Today Stock Market Trading Tips-Sensex flat but Midcap index falls 1.5%; Nifty Bank sheds 200 pts

The market continued to be rangebound as investors digested better-than-expected Q4 GDP data, which shows India is the fastest growing economy, and shifted focus to global trade concerns, and the movement in crude oil prices & rupee.

The Nifty Midcap index continued to underperform frontliners, extending losses to 1.5% while all sectoral indices are in the red barring Auto.

Auto index gained more than half a percent following good May sales data from Bajaj Auto, Maruti and Ashok Leyland. Tata Motors and Hero Motocorp gained 2 percent each ahead of sales data.

The market remained rangebound in morning trade, as investors after digesting better-than-expected Q4 GDP data shifted focus to global trade concerns, and the movement in crude oil prices & rupee.

The Nifty Midcap index continued to underperform frontliners, falling half a percent.

Select banks and FMCG stocks are under pressure while technology, metals and pharma stocks supported the market.

Asian markets remained mixed with investors cautious over trade tensions after the US announced tariffs on steel and aluminium imports.

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Technical outlook of top 2 stocks

·        TECHM FUT

Trend gains for the third consecutive day and ends near around its resistance if able to give breakouts than it may hits fresh 52-weeks high.

INTRADAY

R1

730

Stock Info

R2

745

R3

760

VOLUME

9674400

LEVEL

719

DAY HIGH

716.85

S1

660

DAY LOW

679.85

S2

640

MARKET LOT SIZE

1200

S3

600

VWAP

693.78

All over trends

BULLISH

·        NIITECH FUT

Stock heading towards its trend line resistance, breakouts are expected in coming session as well as IT sector is looking strong for coming session.

INTRADAY
R1	1138	Stock Info
R2	1169
R3	1188	VOLUME	4785750
LEVEL	1126.50	DAY HIGH	1125
S1	1089.50	DAY LOW	1089.50
S2	1065	MARKET LOT  SIZE	750
S3	1027.70	VWAP	1111.82
All over trends	BULLISH

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Stock Market Corner

Stock Corner

1.                   Tata Motors Limited (TML) signed a Memorandum of Understanding (MoU) with the State Government of Maharashtra for deployment of 1,000 Electric Vehicles (EV) across its range of passenger and commercial vehicles in the State.

2.                   HDFC Bank gained almost four percent during the morning trade as investors made big bets ahead of the FII buying window being opened on June 1. The SEBI decided to open the window for institutional trading series (6 lakh series) just for a day on June 1, 2018. In fact, the regulator has decided to scrap the mechanism from July 1 onwards. This has led to an increase in demand for the stock.

3.                   Tata Consultancy Services share price fell nearly 2 percent after the stock adjusted for bonus share issue. The board of directors of the company, on April 19, had recommended bonus issue of equity shares in the ratio of one equity share of Re 1 each for every one equity share of Re 1 each held by the shareholders of the company as on the record date. TCS has fixed record date as June 2 for determining the entitlement of members to receive bonus shares.

4.                   Bank of Baroda looks to sell NPAs worth Rs2,954.28cr and has invited expression of interest by June 15.

5.                   Manpasand Beverages hit 20% lower circuit limit for the second straight day on account of the resignation of its auditing firm with effect from May 26, 2018.

6.                   Vedanta ordered by Tamil Nadu government to seal and permanently close the copper smelter plant at Tuticorin.

7.                   Dalmia Bharat Sugar to sell its wholly-owned subsidiaries' Dalmia Solar Power and Dalmia Sugar Ventures to the promoters.

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Daily Equity Report

Outlook of Nifty & Bank Nifty Today

Nifty Outlook:-

Nifty witnessed a volatile trading session before short covering in the second half of the session and the gains in global stocks on easing of political concerns in Italy also lifted market sentiment. Investors awaited March quarter GDP growth numbers due later in the day helped Nifty ends 132.90 points higher. Indications are positive and we believe Nifty will test 10,800 shortly.

Nifty Future Support-Resistance

R1/R2

10820/10950

S1/S2

10600/10500

Daily Chart:

Bank Nifty Outlook:-

Bulls were back with vengeance on Thursday, the expiry day of May futures & options contracts as the late rally helped Bank Nifty gained more than 2 percent, driven by HDFC Bank, Indusind Bank and IDFC Bank etc. Bank Nifty closed with big bullish candle as well as near around its immediate resistance, buying may seen.

Bank Nifty Future Support-Resistance
R1/R2	27100/27660
S1/S2	26330/25920

Daily Chart:

Technical Outlook

Top Gainers
ADANIPORTS	393.5
HDFCBANK	2,130.00
INDUSINDBK	1,960.60
TECHM	709

Top Losers
SUNPHARMA	482.35
TATAMOTORS	283.15
DRREDDY	1,927.85
HEROMOTOCO	3,550.00

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