Morning-Outlook-Feature-Image

Morning-outlook-29june

NIFTY:

Nifty opened at 15757.45 with a gap down of 75 points. The index initially moved down but found strong intraday support around 15700 and bounced up. The index recorded its intraday low at 15710.15 and saw a sharp rally that filled the down gap. A sharp dip came in the afternoon but prices soon resumed its up move. The index again rallied with more pace and momentum and recorded its intraday high at 15892.10.Prices have finally closed at 15850.20 near its day high with a gain of just 18.15 points or 0.11% up. OIL GAS outperformed today, led the bulls, and ended with a gain of 2.27%. META L and IT also performed well today and ended with a gain of 1.67% & 1.25% respectively.

Support should emerge around 15200 which is also a recent swing low. The volatility again rose today as the INDIA V IX is now moving above the level 21. For normal volatility, it needs to come below level 18. We should step aside and avoid trading the index

BANK NIFTY:

Bank Nifty opened at 33578.20 with a gap down of 236 points. The index initially consolidated and then moved down. Prices have found support around 33500 and bounced up after recording its intraday low at 33503.30. A rally brought prices to its intraday high at 33745.30 and then prices again moved down. Prices have moved very choppily today and finally ended at 33692.25 wit h a loss of 122 points. PSU BANKS have outperformed today and ended with a gain of 0.46% whereas PVT BANKS have underperformed today and ended wit h a loss of 0.73%.Within the index, in terms of points, AXIS BANK contributed the highest on the upside while ICIC IBANK contributed the lowest.

The intraday range was very narrow today as the index moved within a range of just 242 points. This narrow movement indicates a sharp move is about to come. However, the direction is unknown. We should take a trade in the direction of a breakout tomorrow.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
TATAMOTOR 417 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 412 and for the target of  427.
IEX 167.15 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 167 with a stop loss of 169 and target of 162.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
HDFCMC 1740 PE BUY 24 CMP 18 35 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
MCDOWELL-N.22 Jun 770.05 0.03 6.56 10636250 ASTRAL.22.06 Jun 1633.8 -3.91 16.96 407825
DALBHARAT.22.06 Jun 1305.95 0.1 20.85 1128750 ASIANPAINT.22.06 Jun 2723.1 -3.57 17.15 3411750
RAMCOCEM.22.06 Jun 626.25 0.12 2.42 1759500 TITAN.22.06 Jun 1974.65 -3.37 2.8 4357875
NIFTY.22.06 Jun 15858.55 0.15 0.15 8501050 UBL.22.06 Jun 1454.7 -3.07 8.96 727650
NAUKRI.22.06 Jun 3898.95 0.16 0.07 920000 BANDHANBNK.22.06 Jun 276.05 -2.85 16.32 28114200
                                                                        Short Covering                                                                       Long Unwinding
UPL.22.06 Jun 657.75 0.06 -4.57 14535300 CHAMBLFERT.22.06 Jun 270.85 -5.05 -1.9 3244500
ATUL.22.06 Jun 8046.05 0.06 -9.28 55725 IEX.22.06 Jun 167.25 -4.48 -0.95 27228750
LICHSGFIN.22.06 Jun 329.8 0.08 -6.4 13864000 BERGEPAINT.22.06 Jun 581.2 -3.2 -0.69 2861100
AMARAJABAT.22 Jun 471.5 0.08 -9.14 2456000 RBLBANK.22.06 Jun 89.3 -2.62 -27.06 26082600
INTELLECT.22.06 Jun 668 0.15 -9.65 407250 ZEEL.22.06 Jun 217.4 -2.18 -0.8 49689000

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hdfc Ltd. 2180.85 -0.62 2995751 0 70.01 Nifty50 15850.2 0.11 75285
Power Grid Corporation o 210.3 -0.59 5077460 0 68.91 Niftybank 33642.45 -0.5 75285
Ambuja Cements Ltd 366.45 0.36 4285914 0 66.74 Nifty it 28509.1 0.58 75285
Colgate Palmolive (india 1514.2 0.21 197902 0 63.7 India Vix 21.45 2.14 75285
Jk Cement Limited 2100 0.34 214659 0 62.59 Nifty Fmcg 38173.1 0.18 75285
Bharti Airtel Limited 681.15 -0.41 3216376 0 62.11 Nifty Pharma 12214.55 -0.06 75285
Max Financial Services l 815.55 -0.69 381582 0 61.3 Nifty Realty 389.1 0.67 75285
Tata Consultancy Serv Lt 3318.15 0.1 1400009 0 60.03 Nifty Auto 11832.55 1.25 75288
Sun Pharma  Ltd 828.6 -0.84 2823585 0 58.69 Nifty Metal 4744 1.67 75288
Infosys Limited 1480.15 0.38 4411922 0 58.62 Nifty Financial Services 15559.05 -0.59 75288

