morning-outlook-7mayNIFTY:

Nifty opened at 16415.55 wit ha big gap down of 267 points. The index initially moved higher but soon prices finds strong resistance and started  drifting downwards. The index recorded its intraday low at 16340.90 and found repeated support around the 17350 level. The index then rose and recorded its intraday high at 16484.20 and then again turned down. Prices keep on recording these alternate swings of up and down for the whole day and finally closed at 16411.25 almost at its opening tick with a loss of 271.40 points or 1.63% down. All the sectoral indices have seen a decline today and closed lower. REALTY ended wit h a loss of more than 3.5% while FINANCIAL, METAL, and IT ended with a loss of more than 2%.

The index recorded a pattern of DOJI today. This pattern will appear when the opening and closing rates are almost the same and indicate confusion amongst the traders. After three days of sharp decline, it is possible that the index may start a process of consolidation or correction soon .As of now, we should avoid trading the index and wait for any adequate trading setup to emerge.

LIC-IPO-ELITE-WEALTH-LIMITED.

BANK NIFTY:

Bank Nifty opened at wit h a big gap down of 591points. The index first consolidated and then moved down. Prices have record its intraday low at 34353.20 and then bounced up. The rally did not sustain long enough. Prices have kept on moving up and down for the whole day an recorded its intraday high at 34797.95. The index finally closed at 34681.50 wit h a loss of 479 points. PVT BANKS have underperformed today, led the bears, and closed lower by 2.18%. PSU BANKS have also moved down and ended with a loss of 0.52% Within the index, in terms of points, SBIN contributed the highest while HDFC BANK contributed the lowest.

The short-term trend is down and the index closes below 35000. It is possible that we may see a consolidation or correction here in the next week. As of now, we do not have an adequate trading setup that could suggest us a trading opportunity

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
ADANIENT 2247 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 2230 and for the target of  2280.
TCS 3432 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 3430 with a stop loss of 3450 and target of 3380.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
RELIANCE 2640 CE BUY 79 CMP 65 100 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
GUJGASLTD.May 26 510.7 0.09 4.48 3382500 VEDL.May 26 361.3 -10.92 1.76 46738700
SUNPHARMA.May 26 883.85 0.29 2.62 18281200 CHOLAFIN.May 26 640.7 -10.58 5.65 8735000
IOC.May 26 126.7 0.48 1.6 53950000 VOLTAS.May 26 1064.2 -8.19 3.07 3537500
HONAUT.May 26 39794.35 0.5 2.41 6375 TORNTPOWER.May 26 493.85 -5.98 24.11 3783000
COLPAL.May 26 1581.35 0.52 4.37 2606100 NAUKRI.May 26 3903.25 -5.8 4 1490500
                                                                        Short Covering                                                                       Long Unwinding
ADANIPORTS.May 26 815.25 0.02 -0.75 76567500 COFORGE.May 26 3893.75 -6.51 -9.69 737900
IEX.May 26 200.8 0.17 -2.58 47985000 DEEPAKNTR.May 26 2028.4 -6.14 -1.38 1443250
SBIN.May 26 480.7 0.24 -3.59 55071000 INTELLECT.May 26 678.4 -5.72 -2.05 1614000
ESCORTS.May 26 1573 0.31 -3.71 3484800 BHEL.May 26 51.1 -5.46 -2.6 1.03E+08
IGL.May 26 349.35 0.32 -1.05 14115750 INDIACEM.May 26 186.45 -5.16 -2.64 13238500

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Syngene 585.95 -2.86 210847 62038 72.42 Nifty50 16411.25 -1.63 36407864
Ipca Laboratories Ltd. 993.25 -0.89 250491 148671 72.42 Niftybank 34591.2 -1.82 17270417
Sbi Cards And Payment Se 752.9 -4.74 2854660 1854727 71.18 Nifty it 30719.45 -2.27 1613905
Whirlpool 1603.7 -0.34 146283 61932 71 India Vix 21.25 4.73 2.83E+08
Honeywell Auto India Ltd 39792.5 -0.68 5485 4504 69.21 Nifty Fmcg 37279.3 -0.34 647617
Page Industries Limited 44911.5 -1.77 19910 10177 63.89 Nifty Pharma 12820.9 -1.44 46571642
Itc Ltd. 266.65 1.76 34490123 19075746 63.81 Nifty Realty 408.15 -3.56 1.45E+09
Infosys Limited 1542.85 -2.67 6171472 3919307 63.67 Nifty Auto 10518.45 -1.75 56707360
Titan Company Limited 2208.75 -2.35 1465638 809904 62.31 Nifty Metal 6066 -2.11 98449764
Tata Consultancy Serv Lt 3432.6 -2.3 2010812 1157843 61.71 Nifty Financial Services 15895.35 -2.25 6126830

