Nifty opened at 15451.55 with a gap up of just 38 points. The index continued its early morning momentum and saw a rally of more than 150 points. The index recorded its intraday high at 15628.45 and then started moving downwards. The decline erases all the gains that came during the day and prices have fallen further to record its intraday low at 15367.50. Prices have again moved higher and almost reach the morning highs. The index finally closed at 15556.65 near its intraday high with a gain of 143.35 points or 0.93% up. All the sectoral indices have closed higher today except the OIL GAS which ended 0.43% lower. AUTO led the way today on the higher side and ended wit h a gain of 4.39%. The short-term trend is now sideways. The support is now visible around 15200.Strong resistance may emerge inside 15800 – 16000 zones while a short-term resistance is now visible around 15700 Volatility is moderately high as the INOIA VIX is moving above 20. The most likely scenario is a consolidation within the mentioned support and resistance levels. We should step aside and avoid trading the index.
Bank Nifty opened at 32927.40 with a gap up of 134 points. Prices have recorded its intraday high at 33431.5 and then went into a narrow range. That range eventually broke on the downside and prices tell to erase all the gains, fill the gap also, and recorded its intraday low at 32652.15. The index again rose towards the end of today’s trading session and finally closed at 33171.05 with a gain of 378 points. PVT and PSU BANKS both have performed almost the same today, saw an upside move, and ended with a gain of 0.88% & 0.45% respectively. Within the index, in terms of points, ICIC IBANK contributed the highest on the upside while BANDHAN BANK contributed the lowest. 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.
|INDHOTEL||223.5||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 220 and for the target of 230.|
|BANDHANBK||278||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 278 with a stop loss of 282 and target of 270.|
|Stock Name||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|ASIANPAINT||2800 CE||BUY||30||CMP||20||50||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|SYNGENE.22.06 Jun||556.6||0.04||6.96||940100||INDIGO.22.06 Jun||1625.1||-1.68||3.12||2876500|
|TATACHEM.22.06 Jun||795.5||0.16||1.79||4768000||RELIANCE.22.06 Jun||2474.85||-1.21||9.18||24548750|
|L&TFH.22.06 Jun||68.55||0.22||0.7||47779096||OBEROIRLTY.22.06 Jun||748.05||-1.2||6.23||4306400|
|BRITANNIA.22.06 Jun||3421.2||0.25||3.06||1671400||VEDL.22.06 Jun||219.9||-1.17||2.72||57780900|
|Short Covering||Long Unwinding|
|INDIAMART.22.06 Jun||4095||0.46||-0.61||231750||IDEA.22.06 Jun||8.5||-0.58||-0.65||5.53E+08|
|TATASTEEL.22.06 Jun||842.8||0.5||-0.67||26065675||HONAUT.22.06 Jun||33141.9||-0.51||-0.33||13545|
|MGL.22.06 Jun||740.45||0.5||-0.88||2762400||PETRONET.22.06 Jun||207.05||-0.24||-9.37||14511000|
|FEDERALBNK.22.06 Jun||87.4||0.52||-0.59||56820000||MUTHOOTFIN.22.06 Jun||990.35||-0.07||-0.4||3904125|
Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Icici Lombard General In||1125.25||-0.85||383525||0||73.88||Nifty50||15556.65||0.93||79632|
|Max Financial Services l||800.6||-0.06||536695||0||66.42||Nifty it||28027.8||1.96||79632|
|Hindustan Unilever Ltd||2252.6||2.26||1585753||0||66.09||India Vix||20.88||-1.97||79632|
|Power Grid Corporation o||208.55||-1||9835894||0||65.95||Nifty Fmcg||37316.5||0.96||79632|
|Acc Limited||2090.4||1.36||149241||0||63.41||Nifty Pharma||12127.2||1.58||79632|
|Atul Ltd.||7982.35||0.52||10880||0||62.96||Nifty Realty||382.15||1.66||79632|
|Larsen & Toubro Limited||1494.3||1.05||1828491||0||62.88||Nifty Auto||11359.5||4.39||79632|
|Tata Consultancy Serv Lt||3308.8||2.66||3692578||0||62.2||Nifty Metal||4523||0.72||79632|
|Whirlpool||1475.9||0.88||50886||0||62.08||Nifty Financial Services||15391.65||0.79||79632|
UPCOMING ECONOMIC DATA
|INR: FX Reserves, USD on 24thJune, 2022||•USD: New Home Sales (May) on 24th June, 2022
•USD: Fed Bank Stress Test Results on 24th June, 2022
Diversified Indian conglomerate ITC Limited’s sales through the e-commerce channel in the last financial year saw a threefold rise over FY 2019-20 levels, taking the channel salience to 7 per cent. In its recently released annual report, the company revealed that it collaborated with leading e-commerce platforms on all aspects of operations, including category development, marketing, and supply chain and customer acquisition. This was augmented by the development of exclusive and relevant pack assortments, driving digital-first brands, and enabling platform discoverability through jointly curated campaigns.
