morning-Outlook-8juneNIFTY:

The Nifty opened at 15725.10 with a gap up of 55 points. The index first moved down, filled the gap and recorded its intraday low at 15678.10. Prices then started moving on the upside, rallied almost 100 points and recorded its intraday high at 15773.45. The index moved sideways in the last hour of trading and finally closed at 15751.65 with a gain of 81.40 points. The Media, Auto and IT sectors outperformed and ended with a gain while Pharma and Financial have closed almost unchanged.

It was a narrow range day in the index where prices have moved with a range of fewer than 100 points and ended near the day highs. A gap up opening filled quickly but prices have rallied again and recorded lifetime new highs.

The short term trend Is up and intact. It will change to sideways once the index closes below 15500 support. If the prices came below 15500 and then it may give us a buy on dip trade.

BANK NIFTY:

Bank Nifty opened at 35460.80 with a gap up of 115 points. The index first moved down and recorded its intraday low at 35338.55. Prices then moved up for almost the whole day recorded its intraday high at 35545.85. PSU and Private Banks both have seen a rally and closed higher. Within the index, ICICI Bank contributed highest while SBIN the lowest.

We have identified a narrow trading range with support at 34900 and resistance at 35800. This is the 7th day prices have been moving inside this range. We should buy on a breakout above 35900 or sell below 34800

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
AXISBANK 751.10 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 743 and for the target 765
HCLTECH 949.60 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 941 and for the target 963

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
IGL 530 CE BUY 19.10 CMP 15.5 25 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
IRCTC.21.06 Jun 2125.3 10 83.9 1845025 FINNIFTYW.21.06 Jun 16705.95 -0.56 500 720
SRTRANSFIN.21.06 Jun 1489.9 4.56 37.9 4758000 MRF.21.06 Jun 82500.05 -3.27 52.49 60220
BATAINDIA.21.06 Jun 1577.05 0.76 28.08 1136300 NMDC.21.06 Jun 182 -6.31 20.15 77425200
NAM-INDIA.21.06 Jun 373.55 1.81 21.19 2900800 BAJAJFINSV.21.06 Jun 11809.9 -3.01 12.54 806625
TORNTPOWER.21.06 Jun 459.9 7.49 15.34 2301000 ADANIENT.21.06 Jun 1632.7 -4.25 10.28 17726000
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
EXIDEIND.21.06 Jun 198.05 1.75 -4.34 12139200 IBULHSGFIN.21.06 Jun 246.95 -6.07 -14.09 32212100
BOSCHLTD.21.06 Jun 15699.2 0.07 -3.79 104000 BHARATFORG.21.06 Jun 751.15 -0.46 -11.04 8952000
MOTHERSUMI.21.06 Jun 254.65 0.79 -3.08 32144000 ONGC.21.06 Jun 125.9 -0.08 -3.46 66412500
RBLBANK.21.06 Jun 217.4 0.93 -2.96 26506000 PNB.21.06 Jun 42.2 -2.43 -2.46 299632000
AUBANK.21.06 Jun 1027.4 1.8 -2.79 2350500 LICHSGFIN.21.06 Jun 521.9 -2.08 -2.14 8668000

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Trent Limited 857.5 0.63 463126 530834 67.94 Nifty Energy 20743.95 1.85 99303
Britannia Ind Ltd. 3542.6 1.53 357312 204936 65.51 Nifty Media 1839.1 1.16 99303
Hindustan Unilever Ltd 2339.3 -0.12 1128300 827470 64.45 Nifty it 27295.65 1.11 99303
Itc Ltd. 211.45 1.29 31433280 19314602 64.11 Nifty Fmcg 35375.35 0.68 99303
Colgate Palmolive (india 1710.6 0.82 281761 226970 62.81 Nifty Auto 10806.55 0.66 99303
Hcl Technologies Ltd. 949.6 1.39 3282517 2178569 61.36 Nifty 50 15751.65 0.52 99303
Infosys Limited 1389.65 0.29 5154576 2560752 61.05 Nifty Bank 35443.65 0.43 99303
Tata Consultancy Serv Lt 3183.2 1.25 2559821 1117232 60.85 Nifty Pharma 14069 -0.23 99303
Petronet Lng Limited 249.35 1.8 2694351 2317453 59.55 Nifty Realty 352.8 -0.28 99303
Cummins India Limited 812.95 0.28 892435 935020 57.97 Nifty Metal 5315.5 -0.44 99303

