Morning-Outlook-Feature-Image

Morning-outlook-8july

NIFTY:

Nifty opened at 16113.75 with a gap up of 124 points. The index initially moved lower but soon finds support and bounced up. The index came close to its opening tick. Prices have found resistance there and then again turned down for a brief period. These ups and down continued for almost the whole day in the NIFTY In this process, the index recorded first its intraday low at 16045.95 and then its intraday high at 16150.50.Prices have finally closed at 16132.90 with a gain of 143.10 points or 0.89% up. All the sectoral indices have ended in the green today except FMCG which ended with minor loss. METAL outperformed by ending 3.79% followed by REALTY which ended 2.62% up.

The short-term trend is up now as the index decisively broke above 16000 resistance. We should look for buying only on any dip or intraday consolidation breakout. Support should emerge around 16000 while the resistance is now visible around 16700. We should wait for an adequate pattern to emerge for a fresh Buying opportunity.

BANK NIFTY:

Bank Nifty opened at 34627.40 with a gap up of 272 points. The index initially consolidated and then broke out after recording its intraday low at 34553.10.Prices have seen a sharp rally and then a correction in the afternoon. That correction finds support quickly and then the index again turned up and rallied to record its intraday high at 34965.75. Prices have finally closed at 34935.45 wit h a gain of 580 points. PSU BANKS have significantly outperformed today by ending 3.42% higher. PVT BANKS have also moved up today and closed wit h a gain of 1.78%. Within the index, in terms of points, ICICI BANK contributed the highest on the upside followed by HDFC BANK.

The index broke its resistance around the 34500 – 34600 range today decisively. The short-term trend is now up which was sideways before. We should now look for buying only on any dip or consolidation breakout.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
GNFC 610 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 605 and for the target of  620.
RELIANCE 2388 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 2410 and target of 2340.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
SUNPHARMA 850 CE BUY 16.45 CMP 10 30 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
DABUR.22.07 Jul 541.5 0.01 0.62 9405000 GODREJCP.22.07 Jul 857.25 -2.61 9.65 8328000
ULTRACEMCO.22.07 Jul 5806.9 0.06 0.9 2014900 METROPOLIS.22.07 Jul 1428.95 -2.55 5 1095300
ABBOTINDIA.22.07 Jul 19265.6 0.08 0.64 44160 SRTRANSFIN.22.07 Jul 1233.9 -2.35 9.39 4171200
VOLTAS.22.07 Jul 973.45 0.09 2.55 4315500 LALPATHLAB.22.07 Jul 2149.75 -1.72 3.14 1132250
IOC.22.07 Jul 73 0.14 7.38 70092750 HAL.22.07 Jul 1726.15 -1.52 17.05 1689100
                                                                        Short Covering                                                                       Long Unwinding
IDEA.22.07 Jul 8.55 0 -0.5 5.74E+08 BAJFINANCE.22.07 Jul 5874.95 -0.76 -0.77 5785750
MCX.22.07 Jul 1315.45 0.09 -0.67 3080400 COROMANDEL.22.07 Jul 969.5 -0.5 -0.92 1432200
ADANIENT.22.07 Jul 2280.95 0.19 -0.05 22138000 BHARTIARTL.22.07 Jul 689.65 -0.42 -0.48 47222600
COFORGE.22.07 Jul 3625.05 0.22 -1.55 438150 ACC.22.07 Jul 2170.35 -0.39 -0.02 2653250
SBICARD.22.07 Jul 851.1 0.3 -0.39 5536000 HDFCAMC.22.07 Jul 1913 -0.22 -0.39 2863500

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Muthootfin 1046.95 -0.8 573482 0 77.28 Nifty50 16132.9 0.89 79803
Atul Ltd. 8200.85 1.82 27260 0 75.91 Niftybank 34920.3 1.74 79803
Kotak Mahindra Bank Limi 1738.5 1.99 3170065 0 73.03 Nifty it 28196.35 0.67 79803
Hdfc Bank Ltd. 1395.8 1.79 8871571 0 70.34 India Vix 19.2 -5.27 79803
Power Finance Corporatio 107.7 1.03 2860688 0 67.97 Nifty Fmcg 40708.7 -0.08 79800
Ipca Laboratories Ltd. 956.3 1.3 151827 0 67.66 Nifty Pharma 12389.7 0.47 79800
Syngene 573.3 4.91 323046 0 66.36 Nifty Realty 411.25 2.62 79803
Hindustan Unilever Ltd 2472.95 -1.02 3333262 0 65.32 Nifty Auto 12114.1 1.35 79803
Hcl Technologies Ltd. 989.85 0.33 2985141 0 65.29 Nifty Metal 4842.2 3.79 79803
Jk Cement Limited 2284.25 1.59 126931 0 65.02 Nifty Financial Services 16179 1.24 79800

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  FX Reserves, USD on 8th July, 2022 •USD:  Nonfarm Payrolls (Jun) on 8th July, 2022

•USD:  Unemployment Rate (Jun) on 8th July, 2022

NEWS UPDATES

  • Bharat Heavy Electricals Ltd (BHEL) on Thursday said it has successfully commissioned 100-MW floating Solar photovoltaic plant at NTPC Ramagundam in Telangana. The plant is installed across the natural raw water reservoir, saving valuable land resources, and also conserves water by reducing evaporation, a company statement said.

