Morning-Outlook-Feature-Image

Morning-outlook-22july

NIFTY:

Nifty opened at 16523.55 without much of a gap. The index recorded its intraday low at 16483.90 and then bounced up sharply but faces resistance soon around 16600. Prices build a narrow trading range there, consolidated for about three hours, and eventually broke down. However, the index finds support soon and again started moving higher. Prices have broken 16600 resistance and rallied further to record its intraday high at 16626.95. Finally, the index closed at 16605.25 with a gain of 84.40 points or 0.51% up. All the sectoral indices have closed higher today except the PHARMA which ended with a loss of 0.47%.The rest of the sector indices have gained over half percent.

The short-term trend is up. Moreover, the index is trading very narrowly for the last two trading days. This narrow range will resolve soon one way or the other Support is now visible around 16300 which acted as resistance previously while resistance should emerge around 16650 and if breaks then 16850. As of now, the bias is bullish and we should look for buying only as far as the index is moving above 16300.

BANK NIFTY:

Bank Nifty opened at 36026.55 with a gap up of 136 points. The index initially moved down and filled the gap within the first 5 minutes of trading. Prices then rallied sharply and faced resistance around 36300. The index consolidated there and then turned down. Prices have recorded its intraday low at 35887.35 and intraday high at 36331.70 and finally closed at 36226.15 with a gain of 336 points. PSU and PVT BANKS both have performed almost the same today, saw an upside move, and closed higher by 1.63% & 1.17% respectively. Within the Index, in terms of points, INDUSIND BANK contributed the highest on the upside while KOTAK BANK contributed the lowest.

The last two days were very narrow today. This is normal as prices have rallied more than 1500 points in the past five days. Soon this narrow range will resolve one way or the other. We will then plan our trades accordingly. Till then avoid trading the index.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
TATAPOWER 230 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 227 and for the target of  236.
VOLTAS 1011 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 1010 with a stop loss of 1020 and target of 980.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
INFY 1540 CE BUY 31.70 CMP 25 45 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BOSCHLTD.22.07 Jul 16415 0.03 2.87 102050 OFSS.22.07 Jul 3201 -2.05 1.93 305600
DIXON.22.07 Jul 3945.7 0.09 3.44 477375 IPCALAB.22.07 Jul 993.1 -1.44 0.39 832650
BATAINDIA.22.07 Jul 1825.6 0.1 1.26 1663475 MGL.22.07 Jul 774.7 -1.43 2.58 3309600
NATIONALUM.22.07 Jul 75.45 0.13 2.05 62513250 VOLTAS.22.07 Jul 1015 -1.4 9.13 3806000
HDFCAMC.22.07 Jul 1927.05 0.15 3.48 2394000 FSL.22.07 Jul 109.4 -1.4 4.43 13000000
                                                                        Short Covering                                                                       Long Unwinding
DELTACORP.22.07 Jul 178.9 0.03 -0.61 15111000 CROMPTON.22.07 Jul 386.25 -2.83 -0.67 3562500
TATAMOTORS.22.07Jul 455 0.08 -0.44 58520475 DRREDDY.22.07 Jul 4378 -2.07 -2.17 1716500
ULTRACEMCO.22.07 Jul 6100.05 0.12 -0.91 1751500 SBILIFE.22.07 Jul 1170.55 -1.26 -1.81 7581000
SUNPHARMA.22.07 Jul 871.5 0.17 -0.27 19974500 CHAMBLFERT.22.07 Jul 311.05 -1.03 -2.42 3756000
PFC.22.07 Jul 112 0.36 -0.42 30776800 ASHOKLEY.22.07 Jul 147.6 -0.94 -1.46 38165000

