Morning Outlook 30th August, 2022

NIFTY:

The NIFTY opened at 17188.65 with a big gap down of 370 points. The index recorded its intraday low at 17166.20 within the first five minutes of trading and then bounced up. Prices have seen a sharp intraday rally and went above 17300 with minor dips in between. The rally continued and prices recorded their intraday high at 17380.15. A deadline came afterwards but prices again saw some recovery towards the end of today’s trading session and finally closed at 17312.90 with a loss of 246 points or 1.40% down. All the sectoral indices have closed lower except the FMCG and OIL GAS. IT led the bears today and ended with a loss of 3.53% followed by the MEDIA which ended with a loss of 2.03%. The short-term trend is still sideways. It will be down if the index breaks today’s low in the coming days. We may see a relief rally so for tomorrow we are suggesting intraday trade. Look to buy above 17400 or above the first 15 minutes of high. Choose whichever is the highest. Keep a stop of 80 points and a target of 140 points from your entry price. Do not carry this trade for the next day.

BANK NIFTY:

The BANK NIFTY opened at 38111.60 with a big gap down of 925 points. For the first 5 minutes of trading, the index moved lower and recorded its intraday low at 37943.85. The index then bounced up and rallied sharply. Prices have recorded their intraday high at 38397.10 and then spent the rest of the day moving within a tight narrow range. The index finally closed at 38346.85 with a loss of 690 points. PVT and PSU BANKS both indices have performed almost today, saw a sharp decline, and closed lower by 0.86% & 1.63% respectively. Within the index, in terms of points, IDFC FlRST BANK contributed the highest on the upside while HDFC BANK contributed the lowest. Weak global markets triggered a big gap down opening in the BANK NIFTY. However, the index recovered some losses but still closed below 38500 with a loss of nearly 2%. The short-term trend is sideways. We have mentioned a support level of around 38000 in the BANK Index. Prices have bounced up from there. We may see some kind of relief rally here. We are recommending an intraday trade for tomorrow. Wait until till09:30 AM and then look for a buying opportunity either above the first 15 minutes of high or above 38400. Keep a stop of 210 points and a target of 380 points from your entry price. Do not carry this trade for the next day and close your position before the market closes.

 

TECHNICAL PICKS

DERIVATIVE PICKS

TOP DELIVERY PERCENTAGE

UPCOMING ECONOMIC DATA

NEWS UPDATES

• Benchmark indices ended lower on August 29 with Nifty below 17,350 amid selling across the sectors barring FMCG. At Close, the Sensex was down 861.25 points or 1.46% at 57,972.62, and the Nifty was down 246 points or 1.40% at 17,312.90. About 1414 shares have advanced, 1989 shares declined, and 205 shares are unchanged. Tech Mahindra, Infosys, Wipro, HCL Technologies and TCS were among the major Nifty losers. The gainers included Britannia Industries, Maruti Suzuki, Apollo Hospitals, Nestle India and Asian Paints.

• RIL chairman Mukesh Ambani said that the company will launch 5G services in select metro cities by Diwali and aims for full pan-India 5G coverage by December 2023. The company aims to connect small businesses, mom and pop shops and other commercial ventures across the country for business using its 5G services to offer its digital solutions.

• Tata Steel signed a Memorandum of Understanding (MoU) with the Government of Punjab for setting up a 0.75 MnTPA long products steel plant with a scrap-based electric arc furnace (EAF).

• RITES has secured a new business order with JV partner, for redevelopment of Kollam Railway Station for Rs 361.18 crore from Southern Railway, Ernakulam, Kerala. The share of RITES in the order is 51%.

