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 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.
|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.|
|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|
|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|
Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|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
|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
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
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|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|
|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|
|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|
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)
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, email@example.com
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.
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.
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing firstname.lastname@example.org 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 email@example.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
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:
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;
(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