Money Market Update
The rupee ended at 72.62 against the U.S. Dollar on Monday as compared to Friday's closing of 72.43
The rupee ended at 72.62 against the U.S. Dollar on Monday as compared to Friday's closing of 72.43
Insider Trades
Apollo Tyres: Promoter PTL Enterprises bought 2.44 lakh shares between May 26-27.
Godrej Agrovet: Promoter Godrej Industries bought 27,000 shares on May 25.
Man Infraconstruction: Promoter Parag Shah bought 2 lakh shares on May 28.
Vardhman Special Steels: Promoter Sachit Jain bought 2,000 shares between May 28-31.
Apollo Tyres: Promoter PTL Enterprises bought 2.44 lakh shares between May 26-27.
Godrej Agrovet: Promoter Godrej Industries bought 27,000 shares on May 25.
Man Infraconstruction: Promoter Parag Shah bought 2 lakh shares on May 28.
Vardhman Special Steels: Promoter Sachit Jain bought 2,000 shares between May 28-31.
Stocks To Watch
Jammu & Kashmir Bank: To consider the proposal of capital infusion in the bank by the state government as its promoter shareholder to the extent of Rs 500 crore on June 4.
Magma Fincorp: Appointed Adar Poonawalla as the Chairman and Abhay Bhutada as the Managing Director of the company. Vijay Deshwal will take charge as CEO from the first week of July. Deshwal will also be the Group CEO of Poonawalla Group’s financial services business.
Canara Bank: SK Majumdar, General Manager of the bank, has been designated as Chief Financial Officer effective May 31.
Trent: Allotted 5,000 unsecured, redeemable NCDs of Rs 10 lakh each aggregating to Rs 500 crore on a private placement basis.
Earnings: ITC, Gujarat Gas, Radico Khaitan, Balrampur Chini Mills, Emami Paper, Salasar Techno and R.P.P. Infra Projects
Jammu & Kashmir Bank: To consider the proposal of capital infusion in the bank by the state government as its promoter shareholder to the extent of Rs 500 crore on June 4.
Magma Fincorp: Appointed Adar Poonawalla as the Chairman and Abhay Bhutada as the Managing Director of the company. Vijay Deshwal will take charge as CEO from the first week of July. Deshwal will also be the Group CEO of Poonawalla Group’s financial services business.
Canara Bank: SK Majumdar, General Manager of the bank, has been designated as Chief Financial Officer effective May 31.
Trent: Allotted 5,000 unsecured, redeemable NCDs of Rs 10 lakh each aggregating to Rs 500 crore on a private placement basis.
Earnings: ITC, Gujarat Gas, Radico Khaitan, Balrampur Chini Mills, Emami Paper, Salasar Techno and R.P.P. Infra Projects
Pledge Share Details
Adani Enterprises: Promoter Group (Gautam Adani and Rajesh Adani) revoked pledge of 11 lakh shares on May 27.
Adani Ports and Special Economic Zone: Promoter Group (Gautam Adani and Rajesh Adani) revoked pledge of 7.43 lakh shares on May 28.
Adani Transmission: Promoter Adani Tradeline LLP revoked pledge of 3.60 lakh shares on May 28.
Chambal Fertilisers & Chemicals: Promoter Zuari Global revoked pledge of 7.25 lakh shares between May 26-27.
JSW Steel: Promoter JTPM Metal Traders created a pledge of 30 lakh shares on May 25.
JSW Energy: Promoter JSW Investments created a pledge of 65 lakh shares on May 25.
Max Financial Services: Promoter Max Ventures Investment Holdings revoked pledge of 1.85 lakh shares between May 27-28.
MEP Infrastructure Developers: Promoter Anuya Mhaiskar revoked pledge of 5 lakh shares on May 28.
Steel Strips Wheels: Promoter Dheeraj Garg revoked pledge of 1.16 lakh shares on May 28.
Adani Enterprises: Promoter Group (Gautam Adani and Rajesh Adani) revoked pledge of 11 lakh shares on May 27.
Adani Ports and Special Economic Zone: Promoter Group (Gautam Adani and Rajesh Adani) revoked pledge of 7.43 lakh shares on May 28.
Adani Transmission: Promoter Adani Tradeline LLP revoked pledge of 3.60 lakh shares on May 28.
