Morning-Outlook-Feature-Image

Morning-outlook-11july

NIFTY:

Nifty opened at 16273.65 With a gap up of 141 points. The index did not sustain at those levels and quickly moved downwards after recording an intraday high at 16275.50. Prices then traded very narrowly and consolidated for almost the whole day. The index recorded its intraday low at 16157.90 and then bounced up. Prices have seen a sharp intraday rally in the last hour of trading and finally closed at 16220.60 below the opening price but with gains of 87.70 points or 0.54%up. BANK, FINANCIAL, and FMCG outperformed today, led the bulls, and closed with a gain of more than 0.50%. METAL underperformed by ending nearly 1% lower.

On a weekly timeframe chart, the index has seen a sharp rally throughout the week and ended at the top. Prices have gained nearly 3% when compared to last week’s closing price which is almost 500 points. The short-term trend is up and we should look for buying only on any dip or intraday consolidation breakout. Support should emerge around 16000 while the resistance is now visible around 16700.

BANK NIFTY:

Bank Nifty opened at 35258.90 With a big gap up of 333 points. The index did not sustain at the higher levels and moved down quickly after recording its intraday high at 35262.10. Prices have kept on moving lower and recorded its intraday low at 34977.35. In the last hour of trading, the index has seen a sharp upside move and finally closed at 35125.55 with a gain of 200 points. PVT and PSU BANKS both have performed almost the same today, saw an upside move, and closed higher by 0.40% & 0.35% respectively. Within the index, in terms of points, ICICI BANK contributed the highest on the upside while INDUSIND BANK contributed the lowest.

The short-term trend is up and we have booked profit yesterday only. We should now wait for a couple of days for an adequate setup to emerge. Till then avoid trading the index.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
ADANIENT 2293 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 2270 and for the target of  2340.
ICICIBANK 756 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 755 with a stop loss of 762 and target of 740.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
RELIANCE 2380 PE BUY 85 CMP 70 110 OI Increase

 

Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BHEL.22.07 Jul 47.2 0 0.71 87769500 BANDHANBNK.22.07 Jul 270.95 -3.49 5.64 32419800
NAVINFLUOR.22.07 Jul 3795 0.02 8.28 405900 RBLBANK.22.07 Jul 83.85 -2.44 5.07 45255000
MCDOWELL-N.22Jul 816.1 0.04 0.91 14278750 RAIN.22.07 Jul 154.05 -2.41 3.59 7584500
BALKRISIND.22.07 Jul 2290.5 0.04 1.65 1408500 ASHOKLEY.22.07 Jul 143.6 -2.41 2.4 42285000
RELIANCE.22.07 Jul 2398 0.05 1.24 36652750 IBULHSGFIN.22.07 Jul 94.6 -2.37 4.2 36644000
                                                                        Short Covering                                                                       Long Unwinding
IDFC.22.07 Jul 54.5 0.09 -0.38 1.04E+08 MUTHOOTFIN.22.07 Jul 1039.1 -1.06 -0.12 4368750
KOTAKBANK.22.07 Jul 1748.05 0.16 -0.98 17409200 INDUSINDBK.22.07 Jul 849.45 -0.86 -0.69 16345800
BIOCON.22.07 Jul 323.4 0.23 -0.2 13958700 GSPL.22.07 Jul 231 -0.77 -3.23 2925000
NIFTY.22.07 Jul 16227.7 0.49 -0.61 11455900 INDIGO.22.07 Jul 1683.7 -0.72 -1.5 3172200
ITC.22.07 Jul 293.1 0.53 -0.52 85958400 MCX.22.07 Jul 1306.5 -0.65 -0.12 3059600

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Alkem 3124.9 0.56 118183 0 88.96 Nifty50 16220.6 0.54 76965
Hdfc Ltd. 2239.75 -0.26 4484309 0 73.56 Niftybank 35124.05 0.58 76965
Hdfc Bank Ltd. 1397.1 0.09 6237015 0 70.48 Nifty it 28250.3 0.19 76965
Power Finance Corporatio 108.95 1.16 2164854 0 70.33 India Vix 18.4 -4.17 76965
Ambuja Cements Ltd 368.45 0.41 2126285 0 68.28 Nifty Fmcg 40925.25 0.53 76965
Hdfc Life Insurance Comp 545.35 -1.67 3509988 0 68.11 Nifty Pharma 12449.45 0.48 76965
Kotak Mahindra Bank Limi 1744.75 0.36 1778149 0 67.99 Nifty Realty 411 -0.06 76965
Hcl Technologies Ltd. 983.55 -0.64 3141642 0 67.54 Nifty Auto 12124.6 0.09 76965
Dr. Reddys Lab Ltd 4406.2 1.61 417896 0 66.33 Nifty Metal 4799.55 -0.88 76965
Power Grid Corporation o 218.8 2.94 12856693 0 64.64 Nifty Financial Services 16260.2 0.5 76968

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  FX Reserves, USD on 8th July, 2022 •USD:  Nonfarm Payrolls (Jun) on 8th July, 2022

•USD:  Unemployment Rate (Jun) on 8th July, 2022

NEWS UPDATES

  • Bharat Heavy Electricals Ltd (BHEL) on Thursday said it has successfully commissioned 100-MW floating Solar photovoltaic plant at NTPC Ramagundam in Telangana. The plant is installed across the natural raw water reservoir, saving valuable land resources, and also conserves water by reducing evaporation, a company statement said.

