Morning-Outlook-Feature-Image

NIFTY:

Nifty opened at 16227.70 wit ha big gap down of 184 points. The index initially moved further lower for almost half an hour and recorded its intraday low at 16142.50.Prices have found strong support there and bounced up. A sharp rally brought prices above 17400 and the index recorded its intraday high at17403.70. Prices then moved down again. The decline again finds support and prices have seen another rally in the last hour of trading. The index finally closed at 16301.85 wit h a loss of 109.40 points or 0.67% down. All the sectoral indices have seen a decline today and closed lower except IT which ended almost flat. OIL GAS. MEDIA, and METAL led the bears today and ended with more than a 2% loss.

INDIA VIX, the volatility’s benchmark indices have risen to 22 levels. For a non volatile environment, this needs to come around 15-18 zone. Trading in such a volatile environment almost always leaves us with a lot of whip saws. We are recommending traders step aside and avoid trading the index. We have to wait for an adequate setup to emerge which could suggest us a trading   opportunity.

BANK NIFTY:

Bank Nifty opened at 34091.75 with a big gap down of 590 points. The index initially moved down and recorded its intraday low at 33927.20. Prices find support there and moved up. The index rallied very sharply but failed to fill the gap and recorded its intraday high at 34554.34. index moved very volatile afterward and finally closed at 34321.05 with a loss of 360 points. PSU BANKS have underperformed today, led the bears, and closed lower by 2.34%. PVT BANKS have also moved down and ended with a loss of 0.90% Within the index, in terms of points, HDFC BANK contributed the highest while ICICI BANK contributed the lowest.

The index continued moving volatile wit h sharp swings in both directions. The short-term trend remains down and it now seems that a short-term low may be in place. A close above 34000 tomorrow may confirm this hypothesis

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
IEX 204 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 202 and for the target of  208.
GNFC 758 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 757 with a stop loss of 765 and target of 740.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
HCLTECH 1080 CE BUY 28 CMP 20 40 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI   Stocks Price Price% OI % OI
AMBUJACEM.May 26 367.3 0.1 2.16 40519500 HINDCOPPER.May 26 94.45 -9.92 9.1 16606600
MGL.May 26 768.6 0.1 2.81 2790600 CANBK.May 26 201.45 -8.2 16.71 50171400
SUNPHARMA.May 26 885.6 0.2 1.43 18543000 TATAPOWER.May 26 230 -6.37 8.03 1.04E+08
PVR.May 26 1705.2 0.21 11.53 2573868 CANFINHOME.May 26 513.5 -6.35 9.4 3744000
POLYCAB.May 26 2436.25 0.25 9.98 654600 GNFC.May 26 757 -5.76 9.92 3902600
                                                                        Short Covering                                                                       Long Unwinding
FSL.May 26 113.35 0.27 -4.22 13111800 INDHOTEL.May 26 239.3 -4.16 -0.83 22072736
BAJFINANCE.May 26 6052.1 0.39 -0.6 4984625 VEDL.May 26 350.05 -3.11 -0.78 46374450
LTTS.May 26 3902.9 0.59 -3.45 840400 TATACHEM.May 26 1007.45 -2.88 -3.38 6343000
MARUTI.May 26 7367.15 1.01 -0.58 2652200 NAM-INDIA.May 26 287.7 -2.71 -0.18 3619200
OFSS.May 26 3582.05 1.47 -1.26 312500 HEROMOTOCO.May 26 2501.9 -2.5 -0.85 3336300

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Honeywell Auto India Ltd 39054 -1.86 1692 0 82.11 Nifty50 16301.85 -0.67 79494
Navin Fluorine Internati 3734.6 -0.29 512668 0 69.95 Niftybank 34275.4 -0.91 79494
Hdfc Bank Ltd. 1319.85 0.17 16381217 0 65.94 Nifty it 30733.3 0.05 79494
Sbi Cards And Payment Se 761.5 1.14 1694548 0 64.97 India Vix 22.03 3.68 79494
Infosys Limited 1570.35 1.78 6832202 0 63.51 Nifty Fmcg 36732 -1.47 79497
Hdfc Ltd. 2168.3 0.82 3969231 0 62.04 Nifty Pharma 12785 -0.28 79497
Aarti Industries Ltd. 779.9 -1.71 941662 0 61.48 Nifty Realty 402.95 -1.27 79497
Nestleind 16504.35 -2.89 115147 0 59.82 Nifty Auto 10483.5 -0.33 79497
Ipca Laboratories Ltd. 987 -0.63 187582 0 59.35 Nifty Metal 5942.8 -2.03 79497
Ntpc Limited 159 0 22958742 0 58.71 Nifty Financial Services 15844.1 -0.32 79500

