Morning-Outlook-Feature-Image

Morning-outlook-26july

NIFTY:

Today, the NIFTY opened at 16662.55 with a gap down of 57 points. The index initially moved up and filled the gap. Prices have found strong resistance there and moved down. The index recorded its intraday high at 16706.05 and saw a down move of almost 150 points. Prices recorded their intraday low at 16564.25 and then moved higher. A rally brought prices near their opening tick and then again turned down for the last one hour of trading. The index finally closed at 16631 with a loss of 88.45 points or 0.53% down. METAL outperformed today and closed higher by 1.46%. AUTO, PHARMA, and OIL GAS underperformed today and closed lower by more than 1%. BANKS have ended almost on a flat note. The short-term is up. As we have mentioned previously also, the support is visible around 16300 while resistance should emerge around 16850. The NIFTY has broken its six days of the higher closing streak. Fresh trades should emerge around the mentioned support and resistance levels. As far as prices are moving between these levels, we should step aside and avoid trading the index.

BANK NIFTY:

Today, the BANK NIFTY opened at 36766.70 without much of a gap. The index initially moved up for the first 15 minutes of trading and recorded its intraday high at 37011.20. Prices then started drifting downwards, erasing all the gains and moved further on the downside to recording their intraday low at 36464.65. Prices then consolidate and then rallied to finally end at 36667.85 with a loss of just 70 points. PSU BANKS have underperformed today, saw a sharp downside move, and closed lower by 0.60%. PVT BANKS have ended almost on a flat note today. Within the index, in terms of points, INDUSIND BANK contributed the highest on the upside while KOTAK BANK contributed the lowest. Support is now visible around 35500 while resistance is visible around 37000. Prices have rallied, touched 37000 and then move down. As of now, we should step aside and avoid trading the index.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
HCL TECH 930.65 BUY The stock is showing a reversal from its bottom level and gave good closing. The stock can be bought above 932.30 with a stop loss of 927 and for the target of  940.
BAJAJ AUTO 4021.15 SELL The stock has been continuously moving upside but today at resistance it made an evening star pattern, therefore, it can be sold below 3996 with a stop loss of 4034 and a target of 3933.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
                      ACC CE            2240     BUY 6.75 CMP 2.50 15 TRENDLINE BREAKOUT
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
NAVINFLUOR.22.07 Jul 4177.4 10.2 33.13 537975 RELIANCE.22.07 Jul 2419.05 -3.36 8.09 31494500
SRF.22.07 Jul 2380.95 3.86 5.4 3702000 COLPAL.22.07 Jul 1557.2 -3.1 7.4 2332050
TATASTEEL.22.07 Jul 966 3.03 9.65 26039325 DALBHARAT.22.07 Jul 1548.2 -3 0.87 925000
INDHOTEL.22.07 Jul 259.75 2.65 6.13 20829938 MARUTI.22.07 Jul 8620.9 -2.55 3.16 3537200
MCDOWELL-N.22.07Jul 863.45 2.38 4.28 12346250 PEL.22.07 Jul 1797.4 -2.3 5.5 3449050
                                                                        Short Covering                                                                       Long Unwinding
GAIL.22.07 Jul 147.55 4.06 -8.98 23058000 GSPL.22.07 Jul 228.6 -4.71 -0.22 3370000
DELTACORP.22.07 Jul 184.65 3.3 -4.77 14142700 BANDHANBNK.22.07 Jul 273.6 -4.37 -4.82 23887800
JINDALSTEL.22.07 Jul 370.8 2.76 -13.95 27826250 IDFC.22.07 Jul 53.45 -3.95 -0.83 1.02E+08
RBLBANK.22.07 Jul 94.7 2.71 -11.71 31555000 M&M.22.07 Jul 1134.7 -3.81 -11.05 11820900
CANFINHOME.22.07 Jul 552.55 2.7 -2.02 2555475 INDIAMART.22.07 Jul 3933.8 -3.18 -10.55 263400

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Oracle Fin Serv Soft Ltd 3228.45 -0.15 60053 0 67.44 Nifty50 16631 -0.53 80922
Power Grid Corporation o 207.9 -1 4976396 0 66.7 Niftybank 36726.4 -0.03 80922
Indian Oil Corp. Ltd. 72.1 -0.07 10124538 0 66.5 Nifty it 28216 0.17 80922
Hindustan Unilever Ltd 2623.6 -0.64 1253821 0 66.21 India Vix 17.68 6.19 80922
Asian Paints Limited 3104.95 1.22 985844 0 64.31 Nifty Fmcg 42386.95 -0.27 80922
Dabur India Ltd. 567.9 -1.46 1440874 0 64.05 Nifty Pharma 12488.8 -1.02 80922
Icici Bank Ltd. 800.9 0.11 21034148 0 63.34 Nifty Realty 437.5 -0.46 80922
Hdfc Ltd. 2308.65 0.55 1931624 0 63.3 Nifty Auto 12423.7 -1.67 80922
Godrej Cons Products Ltd 868.7 -1.66 663666 0 60.19 Nifty Metal 5168.55 1.46 80922
Tata Consultancy Serv Lt 3166.75 -0.13 1797504 0 57.33 Nifty Financial Services 16837.55 -0.12 80925

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
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

NEWS UPDATES

  • Tech Mahindra (TechM) on Monday reported a 16.4 per cent year-on-year (YoY) drop in consolidated net profit at Rs 1,132 crore compared with Rs 1,353.20 crore in the same quarter last year. The profit was in line with ET NOW analysts’ poll of Rs 1,120 crore. Revenue for the quarter came in at Rs 12,708 crore, up 24.6 per cent YoY over Rs 10,197.60 crore in the corresponding quarter last year.