Chambal Fertilisers & Chemicals: Promoter Zuari Global revoked pledge of 7.25 lakh shares between May 26-27.
JSW Steel: Promoter JTPM Metal Traders created a pledge of 30 lakh shares on May 25.
JSW Energy: Promoter JSW Investments created a pledge of 65 lakh shares on May 25.
Max Financial Services: Promoter Max Ventures Investment Holdings revoked pledge of 1.85 lakh shares between May 27-28.
MEP Infrastructure Developers: Promoter Anuya Mhaiskar revoked pledge of 5 lakh shares on May 28.
Steel Strips Wheels: Promoter Dheeraj Garg revoked pledge of 1.16 lakh shares on May 28.
World Markets
Dow Closed
Nasdaq Closed
Dax - 99
Nikkei - 180
Hangseng - 34
Sgxnifty + 30 (15601)
Brent Crude 69.92
Dow Fut - 20
Dollar Index 89.75
Dow Closed
Nasdaq Closed
Dax - 99
Nikkei - 180
Hangseng - 34
Sgxnifty + 30 (15601)
Brent Crude 69.92
Dow Fut - 20
Dollar Index 89.75
*CALCULUS DERIVATIVES CORNER*
8 AM.
*Market Summary*:
• Nifty June Futures ended Monday’s session at a premium of +12 vs premium of +32 in its previous trading session.
• The 03rd June expiry Put-Call Open Interest Ratio was at 1.41 for Nifty whereas it was 0.94 for Bank Nifty.
• The 03rd June expiry Put-Call Volume Ratio was at 0.91 for the Nifty and 0.78 for Bank Nifty.
• For Nifty, Maximum Call Open Interest (OI) stands at 16000 Strike Price, followed by 15700 Strike Price for 03rd June Series. Short covering was seen at strike prices 14800-15300.
• Maximum Put Open Interest (OI) was seen at strike price 15400 followed by 15500 strike prices for 03rd June series. Short buildup was seen at strike prices 14500-15600.
• For Bank Nifty, Maximum Call Open Interest (OI) stands at 35500 Strike Price and Maximum Put Open Interest stands at 35000 Strike Price.
• As per Monday’s Provisional Data available on the NSE, FIIs bought shares worth Rs. 2412.39 crores in the Indian Equity Market. DIIs too bought shares worth Rs.179.78 crores in the Indian Equity market.
• Long Buildup: SAIL, TATASTEEL, NAM-INDIA, TATACONSUM.
• Short Buildup: ADANIPORTS, M&M, NAUKRI.
• Short Covering: RELIANCE, DABUR, ADANIENT, BANDHANBANK.
• Long Unwinding: CADILA, BAJAJAUTO, SBILIFE.
• Stocks banned in F&O segment: BANKBARODA, PNB, SUNTV.
• New in Ban: BANKBARODA, PNB.
• Out of Ban: NIL.
8 AM.
*Market Summary*:
• Nifty June Futures ended Monday’s session at a premium of +12 vs premium of +32 in its previous trading session.
• The 03rd June expiry Put-Call Open Interest Ratio was at 1.41 for Nifty whereas it was 0.94 for Bank Nifty.
• The 03rd June expiry Put-Call Volume Ratio was at 0.91 for the Nifty and 0.78 for Bank Nifty.
• For Nifty, Maximum Call Open Interest (OI) stands at 16000 Strike Price, followed by 15700 Strike Price for 03rd June Series. Short covering was seen at strike prices 14800-15300.
• Maximum Put Open Interest (OI) was seen at strike price 15400 followed by 15500 strike prices for 03rd June series. Short buildup was seen at strike prices 14500-15600.
• For Bank Nifty, Maximum Call Open Interest (OI) stands at 35500 Strike Price and Maximum Put Open Interest stands at 35000 Strike Price.
• As per Monday’s Provisional Data available on the NSE, FIIs bought shares worth Rs. 2412.39 crores in the Indian Equity Market. DIIs too bought shares worth Rs.179.78 crores in the Indian Equity market.
• Long Buildup: SAIL, TATASTEEL, NAM-INDIA, TATACONSUM.
• Short Buildup: ADANIPORTS, M&M, NAUKRI.
• Short Covering: RELIANCE, DABUR, ADANIENT, BANDHANBANK.
• Long Unwinding: CADILA, BAJAJAUTO, SBILIFE.
