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DAILY NEWS LETTER

Date: 03.05.2019

Nifty Short Term Trend

Nifty ended with marginal cuts as it failed to hold above 11,750

during a lacklustre day on May 2. IT and metal stocks dragged

the Nifty from the higher level. Nifty ended near its opening

level making a ‘Doji’ kind of pattern on the charts for the

second consecutive day. Doji Candle on the daily scale indicates

that bulls and bears both are fighting hard to get the grip for a

decisive range breakout in the market. However, it appears that

in last four trading sessions, Nifty is carving out a narrower

trading band of 172 points between 11,796-11,624 which can

eventually, sooner than later, pave the way for a breakout in

either of the direction which shall result in a swift move post

such a breakout. The lower end of the present trading range is

also coinciding with the short term critical moving average

support and hence a breach of 11,625 on closing basis will

enhance selling pressure further with initial targets placed

around 11,550. In case of a Nifty breakout above 11,800, we

shall see the indices heading towards 11,900-12,000 levels.

Nifty is stuck between 11,550 to 11,800/11,850 from last

twenty-one trading sessions where dips are being bought while

follow up is missing at higher levels.

Bank Nifty is finding buying interest near 29,550- 29,600 while

supply pressure is intact at 30,000. Now till it holds above

29,500 it could extend its gains towards 30,000 and 30,250,

while on the downside support can be seen at 29,500, then

29,250.

Levels to watch

R1 R2 S1 S2 Outlook for the Day Short term Outlook

NIFTY 11800 11900 11625 11550 Sideways Positive

BANK NIFTY 30000 30250 29500 29250 Sideways Positive

USD/INR 69.61 69.89 69.23 69.02 Sideways Positive

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Financial & Economic Wrap Up

Regulator TRAI plans to ask telecom operator Bharti

Airtel to cough up additional details on segmented or

concessional offerings it made to customers and will

insist that information furnished adheres to its

'prescribed format', a source said. The Telecom

Regulatory Authority of India (TRAI) had last month

asked operators to submit information on

concessional offers dished out between April 2018 and

March 2019, and while Bharti Airtel has shared some

details, Vodafone Idea sought two more weeks to

submit the same.

Conglomerate JSW Group has entered the paints

segment with JSW Paints, thus diversifying into the

consumer-facing business. With this launch, the group

aims to make a comprehensive offering for homes

through steel, cement, furniture and now paints. The

company plans to first launch its paints business in the

south and west by September 2019 and then expand

pan India by 2022.

Engineering firm Greaves Cotton on May 2 said its

board has approved a proposal to buy back around

1.37 crore shares worth up to Rs 240 crore. The price

of shares will be Rs 175 apiece, it said. The company's

board, which met on May 1, also recommended the

re-appointment of its MD and CEO Nagesh

Basavanhalli for a further period of five years with

effect from September 27, 2019, till September 26,

2024, Greaves Cotton said in a regulatory filing.

The United States Food and Drug Administration

(USFDA) has given voluntary action indicated

classification to drug major Sun Pharmaceutical

Industries for its Dadra plant. The health regulator had

inspected the company's Dadra facility from March 22

- March 29, 2019.

With Patanjali Ayurved acquiring debt-ridden oil

firm Ruchi Soya in a Rs 4,350 crore deal, the lenders

have agreed to a 52 percent haircut on admitted

claims. The CoC will present Patanjali's resolution plan

to the National Company Law Tribunal (NCLT) on May

7. The plan got a 96 percent approval from the

committee after a vote on April 30. The Baba Ramdev-

led company will infuse Rs 115 crore in the company.

Sources in one of the lenders told the paper that the

resolution plan offers Rs 4,235 crore to stakeholders,

of which Rs 4,053 crore will go to secured lenders,

whose admitted claims are nearly Rs 8,377 crore.

