Nifty opened at 16661.25 With a gap up of 56 points. The index initially moved up but soon started drifting downwards, filling the gap and erasing all the gains that came today. Prices have found support around 16600, recorded its intraday low at 16610.90, and then bounced up sharply. A minor dip came in the afternoon but soon prices again turned up. The index recorded its intraday high at 16752.25 and again moved down in the last hour of trading. Prices have finally closed at 16719.45 with a gain of 114.20 points or 0.69% up. BANK and FINANCIAL have outperformed today, led the bulls, and closed higher by nearly 1.50%.IT underperformed today and closed lower by 0.62%. METAL and OIL GAS closed with minor changes.
We were expecting and also mentioned in last Friday’s letter that this week should be a wide range week. The NIFTY gained over 650 points, nearly 4% when compared to last Friday’s closing. The next week again may be choppy and narrow. The short-term trend is up. Support is visible around 16300 while resistance should emerge around16850.
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. 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. PVT BANKS have outperformed today, saw a sharp upside move, and closed higher by 1.43%.PSU BANKS have also moved up today and ended with a gain of 0.60%.Within the index, in terms of points, HDFC BANK contributed the highest on the upside while INDUSIND BANK contributed the lowest.
The short-term trend is up as the index has been closing higher for the last six trading days. Support is now visible around 35500 while resistance is visible around 37000.
|TITAN||2325||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 2313 and for the target of 2355.|
|TATA POWER||230||SELL||The stock has been continuously moving upside but today at resistance it made an inverted hammer candle, therefore, it can be sold below 229 with a stop loss of 228.80 and a target of 231.85.|
|Stock Name||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|JSW STEEL||580 PE||BUY||12.30||CMP||8.75||17.45||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|TATAPOWER.22.07 Jul||230.4||0.02||1.78||73541250||SYNGENE.22.07 Jul||571.45||-4.84||26.17||1461000|
|BATAINDIA.22.07 Jul||1831.95||0.03||2.57||1693175||DEEPAKNTR.22.07 Jul||1804||-3.07||8.76||1880000|
|BAJFINANCE.22.07 Jul||6272.15||0.07||1.27||4668250||MGL.22.07 Jul||749.55||-3.07||9.21||3576800|
|CIPLA.22.07 Jul||971.15||0.11||0.34||8063900||CROMPTON.22.07 Jul||374.4||-2.78||2.01||3421500|
|Short Covering||Long Unwinding|
|RECLTD.22.07 Jul||126.3||0||-1.65||23622000||RBLBANK.22.07 Jul||91.7||-3.68||-8.87||38410000|
|ADANIPORTS.22.07 Jul||754.2||0.06||-1.47||25018750||AARTIIND.22.07 Jul||757.7||-2.79||-1.59||3363450|
|BAJAJ-AUTO.22.07 Jul||4054.85||0.15||-0.32||2103750||DIXON.22.07 Jul||3847.65||-2.66||-1.13||468375|
|ADANIENT.22.07 Jul||2500.65||0.21||-0.73||20422000||ABB.22.07 Jul||2698||-2.56||-9.09||757250|
Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Abbott India Limited||19949.9||-0.83||15823||0||80.27||Nifty50||16719.45||0.69||86346|
|Power Grid Corporation o||210||-1.08||6954150||0||78.33||Niftybank||36738.95||1.49||86346|
|Rec Limited||126.15||0.2||2168564||0||74.22||Nifty it||28168.15||-0.62||86346|
|Hdfc Ltd.||2295.95||2.39||3059414||0||72.91||India Vix||16.65||-1.25||86346|
|Ambuja Cements Ltd||372.55||0.49||3091493||0||71.77||Nifty Fmcg||42502.75||0.52||86349|
|Hdfc Bank Ltd.||1392.5||2.33||6364796||0||66.2||Nifty Pharma||12617.55||-0.27||86349|
|Grasim Ind Ltd.||1521.35||3.87||1643539||0||66.05||Nifty Realty||439.5||0.34||86349|
|Gujarat State Petronet l||239.7||4.79||2657149||0||65.75||Nifty Auto||12634.2||0.42||86352|
|Gmr Infrastructure Limit||35.25||-0.14||6208053||0||65.72||Nifty Metal||5094.1||0.08||86352|
|Power Finance Corporatio||111.3||-0.36||1700122||0||65.08||Nifty Financial Services||16858.55||1.55||86352|
UPCOMING ECONOMIC DATA
|INR: M3 Money Supply on 27th July, 2022||•USD: New Home Sales (Jun) on 26th July, 2022
•USD: CB Consumer Confidence (Jul) on 26th July, 2022
Reliance Industries (RIL) is all set to announce its financial results for the quarter ending June 30, 2022 (Q1FY23), on Friday. Its subsidiaries, Reliance Jio and Reliance Retail, will also announce their results on Friday. The company, in FY22, had become the first Indian company to clock a revenue of over $100 billion. In FY22, the company reported a 47 per cent growth year-on-year (Y-o-Y) in the gross revenue. It was $104.6 billion or Rs 7.92 trillion. For Q4FY22, the consolidated gross revenue for the company stood at Rs 2.32 trillion, 35.1 per cent higher than the same quarter in the previous year.
