Morning-Outlook-Feature-Image

Morning-outlook-23june

NIFTY:

Nifty opened at 15545.65 with a gap down of 93 points. The index recorded its intraday high at 15565.40 a few ticks above the opening price and then continued moving lower. Prices have seen a down move of almost 150 points and then found support. The index rallied almost 100 points and then the rally fizzled out. Prices moved down again and recorded its intraday low at 15385.95.The index spent the last two hours of trading moving sideways and finally closed at 15413.30 near its intraday low wit ha loss of 225.50 points or 1.44%  down. All the sectoral indices have closed lower today. METAL led the bears today and ended lower by 4.87%.MEDIA was down by 3.50% while OIL GAS and REALTY ended more than 2% lower.

The short-term trend is now sideways. The support is now visible around 15200 which is also the recent swing low. Strong resistance may emerge inside 15800 – 16000 zones while a short-term resistance is now visible around 15700.

BANK NIFTY:

Bank Nifty opened at33051.65 with a gap down of 135 points. The index recorded its intraday high at 33106.95 a few ticks above the opening price and continued moving lower. Prices have then found support and moved higher but the rally fizzled out sooner the index continued moving up and down for the rest of the day, recorded its intraday low at 32758.15, and finally closed at 32793.50 with a loss of 393 points. PVT BANKS have underperformed today and ended wit h a loss of 1.19%. PSU BANKS have outperformed today and ended on a flat note. Within the index, in terms of points, ICIC IBANK contributed the highest on the downside followed by HDFC BANK. The short-term trend is sideways as the index is in a process of correction. A recent swing low around 32300 should act as a support while strong resistance is visible around 34500. We should now step aside and avoid trading the index.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
BSOFT 342 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 338 and for the target of  350.
TATASTEEL 838 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 838 with a stop loss of 845 and target of 825.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
RELINCE 2500 PE BUY 49 CMP 35 80 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
PNB.22.06 Jun 29.2 0 0.81 2.01E+08 SUNTV.22.06 Jun 408.6 -8.89 14.48 13191000
LICHSGFIN.22.06 Jun 307.45 0.03 0.22 19730000 HINDCOPPER.22.06 Jun 83.15 -8.53 20.76 13179500
HONAUT.22.06 Jun 33282.4 0.03 1.29 14085 NATIONALUM.22.06 Jun 68.7 -6.66 1.85 53762500
APOLLOTYRE.22.06 Jun 174.95 0.06 3.59 13637500 HINDALCO.22.06 Jun 317.3 -6.46 4.92 46216400
PETRONET.22.06 Jun 207.4 0.22 4.16 16359000 VEDL.22.06 Jun 221.75 -6.41 3.28 57336050
                                                                        Short Covering                                                                       Long Unwinding
RAMCOCEM.22.06 Jun 600 0.05 -2.84 3196000 IBULHSGFIN.22.06 Jun 98.4 -4.93 -0.56 23098100
BERGEPAINT.22.06 Jun 587.05 0.2 -0.89 4776200 TRENT.22.06 Jun 1017.75 -3.42 -0.79 4115825
TATACOMM.22.06 Jun 895 0.88 -0.26 3189600 INDHOTEL.22.06 Jun 214.8 -3.37 -2.31 17821482
RBLBANK.22.06 Jun 87.15 3.38 -2.61 39579200 BIOCON.22.06 Jun 313.95 -3.37 -0.19 13648200
CUB.22.06 Jun 121.25 -3.08 -0.37 11036400

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Dalmia Bharat Limited 1246.95 -0.89 143131 0 78.56 Nifty50 15413.3 -1.44 75573
Gujarat State Petronet l 214.05 -2.06 595416 0 76.9 Niftybank 32845.3 -1.04 75573
Mah & Mah Ltd. 983.8 -1.42 2629024 0 76.41 Nifty it 27488.4 -1.16 75573
United Breweries Limited 1476.55 -0.56 899550 0 70.59 India Vix 21.3 0.76 75573
Ntpc Limited 137.65 -1.64 8316507 0 69.35 Nifty Fmcg 36963.3 -0.95 75573
Hdfc Ltd. 2159.25 -0.71 2951509 0 69.17 Nifty Pharma 11939.05 -1.32 75573
Eicher Motors Ltd 2662.75 -1.48 273508 0 69.01 Nifty Realty 375.9 -2.19 75573
Infosys Limited 1437.25 -0.87 6252396 0 67.38 Nifty Auto 10881.4 -0.85 75573
Crompton Greaves Consume 325.6 0.05 1102366 0 64.87 Nifty Metal 4490.75 -4.87 75573
Trent Limited 1020.8 -2.8 673345 0 63.35 Nifty Financial Services 15271.45 -1.07 75576

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  FX Reserves, USD on 24thJune, 2022 •USD:  Initial Jobless Claims on 23rd June, 2022

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

NEWS UPDATES

  • TCS has bagged a deal to drive business process transformation at Aadhar Housing Finance for an undisclosed sum, the companies said on Wednesday. The domestic housing financier will be deploying the Tata group company’s lending and securitisation platform for market expansion, according to a statement.