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  Federal Fiscal Deficit (May) on 30thJune, 2022

INR:  Infrastructure Output (YoY) (May) on 30thJune, 2022

•USD:  GDP (QoQ) (Q1) on 29th June, 2022

•USD:  Crude Oil Inventories on 29th June, 2022

NEWS UPDATES

  • Reliance Jio board on Tuesday approved the appointment of Akash Ambani as Chairman of Board. Reliance Industries chairman and father of Akash Ambani, Mukesh Ambani, resigned as Director of the telecom major effective June 27. Jio named Raminder Singh Gujral, K V Chowdary as directors for a period of five years commencing from June 27, 2022. Jio also approved appointment of Pankaj Mohan Pawar as Managing Director of the company for five years commencing from June 27, 2022.

  • Nearly 87 per cent of enterprises in India are likely to increase annual artificial intelligence (AI) spending by more than 10 per cent in the next three years, a new report showed on Tuesday. Approximately 80 per cent of enterprises in the country have at least one AI model in production, indicating an extensive penetration of AI/machine learning (ML) across enterprises.

  • The name of Ruchi Soya Industries stands changed to Patanjali Foods with effect from June 24. The firm has also received the certificate of incorporation from the Ministry of Corporate Affairs, it said in an exchange filing. In May, Ruchi Soya Industries announced the acquisition of Patanjali Ayurved’s entire food business for Rs 690 crore, in order to accelerate its transition into an FMCG company.

  • Tata Motors will be hiking the prices of its commercial vehicles from July 1, 2022, the company said in a stock exchange filing on Tuesday. An increase in price in the range of 1.5-2.5% will come into effect across the range, depending upon individual model and variant, it said in a press release.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ABIRAFN General 29-Jun-22 SMCREDT General;Rights Issue 29-Jun-22
APTPACK Audited Results 29-Jun-22 VENUSPIPES Audited Results 29-Jun-22
ASHNI Preferential Issue of shares;General 29-Jun-22 ZKHATAUE Preferential Issue of shares;General 29-Jun-22
CIGNITI* Buy Back of Shares 29-Jun-22 BFLAFL General 30-Jun-22
DSSL General 29-Jun-22 COASTCORP General;Rights Issue 30-Jun-22
OZONEWORLD General 29-Jun-22 CONTCHM General 30-Jun-22
PANCHSHEEL Issue Of Warrants;Preferential Issue 29-Jun-22 FEDERALBNK General 30-Jun-22
PRECISION Quarterly Results;General 29-Jun-22 HINDCOPPER Preferential Issue of shares;General 30-Jun-22
SCANDENT A.G.M.;Preferential Issue;Rights Issue 29-Jun-22 MMTC Audited Results 30-Jun-22
SIS Buy Back of Shares 29-Jun-22 NAGREEKCAP General 30-Jun-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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
AAL 30-Jun-22 Final Dividend – Rs. – 1.50 MAHSCOOTER 30-Jun-22 Final Dividend – Rs. – 80.00
BAJAJ-AUTO 30-Jun-22 Dividend – Rs. – 140.00 NAM-INDIA 30-Jun-22 Final Dividend – Rs. – 7.50
BAJAJFINSV 30-Jun-22 Dividend – Rs. – 4.00 NUCLEUS 30-Jun-22 Final Dividend – Rs. – 7.00
BAJAJHLDNG 30-Jun-22 Final Dividend – Rs. – 25.00 PAISALO 30-Jun-22 Stock  Split From Rs.10/- to Rs.1/-
BAJFINANCE 30-Jun-22 Dividend – Rs. – 20.00 PTL 30-Jun-22 Dividend – Rs. – 2.00
BIOCON 30-Jun-22 Final Dividend – Rs. – 0.50 QUESTCAP 30-Jun-22 Final Dividend – Rs. – 2.50
EKI 30-Jun-22 Bonus issue 3:1 RATNAMANI 30-Jun-22 Bonus issue 1:2
ESCORTS 30-Jun-22 Dividend – Rs. – 7.00 RAYMOND 30-Jun-22 Final Dividend – Rs. – 3.00

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