Indices Performance

Index LTP Previous Close % Change

S&P BSE Sensex 38981 39032 -0.13

Nifty 50 11725 11748 -0.20

Nifty Midcap 50 4824 4862 -0.80

Nifty 500 9638 9664 -0.28

Bank Nifty 29709 29765 -0.19

Institutional Flows (Cash Segment)

Description (Rs in Cr) BUY SELL NET

FII Activity 5759.40 5161.86 597.54

DII Activity 2784.07 3575.76 -791.69

FII Derivative Statistics

BUY SELL

No. of Contracts

Amount (INR. Cr.)

No. of Contracts

Amount (INR. Cr.)

Index Futures 45598 3335.83 48526 3852.05

Index Options 5565492 355123.62 5558846 354846.54

Stock Futures 229910 12718.90 221845 12449.10

Stock Options 85907 4903.43 84279 4805.23 Top OI Gainers

Scrip OI: No of Contract LTP OI: Value

% Change in OI

APOLLOHOSP 2372 1199.15 1186000 40.6

AJANTPHARM 1870 1077.6 935000 39.76

JETAIRWAYS 2734 103.55 6014800 27.82

TVSMOTOR 6770 469.1 6770000 20.23

BIOCON 8740 562.05 7866000 19.35 Top 5 OI Losers

Scrip OI: No of Contract LTP OI: Value

% Change in OI

CANBK 4478 263.9 8956000 -8.85

KOTAKBANK 22644 1409.35 9057600 -7.18

RAMCOCEM 1695 780.35 1356000 -7.02

RELCAPITAL 6797 135.2 10195500 -6.67

TCS 24167 2215.75 6041750 -6.37 Volume Spurt: Cash Segment

Scrip LTP Quantity

Change (%)** Price

Change (%)

AJANTA PHARMA 1072.9 363.47 8.33

J.KUMAR INFRAPROJECTS 129.75 378.81 7.72

CAN FIN HOMES 342.5 209.4 7.48

Jet Airways (India) 134.25 11.46 -12.46

Mcleod Russel India 51.2 628.99 -16.07 **Change from average Quantity, rest other % are over previous day’s close unless otherwise mentioned

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Put Call Ratios

OI Wise Volume wise

BERGEPAINT 4.00 BEARISH GSFC 4.25 BEARISH

MINDTREE 1.85 BEARISH JUSTDIAL 2.65 BEARISH

JUSTDIAL 1.68 BEARISH REPCOHOME 2.00 BEARISH

NIITTECH 1.22 BEARISH EQUITAS 1.81 BEARISH

BPCL 1.10 BEARISH CUMMINSIND 1.38 BEARISH

BEARISH

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Nifty OI – Call Put Analysis

F&O Wrap-up

• Nifty May series future closed at 11764 of 39.25 Point to nifty spot which closed at 11724.75

• The Nifty OI wise Put-Call ratio stood at 1.22 and volume wise put-call ratio stood at 0.99

• India VIX has increased by 5.19 percent and closed at 22.9625

• The open interest in Nifty Futures decreased from 14,01,550 to 15,54,632

Quarterly Results Today (Q4)

AAVAS Financiers Ltd INDUSTRIAL & PRUDENTIAL INVESTMENTS CO.LTD.

Accelya Kale Solutions Limitd KIRLOSKAR FERROUS INDUSTRIES LTD.

Akzo Nobel India Limited L&T Technology Services Ltd

BIOPAC INDIA CORPORATION LTD. LUDLOW JUTE & SPECIALITIES LTD.

BIRLA CORPORATION LTD. PIX TRANSMISSIONS LTD.

CENTURY TEXTILES & INDUSTRIES LTD. P.M.TELELINNKS LTD.

Capri Global Capital Limited RAMINFO LIMITED

Cholamandalam Financial Holdings Ltd RAS RESORTS & APART HOTELS LTD.

DEEPAK NITRITE LTD. STANPACKS (INDIA) LTD.

GODREJ CONSUMER PRODUCTS LTD. TATA CHEMICALS LTD.

HINDUSTAN UNILEVER LTD. VISAKA INDUSTRIES LTD.

HSIL LTD. VST INDUSTRIES LTD.

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