Morning-Outlook-Feature-Image

Nifty traded within a range during the first half of the trading session, but selective buying in heavyweight stocks, particularly from the banking and IT space, spurred a sharp surge as the day progressed.

India’s benchmark Sensex and Nifty closed at fresh record all time highs led by gains in banking and IT stocks. The surge in markets comes a day after RBI presented data of the current account in the fourth quarter of the fiscal year 2023-24.

Nifty has finally surpassed the 23,600 hurdle after two weeks of consolidation, reaching a new record high. We maintain our positive outlook for the nifty and recommend buy on decline, Nifty is now targeting the next milestone of 24,000 next trigger for the market would be upcoming 1st Quarter results.

Nifty will face short term Resistance at 23900/24000 and the support at 23,600/23500 levels while sharp short covering would emerge above 24000 levels.

TECHNICAL PICKS

COMPANY NAME CMP SL TARGET RATIONALE
APOLLO HOSPITAL 6295.35 6220 6400/6500 Apollo Hospital is breaking its short-term trading range and witnessing a range breakout. A trade can be initiated between 6295 and 6270 for a target price of 6400/6500 with a stop loss of 6220.
INFY 1541.95 1525 1580/1600 Infosys (Infy) is trading above its flag breakout on the daily chart also above its key moving averages. A buy can be initiated at 1541 with a stop loss of 1525 for a target price of 1580/1600.

DERIVATIVE PICKS

Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
LICHSGFIN.24.06 Jun 766.3 4.32 6.25 16947000 OBEROIRLTY.24.06 Jun 1831.15 -4.17 2.86 4461100
APOLLOTYRE.24.06 Jun 520 4.31 11.78 10514500 BPCL.24.06 Jun 296.50 -2.74 8.19 51656400
SHRIRAMFIN.24.06 Jun 2987.5 3.85 2.31 3391800 PETRONET.24.06 Jun 317.30 -2.02 21.51 33387000
HDFCAMC.24.06 Jun 4105.3 3.16 9.75 2192550 AARTIIND.24.06 Jun 695.30 -1.61 5.48 7039000
AXISBANK.24.06 Jun 1268.45 3.14 13.93 31350000 ZEEL.24.06 Jun 148.85 -1.46 0.58 1.13E+08
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
CUB.24.06 Jun 167.65 3.36 -10.34 14705000 UBL.24.06 Jun 1993.75 -4.47 -7.3 1213600
MUTHOOTFIN.24.06 Jun 1785.75 2.77 -8.89 3577200 NAVINFLUOR.24.06 Jun 3543.45 -3.29 -44.49 420150
MCX.24.06 Jun 3931.35 2.59 -7.3 1661200 VEDL.24.06 Jun 450.65 -2.82 -7.67 46775100
JKCEMENT.24.06 Jun 4339.35 2.43 -31.66 171875 INDIACEM.24.06 Jun 229.5 -2.42 -21.22 7685000
L&T FINANCE LIMITED.24.0 185.05 2.32 -4.09 34254774 NMDC.24.06 Jun 258.3 -2.38 -17.77 34929000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Britannia Ind Ltd. 5352.05 1.02 160890 358433 77.35 Nifty50 23721.3 0.78 71409
Infosys Limited 1541.95 0.97 4551525 4093833 73.56 Niftybank 52606 1.74 71409
Max Financial Services l 976.15 -1.2 512230 584750 71.7 Nifty it 35426.9 0.81 71409
Nestleind 2515.45 -0.58 312730 507344 70.06 India Vix 14.31 1.78 82608
Zydus Lifesciences Limit 1071.75 -0.8 1045293 589633 68.46 Nifty Fmcg 56246.35 -0.26 71409
Muthootfin 1780.8 2.84 838901 391578 68.17 Nifty Pharma 19532.3 0.06 71409
Bharti Airtel Limited 1414.95 -0.34 6353748 4222482 68.15 Nifty Realty 1115.5 -1.75 71409
Icici Lombard General In 1778 0.37 802613 605598 67.8 Nifty Auto 25250.25 -0.24 71409
Hindalco Ind Ltd. 685.5 0.04 5778636 5302860 66.17 Nifty Metal 9857.45 -0.7 71409
Oberoi Realty Limited 1829.3 -4.07 1541211 686965 65.46 Nifty Media 1991.5 -0.5 71409

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Bank loan and Deposit growth on 28th June

INR :  manufacturing PMI on 1st July 24

INR :  Parliament Session (24th June, 2024 to 3rd July, 2024).

