Morning-Outlook-Feature-Image

Outlook-13july

NIFTY:

NIFTY opened at 16126.20 with a gap down of 90 points. The index initially went up but failed to build the bullish momentum and saw a sharp decline after recording its intraday high at 16158.75. Prices have seen a down move of nearly 90 points, found support then, and again started an upside move. The rally fizz les out quickly after reaching the opening tick. Prices have seen another decline of almost 100 points and recorded its intraday low at 16031.15. The index finally closed at 16058.30 near its day low with a loss of 157.70 points or 0.97% down. All the sectoral indices have ended in a loss today except the REALTY which ended with minor gains. OIL GAS ended wit h a loss of 0.33% while the rest of the sectoral indices have lost nearly 1%.

The short-term trend is up. The last four days were very narrow for the NIFTY indicates a phase of contraction which should eventually lead prices to a phase of expansion in either direction. Tomorrow, we should look fora buying opportunity above 16200 or sell short below 15950.In case of a gap up or down, apply t he first 15 minutes rules.

BANK NIFTY:

Bank Nifty opened at 35298.70 with a gap down of 144 points. The index quickly turned up for the first 15 minutes of trading and filled the gap. Prices recorded its intraday high at 35419.65 and then started moving sideways. The consolidation eventually broke on the downside and saw a sharp decline. The index recorded its intraday low at 35047.50 and finally closed at 35054.05 with a loss of 388 points. PVT BANKS have underperformed today and closed lower by nearly 1%. PSU BANKS have ended almost on a flat note. Within the index, in terms of points, BANDHAN BANK contributed the highest on the upside while ICICIBANK contributed the lowest.

Look for a buying opportunity on a breakout above 35550 or look for a shorting opportunity on a breakdown below 34900. In case of a gap apply the first 15-minute rule. Keep a stop of 300 points and a target of 800 points.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
DLF 346.80 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 343 and for the target of 350.
DEEPAKNTR 1810 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 1810 with a stop loss of 1830 and target of 1780.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
INFY 1400 PE BUY 22.55 CMP 12 35 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
LICHSGFIN.22.07 Jul 359.1 0.01 2.8 16642000 NMDC.22.07 Jul 103.2 -5.67 15.1 69934600
HEROMOTOCO.22 Jul 2838.05 0.03 3.8 3823800 BHARATFORG.22.07 Jul 623.6 -4.04 6.44 8561000
SRF.22.07 Jul 2192.5 0.04 1.26 4360125 HINDPETRO.22.07 Jul 234.2 -3.74 3.23 22528800
MFSL.22.07 Jul 832.65 0.08 2.69 1466400 RBLBANK.22.07 Jul 84.15 -3.5 1.13 44615000
VEDL.22.07 Jul 230.1 0.09 1.26 57774700 FSL.22.07 Jul 102.2 -3.45 2.79 11871600
                                                                        Short Covering                                                                       Long Unwinding
DLF.22.07 Jul 346.9 0.1 -0.28 40197300 GSPL.22.07 Jul 224.35 -3.13 -0.33 2990000
ABBOTINDIA.22.07 Jul 19515 0.49 -0.85 41880 ICICIGI.22.07 Jul 1228.55 -2.62 -2.75 2719150
MRF.22.07 Jul 76499.6 0.5 -1.25 92710 ZYDUSLIFE.22.07 Jul 360.95 -2.29 -0.58 11169000
M&MFIN.22.07 Jul 199.35 1.22 -3.07 25352000 CUMMINSIND.22.07 Jul 1087.3 -2.12 -3.35 2045400
OBEROIRLTY.22.07 Jul 840.8 2.19 -0.81 4549300 BERGEPAINT.22.07 Jul 581.95 -2.03 -0.67 5363600

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Axis Bank Limited 676.2 -0.54 6446810 0 73.5 Nifty50 16058.3 -0.97 85962
Crompton Greaves Consume 368.1 -0.16 270938 0 68.46 Niftybank 35132.25 -0.95 85962
Icici Bank Ltd. 759.9 -1.25 10219829 0 67.43 Nifty it 27063.75 -1.16 85962
Ambuja Cements Ltd 370.9 0.46 2870836 0 67.33 India Vix 18.55 0.98 85962
Hdfc Bank Ltd. 1391.8 -1.02 4938487 0 63.92 Nifty Fmcg 40574.8 -1.14 85962
Hcl Technologies Ltd. 927.8 -1.67 5305354 0 63.63 Nifty Pharma 12450.65 -0.91 85962
Rec Limited 124.15 -4.87 4120742 0 62.89 Nifty Realty 417.45 0.1 85962
Astral Limited 1718.7 0.22 201956 0 62.49 Nifty Auto 12107.35 -1.18 85962
Hdfc Asset Management Co 1917.1 -2.13 191362 0 60.74 Nifty Metal 4834.05 -1.22 85962
Infosys Limited 1438.6 -2.35 4710356 0 60.74 Nifty Financial Services 16200.6 -1.01 85965

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

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