Morning-Outlook-Feature-Image

NIFTY:

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:

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.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
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.

DERIVATIVE PICKS

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
AUROPHARMA.22Jun 519.3 0.12 2.57 13346250 TORNTPOWER.22.06 Jun 449.85 -1.31 1.67 4203000
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
IRCTC.22.06 Jun 590 0.21 -0.29 11683000 MANAPPURAM.22Jun 84.5 -1.23 -1.07 22293000
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
Sectors Price Change % Quantity
Icici Lombard General In 1125.25 -0.85 383525 0 73.88 Nifty50 15556.65 0.93 79632
Hdfc Ltd. 2164.2 0.23 2709259 0 68.13 Niftybank 33135 0.88 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

   Domestic                                                                                                                                                  International
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

NEWS UPDATES

  • 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

BOARD MEETINGS

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
AUTOLITIND General;Quarterly Results 24-Jun-22 SATIN General 23-Jun-22
CANBK General 24-Jun-22 STURDY General 23-Jun-22
COMSYN General 24-Jun-22 VARDMNPOLY Audited Results;General 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
SANINFRA General 24-Jun-22 CANBK General 24-Jun-22
SEPC Audited Results 24-Jun-22 COMSYN General 24-Jun-22
SRGHFL A.G.M. 24-Jun-22 FCL A.G.M.;General 24-Jun-22

CORPORATE ACTION

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

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