Outlook-22-07-2021NIFTY:

The Nifty opened at 15736.60 with a big gap up of 104 points. The index recorded its intraday low at 15726.30 and started moving upwards. Prices have rallied almost 80 points and then started moving downwards. The decline fizzled out quickly and the index recorded its intraday high at 15834.80. The index finally closed at 15824.05 with a gain of 191.95 points. All the sectoral indices have closed with gains. The Metal, IT and Financial have outperformed while the Auto and FMCG underperformed and closed with minor gains. The Nifty continued moving volatile for the third consecutive trading day. However it was a trend day on the upside where prices have recorded its intraday low near the opening tick and intraday high near the closing tick. On the last trading day Tuesday, Prices have seen a breakdown from 15650 support and we suggested waiting for a follow through on the downside to confirm this breakdown. That follow through did not come.

Prices have come back in the range of 15650-15900.

BANK NIFTY:

Bank Nifty opened at 34774.55 with a big gap up of 354 points. The index moved further on the upside and recorded its intraday high at 34989.10. Prices then saw a decline and recorded its intraday low at 34557.85. PSU and Private Banks both have seen an upside move and closed with a gain of almost 1%. Within the index ICICI Bank contributed highest while AU Bank the lowest.

Bank Nifty continued moving volatile for the third day. First gap up and then a steep decline. Prices have come back above 34500 support.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
BHARTI AIRTEL 546.7 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 542 and for the target 555
LALPATH 3332.95 SELL The stock has given a breakdown from a narrow trading range. The stock can be sold at CMP with a stop at 3375 and for the target 3280

 

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
LT 1640 CE BUY 18.9 CMP 14 25 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
JUBLFOOD.21.07 Jul 3411.05 10.91 24.7 1794500 HINDUNILVR.21.07 Jul 2382.5 -2.22 12.86 6944400
APOLLOHOSP.21.07 Jul 4004.95 2.89 21.32 2377000 LALPATHLAB.21.07 Jul 3345 -1.09 11.3 453000
MPHASIS.21.07 Jul 2395.1 0.76 20.98 927550 BERGEPAINT.21.07 Jul 855.05 -1.3 8.38 3570600
ICICIPRULI.21.07 Jul 640.15 5.5 19.39 7158000 BAJAJ-AUTO.21.07 Jul 3855.95 -1.49 6.71 2158000
ADANIPORTS.21.07 Jul 694 3.06 14.5 55980000 CIPLA.21.07 Jul 952.5 -0.49 3.71 8709350
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
FINNIFTYW.21.07 Jul 16507.5 1.15 -96.97 200 ACC.21.07 Jul 2292.45 -0.98 -7.51 4134000
BANKNIFTY.21.07 Jul 34740.5 0.73 -8.4 2115650 ASIANPAINT.21.07 Jul 3107.9 -1.91 -6.63 4075800
NIFTY.21.07 Jul 15823.45 1.19 -6.58 8830850 NAM-INDIA.21.07 Jul 398.5 -0.13 -4.07 2524800
ONGC.21.07 Jul 115.55 2.26 -3.36 48340600 ALKEM.21.07 Jul 3370 -1.17 -3.88 628600
SBILIFE.21.07 Jul 1030.5 1.24 -3.21 4137750 M&M.21.07 Jul 760.5 -0.03 -1.25 11044600

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Eicher Motors Ltd 2560.1 0.21 1321161 668030 75.05 Nifty Metal 5348.95 2.99 78933
Indraprastha Gas Limited 539.5 0.24 3504984 2465644 71.84 Nifty it 29779.95 1.8 78933
Hdfc Bank Ltd. 1448.7 0.38 6603557 8568066 70.42 Nifty Realty 395.95 1.75 78933
Infosys Limited 1590.2 2.59 7854575 3498740 69.01 Nifty Media 1771.4 1.5 78933
Icici Bank Ltd. 655.95 2.19 13123569 8973728 68.14 Nifty Energy 19600.05 1.5 78933
Tata Consumer Products l 764.2 0.94 1464419 1439133 65.56 Nifty 50 15824.05 1.23 78933
Icici Lombard General In 1543.85 4.51 672911 273337 61.18 Nifty Bank 34677.3 0.76 78933
Kotak Mahindra Bank Limi 1707.2 0.27 1858253 1303065 60.78 Nifty Pharma 14575.4 0.66 78933
Tata Consultancy Serv Lt 3216.35 0.33 2859334 1090944 60.21 Nifty Auto 10235.8 0.13 78933
Torrent Power Limited 473 -0.57 929153 535790 60.14 Nifty Fmcg 36263.6 0.09 78933

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  FX Reserves, USD on 23rd July, 2021 •USD: New Home Sales (Jun) on 26th July, 2021

•USD: Core Durable Goods Orders (MoM) (Jun) on 27th July, 2021

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NEWS UPDATES

•India announced incentives worth Rs 6,322 crore to boost domestic production of high grade specialty steel used in automobiles to home appliances. The government will offer production-linked incentives for five years from 2023-24 to 2027-28, according to a media statement on PIB. The scheme would cover coated/plated steel products, high strength/wear resistant steel, specialty rails; alloy steel products, steel wires and electrical steel.

