Morning-Outlook-Feature-Image

NIFTY:

Nifty opened at 15909.15 with a gap up of 74 points. The index continued its bullish momentum and rallied further towards the resistance around the 16000 level. Prices then consolidated there for almost the whole afternoon and eventually broke on the downside after recording its intraday high at 16025.75.Prices then saw a sharp downside move. The index erases all the gains that came during the day including the gap and recorded its intraday low at 15785.45. Prices have finally closed at 15810.85 with a loss of just 24.50 points or 0.15% down. METAL, PHARMA, and OIL GAS outperformed today and closed with some gains. BANK, FINANCIAL, IT, and AUTO led the bears today and ended wit h a loss.

Level 15800 is somehow acting as a magnet that pulled the index toward this level. We should now wait for a clear sign of the next likely move. Both the momentums have aligned on the upside suggests higher levels are ahead. the short-term trend is sideways now. Avoid trading the index.

BANK NIFTY:

Bank Nifty opened at 34084.70 with a gap up of 120 points. The index moved further on the upside and stayed above 34000 till the afternoon. Prices then consolidated and eventually broke down after recording its intraday high at 34361.05. A sharp decline erases a 11 the gains that came during the day and prices have recorded its intraday low at 33757. The index finally closed at 33769.40 with a loss of 195 points. PVT BANKS have underperformed today and ended wit h a loss of nearly half percent. PSU BANKS have ended on a flat note today. Within the index, in terms of points, BANDHAN BANK contributed the highest on the upside while HDFC BANK contributed the lowest.

index where prices have moved higher in the first half while seeing a sharp down move in t he second half and ended lower. The short-term trend is sideways. We should avoid taking fresh trades.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
TATAMOTOR 412 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 408 and for the target of  420.
TATASTEEL 860 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 860 with a stop loss of 870 and target of 845.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
INFY 1460 PE BUY 34.10 CMP 25 50 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ESCORTS.May 26 1554.7 0.05 2.35 3523300 GNFC.May 26 617.95 -9.77 23.41 4893200
ABCAPITAL.May 26 99.8 0.05 4.98 21313600 INDUSTOWER.May 26 183.05 -9.45 12.28 16618000
PIDILITIND.May 26 2119.9 0.08 0.36 3142250 HONAUT.May 26 34019.85 -7.91 25.64 8820
TCS.May 26 3400.5 0.08 0.46 8318400 VEDL.May 26 292.85 -6.53 2.79 42084050
BOSCHLTD.May 26 13124.1 0.16 3.16 122600 SBIN.May 26 438.75 -4.59 5.97 59629500
                                                                        Short Covering                                                                       Long Unwinding
DALBHARAT.May 26 1405.5 0.1 -1.26 1255750 OFSS.May 26 3225.85 -8.01 -7.85 280250
BEL.May 26 219.05 0.14 -1.85 30795200 CHAMBLFERT.May 26 391.45 -4.98 -7.15 1830000
MARICO.May 26 500.6 0.16 -2.11 8138000 GSPL.May 26 249.4 -4.55 -3.65 2153900
DELTACORP.May 26 222.3 0.18 -0.79 14170300 ACC.May 26 2110.65 -3.2 -3.98 2336500
INDUSINDBK.May 26 871.35 0.2 -0.36 24825600 SBICARD.May 26 714.75 -2.9 -1.08 6863500