Fitch Ratings has downgraded Jubilant Pharma Ltd’s Long-Term Issuer Default Rating (IDR) from “BB” to ‘BB-‘ as the rise in its capital expenditure will coincide with lower profitability. This could see its financial leverage worsen beyond earlier estimates. Fitch has also downgraded the company’s senior unsecured rating and that of its $200 million 6 per cent senior unsecured notes due 2024 to ‘BB-‘, from ‘BB’.
Aditya Birla Group’s metals flagship Hindalco Industries and Aequs have entered into a strategic pact for long-term collaboration and joint business development in the commercial aerospace sector. The move will strengthen the commercial aerospace business of Aequs Pvt Ltd.
Bharti Airtel Chairman Sunil Mittal has said that the company will be at the forefront of bringing 5G connectivity to India with a powerful network to support the country’s digital-first economy. The comments from Mittal assume significance as the countdown for 5G spectrum auctions has begun.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|AETHER||Quarterly Results||25-Jul-22||LODHA||Quarterly Results||25-Jul-22|
|ANURAS||Interim Dividend;Quarterly Results||25-Jul-22||MAHSCOOTER||Quarterly Results||25-Jul-22|
|APOLLOTRI||Quarterly Results||25-Jul-22||MAHSEAMLES||Quarterly Results;General||25-Jul-22|
|ASTEC||Quarterly Results||25-Jul-22||MANCREDIT||Quarterly Results;A.G.M.||25-Jul-22|
|CANBK||Quarterly Results||25-Jul-22||MOONGIPASEC||Preferential Issue of shares||25-Jul-22|
|CENTRALBK||Quarterly Results||25-Jul-22||NOL||Preferential Issue of shares;A.G.M.||25-Jul-22|
|CENTURYTEX||Quarterly Results||25-Jul-22||ORIENTELEC||Quarterly Results||25-Jul-22|
|CHENNPETRO||Quarterly Results||25-Jul-22||PRIMEFRESH||Issue Of Warrants;A.G.M.;General||25-Jul-22|
|CRAFTSMAN||Quarterly Results;General||25-Jul-22||SANGAMIND||Quarterly Results||25-Jul-22|
|GARNETINT||Quarterly Results;General||25-Jul-22||SHANTIGEAR||Quarterly Results||25-Jul-22|
|GLAXO||Quarterly Results||25-Jul-22||SHREEGANES||Quarterly Results||25-Jul-22|
|HGIND||Quarterly Results||25-Jul-22||SONATSOFTW||Bonus issue;Quarterly Results||25-Jul-22|
|IIFLWAM||Interim Dividend;Quarterly Results||25-Jul-22||STLTECH||Quarterly Results||25-Jul-22|
|JINDRILL||Quarterly Results||25-Jul-22||SUPREMEIND||Quarterly Results||25-Jul-22|
|JOHNPHARMA||Quarterly Results||25-Jul-22||SWARAJENG||Quarterly Results||25-Jul-22|
|JSL||Quarterly Results||25-Jul-22||SWASTIKA||Quarterly Results||25-Jul-22|