  • Ajmera Realty & Infra India Ltd on Thursday reported an over three-fold jump in its sales bookings to Rs 400 crore for the quarter ended June on better demand. Its sales bookings stood at Rs 111 crore in the year-ago period, the company said in a statement. The carpet area sold by the company stood at 1,57,438 square feet in April-June period of this fiscal as against 61,663 square feet in the year-ago period.

  • Tata Power on Thursday issued a clarification saying no officials of Tata Power are involved in the alleged bribery case involving Power Grid Corporation of India. Tata Power spokesperson in a tweet said, ““Tata Power clarifies that no officials of Tata Power are involved in the alleged bribery case involving Power Grid Corporation of India, being investigated by CBI. Some media reports have wrongly mentioned Tata Power’s name in the alleged case.”

  • TCS will kick start corporate earnings season this week, and if one were to go by what analysts say the IT major may not disappoint the Street, with a nearly 15 per cent jump in revenues and a 7-11 per cent year-on-year rise in June quarter profit. The demand commentary could be strong, they said, even as margin may take a hit on wage hikes.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ALFAVIO General;Stock  Split 08-Jul-22 SPECFOOD Quarterly Results 08-Jul-22
BRAHMINFRA Audited Results 08-Jul-22 SUKHJITS A.G.M.;General 08-Jul-22
DHANCOT General 08-Jul-22 SURYAINDIA A.G.M.;General 08-Jul-22
INDOUS A.G.M.;Preferential Issue of shares 08-Jul-22 TCPLPACK Employees Stock Option Plan 08-Jul-22
KANCHI A.G.M.;Dividend;General 08-Jul-22 TCS Interim Dividend;Quarterly Results 08-Jul-22
KHANDSE General 08-Jul-22 VISHWARAJ A.G.M.;General 08-Jul-22
KOHINOOR General;Quarterly Results 08-Jul-22 DMART Quarterly Results 09-Jul-22
MARKSANS Buy Back of Shares 08-Jul-22 GRADIENTE Quarterly Results 09-Jul-22
MMTC Audited Results 08-Jul-22 PRISMX General 09-Jul-22
MORARKFI Quarterly Results 08-Jul-22 RAILTEL Final Dividend 09-Jul-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
INGERRAND 08-Jul-22 Dividend – Rs. – 20.00 GMM 11-Jul-22 Bonus issue 2:1
JUBLFOOD 08-Jul-22 Final Dividend – Rs. – 1.20 KIRLPNU 11-Jul-22 Final Dividend – Rs. – 2.40
LUMAXIND 08-Jul-22 Final Dividend – Rs. – 13.50 PERSISTENT 11-Jul-22 Final Dividend – Rs. – 11.00
LUMAXTECH 08-Jul-22 Final Dividend – Rs. – 3.50 PIXTRANS 11-Jul-22 Final Dividend – Rs. – 6.00
MAHACORP 08-Jul-22 Right Issue of Equity Shares AINFRA 12-Jul-22 Bonus issue 1:1
ONWARDTEC 08-Jul-22 Final Dividend – Rs. – 3.00 AVADHSUGAR 12-Jul-22 Dividend – Rs. – 10.00
PRESSMN 08-Jul-22 Final Dividend – Rs. – 1.00 RECLTD 12-Jul-22 Final Dividend – Rs. – 4.80
SUNDARMFIN 08-Jul-22 Final Dividend – Rs. – 10.00 SESHAPAPER 12-Jul-22 Final Dividend – Rs. – 2.50
TITAN 08-Jul-22 Dividend – Rs. – 7.50 STEELXIND 12-Jul-22 Stock  Split From Rs.10/- to Rs.1/-
TORNTPHARM 08-Jul-22 Bonus issue 1:1 ABSLAMC 13-Jul-22 Final Dividend – Rs. – 5.8500
CONTROLPR 11-Jul-22 Dividend – Rs. – 5.00 ANG 13-Jul-22 Bonus issue 1:4
DRREDDY 11-Jul-22 Final Dividend – Rs. – 30.00 MAGADHSUGAR 13-Jul-22 Dividend – Rs. – 6.50

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