Morning-Outlook-Feature-Image

morning-outlook22june

NIFTY:

Nifty opened at 15455.95 with a gap up of 105 points. The index initially went down but found support quickly and turned up after recording its intraday low at 15419.85. Prices have seen a sharp intraday rally with minor consolidation, which eventually broke higher. The index recorded its intraday high at 15707.25 after lunch. Prices then went into a consolidation which lasted till the end of today’s trading session and the index finally closed at 15638.80 near its intraday high with a gain of 288.65 points or 1.88% up. All the sectoral indices have closed higher today. MEDIA out performed ending more than 5% higher. OILGAS was up by 4.83% while IT,REALTY and METAL ended more than 3% higher.

It was a trend day today where prices have recorded its intraday low near the opening tick and intraday high near the closing tick. The support is now visible around 15200 while the resistance may emerge inside 15800 – 16000 zones. Volatility is also cooling off as the INDIA VIX has fallen today but still moving above 20 which is moderately high. The most likely scenario is a consolidation within the mentioned support and resistance levels.

BANK NIFTY:

Bank Nifty opened at 32978.05 with a gap up of 279 points. The index initially moved down, almost filled the gap, and then bounced up after recording its intraday low at 32797.55. Prices have seen a sharp intraday surge, recorded its intraday high at 33593.80, and then saw a sharp decline in the last hour of trading. The index finally closed at 33186.55 wit h a gain of 487 points PSU BANKS have outperformed today and ended with a big gain of more than 4%. PVT BANKS have also moved up today but ended wit ha gain of 1.41%. Within the index, in terms of points, SBIN contributed the highest on the upside while AU BANK contributed the lowest.

Prices have seen a sharp intraday rally today so the trade remained intact. Stay long with a stop at 32800 and a target at33700.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
TITAN 2078 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 2060 and for the target of  2130.
PIDILITE 2100 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 2100 with a stop loss of 2120 and target of 2060.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
INFY 1460 CE BUY 20.45 CMP 12 35 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ICICIPRULI.22.06 Jun 502.6 0.05 3.57 5679000 CROMPTON.22.06 Jun 325.95 -1.17 3.04 2983200
KOTAKBANK.22.06 Jun 1684.8 0.06 3.05 14442800 MARICO.22.06 Jun 483.4 -0.39 3.74 10311000
APOLLOHOSP.22Jun 3813.95 0.18 3.84 1830750 PIDILITIND.22.06 Jun 2096.5 -0.21 3.36 3158500
GODREJCP.22.06 Jun 761.25 0.19 5.06 7738500
SHREECEM.22.06 Jun 18460.05 0.23 0.04 281525
                                                                        Short Covering                                                                       Long Unwinding
ASIANPAINT.22.06 Jun 2677.05 0.35 -1.55 5415000 PAGEIND.22.06 Jun 39119 -1.93 -1.41 99390
AMBUJACEM.22.06 Jun 359.5 0.53 -1.07 55531500 ALKEM.22.06 Jun 3087.3 -1.09 -1.99 196600
AUBANK.22.06 Jun 612.7 1.06 -2.43 6800000 NESTLEIND.22.06 Jun 16970.15 0 -0.52 402225
ACC.22.06 Jun 2089 1.13 -1.79 3247750
BAJFINANCE.22.06 Jun 5527 1.3 -0.92 5032500

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Honeywell Auto India Ltd 33335.7 1.53 2158 0 78.91 Nifty50 15638.8 1.88 75642
Crompton Greaves Consume 325.45 -1.11 1857636 0 68.11 Niftybank 33191.75 1.55 75639
Mah & Mah Ltd. 997.95 1.55 6263263 0 65.48 Nifty it 27810.65 3.13 75639
Hdfc Bank Ltd. 1336.55 1.09 6610328 0 64.99 India Vix 21.14 -5.66 75642
Atul Ltd. 8020.65 2.08 21596 0 63.14 Nifty Fmcg 37317.75 1.09 75633
Hdfc Ltd. 2174.7 1.85 3407145 0 62.72 Nifty Pharma 12098.35 2.11 75633
Icici Lombard General In 1141 1.3 280231 0 60.67 Nifty Realty 384.3 3.65 75633
Kotak Mahindra Bank Limi 1681.5 0.14 2503603 0 57.79 Nifty Auto 10974.2 2.04 75633
Itc Ltd. 269.9 2.2 13879456 0 57.05 Nifty Metal 4720.75 3.97 75633
Maruti Suzuki India Ltd 7780.6 1.56 954878 0 56.42 Nifty Financial Services 15436.35 1.53 75633

