INTRADAY LIVE MARKET TRADING TIPS FOR 17 MAY 2022

 BUY TATA CHEM 2 LOTS ABOVE 933 TG 938/943 SL 927

 BUY TATA STEEL 2 LOTS ABOVE 1132 TG 1144/1155 SL 1119

LIC:SHARE LISTING ON 17 MAY 2022

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The market broke the six-day losing streak with benchmark indices closing higher amid volatility  on Monday. It had opened on a positive note, tracking global cues and remained volatile through the day, oscillating between gains and losses. Indices closed in the green, led by financials and auto sectors. The BSE Sensex closed at 52,973, up 180 points . It recorded an intraday high of 53,428 and a low of 52,632. The Nifty 50 closed at 15,842, up 60 points . It recorded an intraday high of 15,977 and a low of 15,739.Breadth remains positive. Shares of Life Insurance Corporation (LIC) are seen slipping below their issue price of Rs 949 per share during their stock market debut on Tuesday. The stock could list anywhere between Rs 900-Rs 940, said market player citing grey market activity and weak institutional investor demand during LIC’s Rs 20,577-crore maiden share sale.

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LIC IPO : THE ISSUE PRICE 949

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Sensex and Nifty ended lower for a sixth straight session on Friday, reversing from earlier gains. Both benchmark indexes of share market logged their fifth straight week of losses, the longest weekly losing streak since 2020. Indian markets started on a positive note but later wiped off all the gains in later half. We still believe that markets might fall further on inflation and rate hike worries. Investors are advised to remain invested in quality stocks and keep adding stocks on major dips in SIP mode. Further trading with strict targets and stop loss is recommended. Indian equity markets may witness small corrections in the near term; however, the bounce back will be sharp led by recovery in the domestic cycle and corporate earnings. Technical analysis suggests that Nifty may reclaim 17,800 in one year, while Sensex is likely to top 59,000,The government has fixed the issue price of LIC shares at Rs 949 apiece, the upper end of the IPO price band, ahead of the listing of the country's largest insurer on May 17.However, LIC policyholders and retail investors have got the shares at a price of Rs 889 and Rs 904 a piece, respectively. The Initial Public Offering (IPO) of Life Insurance Corporation (LIC) closed on May 9 and shares were allocated to bidders on May 12. The government sold over 22.13 crore shares or 3.5 per cent stake in LIC through the IPO at a price band of Rs 902-949 a share.

 

NIFTY OUTLOOK OF 13 MAY 2022

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The Sensex and Nifty lost more than 2 per cent on Thursday and the rupee hit an all-time low, as investors shunned riskier assets in the run-up to inflation data which could bolster fears of more rate hikes. Technically, The Nifty has formed a bearish candle on a daily chart. The next immediate support remains at 15650 followed by 15500 levels. While resistance is placed at 16050. Price ticking below the major moving average would be a concern for bulls. Indicators such as RSI and MACD are oversold zones. Hence buying would be expected after sustaining 16150 levels.  On the other hand, Bank nifty has support at 32500 levels followed by 32000 while resistance is placed at 34600 levels. Passenger vehicle major Tata Motors on Thursday reported narrowing of consolidated net loss (attributable to shareholders of the company) to Rs 1,033 crore for the quarter ending March 31, 2022. It reported consolidated net loss of Rs 7,605 crore in the year-ago period and Rs 1,516 crore in December  quarter .Consolidated revenue declined 11% to Rs 78,439 crore as against Rs 88,628 crore in Q4FY21.

HIGH VOLATILE TRADING SESSION EXPECTED ON 12 May 2022

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The key benchmark indices extended losses as the day progressed and weakness spread to other counters. FMCG, IT and select index heavyweights like Reliance Industries and Larsen & Toubro weighed. The key indices are choppy in trade, in line with global markets ahead of key macro-economic data. The US is slated to release its April inflation numbers later today, while China’s factory and consumer prices for the month have come above estimates .India VIX, the volatility gauge, was also above 23.50 levels, which suggests that the market is going to remain highly volatile and under selling pressure. Benchmark indices pared early gains to close lower for the fourth consecutive session on Wednesday amid selling in index majors Infosys and Reliance Industries .Foreign institutional investors remaining in selling mode and jump in crude prices also weighed on sentiment .Despite a strong start, the gains in Sensex fizzled out and ended lower at 54,088.39, down 276.46 points or 0.51 per cent. During the day, the index tumbled 845.55 points or 1.55 per cent to 53,519.30. Nifty dipped 72.95 points or 0.45 per cent to settle at 16,167.10.Nifty continues to be in the negative for the fourth consecutive session while Asian markets are mixed and European markets are up ahead of inflation report from the US. The Nifty may find support around 16000 levels, while on the upside 16400 may act as an immediate hurdle for the Nifty and crossing above the same can attract fresh buying. On the other hand, Bank Nifty has support at 33800 levels while resistance at 35500 levels.