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: CPI (YoY) (Apr) on 12th May, 2022

INR: Industrial Production (YoY) (Mar) on 12th may, 2022

•USD: Core CPI (MoM) (Apr) on 11th May 2022

•USD: Crude Oil Inventories on 11th May, 2022

NEWS UPDATES

  • Reliance Industries (RIL) on Friday reported a consolidated net profit of Rs 16,203 crore for the quarter ended March 31, 2022 (Q4 FY22), up 22.5 per cent over the year-ago period’s Rs 13,227 crore but slightly short of expectations. A poll of analysts by Bloomberg had pegged net profit at Rs 16,819 crore for Q4. But for the exceptional income of Rs 2,836 crore in the December 2021 quarter, net profit would have been its highest quarterly profit ever.
  • Reliance Jio’s net profit jumped 22.9 per cent to Rs 4,313 crore year-on-year (YoY) in the fourth quarter of FY22, thanks to an increase in revenue and data volume. Jio, however, continued to lose subscribers for the third consecutive quarter. Its customer base shrunk 10.9 million to 410.2 million at the end of fourth quarter. The company blamed SIM consolidation for the drop in customer base. It said consolidation was now slowing as the tariff hike impact had been absorbed.
  • Burning a bigger hole in common man’s pocket, the price of 14.2-kg domestic LPG cylinder on Saturday was hiked by Rs 50. With the new revision, the LPG cylinder will now retail at Rs 999.50 in Delhi. Earlier in the month, the price of a 19-kg commercial LPG cylinder was increased by Rs 102.50, whereas the 5-kg LPG cylinder is now priced at Rs 655.
  • L&T Infotech (LTI) and Mindtree – and the process is expected to complete by the end of the current financial year. The merged entity, to be called LTIMindtree, will have a stronger potential to access large deals and compete with scale players, said top executives of L&T. In terms of revenue and profit, LTIMindtree will be the sixth-largest IT player in the country, after TCS, Infosys, HCL Technologies, Wipro, and Tech Mahindra.
Source: Economic Times,  Indian Express  ,Business Today, Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
3IINFOTECH Audited Results;General 09-May-22 MANYAVAR Audited Results;Final Dividend 09-May-22
AARTIDRUGS Audited Results 09-May-22 MEL General 09-May-22
ABHIJIT Audited Results;Quarterly Results 09-May-22 MOLDTEK Final Dividend;General;Quarterly Results 09-May-22
BASF Audited Results;Final Dividend 09-May-22 MOLDTKPAC Final Dividend;General;Quarterly Results 09-May-22
BOROLTD Audited Results;General 09-May-22 NATCAPSUQ Results;Dividend;General;Rights Issue 09-May-22
CENTRALBK Audited Results 09-May-22 PPL Audited Results;Final Dividend 09-May-22
CMSINFO A.G.M.;Audited Results;Final Dividend 09-May-22 PRECAM General 09-May-22
COSMOFILMS Audited Results;Bonus issue 09-May-22 PREMIERPOL Results;Dividend;Quarterly Results 09-May-22
CRAFTSMAN Audited Results;Dividend 09-May-22 PVR Audited Results 09-May-22
DALBHARAT Audited Results;Final Dividend 09-May-22 SIKA Audited Results;Dividend 09-May-22
DATIWARE Audited Results;Quarterly Results 09-May-22 SRF Audited Results;Final Dividend 09-May-22
ESCORTSFIN Audited Results 09-May-22 STDSFAC General 09-May-22
GNFC Audited Results;Dividend 09-May-22 SUTLEJTEX Audited Results;Final Dividend 09-May-22
GODREJAGRO Final Dividend;Quarterly Results 09-May-22 SUVENPHAR Audited Results;Interim Dividend 09-May-22
INFIBEAM Audited Results;General 09-May-22 UPL* Audited Results;Final Dividend 09-May-22
ISMTLTD Audited Results 09-May-22 VISAKAIND Audited Results;Final Dividend 09-May-22
JAYIND Audited Results 09-May-22 VSTTILLERS Audited Results;Final Dividend 09-May-22
KEI Audited Results 09-May-22 WARDINMOBI Audited Results 09-May-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
INDIAMART 10-May-22 Buy Back of Shares THYROCARE 11-May-22 Interim Dividend – Rs. – 15.00
LAURUSLABS 10-May-22 Interim Dividend – Rs. – 1.20 COASTCORP 12-May-22 Interim Dividend – Rs. – 2.00
APTECHT 11-May-22 Interim Dividend – Rs. – 5.00 HDFCBANK 12-May-22 Final Dividend – Rs. – 15.50
IRBINVIT 11-May-22 Income Distribution (InvIT) INDIANCARD 12-May-22 Special Dividend – Rs. – 25.00

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