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Infosys Limited 1504.4 -0.29 6723761 4266241 68.46 Nifty50 15782.15 -0.16 39158509
Mah & Mah Ltd. 889.5 2.8 4956950 3342114 67.71 Niftybank 33121.35 -1.23 18569281
Hdfc Ltd. 2132.95 -0.81 4905109 3191909 66.8 Nifty it 29624.85 -0.44 1167667
Bharti Airtel Limited 689.9 -2.2 11938252 7792196 66.04 India Vix 23.48 -3.22 2.61E+08
Alkem 2905.75 -1.68 476396 237327 63.85 Nifty Fmcg 36887.15 1.84 589360
Larsen & Toubro Limited 1534.5 0.55 4328846 2235594 63.23 Nifty Pharma 12629.5 1.65 49279315
Sbi Life Insurance Compa 1044.95 -1.48 1108831 533492 62.73 Nifty Realty 384.45 -0.27 1.6E+09
Power Grid Corporation o 236.3 0.17 11305915 6195650 62.44 Nifty Auto 10412.35 2.44 59695902
Nestleind 16402.95 1.13 55439 29797 61.97 Nifty Metal 5313.05 -2.08 1.15E+08
Kotak Mahindra Bank Limi 1779.55 1.06 2737022 1671279 61.96 Nifty Financial Services 15291.7 -1.26 6509952

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  FX Reserves, USD on 8th July, 2022 •USD:  ISM Non-Manufacturing PMI (Jun) on 6th  July, 2022

•USD:  JOLTs Job Openings (May) on 6th July, 2022

NEWS UPDATES

  • Witnessing a robust demand for its electric scooter Chetak, Bajaj Auto plans to scale up the sales infrastructure for the model to 75 locations across the country in the current fiscal. The Pune-based firm had brought back its iconic Chetak scooter in electric avatar in October 2019. “Seeing the enthusiastic demand for this iconic model, the company has increased the touchpoints to 20 locations in FY 2022. This is expected to grow to 75 in FY 2023,” the company said in its Annual Report for 2021-22.
  • Britannia Industries’ shareholders have voted against a resolution to authorise the board to make investments, give loans and provide guarantees of up to Rs 5,000 crore in the AGM concluded last week. The special resolution for approval to increase limits for making investments, loans, Special guarantees and security was “not Passed with requisite majority,” said a regulatory filing from Britannia Industries on June 29, 2022.
  • Rising cost pressure brought on by volatile input prices, and withdrawal of pandemic-induced relief measures may further increase default rates especially among sub-investment-grade firms, or those with a rating of “BB” and below, according to CRISIL Ratings.
  • The rupee fell by 41 paise to close at a fresh lifetime low of 79.36 (provisional) against the US dollar on Tuesday amid a strong greenback overseas and unrelenting foreign fund outflows. At the interbank forex market, the local unit opened at 79.04 against the greenback and witnessed an intra-day high of 79.02 and a low of 79.38.

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

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ATHENAGLO Preferential Issue of shares 06-Jul-22 RAJGASES Issue Of Warrants 06-Jul-22
BINDALAGRO Interim Dividend 06-Jul-22 SETCO General;Audited Results 06-Jul-22
CAPRICORN General 06-Jul-22 SKCIL General;A.G.M. 06-Jul-22
CUB General;A.G.M. 06-Jul-22 SMLT General;A.G.M. 06-Jul-22
GKP General 06-Jul-22 SUPER A.G.M. 06-Jul-22
MANGIND General 06-Jul-22 APTPACK Audited Results 07-Jul-22
MASFIN General 06-Jul-22 CRSTCHM General 07-Jul-22
PADAMCO General;A.G.M. 06-Jul-22 FCSSOFT General 07-Jul-22
PBAINFRA Voluntary Delisting of Shares 06-Jul-22 GGAUTO Quarterly Results 07-Jul-22
POWERGRID General 06-Jul-22 GMBREW Quarterly Results 07-Jul-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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
GLAXO 07-Jul-22 Dividend – Rs. – 30.00 ROSSARI 07-Jul-22 Final Dividend – Rs. – 0.50
GRNLAMIND 07-Jul-22 Final Dividend – Rs. – 1.20 SOLIMAC 07-Jul-22 Final Dividend – Rs. – 1.20
HITECHCORP 07-Jul-22 Dividend – Rs. – 1.00 STARHFL 07-Jul-22 Final Dividend – Rs. – 0.20
INDIANCARD 07-Jul-22 Interim Dividend – Rs. – 25.00 SUNDARMFIN 07-Jul-22 Final Dividend – Rs. – 10.00

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

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