• Stocks banned in F&O segment: BANKBARODA, PNB, SUNTV.
• New in Ban: BANKBARODA, PNB.
• Out of Ban: NIL.
*Good Morning & Welcome to Tuesday’s trading action at Dalal Street dated 1st June 2021.*
Well, after another boisterous month of gains in May 2021, perma-bulls find themselves back in a similar position —— fresh records highs.
*Fresh record highs!*
That’s quite obvious as we just had a bumper May 2021 where Nifty made blockbuster monthly gains of 6.50%.
*The big question: Nifty 16000 possible?*
*7 AM GLOBAL UPDATE:*
• SGX Nifty (+53, 15633)
• DOW JONES (CLOSED, 34529)
• NASDAQ (CLOSED, 13749)
• BOVESPA (+654, 126216)
• NIKKEI (+98, 28958)
• HANG SENG (+7, 29159)
Instrument CMP Bias
OIL $67.25 a barrel Positive
GOLD $1910 Positive
Silver 28.17 Positive
USD/INR 72.49 Negative
*INSTITUTIONS:*
• FII: +2412.39 Cr
• DII: +179.78 Cr
*THEME OF THE DAY:*
• Global: Positive
• FII: Positive (+2412.39 Cr)
• DII: Positive (+179.78 Cr)
• F&O: 15300-15800 zone
• Trend: Up
• Sentiment: Bullish
• Technicals: Higher high/low
• Theme: Fresh record highs.
*All ABOUT NIFTY & BANK NIFTY’ CRUCIAL LEVELS*
NIFTY (CMP 15582):
• SUPPORT: 15357/15157
• RESISTANCE: 15757/16001
• RANGE: 15457-15757
• BIAS: Positive.
BANK NIFTY (CMP 35527):
• SUPPORT: 34989/34257
• RESISTANCE: 36497/37709
• RANGE: 35101-36751
• BIAS: Positive.
*THEME OF THE DAY:*
Our *call of the day* which suggests the benchmarks are likely to carry the positive baton from yesterday’s trade. Technically speaking, buying on dips should be the preferred trading strategy on backdrop of recent sequence of higher high/low on the daily, weekly and monthly time frames. We expect another round of great fireworks display. All bullish eyes on Nifty’s psychological 15750 mark and then aggressive bullish eyes on 16000 mark. Nifty’s make-or-break supports are placed at 15157 mark. As long as Nifty’s 15157 support holds, the benchmark will aim at magical the 16000 mark. Intraday support for Nifty seen at 15331 mark.
The price action for Nifty in the near term is suggesting that we are likely to see a 15,301- 15901 range in near term with buy on dips as the preferred strategy.
*Helping sentiments are positive catalysts like:*
1. Firm global cues: The U.S. Futures are seen rising despite Memorial Day Holiday on Monday.
2. India FY21 GDP contracts 7.3%: The 2020-21 GDP contraction is much better than the forecasts of the Reserve Bank of India and the Ministry of Statistics and Programme Implementation, both of which had expected GDP for the full year to contract by 8 percent.
3. FIIs seen in buying spree: As per Monday’s provisional data available on the NSE, FIIs bought shares worth Rs. 2412.39 crores in the Indian Equity Market.
Our *chart of the day* is bullish on stocks like VEDANTA, AXIS BANK, and JINDAL STEEL & POWER with an interweek perspective. ESCORTS appears a good buy with intermonth perspective.
*SHOW ME THE MONEY:* JINDAL STEEL & POWER (CMP 407): Momentum Call: Buy JINDAL STEEL & POWER June Futures for 0-5 days at CMP 409 for an objective of 447. Stop 385. Alert: Oversold zone.
Now, here are other key things to know before today’s market opens:
• The options data for June series suggests Nifty is likely to be in a broader trading range of 15200-15800 as maximum Call OI is at 16000 followed by 15500 strike price. Maximum Put open interest stands at 15000 levels followed by 14700 levels. Call writing was seen at 16200 and then at 16300 strike price, while there was meaningful Put writing at 15000 and then at 14800 strike prices.
• *Also signaling optimism for our stock markets is the fact that the volatility index has fallen to 16.76, the lowest level seen during this calendar year —— indicating positive bias in the market.*
• *On investors radar would be the May auto sales data to trickle in today-- 1st of June 2021.* The street suspects that there will be significant decline in auto sales due to COVID-led lockdown-like restrictions in several states. Also, several companies had closed their plants for maintenance as well as lockdown, which could also hit sales.
