Nifty opened at 16530.70 with a gap down of 54 points. The index initially went up but failed to sustain and resume its bearishness to record its intraday low at 16444.55.Prices have found strong support there, bounced up and then started a process of consolidation. The sideways movement eventually broke on the upside. The index rallied more than 100 points in the afternoon and recorded its intraday high at 16610.95. Prices have finally closed at 16569.55 wit h a loss of just 14.75 points or 0.09% down. METAL outperformed today and ended with a gain of more than 1% while MEDIA underperformed today and ended wit h a loss of more than 1%.FMCG, PHARMA, BANK, and Financial have ended on a flat note. The RBIMPC meeting is scheduled for this week. This has led prices to a trading range as participants are cautious over the outcome. On a broader view, we are expecting this market to consolidated Strong support is visible inside the 16350 – 16400 zones while strong resistance is visible inside the 16900 – 1700 zones. We should avoid trading the index for the time being.
Bank Nifty opened at 35159.15 with a gap down of 137 points. The index first moved up, filled the gap quickly, and then turned down. Prices have recorded its intraday low at 35072.30 and then moved up. A mild upside rally brought prices to its intraday high at 35424.50 and the index started consolidating there. Prices have finally closed at 35314.05 wit h a gain of just 18 points. PVT BANKS have outperformed today and ended wit ha gain of 0.21%. PSU BANKS have underperformed today and ended wit h a loss of 0.31%. Within the index, in terms of points, KOTAK BANK contributed the highest on the upside while AXIS BANK contributed the lowest.
This narrow range should resolve very soon one way or the other. We need to wait for prices to close beyond this range and then we will plan our trade accordingly. We should avoid trading the index for the time being.
|HINDALCO||409||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 404 and for the target of 420.|
|SUNPHARMA||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 840.|
|Stock Name||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|INFY||1540 CE||BUY||36.75||CMP||28||50||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|TECHM.22.06 Jun||1151.1||0.1||0.93||19621200||JKCEMENT.22.06 Jun||2097.2||-10.74||49.04||408450|
|HINDALCO.22.06 Jun||412||0.17||4.27||39471850||RAMCOCEM.22.06 Jun||627.05||-8.97||10.21||3083800|
|NATIONALUM.22 Jun||93||0.22||0.61||51488750||SHREECEM.22.06 Jun||19798||-8.22||26.74||335425|
|UPL.22.06 Jun||778.6||0.35||1.71||19046300||GRASIM.22.06 Jun||1333.5||-7.27||18.08||12678225|
|ALKEM.22.06 Jun||3109.75||0.43||6.67||214400||ULTRACEMCO.22.06 Jun||5605||-7.04||20.22||2837000|
|Short Covering||Long Unwinding|
|HCLTECH.22.06 Jun||1042.2||0.02||-0.49||21509600||DIXON.22.06 Jun||3643.7||-7.02||-1.76||691875|
|ZYDUSLIFE.22.06 Jun||367||0.08||-0.55||10934000||SUNTV.22.06 Jun||425.05||-4.26||-0.69||11947500|
|WIPRO.22.06 Jun||476||0.09||-1.16||29160800||JUBLFOOD.22.06 Jun||532.85||-3.89||-3.6||10658125|
|LTI.22.06 Jun||4330.35||0.21||-1.38||1443300||GMRINFRA.22.06 Jun||37.2||-3.75||-0.08||1.06E+08|
|VEDL.22.06 Jun||322.9||0.26||-0.62||50528450||PIDILITIND.22.06 Jun||2162.15||-3.72||-2.32||3162250|
Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Power Finance Corporatio||110.2||-2.39||2878791||0||69.93||Nifty it||29819.8||0.09||77049|
|Tata Communications Ltd.||942||-2.76||329384||0||69.43||Nifty Fmcg||38238.45||-0.67||77052|
|Havells India Limited||1149.15||-1.88||332039||0||68.84||Nifty Pharma||12412.4||-0.7||77052|
|Ntpc Limited||155.2||-2.42||18485464||0||65.52||Nifty Realty||403.5||-1.78||77052|
|Rec Limited||115.55||-4.39||6632934||0||63.29||Nifty Auto||11303.15||-1.64||77052|
|Power Grid Corporation o||224.8||-0.33||9519970||0||61.69||Nifty Metal||5388.65||-0.16||77049|
|Infosys Limited||1530.05||1.46||6624883||0||61.48||Nifty Financial Services||16324.6||-0.75||77052|
|Icici Lombard General In||1200.85||-2.84||750844||0||61.45||Nifty Cpse||2616.1||-0.7||77049|
UPCOMING ECONOMIC DATA
|INR: RBI MPC Meeting Minutes on 7th June, 2022
INR: RBI Interest Rate Decision on 8th June, 2022
|•USD: Trade Balance (Apr) on 7th June, 2022
•USD: API Weekly Crude Oil Stock on 8th June, 2022
|•Steel ministry will convene a meeting of shareholders and creditors of state-owned NMDC on Tuesday to expedite the process of demerging the company’s under construction Nagarnar Steel Plant (NSP). The Centre is aiming to complete the demerger of NSP from MMDC within the next four to five months, according to an official document. NMDC is setting up a 3 million tonne per annum (mtpa) steel plant at Nagarnar, near Bastar in Chhattisgarh.