The settlement of disputes between Spandana Sphoorty Financial Ltd’s (SSFL) board and Padmaja Reddy, its erstwhile managing director, has paved the way for the micro finance institution to announce audited results for FY22 before June 30, 2022. It had delayed the declaration of results pending an agreement between the board and Reddy.
Macrotech Developers Ltd on Thursday announced its entry in the Bengaluru market and has formed a joint venture to develop its first housing project with an estimated sales bookings value of Rs 1,200 crore. It will acquire 100 per cent equity of G Corp Homes to make foray into the Bengaluru market.
Vodafone Idea (Vi) has opted for a four year moratorium on payment of Rs 8837 crore in AGR dues in addition to one exercised last year. Similarly, the telecom company has the option to convert interest on deferred amount into additional equity to government. The government is set to own 33 per cent stake in Vi following an earlier decision to convert interest with net present value of interest worth Rs 16,000 crore into equity.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|AKM||A.G.M.;Right Issue;In. in Auth. Capital||24-Jun-22||OISL||Quarterly Results||23-Jun-22|
|FCL||A.G.M.;General||24-Jun-22||ZKHATAUE||Preferential Issue of shares||23-Jun-22|
|GENNEX||Right Issue of Equity Shares;General||24-Jun-22||AKM||Right Issue;In. in Auth. Cap.;A.G.M.||24-Jun-22|
|PRESSMN||Scheme of Arrangement||24-Jun-22||AUTOLITIND||General;Quarterly Results||24-Jun-22|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|BALKRISIND||24-Jun-22||Final Dividend – Rs. – 4.00||AAL||30-Jun-22||Final Dividend – Rs. – 1.50|
|NAZARA||24-Jun-22||Bonus issue 1:1||BAJAJ-AUTO||30-Jun-22||Dividend – Rs. – 140.00|
|INDOSOLAR||27-Jun-22||Resolution Plan -Suspension||BAJAJFINSV||30-Jun-22||Dividend – Rs. – 4.00|
|SALASAR||27-Jun-22||Stock Split From Rs.10/- to Rs.1/-||BAJAJHLDNG||30-Jun-22||Final Dividend – Rs. – 25.00|
|TRANWAY||27-Jun-22||E.G.M.||BAJFINANCE||30-Jun-22||Dividend – Rs. – 20.00|
|KACHCHH||28-Jun-22||E.G.M.||BIOCON||30-Jun-22||Final Dividend – Rs. – 0.50|
|SKFINDIA||28-Jun-22||Dividend – Rs. – 14.50||EKI||30-Jun-22||Bonus issue 3:1|
|WHIRLPOOL||28-Jun-22||Final Dividend – Rs. – 5.00||ESCORTS||30-Jun-22||Dividend – Rs. – 7.00|
|SONACOMS||29-Jun-22||Final Dividend – Rs. – 0.7700||GANDHITUBE||30-Jun-22||Final Dividend – Rs. – 10.00|
|TATASTLLP||29-Jun-22||Dividend – Rs. – 12.50||IOC||30-Jun-22||Bonus issue 1:2|
|VAIBHAVGBL||29-Jun-22||Final Dividend – Rs. – 1.50||LTI||30-Jun-22||Dividend – Rs. – 30.00|
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