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DAILY NEWS LETTER

Date: 06.05.2019

Nifty Short Term Trend

On May 3, Nifty ended marginally lower but held the important

level of 11,700 supported by bank, auto and energy stocks.

"Market continued to trade in a listless fashion and remained

range bound before signing off the session with a Doji kind of

indecisive formation for the third day in a row. Interestingly,

weekly charts also depicted an indecisive formation which

resembles a Hanging Man for the second consecutive week

after maintaining a narrow range of 134 points in the current

truncated week. A close below 11,635 in next session may

enhance selling pressure on the indices further thereby

confirming some sort of weakness. Besides, with some of the

momentum oscillators both on weekly and daily charts being in

sell mode and bears appears to be placed in an advantageous

position. For bulls, a close above 11,800 can offer a new lease

of life. Index has got stuck in between 11,550 to 11,800/11,850

zones from last twenty-two trading sessions where dips are

being bought while follow up is missing at higher zones. Now till

it holds above 11,666 zones it could witness an up move

towards 11,800 then 11,850 levels while on the downside

major support is seen at 11,600-11,550 levels.

Bank Nifty opened positive and gradually extend its gains

towards 30,100 zones but failed to the same and drifted

towards 29,950 level. It formed a small Bullish Candle on a daily

scale while Doji Candle on a weekly scale. Now till Bank Nifty

holds above 29,750 levels it could extend its gains towards

30,250-30,450 zone while on the downside major support is

seen at 29,700-29,500 zones.

Levels to watch

R1 R2 S1 S2 Outlook for the Day Short term Outlook

NIFTY 11800 11850 11600 11550 Sideways Positive

BANK NIFTY 30250 30450 29700 29500 Sideways Positive

USD/INR 69.47 69.65 69.05 68.74 Sideways Positive

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Financial & Economic Wrap Up

India's steel production fell by about 0.3 percent to

27.33 million tonne (MT) during the first quarter of the

calendar year 2019, according to data from the World

Steel Association. During the January-March 2018

period, the country had produced 27.40 MT of crude

steel, the data showed.

In a significant move, the government is readying a

scheme to provide financial assistance to minority

investors filing class action lawsuits under the

companies law, a senior official said. Working on ways

to further bolster measures to protect the interest of

investors, the corporate affairs ministry would also be

encouraging investors to resort to class action suits.

State-owned Oil and Natural Gas Corp (ONGC) has

received the green nod to drill six development wells

in Assam at an estimated cost of Rs 240 crore. The

Union Environment Ministry has given the

environment clearance for six development wells in

five mining lease blocks in Jorhat and Golghat districts,

according to an official document.

Prime Minister Narendra Modi may have set a target

to cut India's oil import dependence by 10 percent but

the country's reliance on foreign oil for meeting its

energy needs has jumped to a multi-year high of

nearly 84 percent, latest government data showed.

Speaking at the 'Urja Sangam' conference in March

2015, the Prime Minister had said that India needs to

bring down its oil import dependence from 77 percent

in 2013-14 to 67 percent by 2022 when India will

celebrate its 75th year of independence.

Yes Bank on May 3 said the Reserve Bank of India has

imposed a penalty of Rs 11.25 lakh on it for violating

money transfer norms. "(The) Reserve Bank of India

(RBI) vide its speaking order dates April 22, 2019,

imposed a penalty of Rs 11,25,000 under the Payment

and Settlement Systems Act, 2007," Yes bank said in a

regulatory filing. The RBI has identified certain

violations of its circular of 2011 on Domestic Money

Transfer - Relaxations and master directions issued in

October 2017 on issuance and operation of prepaid

payment instruments in connection with certain

product features for an open loop prepaid card (co-

branded) previously issued by the bank, Yes Bank said.

