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DAILY NEWS LETTER

Date: 28.05.2019

Nifty Short Term Trend

Driven by banking and metals stocks, Nifty closed above 11,900

levels and formed a bullish candle on the daily charts. The index

rallied 80.70 points higher to end at record closing high

of 11,924.80 and is just 116 points away from its life-time high

of 12,041 levels. Nifty50 continued its positive momentum as

the index closed at new life time highs before signing off the

session with a bullish candle. However, on intraday basis, it

remained in a narrow range of around 40 points in last 4 hours

of the session between 11,950–11,910 which can be a cause for

today’s session. On intraday basis if the index trades below

11,900 today for atleast 30 minutes, then it can undergo profit

booking with initial targets of 11,812 below which slightly larger

correction can kick in. Contrary to this if index manages to

sustain above 11,957 levels then it can extend its strength to

test election-day high of 12,040 levels for short term. For today,

Nifty has to continue to hold above 11,850 zone to extend its

move towards 12,000 then 12,040 zones while support is seen

at 11,761 levels.

Bank Nifty has been making higher lows from last seven

consecutive sessions and managed to close near its life-time

high territory of 31,650-31,700 zones. The index formed a

bullish candle on daily scale as sustained buying interest was

seen throughout the session. Now Bank Nifty has to hold above

31,150 zone to extend its move towards new life time high of

32,000 then 32,250 levels while major support exists at 31,000

then 30,500 zones.

Levels to watch

R1 R2 S1 S2 Outlook for the Day Short term Outlook

NIFTY 12000 12040 11850 11761 Sideways Positive

BANK NIFTY 32000 32250 31150 31000 Sideways Positive

USD/INR 69.83 70.11 69.42 69.11 Sideways Positive

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Financial & Economic Wrap Up

The commerce and industry ministry has proposed a customised incentive package to attract foreign investments in sectors such as electronics, chemicals and food processing, an official said. The proposal is part of a 100-day action plan prepared by the Department for Promotion of Industry and Internal Trade (DPIIT), an arm of the ministry, for the new government. According to the plan, India can attract $100 billion of foreign direct investment annually, provided it matches up to the financial incentives of competing countries like Vietnam.

GCMMF, which markets dairy products under the Amul brand, will invest Rs 600-800 crore this fiscal in setting up new milk processing plants and expanding capacity of existing units, the company's MD R S Sodhi said. Gujarat Co-operative Milk Marketing Federation (GCMMF), which posted 13 per cent increase in turnover at Rs 33,150 crore during 2018-19, is expecting 20 per cent increase in its turnover this fiscal year at around Rs 40,000 crore.

Drug maker Lupin on Monday said the US health regulator made two observations after inspection of its Goa plant and cautioned that the facility may be subject to regulatory action; and it may withhold approval of pending applications in which this facility is listed. The company has received a communication from the US Food and Drug Administration (USFDA), classifying the inspection conducted at its Goa facility between January 28 to February 8, 2019 as Official Action Indicated (OAI)... The inspection at the Goa facility had closed with two observations.

Drug firm Granules India on Monday said its subsidiary has received approval from the US health regulator for Methylphenidate Hydrochloride extended-release capsules, used for the treatment of attention deficit hyperactivity disorder (ADHD). The approved product is bioequivalent to the reference listed drug product (RLD), Ritalin LA extended-release capsules of Novartis Pharmaceuticals Corporation.

Glenmark Phramaceuticals on Monday said it has received final approval from the US health regulator for antiplatelet agents Aspirin and extended-release Dipyridamole capsules. The approved product is a generic version of Aggrenox capsules of Boehringer Ingelheim Pharmaceuticals Inc. Glenmark Pharmaceuticals Inc, USA has been granted final approval by the United States Food & Drug Administration (USFDA) for Aspirin and extended-release Dipyridamole capsules in the strength of 25 mg/200 mg.

