Morning-Outlook-Feature-Image

Morning-outlook-29july

NIFTY:

Today, the NIFTY opened at 16774.85 with a gap of 133 points. The index initially consolidated for about 45minutes in a narrow range and broke out on minutes in broke the upside. Prices have recorders intraday lower at 16746.25 and saw a sharp upside rally after 10 AM. In the afternoon, prices take a pause, again consolidated, and eventually the upside. However, the index finds support quickly, moved up again sharply, and recorded its intraday high at 16947.65. Prices have finally closed at 16929.90    with a gainof287.80 points or 1.73%. All sectoral indices have seen an upside move today and closed higher. FINANCIAL, IT, and REALTY outperformed today and ended with more than a 2% gain. BANK and METAL also did well today by gaining nearly 2%. The short-term trend is up and intact. We have identified a narrow trading range inside the 16450 – 16700 zone. The index broke decisively on the upside and rallied higher. Prices have almost reached the pattern target of this breakout which comes around 16950. Support is now visible around 16700. While a strong resistance zone is visible inside the 16900 – 17000 range. Since we do not have an adequate setup to trade we will avoid trading the index for the time being. Trend The long-term trend is up while the long-term momentum has been moving within the strength zone for the past few trading days.

BANK NIFTY:

Today, the BANK NIFTY opened at 37102.45 with a big gap of 307 points. The index recorded its intraday low at 37028.50 in its initial trades and continued moving higher. The rally was slow and modest but prices kept on inching upwards for the whole day. The index recorded its intraday high at 37414.40 and finally closed at 37336.25 with a gain of 541 points. PVT BANKS have performed well today and closed higher by 1.86%. PVT BANKS have also moved up today and ended with a gain of 0.38Within the index, in terms of points, KOTAK BANK contributed the highest on the upside while BANK BARODA contributed the lowest. BANK NIFTY recorded back-to-back uptrend days that brought the index above 37000 resistance. However, today prices have moved in a narrow range during the day but we have seen a big gap up opening so we can ignore this. Yesterday, we have mentioned a narrow trading range is now visible on the daily timeframe chart inside 35900 – 37000. This range has broken out on the higher side today giving us a pattern target of around 38100.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE
HDFC BANK FUT 1422.40 BUY Stock made a base at lower levels and gave breakout, currently price waiting at higher levels to continue its upside journey. One should buy at CMP for the target of 1434.55 with SL of 1414.15
BHARTI AIRTEL FUT 667.50 SELL Short term trend of the stock is down, after some pullback, the price again gets weak and could continue its downtrend. One should sell @CMP for the target of 661 with SL of 672.25.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
HDFC (CE) 2400 BUY 41 CMP 33 56 BREAKOUT
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
TATASTEEL.22.07 Jul 100.1 4.47 958.38 90219000 ITC.22.07 Jul 302.65 -0.16 5.13 38800000
NTPC.22.07 Jul 149.9 0.1 27.52 41627100 MOTHERSON.22.07 Jul 127.55 -1.54 52.8 20524500
HINDALCO.22.07 Jul 390.15 0.57 32.51 22357850 COALINDIA.22.07 Jul 202.15 -0.49 3.24 17388000
ZEEL.22.07 Jul 248.95 3.73 6.77 20352000 IOC.22.07 Jul 72.1 -0.14 10.74 15375750
AMBUJACEM.22.07 Jul 371.7 0.16 8.01 17769600 BHARTIARTL.22.07 Jul 668 -1.15 44.25 13756950
                                                                        Short Covering                                                                       Long Unwinding
PNB.22.07 Jul 32.75 2.18 -7.91 97200000 IDEA.22.07 Jul 8.6 -2.27 -1.89 265580000
IDFCFIRSTB.22.07 Jul 36.45 1.67 -6.16 95595000 GMRINFRA.22.07 Jul 35.3 -0.7 -1.97 46935000
IDFC.22.07 Jul 54.2 1.21 -5.12 31520000 FEDERALBNK.22.07 Jul 106.8 -0.51 -13.1 24470000
BHEL.22.07 Jul 53.05 0.66 -6.48 29526000 BANKBARODA.22.07 Jul 117.45 -0.89 -16.83 18322200
ONGC.22.07 Jul 130.45 1.08 -10.62 26353250 TATAPOWER.22.07 Jul 217.8 -0.32 -1.38 17361000

