Morning-Outlook-Feature-Image

Stock Market Outllok

 

NIFTY:

Nifty opened at 16761.65 with a big gap up of 133 points. The index initially consolidated for the first 15 minutes of trading and recorded its intraday high at 16793.85.Prices broke on the downside and started drifting downwards. An attempt to recover failed measurably and prices kept on drifting downwards. The gap was filled towards the end of today’s trading session. In the last hour of trading, prices moved down with more pace and recorded its intraday low at 16567.90.The index finally closed at 16584.30 near its day low wit h a loss of 43.70 points or 0.26% down. AUTO,METAL and MEDIA have led the bears today and ended with a loss of more than 1%. BANK and FINANCIAL followed by ending nearly 1% down.IT and OIL GAS outperformed today and ended with minor gains.

A gap-up opening did not sustain today. The short-term trend is now changing sideways which was up before as the index has been locked inside a narrow trading range. The volatility is now moderately high as the Benchmark Index INOIA VIX is moving around level 20.We should avoid trading the index for the time.

BANK NIFTY:

Bank Nifty opened at 35929.55 with a big gap up of 319 points. The index recorded its intraday high at 35958.45 within the first few minutes of trading and moved down. The gap filled quickly and prices have kept on drifting downwards to record its intraday low at 35175.10. Finally, the index closed at 35296.45 near its day low with a loss of 314 points. PSU and PVT BANKS indices have seen an intraday decline today and closed lower by 1.42% & 1.04% respectively. Within the index, in terms of points, AX IS BANK contributed the highest on the downside followed by the ICIC IBANK.

The index has seen a decline of more than 800 points today during the day. The short-term trend is now changing sideways as prices have been moving range bound for the past few trading days. We should avoid trading the index for the time being.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
ASIANPAINT 2886 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 2860 and for the target of  2940.
DLF 330.65 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 333 with a stop loss of 336 and target of 325.

 

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
HDFCBANK 1380 PE BUY 33 CMP 25 50 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI   Stocks Price Price% OI % OI
HAL.22.06 Jun 1901 0.01 0.38 1870550 RAMCOCEM.22.06 Jun 627.8 -8.86 14.25 3196850
ICICIPRULI.22.06 Jun 547 0.09 5.5 5941500 JKCEMENT.22.06 Jun 2150 -8.5 55.56 426300
ALKEM.22.06 Jun 3100.4 0.13 7.46 216000 DALBHARAT.22.06 Jun 1264.55 -8.17 30.13 1324750
SBILIFE.22.06 Jun 1148.95 0.17 4.15 7809000 GRASIM.22.06 Jun 1342.1 -6.68 14.32 12274950
RAIN.22.06 Jun 168 0.18 2.74 6180000 SHREECEM.22.06 Jun 20320 -5.8 21.92 322650
                                                                        Short Covering                                                                       Long Unwinding
POWERGRID.22.06 Jun 226.4 0.02 -0.35 53457992 IDEA.22.06 Jun 9.2 -4.17 -0.91 6.19E+08
IOC.22.06 Jun 118.2 0.08 -1 33572500 GMRINFRA.22.06 Jun 37.35 -3.36 -0.53 1.06E+08
GLENMARK.22.06 Jun 390.95 0.1 -0.92 6684950 OBEROIRLTY.22.06 Jun 761.4 -3.28 -0.18 5107200
HINDPETRO.22.06 Jun 233.8 0.34 -0.37 19715400 SUNTV.22.06 Jun 431.75 -2.75 -0.87 11925000
CUB.22.06 Jun 143.2 0.49 -1.1 11260800 MARUTI.22.06 Jun 7740.6 -2.67 -1.56 3310800

 