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hdfc Bank Ltd. 1360.75 -0.32 6320139 0 76.09 Nifty50 16605.25 0.51 76950
Jk Cement Limited 2280.2 1.94 131282 0 74.67 Niftybank 36201 0.64 76953
Hdfc Ltd. 2242.4 0.49 2316951 0 73.34 Nifty it 28342.9 0.7 76953
Power Grid Corporation o 212.3 1.46 9346166 0 72.24 India Vix 16.86 0.22 76950
Kotak Mahindra Bank Limi 1800.55 -1.49 2186674 0 69.11 Nifty Fmcg 42283 0.79 76953
Ambuja Cements Ltd 370.75 0.79 3275734 0 68.21 Nifty Pharma 12651.75 -0.47 76953
Dabur India Ltd. 571.95 2.45 3414847 0 66.63 Nifty Realty 438 0.64 76953
Abb Limited 2772.75 6.7 1136196 0 66.56 Nifty Auto 12581.35 0.56 76953
Colgate Palmolive (india 1606.35 2.07 487017 0 66.35 Nifty Metal 5090.1 0.86 76956
Sbi Life Insurance Compa 1168.55 -1.48 1048591 0 66.27 Nifty Financial Services 16600.5 0.43 76956

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: FX Reserves, USD on 27th May, 2022

INR: Deposit  and Bank Loan Growth on 27th May, 2022

•USD:  Personal Spending (MoM) (Apr) on 26th May 2022

NEWS UPDATES

  • Apparel manufacturer Page Industries Ltd on Thursday reported an increase of 64.86 per cent in net profit at Rs 190.52 crore for the fourth quarter ended March 31, 2022. The company had posted a net profit of Rs 115.56 crore during the January-March period a year ago, Page Industries Ltd (PIL) said in a regulatory filing. Revenue from operations was up 26.15 per cent to Rs 1,111.11 crore during the quarter under review, as against Rs 880.76 crore in the year-ago period.

  • State-owned CIL on Thursday said it is planning to divest 25 per cent stake in its unlisted arm Bharat Coking Coal Ltd (BCCL) and will go for the subsequent listing of the subsidiary on stock exchanges after obtaining further clearances. A meeting of the board of directors to this effect was held on March 10, 2022, Coal India Ltd (CIL) said in a regulatory filing.

  • The country’s largest mortgage lender HDFC Ltd on Thursday said it has sold 10 per cent of its stake in HDFC Capital Advisors Ltd (HCAL) to Abu Dhabi Investment Authority for Rs 184 crore. With this, HCAL ceases to be a wholly-owned subsidiary of HDFC. In April, Housing Development Finance Corporation (HDFC) had entered into a share purchase agreement for sale of 2,35,019 equity shares of HCAL, representing 10 per cent of paid-up share capital, to a wholly-owned subsidiary of Abu Dhabi Investment Authority.

