morning-outlook-july5

NIFTY:

Nifty opened at 15710.50 with a gap down of just 42 points. The index attempted to move higher but failed to do so and fell further for the first hour of trading. The index found support around 15650 and bounced up after recording its intraday low at 15661.80. Prices kept on rising and then saw a sharp dip in the afternoon. The NIFTTY again found support and moved up to record its intraday high at 15852.35. The index finally closed at 15835.35 near its day high with a gain of 83.30 points or 0.53% up. FMCG continued its outperformance and ended wit h a gain of 2.66% followed by BANK and FINANCIAL which ended at more than 1%. METAL,IT, and OIL GAS underperformed today and ended with a loss. The short-term trend is sideways for the past few trading days. Moreover, we have mentioned a strong resistance zone around the 15800 – 16000 range. The zone is still intact and prices are finding it difficult to cross above We may see a sharp move soon here since the index is moving within a narrow range for the past 7 trading days. This is a contraction and it should lead to an expansion.

BANK NIFTY:

Bank Nifty opened at 33558.85 with a gap down of just 47 points. The index initially consolidated for about one and half hours and then started moving higher after recording its intraday low at 33515.60. Prices moved up and then again consolidated which eventually broke on the upside. The index recorded its intraday high at 33978.50 and finally closed at 33964.75 wit ha gain of 359 points. PVT and PSU BANKS both have performed almost the same today, saw an upside move, and ended wit h a gain of 1.53% & 1.66% respectively. Within the index, in terms of points, ICIC IBANK contributed the highest on the upside while AU BANK contributed the lowest. Our long trade was executed there and remained intact as prices did not hit the suggested stop and target. We are recommending traders to stay long with a stop at 33700 and a target at 34500.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
SIEMENS 2521 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 2500 and for the target of  2550.
TCS 3235 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 3230  with a stop loss of 3270 and target of 3170.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
SBIN 475 CE BUY 12.45 CMP 8 20 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
LUPIN.22.07 Jul 627.5 0.01 1.96 6043500 ONGC.22.07 Jul 126.3 -2.96 3.49 79906750
DELTACORP.22.07 Jul 173.55 0.09 5.25 15341000 FSL.22.07 Jul 101.55 -2.5 3.74 11403600
INDIACEM.22.07 Jul 161.8 0.09 1.38 9999200 TCS.22.07 Jul 3236 -2.39 12.19 12682200
HONAUT.22.07 Jul 32810 0.1 2.15 15705 BSOFT.22.07 Jul 337.55 -2.36 21.09 3403400
HDFC.22.07 Jul 2214.95 0.11 1.1 24952200 IDEA.22.07 Jul 8.35 -2.34 1.57 5.83E+08
                                                                        Short Covering                                                                       Long Unwinding
MRF.22.07 Jul 71240 0.24 -0.34 94090 LICHSGFIN.22.07 Jul 337.7 -0.35 -0.06 16242000
COALINDIA.22.07 Jul 182.35 0.69 -3.96 32281200 COFORGE.22.07 Jul 3489 -0.35 -1.57 517650
NTPC.22.07 Jul 142.1 0.85 -0.19 67020600 DIVISLAB.22.07 Jul 3648 -0.13 -0.48 2526750
BATAINDIA.22.07 Jul 1723.2 1.09 -0.07 1582625
SBICARD.22.07 Jul 786 1.37 -0.28 7155200

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Kotak Mahindra Bank Limi 1670.9 0.19 1868781 0 72.02 Nifty50 15835.35 0.53 78351
Hdfc Bank Ltd. 1355.65 0.14 4243740 0 70.76 Niftybank 33940.9 1.2 78351
Hcl Technologies Ltd. 984.6 0.95 2738846 0 67.88 Nifty it 27890.65 -0.62 78351
Oracle Fin Serv Soft Ltd 3046.9 -0.4 28635 0 66.14 India Vix 20.97 -1.31 78357
Havells India Limited 1133.1 1.97 693543 0 65.15 Nifty Fmcg 39755.65 2.66 78357
Dabur India Ltd. 525 2.69 2119912 0 63.79 Nifty Pharma 12218.2 -0.35 78357
Tata Consultancy Serv Lt 3235.05 -2.41 2622535 0 62.61 Nifty Realty 392.6 0.31 78357
Colgate Palmolive (india 1521.6 0.41 511438 0 62.49 Nifty Auto 11692.1 -0.17 78357
Power Grid Corporation o 210.7 2.03 15133710 0 60.98 Nifty Metal 4649.95 -0.99 78357
Sbi Cards And Payment Se 786 1.73 838947 0 59.84 Nifty Financial Services 15766.5 0.93 78357

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  Nikkei Services PMI (Jun) on 5th July, 2022 •USD:  Factory Orders (MoM) (May) on 5st July, 2022

•USD:  Services PMI (Jun) on 6th July, 2022

NEWS UPDATES

  • Tata Steel on Monday said that it has completed the acquisition of 93.71 per cent in Neelachal Ispat Nigam Limited (NINL) through its listed step-down subsidiary, Tata Steel Long Products (TSLP). On January 31, TSLP was declared the winning bidder for the one million tonne (mt) NINL, an asset owned by central and state public sector undertakings, in a process run by the Department of Disinvestment & Public Asset Management (DIPAM), for a consideration of Rs 12,100 crore.

