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 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.
|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.|
|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|
|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
|INR: FX Reserves, USD on 8th July, 2022||•USD: Nonfarm Payrolls (Jun) on 8th July, 2022
•USD: Unemployment Rate (Jun) on 8th July, 2022
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
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|ALFAVIO||General;Stock Split||08-Jul-22||SPECFOOD||Quarterly Results||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|
|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|
|MORARKFI||Quarterly Results||08-Jul-22||RAILTEL||Final Dividend||09-Jul-22|
|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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