  • Ratings agency Moody’s on Thursday upgraded ratings of Bharti Airtel Ltd’s (Bharti) senior unsecured debt from “Ba1” to “Baa3” on basis of the telco’s continued strengthening of the company’s operational metrics and stabilisation of financial profile.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
20MICRONS Audited Results 22-Jul-22 INDBNK Quarterly Results 22-Jul-22
ABVL Quarterly Results 22-Jul-22 JSWSTEEL Quarterly Results 22-Jul-22
AGOL Quarterly Results;General 22-Jul-22 JTLINFRA Increase in Auth.Capital; Results 22-Jul-22
ANDHRACEMT Quarterly Results 22-Jul-22 KCLINFRA Right Issue of Equity Shares 22-Jul-22
ARIHCAPM Quarterly Results;General 22-Jul-22 KTIL Audited Results 22-Jul-22
ATUL Quarterly Results 22-Jul-22 MAHINDCIE Quarterly Results 22-Jul-22
BANDARAM Quarterly Results 22-Jul-22 MOL Quarterly Results 22-Jul-22
BANDHANBNK Quarterly Results 22-Jul-22 OROSMITHS Quarterly Results 22-Jul-22
BHARATGEAR Quarterly Results 22-Jul-22 PHARMAID A.G.M.;Quarterly Results 22-Jul-22
COFORGE Interim Dividend;Results 22-Jul-22 RADHEDE Quarterly Results 22-Jul-22
CROMPTON Quarterly Results 22-Jul-22 RAYALEMA General 22-Jul-22
DEVKI A.G.M. 22-Jul-22 RELIANCE Quarterly Results 22-Jul-22
DHARSUGAR Audited Results 22-Jul-22 SESHAPAPER Quarterly Results 22-Jul-22
DUNCANENG Quarterly Results 22-Jul-22 SIGACHI A.G.M.;Dividend;ESOP; Results 22-Jul-22
EASTWEST Amalgamation;General 22-Jul-22 SPLPETRO Quarterly Results 22-Jul-22
EASYFIN Quarterly Results 22-Jul-22 SUDAI Quarterly Results 22-Jul-22
FINOLEXIND Quarterly Results 22-Jul-22 TINPLATE Quarterly Results 22-Jul-22
GOKEX Quarterly Results 22-Jul-22 UGROCAP Quarterly Results 22-Jul-22
GREENPANEL Quarterly Results 22-Jul-22 ULTRACEMCO Quarterly Results 22-Jul-22
HDFCAMC Quarterly Results 22-Jul-22 USHDI Audited Results 22-Jul-22
HFCL Quarterly Results 22-Jul-22 VIKASECO Quarterly Results 22-Jul-22
HUHTAMAKI Quarterly Results 22-Jul-22 VTL Quarterly Results 22-Jul-22
IDEA General 22-Jul-22 WENDT Quarterly Results 22-Jul-22
IMAGICAA Quarterly Results 22-Jul-22 YASTF Quarterly Results 22-Jul-22
INDBANK Quarterly Results 22-Jul-22 ZENOTECH Quarterly Results 22-Jul-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ALKYLAMINE 22-Jul-22 Dividend – Rs. – 10.00 SHARDACROP 25-Jul-22 Final Dividend – Rs. – 3.00
BAJAJCON 22-Jul-22 Final Dividend – Rs. – 4.00 DIAMONDYD 26-Jul-22 Final Dividend – Rs. – 0.50
BIMETAL 22-Jul-22 Dividend – Rs. – 8.00 GPPL 26-Jul-22 Final Dividend – Rs. – 2.40
COCKERILL 22-Jul-22 Final Dividend – Rs. – 2.00 HATSUN 26-Jul-22 Interim Dividend – Rs. – 6.00
GARWSYN 22-Jul-22 E.G.M. JMCPROJECT 26-Jul-22 Final Dividend – Rs. – 1.00
GODREJAGRO 22-Jul-22 Final Dividend – Rs. – 9.50 MAXINDIA 26-Jul-22 Reduction of Capital
GOODYEAR 22-Jul-22 Final Dividend – Rs. – 20.00 NELCAST 26-Jul-22 Final Dividend – Rs. – 0.30
GOODYEAR 22-Jul-22 Special Dividend – Rs. – 80.00 PIDILITIND 26-Jul-22 Dividend – Rs. – 10.00
KSL 22-Jul-22 Dividend – Rs. – 10.00 SHAREINDIA 26-Jul-22 Interim Dividend – Rs. – 2.00
RELICAB 22-Jul-22 Bonus issue 74:100 SIMPLXREA 26-Jul-22 Final Dividend – Rs. – 1.00
ROLCOEN 22-Jul-22 Final Dividend – Rs. – 2.00 STEELCAS 26-Jul-22 Final Dividend – Rs. – 1.80
SPLPETRO 22-Jul-22 Final Dividend – Rs. – 14.00 TCI 26-Jul-22 Final Dividend – Rs. – 2.00
BOMOXY-B1 25-Jul-22 Final Dividend – Rs. – 20.00 TTKHEALTH 26-Jul-22 Final Dividend – Rs. – 10.00
BRIGADE 25-Jul-22 Final Dividend – Rs. – 1.50 VEDL 26-Jul-22 Interim Dividend – Rs. – 19.50
DCMSRMIND 25-Jul-22 Final Dividend – Rs. – 0.50 ABMKNO 27-Jul-22 Final Dividend – Rs. – 1.2500
DEEPAKNI 25-Jul-22 Dividend – Rs. – 7.00 BEPL 27-Jul-22 Interim Dividend – Rs. – 1.00
ESCORP 25-Jul-22 Bonus issue 3:2 DALMIASUG 27-Jul-22 Dividend – Rs. – 1.00
GRAPHITE 25-Jul-22 Dividend – Rs. – 10.00 EPL 27-Jul-22 Final Dividend – Rs. – 2.1500
HARDWYN 25-Jul-22 Bonus issue 1:2 GABRIEL 27-Jul-22 Final Dividend – Rs. – 1.00
KAMDHENU 25-Jul-22 Dividend – Rs. – 1.00 HAWKINCOOK 27-Jul-22 Final Dividend – Rs. – 60.00

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