Morning-Outlook-Feature-Image

Morning -outlook-10june

NIFTY:

Nifty opened at 16263 with a big gap down of 93 points. The index first tried to continue down momentum and makes low at 16243.85. However, prices found support at 16250 and then rallied higher. The index recorded its intraday high at 16492.80 in the last session of the market and then found strong resistance there Prices have finally closed at 16478 with a gain of 121.85 points or 0.74% up. METAL led the bears today and closed with a loss of more than 1.31% followed by the PSU BANK  and IT,PVT BANK led the bulls today and closed with a gain of more than 0.40 % followed by the auto. Prices have seen a down move of more than 1684 points which is more than 9 % from its swing highs around 18100 recorded at the beginning of April month. A bearish pattern of lower highs and lower lows is clearly visible. This may be good news for traders who are trying to identify a possible bottom in the current decline With 16000 (Sixteen Thousand) as the make or break zone, Traders may look to buy dips and declines in the Nifty. Each trader has a different method to manage such a trade.The underlying principle currently is Avoid long positions below 16000.

BANK NIFTY:

Bank Nifty opened at 34802 with a gap down of 89 points. The index first moved down  and makes low at 34659.10 found support, and then rallied to record its intraday high at 35149.10. Prices faces strong resistance there and started drifting downwards but prices finally closed at 35085.45 with a gain of 139 points. PSU BANKS have underperformed today and closed lower by 0.29%. PVT BANKS have outperformed today and ended with a gain of 0.40%. Within the index, in terms of points, HDFC BANK contributed the highest on the upside while SBIN BANK contributed the lowest.

A Narrow Range day has been made today. Narrow range days are often followed by breakouts. Watch price action on Friday. Buying is possible above today’s high of 35,149. A short trade (not recommended since trend is mildly up) is possible below 34659 a short trade can be initiated.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
RELIANCE 2798 BUY The stock is on the verge of giving the breakout on the intraday as well as the daily chart. The stock can be buy  with a stop loss of 2780 and for the target of 2840.
TATASTEEL 1044 SELL The  immediate trend of the script is bearish. There is a negative  cross over of moving averages  as well as of the indicators therefore  it can be sell below 1044 with a stop loss of 1060 and target of 1020.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
INFY 1520 CE BUY 36 CMP 28 50 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
TATAPOWER.22.06 Jun 232.2 0.02 1.11 87982875 STAR.22.06 Jun 314.25 -4.54 10.41 4020300
MUTHOOTFIN.22Jun 1075.85 0.03 2.43 4125750 TATASTEEL.22.06 Jun 995.4 -3.99 5.45 28348775
EXIDEIND.22.06 Jun 148.55 0.03 0.55 18550800 VEDL.22.06 Jun 304 -3.38 0.05 48941250
APLLTD.22.06 Jun 735.1 0.03 0.47 1185100 IBULHSGFIN.22.06 Jun 117.45 -2.41 2.94 33731100
HINDUNILVR.22.06 Jun 2186 0.05 1.82 11920800 APOLLOTYRE.22.06 Jun 205.3 -1.96 8.95 12117500
                                                                        Short Covering                                                                       Long Unwinding
GLENMARK.22.06 Jun 396.75 0.05 -0.26 6246800 HINDCOPPER.22.06 Jun 103.4 -1.15 -0.59 11618600
DELTACORP.22.06 Jun 196.5 0.2 -1.98 16054000 ATUL.22.06 Jun 8054.95 -0.62 -1.39 95775
AMBUJACEM.22.06 Jun 366 0.3 -0.95 55627500 RAIN.22.06 Jun 174.05 -0.6 -0.82 6357500
MOTHERSON.22.06 Jun 124.7 0.36 -0.3 31066000 ASHOKLEY.22.06 Jun 138.1 -0.47 -0.4 38371500
BANKNIFTY.22.06 Jun 35180 0.48 -2.16 2358750 DLF.22.06 Jun 326.45 -0.06 -0.5 42881850

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
City Union Bank Ltd. 139.85 0.83 2426374 0 76.58 Nifty50 16478.1 0.74 83178
Icici Lombard General In 1125.3 1.59 2288225 0 69 Niftybank 35085.45 0.4 83178
Bharti Airtel Limited 676.35 1.97 6774925 0 68.38 Nifty it 29761.55 0.98 83178
Ambuja Cements Ltd 365.3 0.62 5238450 0 67.96 India Vix 19.14 -3.53 83181
Muthootfin 1073.35 -0.1 261947 0 67.18 Nifty Fmcg 37440.65 0.5 83181
Power Grid Corporation o 224.85 0.13 7101031 0 65.63 Nifty Pharma 12465.9 1.2 83181
Godrej Cons Products Ltd 762.95 1.99 1018160 0 63.28 Nifty Realty 405.3 0.26 83181
Cipla Ltd 971.95 0.93 1405851 0 62.84 Nifty Auto 11419.25 0.32 83175
Havells India Limited 1132.05 2.07 1870191 0 62.21 Nifty Metal 5278.2 -1.31 83175
Nestleind 16768.15 0.27 28748 0 62.17 Nifty Financial Services 16209.85 0.39 83175

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: FX Reserves, USD on 10th June, 2022 •USD:   Federal Budget Balance (May) on 10th June, 2022

•USD:   Core CPI (MoM) (May) on 10th June, 2022

NEWS UPDATES

  • A consortium of Apollo Global Management Inc. and Reliance Industries Ltd. has made a binding offer for Walgreens Boots Alliance Inc.’s international drugstore arm, people with knowledge of the matter said. The bid for the Boots business is fully backed by committed financing, the people said, asking not to be identified because the information is private.