  • Since June 30, shares of Seshasayee Paper and Boards jumped 7 per cent, Andhra Paper gained 6.21 per cent, Tamil Nadu Newsprint & Papers climbed 4.62 per cent and Satia Industries advanced 4.62 per cent on the BSE. Among others, Star Paper Mills went higher by 4.14 per cent, Emami Paper Mills gained 3.92 per cent, West Coast Paper Mills (3.83 per cent), Orient Paper & Industries (3.10 per cent), JK Paper (2.93 per cent) and Astron Paper & Board Mill (2.64 per cent).

  • Tata Motors expects second half of the current fiscal to be better in terms of performance with gradual improvement in the overall supply situation and stabilisation in commodity prices, according to company chairman N Chandrasekaran. Addressing shareholders during the company’s 77th annual general meeting, Chandrasekaran noted that demand for the company’s vehicles across segments remained robust despite various external challenges.

  • Tata group firm Titan said the outlook for its jewellery division in FY23 and mid-term is “positive” with “excellent” growth opportunity helped by multi-pronged efforts within the wedding market, momentum behind its gold exchange scheme and network expansion.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ANUROOP General 05-Jul-22 SMEL A.G.M.;Preferential Issue of shares 05-Jul-22
ASHNI Increase in Authorised Capital;A.G.M. 05-Jul-22 SOWBHAGYA General 05-Jul-22
BENGALS Voluntary Delisting of Shares 05-Jul-22 ATHENAGLO Preferential Issue of shares 06-Jul-22
DJSSS General 05-Jul-22 BINDALAGRO Interim Dividend 06-Jul-22
NECCLTD Rights Issue 05-Jul-22 CAPRICORN General 06-Jul-22
PANORAMA General 05-Jul-22 CUB A.G.M.;General 06-Jul-22
POPULARES General 05-Jul-22 GKP General 06-Jul-22
PTC Audited Results;Quarterly Results 05-Jul-22 MANGIND General 06-Jul-22
RAMASTEEL Stock  Split 05-Jul-22 MASFIN General 06-Jul-22
RCIIND Audited Results 05-Jul-22 PADAMCO A.G.M.;General 06-Jul-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ELEMARB 05-Jul-22 Final Dividend – Rs. – 2.7500 GLAXO 07-Jul-22 Dividend – Rs. – 30.00
MINDTREE 05-Jul-22 Final Dividend – Rs. – 27.00 GRNLAMIND 07-Jul-22 Final Dividend – Rs. – 1.20
MPHASIS 05-Jul-22 Dividend – Rs. – 46.00 HITECHCORP 07-Jul-22 Dividend – Rs. – 1.00
WHEELS 05-Jul-22 Dividend – Rs. – 8.30 INDIANCARD 07-Jul-22 Interim Dividend – Rs. – 25.00
CENTURYTEX 06-Jul-22 Dividend – Rs. – 4.00 JMFINANCIL 07-Jul-22 Final Dividend – Rs. – 1.1500
PONNIERODE 06-Jul-22 Dividend – Rs. – 5.50 LTTS 07-Jul-22 Final Dividend – Rs. – 15.00
ASTRAZEN 07-Jul-22 Final Dividend – Rs. – 8.00 MAYURUNIQ 07-Jul-22 Final Dividend – Rs. – 2.00
AXISBANK 07-Jul-22 Final Dividend – Rs. – 1.00 MINDAIND 07-Jul-22 Bonus issue 1:1
BANKINDIA 07-Jul-22 Final Dividend – Rs. – 2.00 MINDAIND 07-Jul-22 Final Dividend – Rs. – 1.00
CROMPTON 07-Jul-22 Final Dividend – Rs. – 2.50 NAVINFLUOR 07-Jul-22 Final Dividend – Rs. – 6.00
DCMSHRIRAM 07-Jul-22 Dividend – Rs. – 4.90 NILKAMAL 07-Jul-22 Final Dividend – Rs. – 15.00
GLAXO 07-Jul-22 Special Dividend – Rs. – 60.00 OBEROIRLTY 07-Jul-22 Final Dividend – Rs. – 3.00

Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, suhail@elitewealth.in
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing research@elitestock.com with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail research@elitestock.com.
Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
2. Compensation
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL

FILING COMPLAINTS ON SCORES - EASY & QUICK

a. Register on SCORES portal

b. Mandatory details for filing complaints on SCORES:
i. Name, PAN, Address, Mobile Number, E-mail ID

c. Benefits:
i. Effective communication
ii. Speedy redressal of the grievances

SEBI : https://www.scores.gov.in/scores/complaintRegister.html