Well, after another boisterous month of gains in May 2021, perma-bulls find themselves back in a similar position —— fresh records highs.
*Fresh record highs!*
That’s quite obvious as we just had a bumper May 2021 where Nifty made blockbuster monthly gains of 6.50%.
*The big question: Nifty 16000 possible?*
*7 AM GLOBAL UPDATE:*
• SGX Nifty (+53, 15633)
• DOW JONES (CLOSED, 34529)
• NASDAQ (CLOSED, 13749)
• BOVESPA (+654, 126216)
• NIKKEI (+98, 28958)
• HANG SENG (+7, 29159)
Instrument CMP Bias
OIL $67.25 a barrel Positive
GOLD $1910 Positive
Silver 28.17 Positive
USD/INR 72.49 Negative
*INSTITUTIONS:*
• FII: +2412.39 Cr
• DII: +179.78 Cr
*THEME OF THE DAY:*
• Global: Positive
• FII: Positive (+2412.39 Cr)
• DII: Positive (+179.78 Cr)
• F&O: 15300-15800 zone
• Trend: Up
• Sentiment: Bullish
• Technicals: Higher high/low
• Theme: Fresh record highs.
*All ABOUT NIFTY & BANK NIFTY’ CRUCIAL LEVELS*
NIFTY (CMP 15582):
• SUPPORT: 15357/15157
• RESISTANCE: 15757/16001
• RANGE: 15457-15757
• BIAS: Positive.
BANK NIFTY (CMP 35527):
• SUPPORT: 34989/34257
• RESISTANCE: 36497/37709
• RANGE: 35101-36751
• BIAS: Positive.
*THEME OF THE DAY:*
Our *call of the day* which suggests the benchmarks are likely to carry the positive baton from yesterday’s trade. Technically speaking, buying on dips should be the preferred trading strategy on backdrop of recent sequence of higher high/low on the daily, weekly and monthly time frames. We expect another round of great fireworks display. All bullish eyes on Nifty’s psychological 15750 mark and then aggressive bullish eyes on 16000 mark. Nifty’s make-or-break supports are placed at 15157 mark. As long as Nifty’s 15157 support holds, the benchmark will aim at magical the 16000 mark. Intraday support for Nifty seen at 15331 mark.
The price action for Nifty in the near term is suggesting that we are likely to see a 15,301- 15901 range in near term with buy on dips as the preferred strategy.
*Helping sentiments are positive catalysts like:*
1. Firm global cues: The U.S. Futures are seen rising despite Memorial Day Holiday on Monday.
2. India FY21 GDP contracts 7.3%: The 2020-21 GDP contraction is much better than the forecasts of the Reserve Bank of India and the Ministry of Statistics and Programme Implementation, both of which had expected GDP for the full year to contract by 8 percent.
3. FIIs seen in buying spree: As per Monday’s provisional data available on the NSE, FIIs bought shares worth Rs. 2412.39 crores in the Indian Equity Market.
Our *chart of the day* is bullish on stocks like VEDANTA, AXIS BANK, and JINDAL STEEL & POWER with an interweek perspective. ESCORTS appears a good buy with intermonth perspective.
*SHOW ME THE MONEY:* JINDAL STEEL & POWER (CMP 407): Momentum Call: Buy JINDAL STEEL & POWER June Futures for 0-5 days at CMP 409 for an objective of 447. Stop 385. Alert: Oversold zone.
Now, here are other key things to know before today’s market opens:
• The options data for June series suggests Nifty is likely to be in a broader trading range of 15200-15800 as maximum Call OI is at 16000 followed by 15500 strike price. Maximum Put open interest stands at 15000 levels followed by 14700 levels. Call writing was seen at 16200 and then at 16300 strike price, while there was meaningful Put writing at 15000 and then at 14800 strike prices.
• *Also signaling optimism for our stock markets is the fact that the volatility index has fallen to 16.76, the lowest level seen during this calendar year —— indicating positive bias in the market.*
• *On investors radar would be the May auto sales data to trickle in today-- 1st of June 2021.* The street suspects that there will be significant decline in auto sales due to COVID-led lockdown-like restrictions in several states. Also, several companies had closed their plants for maintenance as well as lockdown, which could also hit sales.