morning-Outlook-7juneNIFTY:

The Nifty opened at 15712.50 with a gap up of just 22 points. The index rallied further and recorded its intraday high at15733.60. Prices then saw a sharp downside move with minor rallies and recorded its  intraday low at 15622.35. The index finally closed at 15670.25 near its intraday low with a loss of 20 points. The Metal sector outperformed and ended with a gain of more than 1% while Banks have unperformed and ended with a loss of almost 1%. The Nifty traded very volatile and ended with a loss below 15700. The index keeps on recording lifetime highs but also failed to sustain there. On the 30 minutes time frame chart, the index is developing a bearish Head & Shoulder. The neckline for this pattern is around 15630. If the index confirms this pattern then the target comes around15530. Also a move above 15700 will cancel this pattern.

We have been discussing that the index has seen a move of more than 700 points without much of a correction or consolidation. The last few days of price action are giving us a sign that a phase of consolidation and correction is very near.

 

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BANK NIFTY:

Bank Nifty opened at 35657.85 without much of a gap. Prices rallied first and recorded its intraday high at 35810.90. The index then saw a sharp downside more and recorded its intraday low at 35176.15. PSU and Private Banks both have seen a decline and closed lower. Within the index, Indusind Bank contributed highest while HDFC Bank the lowest. It was a volatile day in the index where prices have seen a sharp move in both direction and finally ended with a loss.

We have identified a narrow trading range with support around 34900 and resistance around 35800 in the index.

A breakout may give us a trade. Buy above 35900 or sell below 34800.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
ASHOKLEY 128.40 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 125 and for the target 134
TATAMOTORS 334.95 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 330  and for the target 342

 

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
M&MFIN 170 CE BUY 7.50 CMP 5.50 11 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
IBULHSGFIN.21.06 Jun 264 14.81 41.05 38216800 FINNIFTYW.21.06 Jun 16810.15 -0.04 187.5 920
UBL.21.06 Jun 1347.55 6.11 29.15 1547700 RBLBANK.21.06 Jun 215.45 -1.82 32.11 30183200
BHARATFORG.21.06 Jun 753.5 7.74 26.84 10377000 IGL.21.06 Jun 527 -0.44 18.52 7753625
LTTS.21.06 Jun 2744 1.17 26.24 454200 ICICIGI.21.06 Jun 1455.1 -1.73 17.42 1266075
LICHSGFIN.21.06 Jun 532 6.02 23.55 9214000 MFSL.21.06 Jun 960.3 -0.37 10.87 2306850
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
INDUSINDBK.21.06 Jun 1013.4 0.24 -3.38 15854400 PNB.21.06 Jun 43.1 -1.82 -5.69 312000000
MOTHERSUMI.21.06 Jun 252.8 0.34 -2.34 33659500 TITAN.21.06 Jun 1687.05 -0.47 -2.73 4362750
BEL.21.06 Jun 153.15 0.76 -2.08 36803000 MARICO.21.06 Jun 489.8 -1.49 -2.58 6332000
AARTIIND.21.06 Jun 1689.85 1.06 -1.88 974950 GODREJPROP.21.06 Jun 1412.25 -0.12 -2 1655550
RAMCOCEM.21.06 Jun 991.15 0 -1.66 1717000 BANKBARODA.21.06 Jun 82 -0.06 -1.85 189469800

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Dabur India Ltd. 544.05 0.6 1964169 1409226 68.05 Nifty Metal 5339.15 1.35 151761
Piind 2710.1 1.26 189368 131123 67.52 Nifty Media 1817.95 1.02 151761
Itc Ltd. 208.75 -0.14 30126021 31220588 66.91 Nifty Auto 10735.75 0.83 151761
Hcl Technologies Ltd. 936.55 -0.31 3550303 2775056 66.64 Nifty Realty 353.8 0.48 151761
Britannia Ind Ltd. 3489.3 -0.2 312826 245917 64.56 Nifty Energy 20368.05 0.2 151761
Sbi Life Insurance Compa 989.15 0.23 996919 1014866 58.84 Nifty it 26996.75 0.03 151761
Mah & Mah Ltd. 804.6 0.32 5084092 2865141 57.29 Nifty Pharma 14101.55 -0.09 151761
Asian Paints Limited 2924.9 -0.36 1509084 790140 56.26 Nifty 50 15670.25 -0.13 151761
Icici Lombard General In 1447.5 -1.85 1058971 180085 55.81 Nifty Fmcg 35138 -0.36 151761
Larsen & Toubro Limited 1537.55 1.77 5677538 1659300 54.84 Nifty Bank 35291.65 -1 151761

