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 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.
|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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|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|
|Dabur India Ltd.||544.05||0.6||1964169||1409226||68.05||Nifty Metal||5339.15||1.35||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
|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
- 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
|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|
|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|
|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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