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  RBI MPC Meeting Minutes on 22nd June, 2022

INR:  FX Reserves, USD on 24thJune, 2022

•USD:  Fed Chair Powell Testifies  on 22stJune, 2022

•USD:  API Weekly Crude Oil Stock on 23rd June, 2022

NEWS UPDATES

  • Oil and Natural Gas Corporation (ONGC) is seeking a minimum USD 17 price for the gas it plans to produce from coal seams in its Bokaro CBM block in Jharkhand. ONGC invited bids for the sale of 0.20 million standard cubic metres per day of gas it plans to produce from the Bokaro CBM block by the year-end, according to a tender document. It sought bids on a formula indexed to the prevailing Brent crude oil price.

  • Delhi-NCR has highest vacancy of office space at 28.5 per cent, while Pune has the lowest at 8.5 per cent because of higher demand of premium workspace from IT/ITeS sector, according to property consultant Anarock. As per the data of Grade-A office buildings across seven major cities of the country, Chennai has an office vacancy of 10.35 per cent, Bengaluru 11.25 per cent and Hyderabad 15 per cent.

  • JPMorgan believes that the market is mispricing the newly-listed Life Insurance Corporation of India’s shares which are down over 30% from the IPO price. Initiating coverage on the stock with an overweight rating and a target price of ₹840, JPMorgan said the valuations are attractive. Shares of LIC ended up 1% at ₹661.25 on Monday after hitting a new post-listing low of ₹650. JPMorgan was also one of the book running lead managers of LIC’s IPO.

  • Auto ancillaries’ revenues are expected to grow 8-10 per cent in 2022-23 on the back of a stable demand and likely easing of supply-chain concerns in the second half of the year, Icra said on Monday.

Source: Economic Times,  Indian Express  ,Business Today, Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AMANITRA General 22-Jun-22 21STCENMGM General 23-Jun-22
ASHNI General;Preferential Issue of shares 22-Jun-22 ADROITINFO General 23-Jun-22
ELEFLOR A.G.M. 22-Jun-22 AGIOPAPER General;Voluntary Delisting of Shares 23-Jun-22
HMT Audited Results 22-Jun-22 BINNY General 23-Jun-22
IDEA General 22-Jun-22 HIPOLIN General 23-Jun-22
MERMETL Right Issue of Equity Shares;General 22-Jun-22 HUBTOWN Issue Of Warrants;General 23-Jun-22
NEWLIGHT Audited Results 22-Jun-22 MAHACORP Right Issue of Equity Shares 23-Jun-22
PUNJCOMMU General 22-Jun-22 MTCL Increase in Authorised Capital 23-Jun-22
SALASAR Increase in Authorised Capital 22-Jun-22 OISL Quarterly Results 23-Jun-22
WANBURY Audited Results 22-Jun-22 SATIN General 23-Jun-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
AJANTPHARM 22-Jun-22 Bonus issue 1:2 UNIONBANK 22-Jun-22 Final Dividend – Rs. – 1.90
DEEPAKSP 22-Jun-22 Final Dividend – Rs. – 2.50 WALCHPF 22-Jun-22 Final Dividend – Rs. – 1.2500
GHCL 22-Jun-22 Final Dividend – Rs. – 10.00 ALUFLUOR 23-Jun-22 Final Dividend – Rs. – 1.00
GHCL 22-Jun-22 Special Dividend – Rs. – 5.00 ASHNI 23-Jun-22 Stock  Split From Rs.10/- to Rs.1/-
INDHOTEL 22-Jun-22 Dividend – Rs. – 0.40 BANASFN 23-Jun-22 Right Issue of Equity Shares
LALPATHLAB 22-Jun-22 Final Dividend – Rs. – 6.00 CAMS 23-Jun-22 Final Dividend – Rs. – 12.00
NDRAUTO 22-Jun-22 Final Dividend – Rs. – 2.50 DALBHARAT 23-Jun-22 Final Dividend – Rs. – 5.00
NGLFINE 22-Jun-22 Final Dividend – Rs. – 1.7500 HAPPSTMNDS 23-Jun-22 Final Dividend – Rs. – 2.00
PNB 22-Jun-22 Dividend – Rs. – 0.6400 NATHBIOGEN 23-Jun-22 Dividend – Rs. – 2.00
SAGCEM 22-Jun-22 Dividend – Rs. – 0.70 NAVKAR 23-Jun-22 Stock  Split From Rs.10/- to Rs.2/-
SKYIND 22-Jun-22 Final Dividend – Rs. – 1.00 WELSPUNIND 23-Jun-22 Dividend – Rs. – 0.1500

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