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Alkem 3100.45 0.34 96986 0 74.44 Nifty50 16584.3 -0.26 79230
Atul Ltd. 8015.2 -1.34 25458 0 71.95 Niftybank 35275.05 -0.95 79230
Power Finance Corporatio 111.6 -1.15 3323245 0 69.93 Nifty it 29903.8 0.37 79230
Tata Communications Ltd. 955.25 -1.39 2102715 0 69.43 India Vix 19.98 -1.7 79230
Havells India Limited 1156.15 -1.29 2326132 0 68.84 Nifty Fmcg 38273.9 -0.58 79227
Ntpc Limited 155 -2.55 14063328 0 65.52 Nifty Pharma 12418.8 -0.65 79230
Rec Limited 119.15 -1.41 3191458 0 63.29 Nifty Realty 406.85 -0.96 79230
Power Grid Corporation o 226 0.2 12061889 0 61.69 Nifty Auto 11282.15 -1.82 79230
Infosys Limited 1521.7 0.91 9395707 0 61.48 Nifty Metal 5328.8 -1.27 79230
Icici Lombard General In 1218.3 -1.42 603052 0 61.45 Nifty Financial Services 16330.4 -0.71 79230

 

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Bank Deposit and  Loan Growth on 6th June, 2022

INR: RBI MPC Meeting Minutes on 7th June, 2022

•USD:  Trade Balance (Apr) on 7th June, 2022

•USD:  API Weekly Crude Oil Stock on 8th June, 2022

 

NEWS UPDATES

•Tata Projects will build the national capital region’s new airport at Jewar, after outbidding the Shapoorji Pallonji Group and Larsen & Toubro for the contract. While the deal size has not been disclosed, sources pegged it at over Rs 6,000 crore.

•The government has directed state-owned CIL to be prepared to import 12 million tonnes (MT) of coal for power utilities for the next 13 months. The state gencos and independent power producers have sought time till Saturday afternoon to figure out the quantity of coal they require and the import orders would be placed by Coal India very soon. It would be the first time since 2015 that the maharatna firm imports the dry fuel.

•Steel prices in the domestic market have fallen by almost a tenth in the two weeks since the Centre levied export duty on the alloy, a trend underscored by the seasonal slowdown in demand. Prices of domestic benchmark hot-rolled coil (HRC) steel at the traders’ end have slipped by about 8% or 5,500 to about 63,800 per tonne since May 18, according to SteelMint, a market intelligence agency.

•Elgi Equipments, one of the world’s leading air compressor makers, will be among the top three manufacturers in the world by 2035, its Managing Director Jairam Varadaraj stated here on Friday. The company, which started operations in 1992, was not at all among the top 100 manufacturers and rose to sixth position now with 50 per cent of revenue from India and 43 per cent from the European Union and the United States regions, he said.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ALPHA Audited Results 06-Jun-22 MPL General 06-Jun-22
APTPACK Audited Results 06-Jun-22 ROJL Bonus issue;General 06-Jun-22
ARIHANTINS Audited Results 06-Jun-22 SBICARD General 06-Jun-22
CHADPAP Audited Results 06-Jun-22 TRISHAKT General 06-Jun-22
CINEVISTA Audited Results;Quarterly Results 06-Jun-22 URJAGLOBA Audited Results;General 06-Jun-22
GNA General 06-Jun-22 VIRTUALG Audited Results 06-Jun-22
GOODLUCK Issue Of Warrants 06-Jun-22 WHITEORG Right Issue of Equity Shares 06-Jun-22
HLEGLAS Stock  Split;General 06-Jun-22 ZDHJERK General 06-Jun-22
INDAGIV Audited Results;General 06-Jun-22 ACROW General 07-Jun-22
KRANTI General 06-Jun-22 ALANKIT A.G.M.;Final Dividend;General 07-Jun-22

 

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
 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
VBL 06-Jun-22 Bonus issue 1:2 CRAFTSMAN 09-Jun-22 Dividend – Rs. – 3.7500
ZSATYASL 06-Jun-22 Right Issue of Equity Shares ELECON 09-Jun-22 Final Dividend – Rs. – 1.0000
AARCOM 07-Jun-22 Amalgamation ELECON 09-Jun-22 Special Dividend – Rs. – 0.4000

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