Morning-Outlook-Feature-Image

Morning-outlook-21june

NIFTY:

Nifty opened at 15334.50 with a gap up of 41 points. The index initially went down, filled the gap within a few minutes, and fell further to record its intraday low at 15191.10. Prices have bounced up from there then consolidated and then again moved up above 15300. The index recorded its intraday high at 15382.50 and  then saw a down move. The NIFTY again moved up in the last thirty minutes of trading and came close to its daily highs. The index finally closed at 15350.15 with a gain of56.65 points or 0.37% up. OIL GAS and META L led the bears today and ended with a loss of more than 3% followed by MEDIA which ended 2.59% lower. FMCG outperformed today and ended with gains of nearly 2%.

We should take a trade in the direction of a breakout. The idea is to wait till 09:30 AM and then look to buy above 15500 or sell short below 15150. However, if prices already crossed these levels after the first 15 minutes, then wait for it to come back. Keep a stop of 110 points and a target of 220 points from your entry price.

BANK NIFTY:

Bank Nifty opened at 32873.40 with a gap up of just 16 points. The index started moving down from the open and saw a sharp dip of more than 400 points within the first 30 minutes. Prices then moved up and down and continued these random swings for the whole day. The intraday high was recorded at 32926.10 while the intraday low was recorded at 32426.40 and finally, the index closed at 32699.45 wit h a loss of 158 points. PVT BANKS outperformed today and ended wit h a loss of 0.69% while PSU BANKS have underperformed today and ended wit h a big loss of 2.49%. Within the index, in terms of points, HDFC BANK contributed the highest on the upside while BANOHAN BANK contributed the lowest.

The short-term trend is down. We have seen a sharp decline two days ago and prices have been moving choppy since then. So, we should take a breakout trade in the same direction tomorrow.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
ASIANPAINT 2660 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 2640 and for the target of  2700.
DEEPAKNTR 1753 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 1770 with a stop loss of 642 and target of 1710.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
DLF 300 PE BUY 9.75 CMP 5 17 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
AARTIIND.22.06 Jun 689.7 0.17 3.79 3541100 VEDL.22.06 Jun 233 -12.03 10.98 49403150
ITC.22.06 Jun 263.9 0.19 4.99 87824000 BANDHANBNK.22.06 Jun 273.4 -12.03 9.07 40782600
TATACOMM.22.06 Jun 874.05 0.19 2.35 3324000 GNFC.22.06 Jun 547.9 -10.05 19.75 3026400
ABB.22.06 Jun 2180.25 0.23 3.91 611000 RAIN.22.06 Jun 136.3 -9.97 0.83 6385000
HDFCLIFE.22.06 Jun 553.35 0.25 0.31 20768000 HINDCOPPER.22.06 Jun 84.75 -9.21 6.89 12074400
                                                                        Short Covering                                                                       Long Unwinding
TORNTPHARM.22 Jun 2770 0.14 -0.76 814500 DELTACORP.22.06 Jun 175.85 -5.02 -0.23 13126100
DRREDDY.22.06 Jun 4154 0.28 -0.18 1698125 NBCC.22.06 Jun 27.6 -4.83 -1.72 22608000
SYNGENE.22.06 Jun 538.95 0.34 -0.53 951150 RBLBANK.22.06 Jun 78.2 -4.69 -2.55 42661900
TATACONSUM.22Jun 716.55 0.42 -0.32 7465500 UPL.22.06 Jun 640.35 -3.81 -0.02 18803200
IPCALAB.22.06 Jun 873.7 0.88 -3.81 794700 GRANULES.22.06 Jun 234.75 -3.43 -0.15 8202600

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Honeywell Auto India Ltd 32831.75 -0.08 11961 0 86.75 Nifty50 15350.15 0.37 75897
Indus Towers Limited 209.4 0.67 2850810 0 71.44 Niftybank 32684.8 -0.18 75897
Sun Pharma  Ltd 805.3 1.5 2745302 0 67.35 Nifty it 26966.2 0.87 75897
Power Grid Corporation o 208.25 -1.47 5551702 0 67.01 India Vix 22.41 -1.53 75897
Hdfc Ltd. 2135.25 4.02 5845032 0 65.74 Nifty Fmcg 36915.75 1.8 75897
Hindustan Unilever Ltd 2195.9 4.05 2021998 0 65.4 Nifty Pharma 11847.9 0.37 75897
Dabur India Ltd. 500.8 3.34 3139875 0 65.28 Nifty Realty 370.75 -1.83 75897
Marico Limited 484.9 2.43 912090 0 64.01 Nifty Auto 10754.7 -0.7 75897
Alkem 3118.2 0.64 131165 0 63.14 Nifty Metal 4540.55 -3.9 75897
Infosys Limited 1414.15 1.94 4595180 0 63.09 Nifty Financial Services 15203.95 0.96 75900