MARKET OUTLOOK FOR 10 MAY 2022

The Sensex and Nifty fell and the rupee hit an all-time low on Monday, weighed down by global economic growth worries due to tightening of lockdown in Shanghai and fears inflation could increase aggressive policy tightening from central banks. Benchmark indices ended lower in the volatile session on May 9 with Nifty finishing just above 16300 amid weak global cues. At close, the Sensex was down 364.91 points or 0.67% at 54470.67, and the Nifty was down 109.40 points or 0.67% at 16301.90. About 1036 shares have advanced, 2353 shares declined, and 140 shares are unchanged. Reliance Industries, Hero MotoCorp, Nestle India, IndusInd Bank and Tata Steel were among the top Nifty losers, while gainers were Power Grid Corporation, HCL Technologies, Bajaj Auto, Infosys and Divis Labs. RIL is top pick and we expect it continue outperforming broader markets (stock price up 9% in 2022 versus -7% for Sensex) . Further value unlocking in digital and retail (with a likely IPO for consumer business) would add value to shareholders return over coming years.

 

MARKET OUTLOOK FOR 9 MAY 2022

The Nifty50 on Friday saw a gap-down start but avoided further fall to eventually end up making an indecisive Doji candle on the daily chart.The index has been trading below its key moving averages now. While a small bounce can't be ruled out, the ongoing pain in the market is unlikely to ease in the near future. A  bear candle on the weekly charts, the fourth week in a row is emphasising the bear domination in the market. Stock markets throughout the globe have become extremely fragile due to increasing inflation, central bank rate hikes have spooked Indian investors. Downward movement to continue in coming sessions.Tracking sharp losses in the US markets overnight and Asian stocks this morning, Indian benchmark indices tanked 1.5% on Friday. The BSE Sensex fell over 1,000 points to 54,668, while the NSE Nifty 50 shed 316 points to 16,366. All frontline stocks were in the red. In the broader markets, the BSE MidCap and SmallCap indices fell up to 2.2%. Sectorally, Nifty consumer durables, realty, IT, auto, financials, and metals were down 2-3%. Stock markets throughout the globe have become extremely fragile due to increasing inflation, central bank rate hikes have spooked Indian investors. Investors must stay with quality stocks with good growth outlook.Reliance Retail’s net profit for the January-March quarter declined 4.8 per cent to Rs 2,139 crore, while its EBIDTA increased 2.4 per cent to Rs 3,705 crore in the same period. The country’s largest retailer cash profit for the quarter rose 3.8 per cent to Rs 2,878 crore.

 

MARKET OUTLOOK OF 05 MAY 2022

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The Sensex and Nifty ended on a flat note, giving up gains from earlier in the session, as the rise in information technology and metal stocks was offset by losses in realty and banks.The NSE Nifty 50 index was up 0.03 per cent or 5.05 points at 16,682.65, while the S&P BSE Sensex rose 0.06 per cent or 33.20 to 55,702.23, with the indexes snapping three consecutive sessions of losses. Nifty50 on Friday failed to capitalise on a gap-up start, as it ended up forming a bearish candle on the daily chart, with a long upper wick, reflecting selling at higher level. But analysts took a sign of relief, as the index did not see a follow-up selling after breaking a key range in the previous day. The level of 16,600 will be a key support to watch out for going ahead. Two-wheeler maker Hero MotoCorp rose 3.8% and was among the top gainers on the Nifty 50, lifting the auto index 0.4%.Dabur India closed 1.7% lower after the fast-moving consumer goods maker reported a 22% decline in consolidated net profit for the March quarter. Adani Power was 4.4% higher. The company's net profit for the March-quarter surged to 46.45 billion rupees from 131.3 million rupees last year. But, it also signals a halt in a sharp follow-through weakness after a sharp downside breakout of the 16,800 level in the previous session. If Nifty50 manages to sustain above 16,600 level and shows upside bounce from here, then one may expect chances of upside bounce in the market.