•Measures to tighten liquidity are expected to accompany a rise in Indian interest rates on Wednesday, adding upward pressure to bond yields and increasing the need for central bank measures to support government borrowing. The rise in interest rates is not in doubt, because the governor of the Reserve Bank of India (RBI) said on May 23 that the decision would be a “no brainer”.
•To make life easier for customers, Indian Railways has decided to increase the maximum number of tickets that may be booked in a month from 6 to 12 using a user ID that is not linked to Aadhaar. Increasing the number of tickets booked in a month from 12 to 24 by a user ID that is linked to Aadhaar and that one of the passengers in the ticket to be booked is verifiable through Aadhaar.
•Tata Motors has entered into an agreement with blusmart electric mobility for the delivery of 10,000 XPRES T electric vehicles. This is the biggest order in India by far for delivering EV fleet. With deliveries starting soon, these vehicles will be added to the 3,500 XPRES-T EV order that was signed by both companies in October of last year.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|CINELINE||Issue Of Warrants;Preferential Issue||07-Jun-22||PSITINFRA||General||08-Jun-22|
|GENESYS||Audited Results||07-Jun-22||UNITECH||Audited Results;Quarterly Results||08-Jun-22|
|MACH||Audited Results;Half Yearly Results||07-Jun-22||ZHINUDYP||General;Voluntary Delisting of Shares||08-Jun-22|
|POLOHOT||Audited Results||07-Jun-22||AGARIND||Preferential Issue of shares||09-Jun-22|
|SOUTHBANK||General||07-Jun-22||DHYAANI||Audited Results;Half Yearly Results||09-Jun-22|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|AARCOM||07-Jun-22||Amalgamation||ELECON||09-Jun-22||Special Dividend – Rs. – 0.4000|
|GICRE||07-Jun-22||Interim Dividend – Rs. – 2.2500||HDFCAMC||09-Jun-22||Dividend – Rs. – 42.0000|
|PGIL||07-Jun-22||Interim Dividend – Rs. – 5.0000||IMPAL||09-Jun-22||Interim Dividend – Rs. – 13.0000|
|GGENG||08-Jun-22||Stock Split From Rs.2/- to Rs.1/-||MUKANDENGG||09-Jun-22||Amalgamation|
|JAGSNPHARM||08-Jun-22||E.G.M.||PFC||09-Jun-22||Final Dividend – Rs. – 1.2500|
|KANSAINER||08-Jun-22||Final Dividend – Rs. – 1.0000||QUESS||09-Jun-22||Interim Dividend – Rs. – 4.0000|
|ASIANPAINT||09-Jun-22||Final Dividend – Rs. – 15.5000||SILVERTUC||09-Jun-22||Interim Dividend – Rs. – 0.5000|
|ASIANTILES||09-Jun-22||Final Dividend – Rs. – 0.7000||SMCGLOBAL*||09-Jun-22||Final Dividend – Rs. – 1.2000|
|AUBANK||09-Jun-22||Bonus issue 1:1||TATACONSUM||09-Jun-22||Final Dividend – Rs. – 6.0500|
|CRAFTSMAN||09-Jun-22||Dividend – Rs. – 3.7500||TRANSCOR||09-Jun-22||Dividend – Rs. – 0.1000|
|ELECON||09-Jun-22||Final Dividend – Rs. – 1.0000||VOLTAS||09-Jun-22||Final Dividend – Rs. – 5.5000|
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