Indices Performance

Index LTP Previous Close % Change

S&P BSE Sensex 39683 39435 0.63

Nifty 50 11925 11844 0.68

Nifty Midcap 50 5001 4910 1.87

Nifty 500 9805 9722 0.85

Bank Nifty 31648 31213 1.39

Institutional Flows (Cash Segment)

Description (Rs in Cr) BUY SELL NET

FII Activity 4732.40 3517.04 1215.36

DII Activity 3740.30 4068.16 -327.86

FII Derivative Statistics

BUY SELL

No. of Contracts

Amount (INR. Cr.)

No. of Contracts

Amount (INR. Cr.)

Index Futures 75105 6044.13 81997 6631.38

Index Options 2192935 158031.70 2175024 156622.01

Stock Futures 472353 28627.90 478879 29002.38

Stock Options 102208 6429.49 102035 6416.93 Top OI Gainers

Scrip OI: No of Contract LTP OI: Value

% Change in OI

IGL 896 331.4 2464000 13.56

HAVELLS 4893 732.1 4893000 7.3

MRPL 682 62 4774000 4.28

WIPRO 11318 280.1 36217600 2.27

BEML 1708 1005.85 1195600 0.59 Top 5 OI Losers

Scrip OI: No of Contract LTP OI: Value

% Change in OI

BHARATFORG 4482 482.85 5378400 -35.35

PAGEIND 3732 19657.15 93300 -35.32

INFRATEL 2481 279.35 4962000 -34.17

IBULHSGFIN 18027 790.8 9013500 -31.04

IDBI 1725 37.6 17250000 -30.02 Volume Spurt: Cash Segment

Scrip LTP Quantity

Change (%)** Price

Change (%)

AVANTIFEED 400.65 356.59 17.34

NARAYANA HRUDAYALAYA 227.15 745.75 14.12

ASHOKA 145.05 125.65 13.36

Divi s Laboratories Limi 1593.45 314.62 -9.75

Page Industries Limited 19692.1 431.52 -10.26 **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

MRPL 1.67 BEARISH BERGEPAINT 2.00 BEARISH

TITAN 1.46 BEARISH BAJFINANCE 1.21 BEARISH

SIEMENS 1.37 BEARISH MRPL 1.20 BEARISH

MINDTREE 1.34 BEARISH TATACOMM 1.00 BEARISH

SRF 1.26 BEARISH SUNPHARMA 0.95 BEARISH

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Nifty OI – Call Put Analysis

F&O Wrap-up

• Nifty May series future closed at 11915.20, discount of 9.55 Point with respect to nifty spot which closed at 11925

• The Nifty OI wise Put-Call ratio stood at 0.94 and volume wise put-call ratio stood at 0.90

• India VIX has decreased by 1.62 percent and closed at 16.2000

• The open interest in Nifty Futures increased from 17,42,014 to 17,88,304

Quarterly Results Today (Q4)

Adani Transmission Ltd HINDUSTAN COPPER LTD. PFIZER LTD.

AEGIS LOGISTICS LTD. Himadri Speciality Chemical Ltd PUNJAB NATIONAL BANK

AMTEK AUTO LTD IRB INFRASTRUCTURE DEVELOPERS SML ISUZU LIMITED

ASIAN GRANITO INDIA LTD. IRCON International Ltd SPICEJET LTD.

AUROBINDO PHARMA LTD. KOLTE-PATIL DEVELOPERS LTD. STC OF INDIA

BAJAJ GLOBAL LTD. Kwality Limited SUN PHARMACEUTICAL INDUSTRIES

BALMER LAWRIE & CO.LTD. LAKSHMI VILAS BANK LTD. ZYDUS WELLNESS LTD.

Chennai Ferrous Industries Ltd MAN INDUSTRIES (INDIA) LTD.

DCM FINANCIAL SERVICES LTD. Manpasand Beverages Ltd

DECCAN CEMENTS LTD. Max Financial Services Ltd

DEEP INDUSTRIES LTD. Minda Corporation Ltd

EMKAY GLOBAL FINANCIAL SERVICES Minda Finance Ltd

GATI LTD. NMDC LTD.

GUJARAT ALKALIES & CHEMICALS LTD. OPTO CIRCUITS (INDIA) LTD.

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