  • Ajmera Realty & Infra India Ltd on Thursday reported an over three-fold jump in its sales bookings to Rs 400 crore for the quarter ended June on better demand. Its sales bookings stood at Rs 111 crore in the year-ago period, the company said in a statement. The carpet area sold by the company stood at 1,57,438 square feet in April-June period of this fiscal as against 61,663 square feet in the year-ago period.

  • Tata Power on Thursday issued a clarification saying no officials of Tata Power are involved in the alleged bribery case involving Power Grid Corporation of India. Tata Power spokesperson in a tweet said, ““Tata Power clarifies that no officials of Tata Power are involved in the alleged bribery case involving Power Grid Corporation of India, being investigated by CBI. Some media reports have wrongly mentioned Tata Power’s name in the alleged case.”

  • TCS will kick start corporate earnings season this week, and if one were to go by what analysts say the IT major may not disappoint the Street, with a nearly 15 per cent jump in revenues and a 7-11 per cent year-on-year rise in June quarter profit. The demand commentary could be strong, they said, even as margin may take a hit on wage hikes.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ALFAVIO General;Stock  Split 08-Jul-22 SPECFOOD Quarterly Results 08-Jul-22
BRAHMINFRA Audited Results 08-Jul-22 SUKHJITS A.G.M.;General 08-Jul-22
DHANCOT General 08-Jul-22 SURYAINDIA A.G.M.;General 08-Jul-22
INDOUS A.G.M.;Preferential Issue of shares 08-Jul-22 TCPLPACK Employees Stock Option Plan 08-Jul-22
KANCHI A.G.M.;Dividend;General 08-Jul-22 TCS Interim Dividend;Quarterly Results 08-Jul-22
KHANDSE General 08-Jul-22 VISHWARAJ A.G.M.;General 08-Jul-22
KOHINOOR General;Quarterly Results 08-Jul-22 DMART Quarterly Results 09-Jul-22
MARKSANS Buy Back of Shares 08-Jul-22 GRADIENTE Quarterly Results 09-Jul-22
MMTC Audited Results 08-Jul-22 PRISMX General 09-Jul-22
MORARKFI Quarterly Results 08-Jul-22 RAILTEL Final Dividend 09-Jul-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
INGERRAND 08-Jul-22 Dividend – Rs. – 20.00 GMM 11-Jul-22 Bonus issue 2:1
JUBLFOOD 08-Jul-22 Final Dividend – Rs. – 1.20 KIRLPNU 11-Jul-22 Final Dividend – Rs. – 2.40
LUMAXIND 08-Jul-22 Final Dividend – Rs. – 13.50 PERSISTENT 11-Jul-22 Final Dividend – Rs. – 11.00
LUMAXTECH 08-Jul-22 Final Dividend – Rs. – 3.50 PIXTRANS 11-Jul-22 Final Dividend – Rs. – 6.00
MAHACORP 08-Jul-22 Right Issue of Equity Shares AINFRA 12-Jul-22 Bonus issue 1:1
ONWARDTEC 08-Jul-22 Final Dividend – Rs. – 3.00 AVADHSUGAR 12-Jul-22 Dividend – Rs. – 10.00
PRESSMN 08-Jul-22 Final Dividend – Rs. – 1.00 RECLTD 12-Jul-22 Final Dividend – Rs. – 4.80
SUNDARMFIN 08-Jul-22 Final Dividend – Rs. – 10.00 SESHAPAPER 12-Jul-22 Final Dividend – Rs. – 2.50
TITAN 08-Jul-22 Dividend – Rs. – 7.50 STEELXIND 12-Jul-22 Stock  Split From Rs.10/- to Rs.1/-
TORNTPHARM 08-Jul-22 Bonus issue 1:1 ABSLAMC 13-Jul-22 Final Dividend – Rs. – 5.8500
CONTROLPR 11-Jul-22 Dividend – Rs. – 5.00 ANG 13-Jul-22 Bonus issue 1:4
DRREDDY 11-Jul-22 Final Dividend – Rs. – 30.00 MAGADHSUGAR 13-Jul-22 Dividend – Rs. – 6.50

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