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  FX Reserves, USD on 24thJune, 2022 •USD:  Existing Home Sales (May) on 21stJune, 2022

•USD:  Fed Chair Powell Testifies on 22nd June, 2022

NEWS UPDATES

  • Kamdhenu Ltd on Monday said its paints business has been demerged into a separate entity following an order of the Chandigarh bench of the National Company Law Tribunal (NCLT). Post demerger, Kamdhenu Ltd will continue to focus on steel business, while Kamdhenu Ventures Limited will expand the paints business. It is now looking to complete the listing process of newly-formed company in the July-September quarter, Kamdhenu Ltd said in a statement.
  • Industry body ISSDA on Monday termed the government’s move to impose duty on steel products as “knee jerk” action which came as a shock to domestic steel industry. On May 21, the government announced waiving of customs duty on the import of some raw materials, including coking coal and ferronickel, used by the steel industry. Also, the duty on exports of iron ore was hiked by up to 50 per cent and on a few steel intermediaries to 15 per cent.
  • Vodafone Idea’s Board is scheduled to meet on June 22, to consider and approve a proposal for raising funds to the tune of Rs 500 crore. The fundraising will be through the issuance of equity shares or convertible warrants on a preferential basis to one or more entities belonging to Vodafone Group (one of the promoters of the company).
  • Vedanta Ltd has invited Expression of Interest (EoI) from interested parties to sell its Sterlite Copper unit in Tamil Nadu’s Thoothukudi. The last day to submit the expression of interest is July 4. Vedanta has invited the bids in conjunction with Axis Capital. It was in May 2018 that 13 people were killed and around 102 left injured in a police firing at Thoothukudi, during a protest against the expansion of the plant. Following this, the smelter and refining complex was shut down.
Source: Economic Times,  Indian Express  ,Business Today, Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AROMAENT General;Quarterly Results 21-Jun-22 AMANITRA General 22-Jun-22
DYNAMICP General 21-Jun-22 ASHNI Preferential Issue of shares;General 22-Jun-22
GAMMONIND Audited Results 21-Jun-22 HMT Audited Results 22-Jun-22
JAINCO General 21-Jun-22 MERMETL Right Issue of Equity Shares;General 22-Jun-22
ROSEMER Issue Of Warrants;Preferential Issue 21-Jun-22 NEWLIGHT Audited Results 22-Jun-22
SAKUMA Right Issue of Equity Shares 21-Jun-22 PUNJCOMMU General 22-Jun-22
SHABCHM General 21-Jun-22 WANBURY Audited Results 22-Jun-22
SOTL Stock  Split 21-Jun-22 21STCENMGM General 23-Jun-22
TRIVENIGQ General 21-Jun-22 AGIOPAPER Voluntary Delisting of Shares;General 23-Jun-22
VIVANZA Preferential Issue of shares 21-Jun-22 HIPOLIN General 23-Jun-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
BALAMINES 21-Jun-22 Final Dividend – Rs. – 6.00 AJANTPHARM 22-Jun-22 Bonus issue 1:2
BEPL 21-Jun-22 Final Dividend – Rs. – 1.00 DEEPAKSP 22-Jun-22 Final Dividend – Rs. – 2.50
GOLKUNDIA 21-Jun-22 Final Dividend – Rs. – 1.50 GHCL 22-Jun-22 Final Dividend – Rs. – 10.00
NELCO 21-Jun-22 Dividend – Rs. – 1.80 GHCL 22-Jun-22 Special Dividend – Rs. – 5.00
PANCARBON 21-Jun-22 Dividend – Rs. – 12.00 INDHOTEL 22-Jun-22 Dividend – Rs. – 0.40
POLYCAB 21-Jun-22 Dividend – Rs. – 14.00 LALPATHLAB 22-Jun-22 Final Dividend – Rs. – 6.00
RAFL 21-Jun-22 E.G.M. NDRAUTO 22-Jun-22 Final Dividend – Rs. – 2.50
RANEHOLDIN 21-Jun-22 Dividend – Rs. – 12.00 NGLFINE 22-Jun-22 Final Dividend – Rs. – 1.7500
SUPREMEIND 21-Jun-22 Final Dividend – Rs. – 18.00 PNB 22-Jun-22 Dividend – Rs. – 0.6400
TINNARUBR 21-Jun-22 Final Dividend – Rs. – 4.00 SAGCEM 22-Jun-22 Dividend – Rs. – 0.70
WIREFABR 21-Jun-22 Dividend – Rs. – 0.10 SKYIND 22-Jun-22 Final Dividend – Rs. – 1.00

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