NIFTY:
NIFTY opened at 16010.80 With a gap up of 72 points. The index initially followed its early morning momentum but failed to keep it on and moved down. Prices have seen a sharp dip and filled the gap. The index then went into a process of consolidation that eventually broke on the upside. Prices recorded its intraday low at 15927.30. A sharp rally came in the last one and half hours of trading which brought the index to its intraday high at 16066.95. Prices finally closed at 16049.20 with a gain of 110.55 points or 0.69% up. AUTO outperformed today and ended with a gain of 2.03% followed by FMCG which ended 1.47% up. METAL, IT underperformed today and ended with a loss. BANK and PHARMA ended almost on a flat note.
On a weekly timeframe, the index ended a week with a loss. Also, it has formed an Inside bar, which means this week’s price action was inside the previous weeks suggesting next week may be wide. A trading range is visible inside 15850 – 16300 on the daily chart. We should wait for one or two days and then plan our trade. Till then avoid trading the index.
BANK NIFTY:
Bank Nifty opened at 34734.45 with a gap up of 71points. The index initially moved lower after recording its intraday high at 34899.95, filled the gap, and then started a process of consolidation. Prices have recorded its intraday low at 34463.90 and broke on the upside. A rally brought prices near to its opening tick and the index finally closed at 34704.85 with a gain of just 41points. PSU BANKS has seen an underperformance today and closed lower by 0.43%. PVT BANKS have outperformed today and closed higher by just 0.07%. Within the index, in terms of points, HDFC BANK contributed the highest on the upside while AX IS BANK contributed the lowest.
However, if prices started increasing on Monday, we should take a long trade on a breakout above 35200 with a stop of 300 points and a target of 800 points. In case of a gap up, apply the first 15 minute rule.
TECHNICAL PICKS
COMPANY NAME | CMP | B/S | RATIONALE+ |
BEL | 245.5 | 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 243 and for the target of 250. |
TATASTEEL | 883 | 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 883 with a stop loss of 890 and target of 860. |
DERIVATIVE PICKS
Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
BSOFT | 310 CE | BUY | 12.3 | CMP | 10 | 20 | OI Increase
|
Long Buildup | Short Buildup | |||||||||
Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
SUNTV.22.07 Jul | 419.55 | 0.01 | 3.18 | 8568000 | JINDALSTEL.22.07 Jul | 346.4 | -4.26 | 8.38 | 41688750 | |
TCS.22.07 Jul | 3010.95 | 0.06 | 1.02 | 14769450 | TATASTEEL.22.07 Jul | 885.9 | -2.72 | 3.41 | 31081100 | |
INDIACEM.22.07 Jul | 172.2 | 0.09 | 1.69 | 11350600 | SAIL.22.07 Jul | 68.35 | -2.57 | 30.72 | 1.29E+08 | |
UPL.22.07 Jul | 662.6 | 0.1 | 0.75 | 18827900 | POWERGRID.22.07 Jul | 210 | -2.35 | 8.28 | 56311200 | |
MGL.22.07 Jul | 799.1 | 0.12 | 1.21 | 3152800 | GLENMARK.22.07 Jul | 381.7 | -2.3 | 1.6 | 6510150 | |
Short Covering | Long Unwinding | |||||||||
INFY.22.07 Jul | 1439.75 | 0.39 | -0.37 | 35563500 | BANDHANBNK.22.07 Jul | 270.65 | -1.76 | -0.51 | 26119800 | |
RELIANCE.22.07 Jul | 2409.45 | 0.43 | -0.86 | 34334250 | NAM-INDIA.22.07 Jul | 276.5 | -1.76 | -0.48 | 2955200 | |
BHEL.22.07 Jul | 49.65 | 0.51 | -0.97 | 94615500 | DELTACORP.22.07 Jul | 176.15 | -0.87 | -0.58 | 15715900 | |
ADANIENT.22.07 Jul | 2405.9 | 0.56 | -0.31 | 21785000 | DRREDDY.22.07 Jul | 4537.25 | -0.49 | -1.57 | 1854250 | |
COLPAL.22.07 Jul | 1575.75 | 0.56 | -0.13 | 2636900 | IDFC.22.07 Jul | 52.65 | -0.09 | -0.12 | 1.04E+08 |
