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 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.
|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.|
|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|
|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
|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
|•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
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|APTPACK||Audited Results||06-Jun-22||ROJL||Bonus issue;General||06-Jun-22|
|CINEVISTA||Audited Results;Quarterly Results||06-Jun-22||URJAGLOBA||Audited Results;General||06-Jun-22|
|GOODLUCK||Issue Of Warrants||06-Jun-22||WHITEORG||Right Issue of Equity Shares||06-Jun-22|
|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|
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)
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, firstname.lastname@example.org
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.
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.
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing email@example.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 firstname.lastname@example.org.
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
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:
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;
(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