Morning-Outlook-Feature-Image

Morning-outlook-3june

NIFTY:

Nifty opened at 16481.65 With a gap down of 41 points. The index moved further on the downside and recorded its intraday low at16443.05 within the first five minutes of trading. Prices have bounced up from there and started moving higher. The index recovered very quickly, filled the gap, and then moved further on the upside record its intraday high at 16646.40.The index finally closed at 16628 near its day high with a gain of 105.25 points or 0.64% up. BANK, FINANCIAL, and AUTO underperformed today and closed with loss. OIL GAS outperformed today by ending at 2.28% higher followed by the IT which ended nearly 2% up.

The short-term trend is up so we should only look for a buying opportunity. We are recommending the same trade tomorrow also. Buy on a dip at or below 16400.However, if the index moves up tomorrow then, we should look for a buying opportunity on a breakout above 16700. Keep a stop of 110 points and a target of 240 points.

BANK NIFTY:

Bank Nifty opened at 35470.95 With a gap down of 209 points. The index falls further on the downside and recorded its intraday low at 35385 and then bounced up. Prices have moved in a sideways manner, recorded its intraday high at 35676.20, and finally closed at 35610.60 with a loss of 69 points. PSU BANKS have outperformed today and ended with a gain of 1.02%.PVT BANKS have underperformed today and ended on a flat note. Within the index, in terms of points, AX IS BANK contributed the highest on the upside while HDFC BANK contributed the lowest.

Since the short-term trend is up so we may see a sharp move preferably on the upside. We are recommending the same trade for tomorrow also. It was a narrow range day today where the index moved with a range of just 291points. Further we Look to buy on a dip at or below 34500 or buy on a breakout above 36000 with a stop of 300 points and a target of 800 points from your entry price.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
RELIANCE 2274 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 2250 and for the target of  2320.
IGL 362 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 362 with a stop loss of 365 and target of 355.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
ADANIENT 2240 CE BUY 95 CMP 85 120 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BHARTIARTL.22.06 Jun 695.8 0.01 0.63 57559550 APOLLOHOSP.22.06 Jun 3659.95 -4.8 13.97 2078750
HDFCLIFE.22.06 Jun 608.05 0.03 0.82 21677700 NAUKRI.22.06 Jun 3936.7 -3.8 3.97 1624250
TECHM.22.06 Jun 1150.85 0.04 7.7 19617000 HEROMOTOCO.22.06 Jun 2667.05 -3.4 10.09 3973500
HINDALCO.22.06 Jun 411.4 0.09 3.84 38593575 IGL.22.06 Jun 363.35 -2.78 5.56 12504250
SHREECEM.22.06 Jun 21452.25 0.09 1.91 270750 ASTRAL.22.06 Jun 1770.15 -2.56 1.22 909700
                                                                        Short Covering                                                                       Long Unwinding
TORNTPHARM.22Jun 2802.2 0.03 -1.25 887250 CONCOR.22.06 Jun 653.85 -0.27 -0.44 6131200
NBCC.22.06 Jun 34.3 0.73 -0.47 22644000 MCX.22.06 Jun 1342.65 -0.04 -0.08 3033100
LUPIN.22.06 Jun 615.1 0.84 -0.35 9310900
TITAN.22.06 Jun 2221.25 1.06 -0.21 6698250
VEDL.22.06 Jun 321.15 1.55 -0.72 51926550

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Icici Lombard General In 1235.9 -1.34 443888 0 73.18 Nifty50 16628 0.64 73587
Power Grid Corporation o 225.55 -1.59 7553503 0 71.38 Niftybank 35613.65 -0.02 73587
Power Finance Corporatio 112.9 1.71 3689289 0 71.15 Nifty it 29792.4 1.82 73587
Hdfc Life Insurance Comp 607.9 0.12 5251523 0 68.52 India Vix 20.32 -2.5 73587
Havells India Limited 1171.2 -1.67 1052575 0 68.31 Nifty Fmcg 38497.3 0.16 73587
Coalindia 198.2 1.1 17644375 0 66.36 Nifty Pharma 12500.35 0.45 73587
Tata Consultancy Serv Lt 3423 2.02 2657840 0 66.22 Nifty Realty 410.8 0.91 73587
Hdfc Ltd. 2289.6 -1.73 2873008 0 64.44 Nifty Auto 11491.4 -0.62 73587
Icici Bank Ltd. 749.75 -0.39 10949414 0 63.34 Nifty Metal 5397.55 1.14 73587
Tata Communications Ltd. 968.75 -0.21 469194 0 62.61 Nifty Financial Services 16447.4 -0.33 73587

