NIFTY:
Nifty opened at 15818.20 without much of a gap. Prices initially moved up but soon faces resistance and then turned down. The decline quickly finds support and bounced up. The index recorded its intraday low at 15800.90 and then started moving higher. The rally continued till afternoon with minor dips in between. A sharp dip came around 01:00 PM for about one and half hours. The index again finds support and resumes its up move to record its intraday high at 16011.35. Prices have finally closed at 15989.80 with a gain of 178.95 points or 1.13% up. All the sectoral indices have ended in the green today except OIL GAS which ended with minor loss. REALTY,FMCG and AUTO led the bulls today and ended with a gain of more than 2%.
Today prices have ended almost around 16000. Tomorrow is the weekly expiry so we may see some volatility. If the index crosses above 16000 tomorrow then we should wait for a confirmation. A narrow trading range on the daily timeframe chart in the NIFTY Index indicates a sharp move is about to come. However, the direction is not very clear yet. We should wait for one or two days and then we will plan our trade accordingly.
BANK NIFTY:
Bank Nifty opened at 33929.40 with a gap up of 160 points. The index finds support quickly and again bounced up. The rally continued for almost the whole day and in this process, the index recorded its intraday low at 33876.15 and intraday high at 34388.50.The index finally closed at 34355.55 with a gain of 586 points. PVT and PSU BANKS both indices have seen sharp intraday rallies today and closed higher by 1.42% & 1.06% respectively. Within the index, in terms of
points, HDFC BANK contributed the highest on the upside followed by KOTAK BANK.
The index is now reaching near its resistance around the 34500 – 34600 range. The short term trend is still sideways. It will be up on a close above 34600.
TECHNICAL PICKS
COMPANY NAME | CMP | B/S | RATIONALE+ |
ADANIENT | 2272 | 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 2255 and for the target of 2320. |
DR REDDY | 4390 | 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 4385 with a stop loss of 4430 and target of 4300. |
DERIVATIVE PICKS
Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
DEEPAKNTR | 1750 CE | BUY | 70.90 | CMP | 55 | 100 | OI Increase |
Long Buildup | Short Buildup | |||||||||
Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
PFC.22.07 Jul | 107.3 | 0 | 2.92 | 31062000 | ONGC.22.07 Jul | 121.4 | -4.18 | 10.28 | 86902200 | |
SYNGENE.22.07 Jul | 550.65 | 0 | 2.75 | 935000 | BALRAMCHIN.22.07 Jul | 349.8 | -3.48 | 10 | 6705600 | |
LT.22.07 Jul | 1544.3 | 0.02 | 8.48 | 10452600 | NMDC.22.07 Jul | 107.1 | -1.43 | 5.87 | 56079000 | |
RAIN.22.07 Jul | 152.8 | 0.03 | 1.44 | 7385000 | IOC.22.07 Jul | 72.95 | -0.95 | 12.04 | 65705250 | |
PVR.22.07 Jul | 1884.5 | 0.04 | 3.07 | 2023604 | COALINDIA.22.07 Jul | 181 | -0.9 | 6.33 | 32827200 | |
Short Covering | Long Unwinding | |||||||||
TATAPOWER.22.07 Jul | 214.5 | 0.52 | -0.2 | 80200125 | NTPC.22.07 Jul | 139.15 | -1.52 | -0.2 | 69682500 | |
FEDERALBNK.22.07 Jul | 93.7 | 0.7 | -1.16 | 70070000 | POWERGRID.22.07 Jul | 211.85 | -1.12 | -0.54 | 55269000 | |
MANAPPURAM.22.Jul | 90.65 | 0.83 | -0.86 | 29064000 | ||||||
EXIDEIND.22.07 Jul | 142.1 | 0.85 | -1.6 | 18399600 | ||||||
MCX.22.07 Jul | 1319.8 | 0.89 | -1.1 | 3132400 |
Top Delivery Percentage
Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
Sectors | Price | Change % | Quantity | |||||||
Ipca Laboratories Ltd. | 944.05 | 1.72 | 378393 | 0 | 75.46 | Nifty50 | 15989.8 | 1.13 | 77082 | |
Oracle Fin Serv Soft Ltd | 3095 | 1.43 | 46283 | 0 | 69.88 | Niftybank | 34324.25 | 1.5 | 77082 | |
Gujarat State Petronet l | 227.2 | 0.33 | 1123636 | 0 | 69.68 | Nifty it | 28007.6 | 1.13 | 77082 | |
Ambuja Cements Ltd | 368.25 | 0.44 | 2209031 | 0 | 69.41 | India Vix | 20.27 | -2.5 | 77082 | |
