Trading Idea for 18 May 21 (Tuesday): Important data to know before market opening

The nifty Support level is placed at 14825 followed by 14700. If Nifty starts going up, then the resistance level will be 15025 and 15075 While the Bank Nifty support level is placed at 33000 and 32500. If Bank Nifty starts going up, then the resistance level will be 33775 and 33975.

FII and DII data

Foreign Institutional Investors sold shares of Rs. 2255.84 crore while Domestic Institutional Investors bought shares of Rs. 1948.48 crore in Indian equity market on May 17, as per data NSE data.

Nifty and Bank Nifty Strategy for Tomorrow (18 May 21)

As per Live data at 2100 hrs on 17 May 21, Sgx Nifty showing up by 77 Points. Now Dow Jones showing 209 point down and Nasdaq showing 101 points after sharp rally in american market last week, some profit booking seen ahead of fed meeting. COVID cases is also falling since last one week but FII Data is still negative and DII Data is positive, clearly indicate profit booking at higher level. Following level keep in mind for Tuesday trading session.

FII Data : Negative

DII Data : Postive

F&O Data : Neutral

Sentiment : Positive but expecting profit booking at higher level

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Nifty Trading Strategy For Tomorrow (18 May 21)

If Nifty opens Gap Up near 14950-975 then Immediate resistance 15025

If Nifty opens near 15025 and hold for 10minutes then index may approach 15075-15090 then Immediate Resistance will be 15100-15125.

If Nifty opens at 14825-14875 then index may move towards 14925/14950/14975 then strong resistance at 15025.

Bank Nifty Trading Strategy For Tomorrow (18 May 21)

If Bank Nifty opens Gap Up near 33475-33575 then Immediate support 33775 & 33975

If Bank Nifty opens near 33575-33750 then Immediate Resistance will be 33775 & 33975

Important Support  & Resistance for Tomorrow

Support : (Nifty : 14775 & Bank Nifty : 33000)

Resistance : (Nifty : 15025/15100 & Bank Nifty : 33775/33975)

Latest Corporate Action

• Gland Pharma Limited –  Q4 Profit at Rs. 9969.63 million versus Profit of Rs. 7728.58 million, Revenue at Rs. 34628.76 million versus Rs. 26332.40 million, Other Income at Rs. 1347.76 million versus Rs. 1391.68 million YoY (Good Result).

• Bharti Airtel Limited –  Q4 Profit at Rs. 15110 million versus Profit of Rs. 13501 million, Revenue at Rs. 257473 million versus Rs. 265178 million, Other Income at Rs. 839 million versus Rs. 472 million QoQ (Mixed Result).

• EMCO Limited –  Q4 Profit at Rs. 1409 lakhs versus Profit of Rs. 1741 lakhs, Revenue at Rs. 1460.33 lakhs versus Rs. 2769.77 lakhs, Other Income at Rs. Nil versus Rs. 148.22 lakhs YoY (Poor Result).

• Garden Reach Shipbuilders & Engineers Limited –  Q4 Profit at Rs. 15347.12 lakhs versus Profit of Rs. 16348.17 lakhs, Revenue at Rs. 114083.53 lakhs versus Rs. 143329.53 lakhs, Other Income at Rs. 18759.56 lakhs versus Rs. 22549.94 lakhs YoY (Mixed Result).

• Orient Cement Limited –  Q4 Profit at Rs. 21418.53 lakhs versus Profit of Rs. 8658.97 lakhs, Revenue at Rs. 232408.70 lakhs versus Rs. 242179.72 lakhs, Other Income at Rs. 1834.89 lakhs versus Rs. 1772.07 lakhs YoY (Excellent Result).

• GNFC Limited –  Q4 Profit at Rs. 689 crores versus Profit of Rs. 498.85 crores, Revenue at Rs. 5128.69 crores versus Rs. 5162.42 crores, Other Income at Rs. 237.23 crores versus Rs. 152.67 crores YoY (Good Result).

• WABCO India Limited –  Q4 Profit at Rs. 10380.49 lakhs versus Profit of Rs. 15881.37 lakhs, Revenue at Rs. 186350.01 lakhs versus Rs. 192956.15 lakhs, Other Income at Rs. 3888.86 lakhs versus Rs. 6388.05 lakhs YoY (Poor Result).

• F&O Ban on NSE

Cadila, Can Bank, PNB, Sun TV, BHEL and SAIL securities are under the F&O ban for tomorrow (May 18).

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