Top Delivery Percentage
Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
Sectors | Price | Change % | Quantity | |||||||
Kotak Mahindra Bank Limi | 1787.7 | 1 | 2333732 | 0 | 80.64 | Nifty50 | 16049.2 | 0.69 | 76869 | |
Sbi Life Insurance Compa | 1155.45 | 1.45 | 591171 | 0 | 76.18 | Niftybank | 34682.65 | 0.09 | 76869 | |
Ambuja Cements Ltd | 369.15 | -0.2 | 3856534 | 0 | 75.79 | Nifty it | 26484.75 | -0.15 | 76869 | |
Crompton Greaves Consume | 393.15 | 1.05 | 4340213 | 0 | 74.46 | India Vix | 17.6 | -4.03 | 76869 | |
Hdfc Ltd. | 2216.1 | 2.25 | 2486731 | 0 | 66.92 | Nifty Fmcg | 41498.8 | 1.47 | 76869 | |
Alkem | 3211.95 | 0.73 | 261979 | 0 | 64.21 | Nifty Pharma | 12732 | 0.09 | 76869 | |
Bajaj Auto Limited | 3913.35 | 1.3 | 281730 | 0 | 64.15 | Nifty Realty | 420 | 0.56 | 76869 | |
City Union Bank Ltd. | 151.55 | 0.87 | 1219432 | 0 | 64.03 | Nifty Auto | 12361.65 | 2.03 | 76869 | |
Infosys Limited | 1430.35 | 0.1 | 5620017 | 0 | 63.96 | Nifty Metal | 4830.7 | -0.81 | 76869 | |
Axis Bank Limited | 662.2 | -0.91 | 6015057 | 0 | 63.41 | Nifty Financial Services | 16112.75 | 0.71 | 76872 |
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
DRA | General | 13-Jul-22 |
DUROPLY | Issue Of Warrants;General;Preferential Issue of shares | 13-Jul-22 |
GUJHOTE | Quarterly Results | 13-Jul-22 |
HINDZINC | Interim Dividend | 13-Jul-22 |
ITHL | Quarterly Results | 13-Jul-22 |
JPTRLES | General;Quarterly Results | 13-Jul-22 |
MEERA | General | 13-Jul-22 |
METALCO | General | 13-Jul-22 |
MINDTREE | Quarterly Results | 13-Jul-22 |
MSRINDIA | General | 13-Jul-22 |
PANAFIC | Right Issue of Equity Shares;General | 13-Jul-22 |
PREMIERPOL | A.G.M.;General;Quarterly Results | 13-Jul-22 |
RAMASIGNS | Quarterly Results | 13-Jul-22 |
TATAMETALI | Audited Results | 13-Jul-22 |
TILAK | Right Issue of Equity Shares | 13-Jul-22 |
CORPORATE ACTION
A Infrastructure Ltd | 12-Jul-22 | Bonus issue 1:1 |
Avadh Sugar & Energy Ltd | 12-Jul-22 | Dividend – Rs. – 10.0000 |
REC Ltd | 12-Jul-22 | Final Dividend – Rs. – 4.8000 |
SESHASAYEE PAPER & BOARDS LTD. | 12-Jul-22 | Final Dividend – Rs. – 2.5000 |
STEEL EXCHANGE INDIA LTD. | 12-Jul-22 | Stock Split From Rs.10/- to Rs.1/- |
Aditya Birla Sun Life AMC Ltd | 13-Jul-22 | Final Dividend – Rs. – 5.8500 |
ANG Lifesciences India Ltd | 13-Jul-22 | Bonus issue 1:4 |
ASM TECHNOLOGIES LTD. | 13-Jul-22 | Final Dividend – Rs. – 2.5000 |
Magadh Sugar & Energy Ltd | 13-Jul-22 | Dividend – Rs. – 6.5000 |
ORIENT BELL LIMITED-$ | 13-Jul-22 | Dividend – Rs. – 1.0000 |
POLYCHEM LTD. | 13-Jul-22 | Final Dividend – Rs. – 3.0000 |
Shankara Building Products Ltd | 13-Jul-22 | Final Dividend – Rs. – 1.0000 |
SHREE CEMENT LTD. | 13-Jul-22 | Final Dividend – Rs. – 45.0000 |
VST INDUSTRIES LTD. | 13-Jul-22 | Dividend – Rs. – 140.0000 |
WENDT (INDIA) LTD. | 13-Jul-22 | Final Dividend – Rs. – 45.0000 |
ADANI ENTERPRISES LTD. | 14-Jul-22 | Final Dividend – Rs. – 1.0000 |
ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD. | 14-Jul-22 | Final Dividend – Rs. – 5.0000 |
Apex Frozen Foods Ltd | 14-Jul-22 | Final Dividend – Rs. – 2.5000 |
ARIHANT CAPITAL MARKETS LTD. | 14-Jul-22 | Final Dividend – Rs. – 0.1500 |
ASHOK LEYLAND LTD. | 14-Jul-22 | Dividend – Rs. – 1.0000 |
Adani Total Gas Ltd | 14-Jul-22 | Final Dividend – Rs. – 0.2500 |
ATUL LTD. | 14-Jul-22 | Dividend – Rs. – 25.0000 |
BHARAT FORGE LTD. | 14-Jul-22 | Final Dividend – Rs. – 5.5000 |
B.N.RATHI SECURITIES LTD. | 14-Jul-22 | Dividend – Rs. – 1.0000 |
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