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

  • Government of India will provide free jabs to the states for inoculation of everyone aged above 18 years, said Prime Minister Narendra Modi on Monday as he outlined his government’s vaccination policy. In a televised address to the nation, the Prime Minister said Centre will buy 75 per cent of the total vaccine production, including 25 per cent of the state quota, from the manufacturers and give it free to the state governments.
  • The Anil Ambani family is likely to make a tender offer in Reliance Infrastructure via the creeping acquisition route and invest another Rs 500 crore. As per market regulator Sebi’s guidelines, a tender offer is mandatory when a promoter’s stake crosses the 25 per cent threshold.
  • Biscuits and snacks major Parle Products on Monday announced foray into the packaged wheat flour market with the launch of the product under its popular Parle-G brand.”Parle is expanding its portfolio with the launch of ‘Parle G Chakki Atta’. Branded atta segment is a huge opportunity and has gained momentum since the pandemic outbreak. There is conversion happening from unbranded and loose atta to packaged branded atta,” Mayank Shah, Sr. Category Head, Parle Products told PTI.
  • State-owned Indian Oil Corporation (IOC) on Monday said it has signed up an investment pact for adding petrochemical and lube plants to its previously announced plan to expand crude oil processing capacity at its Koyali refinery at Vadodara in Gujarat. Expanding refining capacity by 4.3 million tonnes per annum to 18 million tonnes and adding plants to produce 500,000 tonnes per annum of polypropylene and 2,35,000 tonnes of lube oil base stock at the site would see total investment of about Rs 24,000 crore.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BAJAJHIND Dividend;Audited Results 08-Jun-21 ROTO Final Dividend;Audited Results 08-Jun-21
ENGINERSIN Final Dividend;Audited Results 08-Jun-21 SALAUTO Final Dividend;Audited Results 08-Jun-21
ESSARSHPNG Audited Results 08-Jun-21 SCTL General 08-Jun-21
GALAXYSURF Final Dividend;Audited Results 08-Jun-21 SESL Audited Results 08-Jun-21
GREENCREST Audited Results 08-Jun-21 SHEMAROO Audited Results 08-Jun-21
HESTERBIO Audited Results;Dividend 08-Jun-21 SPARCSYS General 08-Jun-21
IONEXCHANG Audited Results;Dividend 08-Jun-21 STANROS A.G.M.;Audited Results;Dividend 08-Jun-21
JETKINGQ Audited Results 08-Jun-21 SURANAT&P Audited Results 08-Jun-21
KMSUGAR Audited Results 08-Jun-21 SURYAINDIA General;Audited Results 08-Jun-21
MFSL Audited Results 08-Jun-21 SUVENPHAR Final Dividend;Audited Results 08-Jun-21
PETRONET Final Dividend;Audited Results 08-Jun-21 SUYOG Audited Results 08-Jun-21
PFS Final Dividend;Audited Results 08-Jun-21 TALBROAUTO A.G.M.;Audited Results;Dividend 08-Jun-21
PML Audited Results 08-Jun-21 TWL Audited Results 08-Jun-21
PRESTIGE Audited Results 08-Jun-21 VBIND Audited Results 08-Jun-21
RELIGARE General 08-Jun-21 VCKCAP Audited Results 08-Jun-21
RNBDENIMS Audited Results 08-Jun-21 WONDERLA Audited Results 08-Jun-21

 

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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
ASIANPAINT 10-Jun-21 Final Dividend – Rs. – 14.50 VBL 10-Jun-21 Bonus issue 1:2
GHCL 10-Jun-21 Final Dividend – Rs. – 5.50 VTMLTD 10-Jun-21 Dividend – Rs. – 0.60
ITC 10-Jun-21 Final Dividend – Rs. – 5.7500 BAJAJCON 11-Jun-21 Final Dividend – Rs. – 4.00

 

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