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

  • PVR Ltd on Monday reported narrowing of its consolidated net loss to Rs 105.49 crore for the fourth quarter ended in March 2022. The company had posted a net loss of Rs 289.21 crore in the January-March quarter a year ago, PVR said in a BSE filing. Its revenue from operations rose by nearly three-fold to Rs 537.14 crore during the quarter under review as against Rs 181.46 crore in the corresponding quarter last fiscal.
  • Engineering major Larsen & Toubro (L&T) on Monday said it has bagged a significant project from Jharkhand government for irrigation. The project envisages to provide water to irrigate 22,283 hectare of Culturable Command Area (CCA) in Dumka district of Jharkhand by way of pumping water from the Sidheshwari river. The scope includes survey, design, and constructing a barrage across the river. “The water & effluent treatment business of L&T Construction has secured a repeat EPC order from the Department of Water Resources, Government of Jharkhand, to execute the Masalia Ranishwar Megalift irrigation scheme on a turnkey basis,” the company said in statement.
  • Central Bank of India on Monday reported a standalone net profit of Rs 310 crore in quarter ended March 2022, on the back of less provisioning for bad loans. The lender had posted a net loss of Rs 1,349 crore in the same quarter a year-ago.
  • Steel prices, which have been on a song for the past two years, are finally set to correct on weak seasonality, and may trade at around Rs 60,000/tonne by the end of the current fiscal year, down from the Rs 76,000/tonne peak it scaled last month, says a report.
Source: Economic Times,  Indian Express  ,Business Today, Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AJANTPHARM Audited Results;Bonus issue 10-May-22 MRF Audited Results;Final Dividend 10-May-22
ASIANPAINT Audited Results;Final Dividend 10-May-22 MTARTECH General 10-May-22
AVADHSUGAR Audited Results;Dividend 10-May-22 NDRAUTO Audited Results;Final Dividend 10-May-22
CERA Dividend;General;Audited Results 10-May-22 NEULANDLAB General;Audited Results;Final Dividend 10-May-22
CHALET Audited Results 10-May-22 OAL Audited Results 10-May-22
CHEMPLASTS Results;Dividend;Quarterly Results 10-May-22 ORIENTELEC Quarterly Results;Final Dividend 10-May-22
CIPLA Dividend; Results;Quarterly Results 10-May-22 POLYCAB Audited Results;Dividend 10-May-22
DAICHI Audited Results 10-May-22 POLYLINK Audited Results 10-May-22
DEEPAKSP Audited Results;Final Dividend 10-May-22 RELCAPITAL General;Audited Results 10-May-22
ELANTAS Quarterly Results 10-May-22 SBIN General 10-May-22
EPL Audited Results;Final Dividend 10-May-22 STL Audited Results;Final Dividend 10-May-22
GUJGAS Dividend;Audited Results 10-May-22 SURYALAXMI Audited Results 10-May-22
HINDMOTORS Audited Results 10-May-22 SWASTIKA Audited Results;Final Dividend 10-May-22
IDEA Audited Results 10-May-22 TAJGVK Audited Results 10-May-22
KANSAINER Audited Results;Final Dividend 10-May-22 TEJASSVI Audited Results 10-May-22
KDML Audited Results 10-May-22 TORNTPOWER Audited Results;Final Dividend 10-May-22
MFSL Audited Results 10-May-22 WELSPUNIND Dividend;Audited Results 10-May-22
MGL Audited Results;Final Dividend 10-May-22 ZENSARTECH Final Dividend;Quarterly Results 10-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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