Indices Performance

Index LTP Previous Close % Change

S&P BSE Sensex 38963 38981 -0.05

Nifty 50 11712 11725 -0.11

Nifty Midcap 50 4842 4824 0.38

Nifty 500 9625 9638 -0.13

Bank Nifty 29954 29709 0.83

Institutional Flows (Cash Segment)

Description (Rs in Cr) BUY SELL NET

FII Activity 4034.84 4435.52 -400.68

DII Activity 3476.54 3419.47 57.07

FII Derivative Statistics

BUY SELL

Scrip No. of Contracts

Amount (INR. Cr.)

No. of Contracts

Amount (INR. Cr.)

Index Futures 28113 2074.68 25642 1921.27

Index Options 1826028 121951.39 1818042 121383.44

Stock Futures 189572 10688.60 179245 10140.97

Stock Options 82010 4777.83 81837 4711.27 Top OI Gainers

Scrip OI: No of Contract LTP OI: Value

% Change in OI

DHFL 14001 142.5 21001500 21.96

CHOLAFIN 1307 1328.6 653500 19.91

TORNTPHARM 1663 1754.6 831500 16.7

CIPLA 11633 568.85 11633000 11.91

BRITANNIA 11135 2718.5 2227000 10.02 Top 5 OI Losers

Scrip OI: No of Contract LTP OI: Value

% Change in OI

AJANTPHARM 1630 1057.3 815000 -12.83

CONCOR 1017 507.7 1589571 -11.87

JETAIRWAYS 2506 102.2 5513200 -8.34

APOLLOHOSP 2205 1205 1102500 -7.04

CANFINHOME 2123 335.1 3821400 -6.72 Volume Spurt: Cash Segment

Scrip LTP Quantity

Change (%)** Price

Change (%)

Reliance Power 6.45 83.54 20.56

Gujarat Alkalies & Chem 528.9 563.33 6.68

DEWAN HOUSING FINANCE 141.3 26.95 5.53

Mcleod Russel India 46.1 185.36 -9.96

EROSMEDIA 60.9 332.55 -10.51 **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

MINDTREE 2.20 BEARISH MINDTREE 2.88 BEARISH

JUSTDIAL 1.55 BEARISH PIDILITIND 1.82 BEARISH

BOSCHLTD 1.45 BEARISH NIITTECH 1.34 BEARISH

PIDILITIND 1.28 BEARISH CADILAHC 1.23 BEARISH

GSFC 1.28 BEARISH SUZLON 1.08 BEARISH

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Nifty OI – Call Put Analysis

F&O Wrap-up

• Nifty May series future closed at 11764.30 of 52.05 Point to nifty spot which closed at 11712.25

• The Nifty OI wise Put-Call ratio stood at 1.19 and volume wise put-call ratio stood at 0.89

• India VIX has increased by 4.35 percent and closed at 23.9825

• The open interest in Nifty Futures decreased from 12,74,049 to 13,76,090

Quarterly Results Today (Q4)

BHARAT BIJLEE LTD. GTL LTD. Oceanic Foods Ltd

BHARTI AIRTEL LTD. Gujarat Gas Ltd PAUSHAK LTD.

CHENNAI PETROLEUM CORPORATION LTD. HINDUSTAN COMPOSITES LTD. Pitti Engineering Ltd

Darjeeling Ropeway Company Ltd ICICI BANK LTD. RAMINFO LIMITED

Duncan Engineering Ltd JUPITER INFOMEDIA LTD. Sunshine Capital Ltd

Expleo Solutions Ltd Mahindra CIE Automotive Limited THIRUMALAI CHEMICALS LTD.

Fortis Malar Hospitals Limited MARICO LTD. USHDEV INTERNATIONAL LTD.

FIRSTSOURCE SOLUTIONS LTD. NARENDRA PROPERTIES LTD. VISHNU CHEMICALS LTD.

GREAT EASTERN SHIPPING CO.LTD. Navin Fluorine International WOCKHARDT LTD.

Godrej Agrovet Ltd NITTA GELATIN INDIA

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