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Power Grid Corporation 214.2 1.69 9894482 0 73.94 Nifty50 16929.6 1.73 84648
Sbi Life Insurance Compa 1191.45 3.66 1043318 0 71.26 Niftybank 37378.15 1.62 84648
Crompton Greaves Consume 383.35 0.66 2277938 0 70.98 IndiaVix 17.01 -6.18 84648
Hdfc Asset Management Co 1945.15 2.04 448907 0 70.56 NiftyFmcg 42271.65 0.56 84648
Kotak Mahindra Bank Limi 1828.5 4.24 2154401 0 69.65 NiftyPharma 12660.65 0.25 84648
Hdfc Life Insurance Comp 531.6 1.99 11504269 0 68.05 NiftyAuto 12383.7 0.47 84648
Icici Lombard General In 1189.2 0.07 849859 0 66.23 NiftyFinancialServices 17280 2.37 84648
Ipca Laboratories Ltd. 995.3 0.95 237401 0 65.29 NiftyMetal 5282.1 1.7 84648
Icici Bank Ltd. 814.6 1.76 11124518 0 64.53 NiftyRealty 446.8 2.07 84648
Polycab India Limited 2272.05 2.2 673056 0 62.33 Niftyit 28663.05 2.81 84648

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  Infrastructure Output (YoY) (Jun) on 29th  July 2022

INR:  Bank Loan Growth and Deposit Growth on 29th July, 2022

•USD:  Manufacturing PMI (Jul) on 1st August, 2022

NEWS UPDATES

  • Diagnostic services provider Dr Lal Path Labs on Thursday said its consolidated net profit declined 57 per cent to Rs 58 crore for the first quarter ended June 30. The company had reported a net profit of Rs 134 crore in the April-June period of the last fiscal. Revenue from operations declined to Rs 503 crore in the period under review from Rs 607 crore a year ago, Dr Lal PathLabs said in a regulatory filing.

  • Nestle warned on Thursday that price hikes could eventually weigh on sales volumes for the maker of Cheerios cereals, Kit Kat bars and Nescafe as it raised its full-year sales growth forecast to 7-8% and trimmed its margin guidance.

  • Backed by a substantial rise in other income, Dr Reddy’s Laboratories Ltd on Thursday said its consolidated profit after tax (PAT) for the quarter ended June 30, 2022 was up by 108 per cent at Rs 1187.6 crore against Rs 570.8 crore in the same quarter a year ago. Revenues during the quarter under discussion were up by six per cent to Rs 5,215.4 crore compared to Rs 4,919.4 crore in the first quarter of FY22.

  • Vedanta Ltd on Thursday reported 6% rise in net profit at Rs 5,592 crore for the quarter ending June 30, 2022. The company’s consolidated revenue increased 36% to Rs 38,251 crore. Sunil Duggal, Chief Executive Officer, Vedanta, said: “I am pleased to report that we have started FY23 with strong performance, underpinned by our world class assets and strength of our business model. We recorded best-ever 1Q EBITDA of Rs 10,741 crore and PAT of Rs 5,592 crore despite inflationary cost pressures.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
3IINFOTECH General;Quarterly Results 29-Jul-22 HDFCLIFE ESOP;Preferential Issue of shares 29-Jul-22
ASAHIINDIA General;Quarterly Results 29-Jul-22 HERITGFOOD Quarterly Results 29-Jul-22
ASHOKLEY Quarterly Results 29-Jul-22 HIL Quarterly Results 29-Jul-22
AUBANK General 29-Jul-22 HKG General 29-Jul-22
AVANTEL Quarterly Results 29-Jul-22 IOC Quarterly Results 29-Jul-22
CARTRADE Quarterly Results 29-Jul-22 IRBINVIT Quarterly Results 29-Jul-22
CHEMBOND Quarterly Results 29-Jul-22 JKPAPER Quarterly Results 29-Jul-22
CHOLAFIN General;Quarterly Results 29-Jul-22 METROBRAND Quarterly Results 29-Jul-22
CIPLA Quarterly Results 29-Jul-22 MOREPENLAB Quarterly Results 29-Jul-22
CREDITACC Quarterly Results 29-Jul-22 NAZARA Quarterly Results 29-Jul-22
DAAWAT Quarterly Results 29-Jul-22 NTPC General;Quarterly Results 29-Jul-22
DALMIASUG Quarterly Results 29-Jul-22 ORIENTCQ Quarterly Results 29-Jul-22
DATAMATICS Quarterly Results 29-Jul-22 PEL Quarterly Results 29-Jul-22
DEEPAKFERT Quarterly Results 29-Jul-22 RACLGEAR Quarterly Results 29-Jul-22
DFM Quarterly Results 29-Jul-22 RAIN Interim Dividend;Quarterly Results 29-Jul-22
DLF Quarterly Results 29-Jul-22 ROUTE* Quarterly Results 29-Jul-22
DWARKESH Quarterly Results 29-Jul-22 STAR Quarterly Results 29-Jul-22
EASEMYTRIP Quarterly Results 29-Jul-22 STARHEALTH Quarterly Results 29-Jul-22
EKI Quarterly Results 29-Jul-22 SUNDRMFAST Quarterly Results 29-Jul-22
EMAMILTD Quarterly Results 29-Jul-22 SUNPHARMA Quarterly Results 29-Jul-22
EXIDEIND A.G.M.;Quarterly Results 29-Jul-22 TIPSINDLTD Quarterly Results 29-Jul-22
GMRINFRA Quarterly Results 29-Jul-22 TORNTPHARM Quarterly Results 29-Jul-22
GPTINFRA Quarterly Results 29-Jul-22 VSTIND Quarterly Results 29-Jul-22
GRINDWELL Quarterly Results 29-Jul-22 YESBANK General 29-Jul-22
HDFC Quarterly Results 29-Jul-22 ZYDUSWELL Quarterly Results 29-Jul-22