Infosys Limited | 1491.65 | 1.06 | 5209162 | 0 | 69.18 | Nifty Fmcg | 40740.15 | 2.64 | 77082 | |
Honeywell Auto India Ltd | 34787.95 | 5.47 | 8072 | 0 | 68.48 | Nifty Pharma | 12331.15 | 0.8 | 77082 | |
Ultratech Cement Limited | 5828.05 | 1.71 | 371948 | 0 | 67.03 | Nifty Realty | 400.75 | 2.27 | 77082 | |
Icici Bank Ltd. | 725.95 | 0.9 | 12163533 | 0 | 67.01 | Nifty Auto | 11952.2 | 2.6 | 77079 | |
Kotak Mahindra Bank Limi | 1704.5 | 2.49 | 5572949 | 0 | 66.56 | Nifty Metal | 4665.3 | 0.03 | 77079 | |
Hindustan Unilever Ltd | 2498.4 | 4.03 | 4770394 | 0 | 65.58 | Nifty Financial Services | 15980.25 | 1.6 | 77088 |
UPCOMING ECONOMIC DATA
Domestic International | |
INR: FX Reserves, USD on 8th July, 2022 | •USD: Initial Jobless Claims on 7st July, 2022
•USD: Crude Oil Inventories on 7th July, 2022 |
NEWS UPDATES
-
Realty firm Macrotech Developers on Wednesday reported a nearly three-fold jump annually in its sales bookings at Rs 2,814 crore in the April-June quarter of this fiscal on strong demand for its residential properties. Macrotech Developers sells its properties under Lodha brand. It has a major presence in Mumbai Metropolitan Region (MMR) and Pune market. The company has recently forayed into Bengaluru.
-
Reliance Retail Limited has entered a long-term partnership with Gap Inc. to bring iconic American fashion brand Gap to India. Through the long-term franchise agreement, Reliance Retail has become the official retailer for Gap across all channels in India. Reliance Retail will introduce Gap’s latest fashion offerings to Indian consumers through a mix of exclusive brand stores, multi-brand store expressions and digital commerce platforms.
-
State-owned Punjab National Bank (PNB) has put up for sale the account of loss-making Burnpur Cement of West Bengal and has invited bids from Asset Reconstruction Companies (ARCs) to recover loan outstanding of over Rs 50 crore. Placing the Non-Performing Account (NPA) on sale, PNB said the company owes Rs 50.18 crore as loan. The lender has put the reserve price for the sale of the account to ARCs/permitted transferees at Rs 20 crore.
-
The board of state-owned Power Grid Corporation of India Ltd (PGCIL) on Wednesday approved two proposals to raise up to Rs 11,000 crore through the issuance of bonds and term loans. The proposals to raise Rs 11,000 crore have been approved in a meeting of the board of directors on Wednesday, July 6, 2022, a BSE filing 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 |
APTPACK | Audited Results | 07-Jul-22 | PASARI | General | 07-Jul-22 |
CRSTCHM | General | 07-Jul-22 | ROSEMER | General | 07-Jul-22 |
FCSSOFT | General | 07-Jul-22 | SANDUPHQ | General | 07-Jul-22 |
GGAUTO | Quarterly Results | 07-Jul-22 | SKC | Audited Results | 07-Jul-22 |
GMBREW | Quarterly Results | 07-Jul-22 | STRLGUA | General | 07-Jul-22 |
GUJINV | General | 07-Jul-22 | TARMAT | General | 07-Jul-22 |
IFL | General | 07-Jul-22 | VAKRANGEE | Quarterly Results | 07-Jul-22 |
INFRATRUST | General | 07-Jul-22 | VISCO | General | 07-Jul-22 |
MCLOUD | A.G.M. | 07-Jul-22 | VKAL | General | 07-Jul-22 |
MYSPAPE | Quarterly Results | 07-Jul-22 | ALFAVIO | General;Stock Split | 08-Jul-22 |
CORPORATE ACTION
Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
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 | Final Dividend – Rs. – 1.00 |
BANKINDIA | 07-Jul-22 | Final Dividend – Rs. – 2.00 | MINDAIND | 07-Jul-22 | Bonus issue 1:1 |
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 | VISHNU | 07-Jul-22 | Final Dividend – Rs. – 2.00 |
JMFINANCIL | 07-Jul-22 | Final Dividend – Rs. – 1.1500 | ZFCVINDIA | 07-Jul-22 | Dividend – Rs. – 12.00 |
LTTS | 07-Jul-22 | Final Dividend – Rs. – 15.00 | INGERRAND | 08-Jul-22 | Dividend – Rs. – 20.00 |
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