Morning-Outlook-Feature-Image

Morning-outlook-7june

 

NIFTY:

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:

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.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
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.

 

DERIVATIVE PICKS

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
Sectors Price Change % Quantity
Alkem 3113.8 0.77 87853 0 74.44 Nifty50 16569.55 -0.35 77049
Atul Ltd. 7928 -2.41 60245 0 71.95 Niftybank 35310.2 -0.85 77049
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

   Domestic                                                                                                                                                  International
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

 

NEWS UPDATES

•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

 

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ACROW General 07-Jun-22 JMDVL General 08-Jun-22
ALANKIT A.G.M.;Final Dividend;General 07-Jun-22 MAHESH General 08-Jun-22
BRFL Audited Results 07-Jun-22 NINSYS General 08-Jun-22
CINELINE Issue Of Warrants;Preferential Issue 07-Jun-22 PSITINFRA General 08-Jun-22
DEVIT Stock  Split 07-Jun-22 TAINWALCHM 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
INDINFO General 08-Jun-22 KABRADG General 09-Jun-22

 

CORPORATE ACTION

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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