|JYOTHYLAB||Quarterly Results||25-Jul-22||TANLA||Quarterly Results||25-Jul-22|
|KAMDHENU||Quarterly Results;General||25-Jul-22||TATASTEEL||Quarterly Results;General||25-Jul-22|
|KESARENT||Audited Results||25-Jul-22||TATVA||Quarterly Results||25-Jul-22|
|KPITTECH||Quarterly Results||25-Jul-22||TECHM||Quarterly Results||25-Jul-22|
|LAXMIMACH||Quarterly Results||25-Jul-22||TEJASNET||Quarterly Results||25-Jul-22|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|BOMOXY-B1||25-Jul-22||Final Dividend – Rs. – 20.00||TCI||26-Jul-22||Final Dividend – Rs. – 2.00|
|BRIGADE||25-Jul-22||Final Dividend – Rs. – 1.50||TTKHEALTH||26-Jul-22||Final Dividend – Rs. – 10.00|
|DCMSRMIND||25-Jul-22||Final Dividend – Rs. – 0.50||VEDL||26-Jul-22||Interim Dividend – Rs. – 19.50|
|DEEPAKNI||25-Jul-22||Dividend – Rs. – 7.00||ABMKNO||27-Jul-22||Final Dividend – Rs. – 1.2500|
|ESCORP||25-Jul-22||Bonus issue 2:3||BEPL||27-Jul-22||Interim Dividend – Rs. – 1.00|
|GRAPHITE||25-Jul-22||Dividend – Rs. – 10.00||DALMIASUG||27-Jul-22||Dividend – Rs. – 1.00|
|HARDWYN||25-Jul-22||Bonus issue 1:2||EPL||27-Jul-22||Final Dividend – Rs. – 2.1500|
|KAMDHENU||25-Jul-22||Dividend – Rs. – 1.00||GABRIEL||27-Jul-22||Final Dividend – Rs. – 1.00|
|SHARDACROP||25-Jul-22||Final Dividend – Rs. – 3.00||HAWKINCOOK||27-Jul-22||Final Dividend – Rs. – 60.00|
|DIAMONDYD||26-Jul-22||Final Dividend – Rs. – 0.50||HEROMOTOCO||27-Jul-22||Final Dividend – Rs. – 35.00|
|GPPL||26-Jul-22||Final Dividend – Rs. – 2.40||KALPATPOWR||27-Jul-22||Final Dividend – Rs. – 6.50|
|HATSUN||26-Jul-22||Interim Dividend – Rs. – 6.00||LAKSELEC||27-Jul-22||Final Dividend – Rs. – 15.00|
|JMCPROJECT||26-Jul-22||Final Dividend – Rs. – 1.00||MENONBE||27-Jul-22||Interim Dividend – Rs. – 2.00|
|MAXINDIA||26-Jul-22||Reduction of Capital||MRF||27-Jul-22||Final Dividend – Rs. – 144.00|
|NELCAST||26-Jul-22||Final Dividend – Rs. – 0.30||NITTAGELA||27-Jul-22||Dividend – Rs. – 4.00|
|PIDILITIND||26-Jul-22||Dividend – Rs. – 10.00||PRAJIND||27-Jul-22||Final Dividend – Rs. – 2.70|
|SANDUMA||26-Jul-22||Right Issue of Equity Shares||PRAJIND||27-Jul-22||Special Dividend – Rs. – 1.50|
|SHAREINDIA||26-Jul-22||Interim Dividend – Rs. – 2.00||TCIEXP||27-Jul-22||Final Dividend – Rs. – 2.00|
|SIMPLXREA||26-Jul-22||Final Dividend – Rs. – 1.00||THANGAMAYL||27-Jul-22||Final Dividend – Rs. – 5.00|
|STEELCAS||26-Jul-22||Final Dividend – Rs. – 1.80||UPL||27-Jul-22||Final Dividend – Rs. – 10.00|
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