USA-27th June US Q1 GDP

USA-27th June Jobless Claims and 1st presidential debate

NEWS UPDATES

  • India’s external debt at end-March 2024 at $663.8 billion, an increase of $39.7 billion over its level at end-March 2023
  • Shriram Finance does not see stress in rural financing, eyes growth in CV demand
  • Shilpa Medicare: US FDA issues form 483 with zero observations for Bio Analytical Lab, Unit 7, Nacharam, Hyderabad.
  • Tech Mahindra Board approves merger of arm Healthnxt Inc with parent company Tech Mahindra (Americas)
  • ICICI Bank Mcap hits $100 billion today
  • Hitachi energy receives order worth ₹790 cr from co’s Australia arm towards execution of Marinus Link project
Source: Moneycontrol, Economic Times,  Indian Express, Business Today, Livemint, Business Standard

BOARD MEETINGS

Company Name Purpose Meeting Date Company Name Purpose Meeting Date
HAL Final Dividend 26-Jun-24 GOLDENCREST A.G.M.;General 27-Jun-24
INOXGREEN General 26-Jun-24 INDSWFTLAB Preferential Issue of shares;Issue Of Warrants 27-Jun-24
MARSONS General 26-Jun-24 JSL General 27-Jun-24
NRBBEARING General 26-Jun-24 MBLINFRA General 27-Jun-24
QUEST General 26-Jun-24 ODYCORP General 27-Jun-24
SOURCENTRL General 26-Jun-24 PMCFIN General 27-Jun-24
SREEL General 26-Jun-24 QUANTBUILD General 27-Jun-24
SUMERUIND General 26-Jun-24 RBLBANK Increase in Authorised Capital;General 27-Jun-24
TSPIRITUAL A.G.M.;General 26-Jun-24 RISHYRN General 27-Jun-24
ZEEMEDIA General 26-Jun-24 SAPPL Right Issue of Equity Shares 27-Jun-24
AUBANK General 27-Jun-24 SATIN General 27-Jun-24
CCAL Preferential Issue of shares;A.G.M.;General 27-Jun-24 ALEXANDER A.G.M. 28-Jun-24
CHANDRIMA Increase in Authorised Capital;Preferential Issue 27-Jun-24 CENLUB General 28-Jun-24
COARO Voluntary Delisting of Shares;General 27-Jun-24 GOCOLORS General 28-Jun-24
DHAMPURE A.G.M. 27-Jun-24 KACL General 28-Jun-24
GENPHARMA A.G.M.;General 27-Jun-24 KIMIABL General 28-Jun-24

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
AEGISLOG 26-Jun-24 Final Dividend – Rs. – 2.0000 INDUSINDBK 28-Jun-24 Final Dividend – Rs. – 16.5000
DIGIFIBRE 26-Jun-24 Income Distribution (InvIT) KPIL 28-Jun-24 Final Dividend – Rs. – 8.0000
ISCITRUST 26-Jun-24 InvIT – Return of Capital KSOLVES 28-Jun-24 Interim Dividend – Rs. – 8.0000
WELSPUNLIV 26-Jun-24 Final Dividend – Rs. – 0.1000 MAHSCOOTER 28-Jun-24 Final Dividend – Rs. – 60.0000
AURIONPRO 27-Jun-24 Bonus issue 1:1 MAWANASUG 28-Jun-24 Final Dividend – Rs. – 4.0000
SHAREINDIA 27-Jun-24 Stock  Split From Rs.10/- to Rs.2/- NAM-INDIA 28-Jun-24 Final Dividend – Rs. – 11.0000
SPLPETRO 27-Jun-24 Final Dividend – Rs. – 7.0000 RECLTD 28-Jun-24 Final Dividend – Rs. – 5.0000
TITAN 27-Jun-24 Dividend – Rs. – 11.0000 RPGLIFE 28-Jun-24 Final Dividend – Rs. – 16.0000
AEROFLEX 28-Jun-24 Final Dividend – Rs. – 0.2500 SWARAJENG 28-Jun-24 Final Dividend – Rs. – 95.0000
ANDHRAPET 28-Jun-24 Dividend – Rs. – 2.0000 SYNGENE 28-Jun-24 Final Dividend – Rs. – 1.2500
AVONMORE 28-Jun-24 Stock  Split From Rs.10/- to Rs.1/- VAIBHAVGBL 28-Jun-24 Final Dividend – Rs. – 1.5000
BAJAJHLDNG 28-Jun-24 Final Dividend – Rs. – 21.0000 WELCORP 28-Jun-24 Final Dividend – Rs. – 5.0000
BANKBARODA 28-Jun-24 Dividend – Rs. – 7.6000 GEOJITFSL 01-Jul-24 Final Dividend – Rs. – 1.5000
DBOL 28-Jun-24 Final Dividend – Rs. – 2.5000 GHCL 01-Jul-24 Final Dividend – Rs. – 12.0000
GICHSGFIN 28-Jun-24 Final Dividend – Rs. – 4.5000 GHCLTEXTIL 01-Jul-24 Final Dividend – Rs. – 0.5000
GPIL 28-Jun-24 Buy Back of Shares TATACOMM 01-Jul-24 Final Dividend – Rs. – 16.7000

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