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Industrial Production YoY APR on 11th  June, 2021

INR: Foreign Exchange Reserves on 11th  June, 2021

•USD : Trade Balance (Apr) on 8th June, 2021

•USD  JOLTs Job Openings (Apr) on 8th June, 2021

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NEWS UPDATES

  • Consumer confidence in the current period, which has been in negative territory since July 2019, fell to a record low amid disruptions caused by the second wave of the Covid-19 pandemic. The current situation index dropped to 48.5 in May, according to a survey conducted by Reserve Bank of India, from 53.1 in March.
  • Bajaj Finance Ltd. said it’s likely to witness higher gross and net non-performing assets in the first six months of the ongoing financial year amid disruptions by the second wave of the Covid-19 pandemic. “Forward flows across overdue positions were higher due to constraints on collections amidst strict lockdowns across most parts of India,” it said in a mid-quarter update late on June 4.
  • India’s macroeconomic fundamentals remain sound, which is reflected in the robust investment flows into the country, Finance Minister Nirmala Sitharaman told Business Standard in an exclusive interview. “Just before the second wave of the pandemic hit, the high frequency indicators were robust, be it domestic factory orders, goods, services, electricity consumption, foreign direct investment flows, foreign exchange reserves etc,” she said.
  • Tata Consumer Products Ltd (TCPL) has made a foray into the premium roast and ground coffee segment with the launch of brand ‘Sonnets By Tata Coffee’. Through ‘Sonnets By Tata Coffee’, TCPL is targeting the customers seeking a special coffee experience, TCPL said in a statement.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AMNPLST Audited Results;Dividend 07-Jun-21 JAYATMA Quarterly Results 07-Jun-21
ASRL General;Quarterly Results 07-Jun-21 JONJUA A.G.M.;Bonus issue;General 07-Jun-21
BECTORFOOD Audited Results;Dividend 07-Jun-21 JPTRLES Audited Results;General 07-Jun-21
BSL Audited Results;Final Dividend 07-Jun-21 LPDC Audited Results 07-Jun-21
CENTRALBK Audited Results 07-Jun-21 MOLDTEK Audited Results;Final Dividend 07-Jun-21
CIGNITI General 07-Jun-21 MRF Audited Results;Final Dividend 07-Jun-21
DENISCHEM Audited Results;Final Dividend 07-Jun-21 NIACL Audited Results;Dividend;General 07-Jun-21
DML Audited Results;General 07-Jun-21 NKIND Audited Results 07-Jun-21
DYNAMATECH Audited Results 07-Jun-21 RACLGEAR Audited Results 07-Jun-21
FAIRCHEMOR Audited Results;Dividend 07-Jun-21 SEAMECLTD Audited Results 07-Jun-21
FRONTSP Audited Results 07-Jun-21 SHREEPUSHK Results;Dividend;Issue Of Warrants 07-Jun-21
GALXBRG General 07-Jun-21 SMSLIFE Dividend;General;Quarterly Results 07-Jun-21
GOENKA Audited Results;General 07-Jun-21 SRTRANSFIN Issue Of Warrants;Pref. Issue 07-Jun-21
GRAVISSHO Audited Results 07-Jun-21 SUMERUIND Audited Results;Quarterly Results 07-Jun-21
IGCIL Audited Results 07-Jun-21 TOWERINFRA Audited Results 07-Jun-21
INDOWIND General 07-Jun-21 UNIONBANK Audited Results 07-Jun-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
APLAB 07-Jun-21 Right Issue of Equity Shares ASIANPAINT 10-Jun-21 Final Dividend – Rs. – 14.50
JAYBARMARU 07-Jun-21 Bonus issue 1:1 GHCL 10-Jun-21 Final Dividend – Rs. – 5.50
NELCO 07-Jun-21 Dividend – Rs. – 1.20 ITC 10-Jun-21 Final Dividend – Rs. – 5.7500
HUHTAMAKI 09-Jun-21 Final Dividend – Rs. – 3.00 NAM-INDIA 10-Jun-21 Final Dividend – Rs. – 5.00
RALLIS 09-Jun-21 Final Dividend – Rs. – 3.00 SHREDIGCEM 10-Jun-21 Dividend – Rs. – 2.50
VIKASECO 09-Jun-21 Right Issue of Equity Shares TATACONSUM 10-Jun-21 Final Dividend – Rs. – 4.0500

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