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Nikkei Services PMI (May) on 3rd June, 2022

INR: Bank Deposit and  Loan Growth on 3rd June, 2022

•USD:  Nonfarm Payrolls (May) on 3rd June, 2022

•USD:  Unemployment Rate (May) on 3rd June, 2022

NEWS UPDATES

  • Coal India, the world’s largest coal miner by output, will issue a short-term and a medium-term tender next week to import coal for utilities, two senior officials at the company said, as shortages raise concerns about renewed power outages. The state-run miner, which has little experience in importing coal, was asked to place orders for shipments from overseas by the power ministry last week as utilities suggested multiple tenders would lead to confusion and sought centralised procurement through Coal India.

  • UltraTech, India’s largest cement maker, on Thursday announced a new capital expenditure (capex) plan of Rs 12,886 crore, responding to competition intensifying in the sector. The expenditure would increase capacity by 22.6 million tonnes per annum (mtpa) through a mix of brownfield and greenfield projects. This would entail setting up integrated and grinding units as well as bulk terminals across the country, UltraTech said about its board decision, with commercial production from these units going on stream in a phased manner by financial year 2024-25 (FY25).

  • Oil and Natural Gas Corporation (ONGC), citing possibility of crude oil fields in Buxar and Samastipur districts of Bihar, has applied for the petroleum exploration license before the state government.

  • ITC Infotech on Thursday said it has paid an amount of USD 33 million (around Rs 256 crore) to PTC as part of an agreement to acquire a substantial portion of the American company’s product lifecycle management implementation services.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ARSHIYA General 03-Jun-22 SKC General 03-Jun-22
ASHNI General 03-Jun-22 SUPRAP General 03-Jun-22
ASRL General;Rights Issue 03-Jun-22 UDAYJEW General 03-Jun-22
HDIL Quarterly Results 03-Jun-22 VIVIMEDLAB Audited Results;Quarterly Results 03-Jun-22
INNOVTEC Audited Results 03-Jun-22 DIVSHKT General 04-Jun-22
JMDVL General 03-Jun-22 HIPPOCABS Audited Results;Half Yearly Results 04-Jun-22
KOCL General 03-Jun-22 SABOOBR General 04-Jun-22
MTPL Audited Results 03-Jun-22 THEINVEST Scheme of Arrangement 04-Jun-22
OPTOCIRCUI Quarterly Results 03-Jun-22 TTFL General 04-Jun-22
RELINFRA General 03-Jun-22 VALECHAENG General 04-Jun-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
AYOME 03-Jun-22 E.G.M. VBL 06-Jun-22 Bonus issue 1:2
TORNTPHARM 03-Jun-22 Final Dividend – Rs. – 8.0000 ZSATYASL 06-Jun-22 Right Issue of Equity Shares
TORNTPHARM 03-Jun-22 Special Dividend – Rs. – 15.0000 AARCOM 07-Jun-22 Amalgamation
 GALLISPAT 06-Jun-22 Amalgamation GICRE 07-Jun-22 Interim Dividend – Rs. – 2.2500
APCOTEXIND 06-Jun-22 Final Dividend – Rs. – 3.0000 PGIL 07-Jun-22 Interim Dividend – Rs. – 5.0000
AUROPHARMA 06-Jun-22 Interim Dividend – Rs. – 4.5000 GGENG 08-Jun-22 Stock  Split From Rs.2/- to Rs.1/-
FAZE3Q 06-Jun-22 Interim Dividend – Rs. – 0.5000 JAGSNPHARM 08-Jun-22 E.G.M.
INEOSSTYRO 06-Jun-22 Interim Dividend – Rs. – 105.0000 KANSAINER 08-Jun-22 Final Dividend – Rs. – 1.0000
MMFL 06-Jun-22 Interim Dividend – Rs. – 6.0000 ASIANPAINT 09-Jun-22 Final Dividend – Rs. – 15.5000
NINSYS 06-Jun-22 Bonus issue 1:2 ASIANTILES 09-Jun-22 Final Dividend – Rs. – 0.7000
RALLIS 06-Jun-22 Final Dividend – Rs. – 3.0000 AUBANK 09-Jun-22 Bonus issue 1:1

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