“Market Jubilation:Gift Nifty Rockets 3% on Exit Poll Surge, Nifty Sets Sights on New Record Highs”

Friday’s Pick

NIFTY 06 JUNE 22650PE 12500/- ( 10 Lots )

Nifty Technical view

After a rough five days where the stock market kept dropping, things have turned around. The Nifty 50, a key index tracking Indian stocks, has managed to stay above 22,450 for two days in a row now. This positive trend comes after exit polls suggested the NDA party will win the election, Nifty 50 is poised to climb even higher. It could reach 23,000 and then 23,200, with a strong safety net around 22,400-22,300 in case of any dips. One reason for this optimism is that the Nifty 50 has held steady in the middle of a technical indicator called the Bollinger Band, which is another sign of stability.

Put Call Ratio

The Nifty Put-Call ratio (PCR), which reflects market sentiment, dropped to 1.00 on May 31 from 1.12 in the previous session. An increasing PCR, especially when it is above 0.7 or exceeds 1, suggests that traders are selling more Put options than Call options, generally indicating a bullish market sentiment. Conversely, if the PCR falls below 0.7 or approaches 0.5, it suggests that selling in Call options is higher than selling in Put options, indicating a bearish market sentiment.

FII And DII Data

Foreign institutional investors (FIIs/FPIs) ended up selling more Indian stocks than they bought, resulting in a net outflow of Rs 1,613.24 crore. On the other hand, domestic institutional investors (DIIs) were net buyers, acquiring Indian stocks worth Rs 2,114.17 crore during the same period.

Stocks in the news

Adani International Ports Holdings Pte Ltd : Adani International Ports Holdings Pte Ltd (AIPH), a wholly-owned subsidiary of Adani Ports and Special Economic Zone Ltd (APSEZ), has signed a 30-year concession agreement with the Tanzania Ports Authority to operate and manage Container Terminal 2 at the Dar es Salaam Port in Tanzania. Dar es Salaam Port is a gateway port with a well-connected network of roadways and railways.

Nifty and Bank Nifty Support and Resistance level


Resistance 22,500, 22,565, and 22,720
Support based 22,480, 22,435, and 22,360


Resistance 49,520, 49,630, and 49700
Support 48,680, 48,550, and 48,340

Index Future levels

Nifty Futures Buy above 23500. The suggested targets for this are 23,700 and 23,800, with a stop loss set at ,23,150.

Bank Nifty future buy above 49500 index is expected to see up side levels of 49800 and 50000 and level 49150 will act as a stop loss.

Today’s Fundamental Pick

Buy at ₹ 1039, target ₹1173, stop loss ₹986.

Adani Total Gas Ltd. is a prominent energy company in India, established in 2005. It is a wholly-owned subsidiary of the Adani Group, one of India’s largest and most diverse infrastructure conglomerates. The company specializes in the energy sector, supplying natural gas, LPG, and related products and services. As one of the largest natural gas suppliers in India, Adani Total Gas Ltd. boasts an extensive network of pipelines and storage facilities nationwide. Additionally, the company engages in the retail sale of LPG cylinders and gas stoves. The primary products offered by Adani Total Gas Ltd. include natural gas, LPG, and related items such as LPG cylinders, gas stoves, and various accessories.

Adani Total Gas Ltd. has seen its revenue grow steadily over the last four quarters, increasing from ₹1,060 crore to ₹1,180 crore, with an average quarterly increase of 3.5%. Over the past week, the stock price of Adani Total Gas Ltd. has risen by 6.9%. In the March 2024 quarter, foreign institutional holdings slightly increased from 13.06% to 13.14%, while promoter holdings remained unchanged at 74.80%.
However, over the past three years, GAIL India Ltd. has outperformed Adani Total Gas Ltd., delivering a 91.0% return, which is 118.9% higher than the returns from Adani Total Gas Ltd. during the same period.

Happy Trading!

Commodity Samachar
Learn and Trade with Ease

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