 

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
AMIORG 29-Jul-22 Final Dividend – Rs. – 3.00 GAEL 01-Aug-22 Dividend – Rs. – 0.6500
ANUP 29-Jul-22 Final Dividend – Rs. – 8.00 GAIL 01-Aug-22 Final Dividend – Rs. – 1.00
BCPL 29-Jul-22 Final Dividend – Rs. – 0.70 HIRECT 01-Aug-22 Dividend – Rs. – 0.40
CLEAN 29-Jul-22 Final Dividend – Rs. – 3.2500 IIFLWAM 01-Aug-22 Interim Dividend – Rs. – 15.00
DVL 29-Jul-22 Final Dividend – Rs. – 4.00 IRBINVIT 01-Aug-22 Income Distribution (InvIT)
EMKAY 29-Jul-22 Final Dividend – Rs. – 1.2500 KIRLOSIND 01-Aug-22 Final Dividend – Rs. – 10.00
GLOSTERLTD 29-Jul-22 Dividend – Rs. – 25.00 MENNPIS 01-Aug-22 Final Dividend – Rs. – 0.7500
GLOSTERLTD 29-Jul-22 Special Dividend – Rs. – 10.00 NBVENTURES 01-Aug-22 Final Dividend – Rs. – 6.00
INDIGRID 29-Jul-22 Income Distribution (InvIT) PAUSHAKLTD 01-Aug-22 Final Dividend – Rs. – 12.00
IPRINGLTD 29-Jul-22 Dividend – Rs. – 2.00 PGINVIT 01-Aug-22 Income Distribution (InvIT)
NAVNETEDUL 29-Jul-22 Final Dividend – Rs. – 1.50 PUNJABCHEM 01-Aug-22 Final Dividend – Rs. – 3.00
SAINTGOBAIN 29-Jul-22 Dividend – Rs. – 1.50 RATNAMANI 01-Aug-22 Dividend – Rs. – 14.00
SAINTGOBAIN 29-Jul-22 Special Dividend – Rs. – 1.50 SUDARSCHEM 01-Aug-22 Final Dividend – Rs. – 5.00
SAYAJIIND 29-Jul-22 Dividend – Rs. – 1.00 UNICHEMLAB 01-Aug-22 Final Dividend – Rs. – 4.00
TCFCFINQ 29-Jul-22 Dividend – Rs. – 1.20 ABBOTINDIA 02-Aug-22 Final Dividend – Rs. – 145.00
VINYLINDIA 29-Jul-22 Dividend – Rs. – 5.00 ABBOTINDIA 02-Aug-22 Special Dividend – Rs. – 130.00
VINYLINDIA 29-Jul-22 Special Dividend – Rs. – 5.00 ANANDRATHI 02-Aug-22 Final Dividend – Rs. – 6.00
ZENLABS 29-Jul-22 Interim Dividend – Rs. – 0.2500 CENTUM 02-Aug-22 Final Dividend – Rs. – 2.50
ALBERTDA 01-Aug-22 Dividend – Rs. – 9.00 CHOLAHLDNG 02-Aug-22 Dividend – Rs. – 0.5500
BHARTIARTL 01-Aug-22 Dividend – Rs. – 3.00 CUMMINSIND 02-Aug-22 Final Dividend – Rs. – 10.50

 

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