  • Logistics services firm Delhivery, said it plans to expand its infrastructure in the two key cities of Bhiwandi (Greater Mumbai) and Bengaluru. Delhivery is collaborating with Welspun on a 700,000 sq ft mega-gateway in Greater Mumbai and with GMR for a one million-plus sq ft facility in Bengaluru, which will also include a warehouse for multi-channel order fulfilment for Delhivery’s customers.

  • Bharat Petroleum Corp Ltd (BPCL) has shut half of its crude processing capacity at its 240,000 barrels per day (bpd) Mumbai refinery in western India since June 10 to carry out maintenance, a company spokesman said. The state-run refiner has shut a 120,000 bpd crude unit and some secondary units including diesel hydro desulfuriser and hydrogen generation units for 20 to 25 days, the spokesman said. Other units are functioning as normal, he said.

  • In a big relief for telecom companies, the Department of Telecommunications (DoT) has scrapped the 3 per cent floor rate on spectrum usage charge (SUC). As the government prepares for 5G spectrum allotment next month, the telcos had been demanding to scrap the SUC floor rate, equivalent to 3 per cent of adjusted gross revenue (AGR), to cut their 5G spectrum payouts

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
21STCENMGM General 23-Jun-22 OISL Quarterly Results 23-Jun-22
ADROITINFO General 23-Jun-22 SATIN General 23-Jun-22
AGIOPAPER Voluntary Delisting of Shares 23-Jun-22 STURDY General 23-Jun-22
ANSHNCO General 23-Jun-22 VARDMNPOLY Audited Results;General 23-Jun-22
BINNY General 23-Jun-22 ZKHATAUE Preferential Issue of shares 23-Jun-22
HIPOLIN General 23-Jun-22 AKM Right Issue;In. in Auth. Cap.;A.G.M. 24-Jun-22
HUBTOWN Issue Of Warrants;General 23-Jun-22 AUTOLITIND General;Quarterly Results 24-Jun-22
IIFL General 23-Jun-22 CANBK General 24-Jun-22
MAHACORP Right Issue of Equity Shares 23-Jun-22 COMSYN General 24-Jun-22
MTCL Increase in Authorised Capital 23-Jun-22 FCL A.G.M.;General 24-Jun-22

 

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ALUFLUOR 23-Jun-22 Final Dividend – Rs. – 1.00 NAZARA 24-Jun-22 Bonus issue 1:1
ASHNI 23-Jun-22 Stock  Split From Rs.10/- to Rs.1/- INDOSOLAR 27-Jun-22 Resolution Plan -Suspension
BANASFN 23-Jun-22 Right Issue of Equity Shares SALASAR 27-Jun-22 Stock  Split From Rs.10/- to Rs.1/-
CAMS 23-Jun-22 Final Dividend – Rs. – 12.00 TRANWAY 27-Jun-22 E.G.M.
DALBHARAT 23-Jun-22 Final Dividend – Rs. – 5.00 KACHCHH 28-Jun-22 E.G.M.
HAPPSTMNDS 23-Jun-22 Final Dividend – Rs. – 2.00 SKFINDIA 28-Jun-22 Dividend – Rs. – 14.50
NATHBIOGEN 23-Jun-22 Dividend – Rs. – 2.00 WHIRLPOOL 28-Jun-22 Final Dividend – Rs. – 5.00
NAVKAR 23-Jun-22 Stock  Split From Rs.10/- to Rs.2/- SONACOMS 29-Jun-22 Final Dividend – Rs. – 0.7700
WELSPUNIND 23-Jun-22 Dividend – Rs. – 0.1500 TATASTLLP 29-Jun-22 Dividend – Rs. – 12.50
ZDHJERK 23-Jun-22 E.G.M. VAIBHAVGBL 29-Jun-22 Final Dividend – Rs. – 1.50
BALKRISIND 24-Jun-22 Final Dividend – Rs. – 4.00 AAL 30-Jun-22 Final Dividend – Rs. – 1.50

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