Audited Results 06-May-22
FEDERALBNK Audited Results;Final Dividend 06-May-22 RELHOME Audited Results;General 06-May-22
GLFL Quarterly Results;Audited Results 06-May-22 RELIANCE Audited Results;Final Dividend 06-May-22
GREENPANEL Audited Results 06-May-22 SBGLP Half Yearly Results;Audited Results 06-May-22
GRINDWELL Dividend;Audited Results 06-May-22 SCI Dividend;Audited Results 06-May-22
HARIOMPIPE Audited Results 06-May-22 SUNCLAYLTD Audited Results 06-May-22
HIL Audited Results;Final Dividend 06-May-22 SUNLOC Quarterly Results;Audited Results 06-May-22
KBCGLOBAL General 06-May-22 TANFACIND Audited Results 06-May-22
LUCENT Audited Results;General 06-May-22 TATAPOWER Audited Results;Final Dividend 06-May-22
MAKERSL Rights Issue 06-May-22 VESUVIUS Quarterly Results 06-May-22
NITTAGELA Dividend;Audited Results 06-May-22 VIKASECO Audited Results;General 06-May-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
CRISIL 06-May-22 Interim Dividend – Rs. – 7.0000 TREEHOUSE 06-May-22 E.G.M.
EMBASSY 06-May-22 Income Distribution RITES VEDL 06-May-22 Interim Dividend – Rs. – 31.5000
MAHSHRE 06-May-22 E.G.M. INDIAMART 10-May-22 Buy Back of Shares
NCLRESE 06-May-22 Right Issue of Equity Shares LAURUSLABS 10-May-22 Interim Dividend – Rs. – 1.2000

 

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