Morning-Outlook-Feature-Image

Morning-outlook-12july

NIFTY:

NIFTY opened at 16136.15 with a gap down of 84 points. The index did not fall further and started a process of consolidation in a tight narrow range. That consolidation eventually broke on the upside after recording the intraday low at 16115.50. Prices have seen a sharp intraday rally which filled the gap. However, the index again moved down in the last hour of trading and finally closed at 16216 above the opening price but with a minor loss of just 4.60 points or 0.03% down. All the sectoral indices have ended in green except IT. OIL GAS and METAL outperformed today, led the bulls, and closed with a gain of nearly 2%.

IT underperformed by ending 3.08% lower. This narrow range should lead prices to a phase of expansion in either direction. We should wait fora breakout from these narrow range days and then take trade in the same direction. The idea is to look for a buying opportunity above 16300 or sell short below 16000.In case of a gap up or down, wait for prices to come at the suggested entry level. Keep a stop of 110 points and a target of 240 points.

BANK NIFTY:

Bank Nifty opened at 35017.60 with a gap down of 108 points. The index quickly turned up after recording its intraday low at 35006.55 a few ticks below the opening price, filled the gap, and then rallied further. However, prices formed a trading range afterward and then broke it on the upside. The index rallied again and recorded its intraday high at 35543.10.Prices have seen a minor dip in the last 30 minutes of trading and finally closed at 35442.20 with a gain of 317 points.

Within the index, in terms of points, ICIC IBANK contributed the highest on the upside while KOTAK BANK contributed the lowest.

We should avoid trading the index since we do not have an adequate setup that could suggest us a trading opportunity. We should maintain our focus on intraday trading only for the time being.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
GNFC 630 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 624 and for the target of 640.
TCS 3113 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 3110 with a stop loss of 3145 and target of 3040.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
HDFCBANK 1420 CE BUY 20.35 CMP 12 35 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI   Stocks Price Price% OI % OI
JINDALSTEL.22.07 Jul 351.25 0.03 4.96 37037500 HCLTECH.22.07 Jul 929.25 -5.57 20.07 17116400
PETRONET.22.07 Jul 221.65 0.05 0.16 13056000 TCS.22.07 Jul 3114.45 -5.2 24.05 14254800
JSWSTEEL.22.07 Jul 577.25 0.07 0.97 50835600 BHARTIARTL.22.07 Jul 661.75 -3.99 12.08 52211050
HONAUT.22.07 Jul 35250.05 0.2 7.36 16200 BPCL.22.07 Jul 317.2 -3.53 6.8 12632400
NIFTY.22.07 Jul 16189 0.25 6.36 12258800 RAIN.22.07 Jul 152.35 -3.48 12.05 8204000
                                                                        Short Covering                                                                       Long Unwinding
INDIGO.22.07 Jul 1695.95 0.01 -1.45 3173700 NBCC.22.07 Jul 30.9 -3.29 -6.39 19125000
GODREJCP.22.07 Jul 859.75 0.15 -1.85 7433000 INFY.22.07 Jul 1471.4 -2.21 -0.08 39003900
MCX.22.07 Jul 1317.15 0.16 -0.13 3059200 BANDHANBNK.22.07 Jul 274.75 -2.14 -4.63 29269800
LAURUSLABS.22.07 Jul 492 0.17 -1.42 5678100 PAGEIND.22.07 Jul 43454.65 -1.36 -2.73 106290
ABBOTINDIA.22.07 Jul 19375 0.37 -2.19 42800 ICICIGI.22.07 Jul 1262.8 -1.33 -1.86 2826675

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Alkem 3172.7 2.1 41558 0 88.96 Nifty50 16216 0.52 85230
Hdfc Ltd. 2249.5 0.18 2115471 0 73.56 Niftybank 35469.65 1.57 85230
Hdfc Bank Ltd. 1406.15 0.74 3731440 0 70.48 Nifty it 27380.55 -2.89 85230
Power Finance Corporatio 110.4 2.51 1994881 0 70.33 India Vix 18.37 -4.34 85224
Ambuja Cements Ltd 369.2 0.61 3135297 0 68.28 Nifty Fmcg 41043.15 0.82 85230
Hdfc Life Insurance Comp 546.65 -1.43 1848324 0 68.11 Nifty Pharma 12564.85 1.41 85230
Kotak Mahindra Bank Limi 1741.25 0.16 1533179 0 67.99 Nifty Realty 417.05 1.41 85230
Hcl Technologies Ltd. 943.55 -4.68 5787815 0 67.54 Nifty Auto 12252.5 1.14 85230
Dr. Reddys Lab Ltd 4501 3.79 959408 0 66.33 Nifty Metal 4893.9 1.07 85230
Power Grid Corporation o 217.05 2.12 8119560 0 64.64 Nifty Financial Services 16365.6 1.15 85230

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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