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

BOARD MEETINGS

Company Name	Purpose	Meeting Date	Company Name	Purpose	Meeting Date
ACTIVE	A.G.M.	30-Aug-22	HINDOILEXP	General	30-Aug-22
AGARIND	A.G.M.	30-Aug-22	IECEDU	Quarterly Results;Audited Results	30-Aug-22
APOORVA	General	30-Aug-22	INFORTEC	General	30-Aug-22
BALTE	General	30-Aug-22	INOXWIND	General;Preferential Issue of shares	30-Aug-22
BRFL	Quarterly Results	30-Aug-22	INTECH	General	30-Aug-22
CEINSYSTECH	General;A.G.M.	30-Aug-22	IWEL	General;Preferential Issue of shares	30-Aug-22
CELESTIAL	Quarterly Results	30-Aug-22	JAYATMA	General;A.G.M.	30-Aug-22
CHOTHANI	A.G.M.	30-Aug-22	JAYIND	General;A.G.M.	30-Aug-22
DIDL	A.G.M.	30-Aug-22	JYOTIN	General;A.G.M.	30-Aug-22
DJSSS	A.G.M.	30-Aug-22	KEEPLEARN	General;Preferential Issue of shares	30-Aug-22
ELFORGE	A.G.M.	30-Aug-22	KENFIN	A.G.M.	30-Aug-22
ENBETRD	A.G.M.	30-Aug-22	KESARPE	General;A.G.M.;Audited Results	30-Aug-22
EVEXIA	General	30-Aug-22	KINETICENG	Preferential Issue of shares	30-Aug-22
FRUTION	A.G.M.	30-Aug-22	LANCER	A.G.M.	30-Aug-22
GANESHBE	A.G.M.	30-Aug-22	LASTMILE	A.G.M.	30-Aug-22
GETALONG	A.G.M.	30-Aug-22	MAAJTL	A.G.M.	30-Aug-22
GNRL	A.G.M.;General	30-Aug-22	MADHUVEER	General;A.G.M.	30-Aug-22
GREENCREST	Stock  Split;General	30-Aug-22	MARG	Audited Results	30-Aug-22
GYTRIPA	A.G.M.	30-Aug-22	MCDHOLDING	Audited Results	30-Aug-22
HALDER	General;Final Dividend	30-Aug-22	MICROSE	A.G.M.;General	30-Aug-22

CORPORATE ACTION

Company Name	Ex-Date	Purpose	Company Name	Ex-Date	Purpose
AARTECH	30-Aug-22	Dividend Rs. 0.50	PILANIINVS	01-Sep-22	Dividend Rs. 15
BENARAS	30-Aug-22	Final Dividend Rs. 10	RPIL	01-Sep-22	Split Rs. 10/- to Rs. 1/-
BENGALASM	30-Aug-22	Final Dividend Rs. 15	SOTL	01-Sep-22	Split Rs. 10/- to Rs. 2/-
BNALTD	30-Aug-22	Final Dividend Rs. 2	SUPERSHAKT	01-Sep-22	Final Dividend Rs. 1
GENUSPOWER	30-Aug-22	Dividend Rs. 0.25	SUPRIYA	01-Sep-22	Final Dividend Rs. 0.60
HEIDELBERG	30-Aug-22	Dividend Rs. 9	SURAJ	01-Sep-22	Final Dividend Rs. 1.1
JK AGRI	30-Aug-22	Dividend Rs. 1.5	SURYAROSNI	01-Sep-22	Dividend Rs. 4
KAKATCEM	30-Aug-22	Dividend Rs. 3	UGARSUGAR	01-Sep-22	Final Dividend Rs. 0.25
LAMBODHARA	30-Aug-22	Dividend Rs. 1.5	YAARI	01-Sep-22	Spin Off
MANYAVAR	30-Aug-22	Final Dividend Rs. 5	AIAENG	02-Sep-22	Dividend Rs. 9
TAMBOLI	30-Aug-22	Dividend Rs. 1	ANURAS	02-Sep-22	Final Dividend Rs. 1
BANARISUG	01-Sep-22	Dividend Rs. 10	APLAPOLLO	02-Sep-22	Final Dividend Rs. 3.5
GGL	01-Sep-22	Right Issue of Equity Shares	ENGINERSIN	02-Sep-22	Final Dividend Rs. 1
GSPL	01-Sep-22	Dividend Rs. 2	GROVY	02-Sep-22	Final Dividend Rs. 0.1
INDIAMART	01-Sep-22	Final Dividend Rs. 2	INDOAMIN	02-Sep-22	Final Dividend Rs. 0.5
JOINDRE	01-Sep-22	Dividend Rs. 1.25	NIKHILAD	02-Sep-22	Final Dividend Rs. 2
KANCHI	01-Sep-22	Dividend Rs. 2.5	QGO	02-Sep-22	Interim Dividend Rs. 0.10
LAKSHMIMIL	01-Sep-22	Final Dividend Rs. 25	SHIVTEX	02-Sep-22	Dividend Rs. 1.40
NBCC	01-Sep-22	Final Dividend Rs. 0.5	TVSSRICHAK	02-Sep-22	Dividend Rs. 16.30
PFC	01-Sep-22	Int. Div. Rs. 2.25	BHARATRAS	05-Sep-22	Final Dividend Rs. 1.5

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