Trade Setup: Top 13 things to know before market opens on May 27, 2022

Indian equity benchmarks rebounded to end higher on
Thursday. The trading started on a positive note, taking some support from a
private report that India’s economy is expected to have grown 9.2% in the
financial year ended March 2022, after having contracted 7.3% in the previous
financial year, helped by resilience in the rural economy, an uptick in bank
credit and rising GST collection.

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The Nifty50 has formed a hammer pattern on the daily
chart, which suggests a bullish reversal post-correction, according to Subash
Gangadharan, Senior Technical and Derivative Analyst at HDFC Securities.

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“We remain open to a pullback rally in the very near
term, but we must remember that the intermediate trend remains negative. The
bears would gain more control once the recent intermediate low of 15,735 is
broken,” he said.

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Indian
Indices

Sensex rallied 503.27 points or 0.94% to 54,252.53 and
Nifty was up by 144.35 points or 0.90% to 16,170.15 in the previous session. Sensex
touched a high and low of 54,346.22 and 53,425.25, respectively. There were 23
stocks advancing against 7 stocks declining on the index. Nifty traded in a
range of 16,204.45 and 15,903.70. There were 37 stocks advancing against 13
stocks declining on the index.

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Broader
Indices

The broader indices ended in green with the BSE Midcap index
up by 1.44%, while the Small cap index was up by 0.78%. On the sectoral front, Metal was up
by 3.35%, Bankex was up by 2.15%, Basic Materials up by 1.76%, Realty up by
1.43% and PSU up by 1.42%, while FMCG was down by 0.09% was the only losing index
on BSE.

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India
VIX Index

Nifty or India VIX, a gauge of the market’s expectation
of volatility over the near term, fell 10.15% to 22.72 on Thursday.

SGX Nifty

The trends on SGX Nifty indicate a negative opening for
the index in India with a 45-points loss. The Nifty futures were trading at
16,246.00 on the Singaporean Exchange around 07:15 hours IST.

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Support
and Resistance levels

The key support level for the Nifty is placed at 15,981,
followed by 15,792. If the index moves up, the key resistance levels to watch
out for are 16,282 and 16,394, according to pivot charts.

US Markets

The S&P 500 rose 79.11 points, or 2%, to 4,057.84.

The Dow Jones Industrial Average rose 516.91 points, or 1.6%, to 32,637.19.

The Nasdaq rose 305.91 points, or 2.7%, to 11,740.65.

The Russell 2000 index of smaller companies rose 39.07 points, or 2.2%, to 1,838.24.

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Asian
Markets

Asian markets finished mostly lower on Thursday. The
Nikkei 225 fell 0.27% and the Hang Seng fell 0.27%. The Shanghai Composite rose
0.50%.

European
Markets

European markets were higher on Thursday, Germany’s DAX
was up by 1.59% while France’s CAC 40 was up by 1.78% and London’s FTSE 100 was
up by 0.56%.

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Major News Headlines

Hindalco
Industries Q4 Results: Net profit doubles to Rs 3,851 crore, revenue rises 38%

Hindalco Industries’ fourth-quarter net profit doubled
year on year to Rs 3,851 crore as against Rs 1,928 crore recorded a year ago.
Consolidated revenue for one of the largest metals companies in India surged
37.7% to Rs 55,764 crore in the March quarter as compared to a revenue of Rs
40,507 crore registered in the year-ago period. The growth was supported by the
surge in commodity prices and higher volumes. The company recommended a
dividend of 400% (Rs 4 per share) for 2021-22 as against 300% (Rs 3 per share)
for 2020-21.

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Tata
Power Renewable commissions 100 MW solar project in Maharashtra

Tata Power Renewable commissioned a 100 MW project for
MSEDCL in Partur, Maharashtra. The installation comprises over 4,11,900
monocrystalline PV modules and is expected to reduce CO2 emissions by around
234 million tonnes annually. With this addition of 100 MW, the renewable
capacity in operation for Tata Power now stands at 3,620 MW with 2,988 MW of
Solar and 932 MW of Wind. Tata Power’s total Renewable capacity is 4,920 MW
including 1,300 MW of Renewable projects under various stages of
implementation.

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Bulk
Deal data

ANMOL GOBINDRAM SEKHRI sold 3,37,598 shares in Apollo Sindoori Hotels Limited at Rs 564.14 per share on the NSE.

MARUTI NANDAN COLONIZERS PRIVATE LIMITED bought 3,01,771 shares in Bhartiya Intl Limited at Rs 158.00 per share on the NSE.

VISHESH GUPTA sold 51,26,217 shares in Integra Essentia Limited at Rs 0.16 per share on the NSE.

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JAIN SAMTA sold 19,85,000 shares in Hindustan Motors Limited at Rs 13.00 per share on the NSE.

CENTUARY FIBRE PLATES PRIVATE LIMITED sold 50,000 shares in N.B.I. Ind. Fin. Co. Ltd at Rs 2,450.00 per share on the NSE.

ANUSTUP TRADING PRIVATE LIMITED sold 71,617 shares in NDR Auto Components Limited at Rs 371.47 per share on the NSE.

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OM PRAKASH BANTHIA sold 78,000 shares in Reliance Indl Infra Limited at Rs 820.47 per share on the NSE.

SHIKHA AGARWAL bought 12,50,364 shares in S.E. Power Limited at Rs 19.25 per share on the NSE.

ZENAB AIYUB YACOOBALI bought 3,55,500 shares in Vaxtex Cotfab Limited at Rs 34.34 per share on the NSE.

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DII
and FII data

Foreign institutional investors (FIIs) sold shares worth
a net Rs 1,597.84 crore, while domestic institutional investors (DIIs) bought
shares worth a net Rs 2,906.46 crore in the Indian equity market on May 26, as
per provisional data available on the NSE.

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NSE
F&O Ban

The National Stock Exchange has not put any stock under
the F&O ban for May 27. Securities in the ban period under the F&O
segment include companies in which the security has crossed 95% of the
market-wide position limit.