•Hindustan Unilever Ltd.’s first-quarter profit missed estimates and its margin contracted on higher raw material costs. Net profit of India’s largest consumer goods maker fell 3.7% sequentially to Rs 2,070 crore in the quarter ended June, according to its exchange filing. That compares with the Rs 2,211.3-crore consensus forecast of analysts tracked by Bloomberg. The company’s volume rose 9% over a year earlier in the first quarter, a period of local lockdowns to contain the second wave of the pandemic.

•UltraTech Cement Ltd.’s first-quarter profit declined on lower revenue and higher costs, but surpassed estimates. The cement maker’s net profit fell 4% quarter-on-quarter to Rs 1,703 crore in the three months ended June, it said in an exchange filing. That compares with the Rs 1,445-crore consensus estimate of analysts tracked by Bloomberg. A sequential decline in revenue mainly reflected in the bottom line even as other income rose 3.4 times to Rs 204.8 crore.

•Vedanta group firm Hindustan Zinc Ltd (HZL) on Thursday reported a 45.9 per cent rise in net profit to Rs 1,983 crore for the quarter ended on June 30, 2021, driven by a recovery in metal prices and higher volumes. The company had posted a net profit of Rs 1,359 crore in the corresponding quarter of the previous fiscal.

Source: Economic Times,  Indian Express  ,Business Today, Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AMBUJACEM Quarterly Results 23-Jul-21 NECLIFE Audited Results;General;A.G.M. 23-Jul-21
ATUL Quarterly Results 23-Jul-21 PANACEABIO Quarterly Results 23-Jul-21
CIGNITI Quarterly Results 23-Jul-21 POWERINDIA Quarterly Results 23-Jul-21
CROMPTON Quarterly Results 23-Jul-21 RELIANCE Quarterly Results 23-Jul-21
CYBERTECH Quarterly Results 23-Jul-21 SBICARD Quarterly Results 23-Jul-21
FEDERALBNK Quarterly Results 23-Jul-21 SESHAPAPER Quarterly Results 23-Jul-21
INDUSINDBK General 23-Jul-21 SKFINDIA Quarterly Results 23-Jul-21
JSWSTEEL Quarterly Results 23-Jul-21 SYMPHONY General;Quarterly Results 23-Jul-21
JUBLPHARMA Quarterly Results 23-Jul-21 UNITDSPR Quarterly Results 23-Jul-21
KPITTECH General 23-Jul-21 URJAGLOBA ESOP;Rights Issue;A.G.M.;Results 23-Jul-21
MARKSANS Issue Of Warrants 23-Jul-21 WENDT Quarterly Results 23-Jul-21
MJCO Quarterly Results 23-Jul-21 YESBANK Quarterly Results 23-Jul-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ANGELBRKG 23-Jul-21 Interim Dividend – Rs. – 5.1500 NOCIL 26-Jul-21 Final Dividend – Rs. – 2.00
ELGIEQUIP 23-Jul-21 Final Dividend – Rs. – 0.80 PAUSHAKLTD 26-Jul-21 Final Dividend – Rs. – 6.00
KARURVYSYA 23-Jul-21 Dividend – Rs. – 0.50 TIDEWATER 26-Jul-21 Stock  Split From Rs.5/- to Rs.2/-
PATINTLOG 23-Jul-21 Final Dividend – Rs. – 0.10 TIDEWATER 26-Jul-21 Bonus issue 1:1
SEACOAST 23-Jul-21 Dividend – Rs. – 0.50 BAYERCROP 27-Jul-21 Final Dividend – Rs. – 25.00
SPS 23-Jul-21 Bonus issue 5:4 CHOLAHLDNG 27-Jul-21 Final Dividend – Rs. – 0.5500
TECHM 23-Jul-21 Final Dividend – Rs. – 15.00 EPL 27-Jul-21 Final Dividend – Rs. – 2.0500
TECHM 23-Jul-21 Special Dividend – Rs. – 15.00 GABRIEL 27-Jul-21 Final Dividend – Rs. – 0.70
EVEXIA 26-Jul-21 Stock  Split From Rs.10/- to Rs.2/- HCLTECH 27-Jul-21 Interim Dividend – Rs. – 6.00
NITTAGELA 26-Jul-21 Dividend – Rs. – 3.00 HIGHENE 27-Jul-21 Final Dividend – Rs. – 10.00

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