  • Engineering giant Larsen & Toubro (L&T) is selling its eight operational road assets that the company built and operated to Edelweiss Infrastructure Yield Plus, an infrastructure fund managed by Edelweiss Alternative Asset Advisors, for an enterprise valuation of Rs 7,000 crore, said people aware of the matter.

  • Godrej & Boyce on Monday said it is investing an additional Rs 300 crore at its facility in Gujarat’s Dahej to double revenues from the process equipment arm by FY25. Godrej Process Equipment (GPE) is investing to strengthen presence in the hydrogen and power sectors for delivery of specialised and large equipment for which Rs 300 crore investment is being made, according to an official statement.

  • Jyothy Labs on Monday reported an 18.73 per cent rise in its consolidated net profit at Rs 47.73 crore in the first quarter ended June 30, 2022. It had posted a net profit of Rs 40.20 crore in the April-June quarter of the last fiscal year, Jyothy Labs said in a regulatory filing. Jyothy Labs’ revenue from operations was up 13.66 per cent to Rs 597.20 crore during the period under review, as against Rs 525.40 crore in the corresponding period of the previous financial year.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
7SEASL General;Quarterly Results 26-Jul-22 MAXHEIGHTS A.G.M. 26-Jul-22
ABSLAMC Quarterly Results 26-Jul-22 MTEDUCARE A.G.M.;General;Quarterly Results 26-Jul-22
ANNAINFRA A.G.M. 26-Jul-22 NATIONSTD Voluntary Delisting of Shares 26-Jul-22
APOLLOPIPES Quarterly Results 26-Jul-22 NICCOUCO Quarterly Results 26-Jul-22
ASIANPAINT Quarterly Results 26-Jul-22 OPTOCIRCUI Quarterly Results 26-Jul-22
ASRL General;Quarterly Results 26-Jul-22 PNBGILTS Quarterly Results 26-Jul-22
BAGFILMS A.G.M. 26-Jul-22 RAMCOSYS General;Quarterly Results 26-Jul-22
BAIDFIN A.G.M.;Final Dividend;General; Results 26-Jul-22 RBL Quarterly Results 26-Jul-22
BAJAJ-AUTO* Quarterly Results 26-Jul-22 RELAXO Quarterly Results 26-Jul-22
BRANDBUCKT General 26-Jul-22 SANOFI Interim Dividend;Quarterly Results 26-Jul-22
EIHAHOTELS Quarterly Results 26-Jul-22 SHALBY Quarterly Results 26-Jul-22
EPL Quarterly Results 26-Jul-22 SHOPERSTOP General;Quarterly Results 26-Jul-22
ETHOSLTD A.G.M.;Quarterly Results 26-Jul-22 SIS Quarterly Results 26-Jul-22
GCKL Quarterly Results 26-Jul-22 SJCORP General 26-Jul-22
GOODLUCK Quarterly Results 26-Jul-22 SOUTHBANK Quarterly Results 26-Jul-22
GRNLAMIND Quarterly Results 26-Jul-22 SPANDANA General 26-Jul-22
HYBRIDFIN Quarterly Results 26-Jul-22 SUVEN Quarterly Results 26-Jul-22
IMFA Quarterly Results 26-Jul-22 SYMPHONY Interim Dividend;Quarterly Results 26-Jul-22
INDIGRID General;Quarterly Results 26-Jul-22 TATAINVEST Quarterly Results 26-Jul-22
INTLCOMBQ Quarterly Results 26-Jul-22 TATAPOWER Quarterly Results 26-Jul-22
JAMSHRI Quarterly Results 26-Jul-22 TTKHEALTH Quarterly Results 26-Jul-22
JK AGRI Quarterly Results 26-Jul-22 UDAICEMENT Quarterly Results 26-Jul-22
KABRAEXTRU Quarterly Results 26-Jul-22 UJJIVANSFB Quarterly Results 26-Jul-22
KEI Quarterly Results 26-Jul-22 UNIONBANK Audited Results 26-Jul-22
LT Quarterly Results 26-Jul-22 UNITDSPR Quarterly Results 26-Jul-22
MAHEPC Quarterly Results 26-Jul-22 UTIAMC General;Quarterly Results 26-Jul-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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
TCI 26-Jul-22 Final Dividend – Rs. – 2.00 AKZOINDIA 28-Jul-22 Final Dividend – Rs. – 35.00
TTKHEALTH 26-Jul-22 Final Dividend – Rs. – 10.00 AMARAJABAT 28-Jul-22 Final Dividend – Rs. – 0.50
VEDL 26-Jul-22 Interim Dividend – Rs. – 19.50 ASALCBR 28-Jul-22 Final Dividend – Rs. – 1.00
ABMKNO 27-Jul-22 Final Dividend – Rs. – 1.2500 AUBANK 28-Jul-22 Final Dividend – Rs. – 1.00
BEPL 27-Jul-22 Interim Dividend – Rs. – 1.00 AUTOAXLES 28-Jul-22 Final Dividend – Rs. – 15.00
DALMIASUG 27-Jul-22 Dividend – Rs. – 1.00 BAJAJELEC 28-Jul-22 Final Dividend – Rs. – 3.00
EPL 27-Jul-22 Final Dividend – Rs. – 2.1500 BENGALT 28-Jul-22 Final Dividend – Rs. – 1.00
GABRIEL 27-Jul-22 Final Dividend – Rs. – 1.00 DLINKINDIA 28-Jul-22 Final Dividend – Rs. – 3.00
HAWKINCOOK 27-Jul-22 Final Dividend – Rs. – 60.00 EMBASSY 28-Jul-22 Income Distribution RITES

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