  • Coal India Ltd (CIL) has issued a tender for purchasing imported coal for power generating companies (gencos) in the wake of the Centre directing it to meet the shortfall in the domestic coal supply chain. CIL has called for bids to supply 2.4 million tonnes (MT) of coal to be delivered for the July to September 2022 period. The estimated value of the contract is Rs 3,100 crore, CIL said in the tender document.

  • Welspun Corp Ltd (WCL) has partnered with Tata Steel to develop the “framework for and subsequently manufacturing” pipes for transportation of pure hydrogen and natural gas-blended hydrogen. While Welspun Corp Ltd, the flagship company of Welspun Group, is a leading welded line pipe manufacturer, Tata Steel is among the top three steel making companies in India.

  • Omaxe, one of India’s leading real estate developers, on Thursday announced its partnership with Jio-bp, a fuel and mobility joint venture between Reliance Industries Limited (RIL) and bp, to establish a battery charging ecosystem for electrical vehicles. Jio-bp will set up EV charging and swapping infrastructure at various Omaxe properties across Delhi, Noida, Greater Noida, Faridabad, Ghaziabad, New Chandigarh, Ludhiana, Patiala, Amritsar, Jaipur, Sonipat and Bahadurgarh in a phased manner.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AMARJOTHI General 10-Jun-22 OPTOCIRCUI Quarterly Results 10-Jun-22
APIS Dividend on Preference Shares;Results 10-Jun-22 RELICAB Bonus issue 10-Jun-22
CITURGIA Quarterly Results 10-Jun-22 RISHILASE General 10-Jun-22
ESCORP Bonus issue;General 10-Jun-22 SABOOSOD Right Issue of Equity Shares;General 10-Jun-22
GALLANTT General 10-Jun-22 SUPREMEINF Audited Results;General 10-Jun-22
HMT Audited Results 10-Jun-22 TRIVENIENT A.G.M. 10-Jun-22
INDINFR General 10-Jun-22 WSIND Preferential Issue of shares;General 10-Jun-22
JFL General 10-Jun-22 AAL Final Dividend;A.G.M.;General 11-Jun-22
MAYUKH General 10-Jun-22 AMANITRA Issue Of Warrants;Pref. Issue 11-Jun-22
NETPIX General 10-Jun-22 APMFINVEST Issue Of Warrants;Preferential Issue;ESOP 11-Jun-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
CEATLTD 10-Jun-22 Final Dividend – Rs. – 3.0000 AVONMORE 14-Jun-22 Buy Back of Shares
LKPFIN 10-Jun-22 Final Dividend – Rs. – 3.0000 DCBBANK 14-Jun-22 Dividend – Rs. – 1.0000
LKPSEC 10-Jun-22 Final Dividend – Rs. – 0.3000 HAVELLS 14-Jun-22 Final Dividend – Rs. – 4.5000
SADHNA 10-Jun-22 Stock  Split From Rs.10/- to Rs.1/- INDIANB 14-Jun-22 Final Dividend – Rs. – 6.5000
SAGARSOFT 10-Jun-22 Dividend – Rs. – 3.0000 PUNJCOMMU 14-Jun-22 E.G.M.
SHREDIGCEM 10-Jun-22 Final Dividend – Rs. – 2.0000 RSYSTEMINT 14-Jun-22 Interim Dividend – Rs. – 6.5000
TATACOMM 10-Jun-22 Final Dividend – Rs. – 20.7000 CANBK 15-Jun-22 Dividend – Rs. – 6.5000
CERA 13-Jun-22 Final Dividend – Rs. – 20.0000 HIGHENE 15-Jun-22 Final Dividend – Rs. – 15.0000
CERA 13-Jun-22 Special Dividend – Rs. – 15.0000 HINDUNILVR 15-Jun-22 Final Dividend – Rs. – 19.0000
DARSHANORNA 13-Jun-22 Stock  Split From Rs.10/- to Rs.2/- KEC 15-Jun-22 Final Dividend – Rs. – 4.0000
RAJGLOWIR 13-Jun-22 Final Dividend – Rs. – 2.0000 KHAICHEM 15-Jun-22 Final Dividend – Rs. – 0.1500

Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, suhail@elitewealth.in
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing research@elitestock.com with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail research@elitestock.com.
Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
2. Compensation
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL

FILING COMPLAINTS ON SCORES - EASY & QUICK

a. Register on SCORES portal

b. Mandatory details for filing complaints on SCORES:
i. Name, PAN, Address, Mobile Number, E-mail ID

c. Benefits:
i. Effective communication
ii. Speedy redressal of the grievances

SEBI : https://www.scores.gov.in/scores/complaintRegister.html