Morning-Outlook-Feature-Image

Morning-outlook-8june

NIFTY:

Nifty opened at 16469.60 with a gap down of 100 points. The index continued moving lower wit h minor rallies in between which fizzled out quickly and prices have recorded its intraday low at 16347.10.Prices have recorded its intraday high at 16487.25 a few ticks above the opening price. The index has seen a minor rally in t he afternoon and then went into consolidation.The consolidation lasted till the market closing and prices finally settled at 16416.35 almost in the middle of today’s trading range with a loss of 153.20 points or 0.92% down. OIL GAS and AUTO outperformed today and ended wit h some gains. The rest of the sectoral indices have closed wit h loss led by REALTY,FMCG, and IT sector and followed by the BANK, FINANC IAL, and PHARMA.

short-term trend is now sideways which was up before. It will be up again if the index closes above 16700 and it will be down if the index closes below 16350. It is also a strong support level for the NIFTY.

BANK NIFTY:

Bank Nifty opened at 35080.80 with a big gap down of 234 points. The index moved further on the downside and then bounced up. The rally fizzled out quickly and prices have resumed its down move after recording the intraday high at 35154.30. The index recorded its intraday low at 34834.40 and then saw some recovery in the last 30 minutes of trading to finally close at 34972.05 with a loss of 342 points. PVT BANKS have underperformed today and ended wit h a loss of nearly 1%. PSU BANKS have also moved down today and ended wit h a loss of 0.30%. Within the index, in terms of points, SBIN contributed the highest on the upside while ICIC IBANK contributed the lowest.

The short-term trend is now sideways as prices have seen a minor dip after a consolidation. Strong support should emerge around 34500 as it was also a breakout point from a range. Tomorrow is the RBI Policy Meet Outcome scheduled so we may see higher volatility. We will plan our trade accordingly till then we should avoid trading the index for the time being.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
TVS MOTOR 744 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 735 and for the target of  760.
TITAN 2100 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 2100 with a stop loss of 2120 and target of 2050.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
TATA POWER 235 CE BUY 9.25 CMP 6 15 OI Increase 

 

 

Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BPCL.22.06 Jun 321 0.06 2.28 17073000 GUJGASLTD.22.06 Jun 523.25 -5.09 21.16 2368750
BANDHANBNK.22Jun 327.05 0.06 1.27 36864000 TITAN.22.06 Jun 2108.05 -4.56 6.24 6564750
ABCAPITAL.22.06 Jun 103.5 0.1 1.35 18840800 ZEEL.22.06 Jun 238.8 -4.52 0.46 72723000
TORNTPHARM.22Jun 2797.65 0.15 1.18 860750 MRF.22.06 Jun 71209.5 -4.52 3.11 106500
POWERGRID.22.06 Jun 226.1 0.22 2 54177947 LICHSGFIN.22.06 Jun 358.3 -4.43 1.31 18388000
                                                                        Short Covering                                                                       Long Unwinding
RECLTD.22.06 Jun 116.5 0.39 -0.31 27204000 ASTRAL.22.06 Jun 1665.5 -2.84 -0.03 815925
BHARATFORG.22Jun 654.8 0.53 -0.69 6796500 HINDCOPPER.22.06 Jun 104.1 -2.53 -1.95 11670200
LUPIN.22.06 Jun 611.6 0.55 -1.77 8743950 COFORGE.22.06 Jun 3544.9 -2.22 -0.67 611200
INDHOTEL.22.06 Jun 231.55 1.25 -0.72 20548398 UBL.22.06 Jun 1495 -2.11 -2.99 1033550
HONAUT.22.06 Jun 32601.35 4.69 -5.05 12960 BERGEPAINT.22.06 Jun 580 -1.93 -0.16 5464800

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Alkem 3140.95 0.87 68916 0 72.79 Nifty50 16416.35 -0.92 75888
Ambuja Cements Ltd 363.35 -0.42 5707841 0 71.76 Niftybank 34996 -0.89 75888
Icici Lombard General In 1151.55 -4.11 1117981 0 71.48 Nifty it 29351.7 -1.57 75888
Power Grid Corporation 225 0.09 6827389 0 71.35 India Vix 20.43 1.11 75888
Sbi Life Insurance Compa 1134.3 -0.67 848821 0 71.14 Nifty Fmcg 37648.85 -1.54 75888
Bharti Airtel Limited 685.3 0.34 8349903 0 70.24 Nifty Pharma 12279.65 -1.07 75888
Coalindia 197.55 1.39 12960471 0 68.36 Nifty Realty 396.75 -1.67 75888
Kotak Mahindra Bank Limi 1858.15 -0.6 1711636 0 66.99 Nifty Auto 11362.2 0.52 75888
Atul Ltd. 7948.95 0.26 40390 0 66.17 Nifty Metal 5340.85 -0.89 75888
Hdfc Ltd. 2259.5 -0.64 2112184 0 62.56 Nifty Financial Services 16152 -1.06 75888

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: RBI Interest Rate Decision on 8th June, 2022 •USD:   API Weekly Crude Oil Stock on 8th June, 2022

•USD:   Crude Oil Inventories on 8th June, 2022

NEWS UPDATES

  • Reliance Jio has expanded the reach of its 4G services in Ladakh region to a village close to Pangong lake, an area which has been a friction point between India and China in recent years. Officials said Reliance Jio launched its 4G voice and data services at Spangmik village near Pangong lake in Ladakh. The telecom operator became the first network to provide 4G mobile connectivity in and around the Pangong area, a popular tourist destination, officials said.

  • SoftBank Group-backed Ola Electric is in talks with multiple global suppliers to build a battery cell manufacturing plant in India with a capacity of up to 50-gigawatt hours, sources said. As part of its broader electrification push, the firm plans to invest in companies with advanced cell and battery technology, alongside the 50 Gwh battery plant.

  • The government plans to monetise assets worth Rs 75,220 crore in the coal mining sector in the current financial year. The monetisation of coal blocks is likely to generate a revenue of Rs 52,200 crore, followed by Rs 20,320 crore from projects on Mine Developer and Operator (MDO) model, Rs 2,000 crore from discontinued mines and Rs 700 crore from washeries, the coal ministry said in its monetisation plan for the 2022-23.

  • Commonly used drugs for cough, cold, pain and skin irritation such as paracetamol, nasal decongestants and antifungals may soon be available without prescription as the Centre plans to list them under the over-the-counter (OTC) category.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
INDINFO General 08-Jun-22 VANICOM A.G.M.;Preferential Issue of shares 08-Jun-22
JMDVL General 08-Jun-22 ZHINUDYP Voluntary Delisting of Shares;General 08-Jun-22
KUSHAL Quarterly Results 08-Jun-22 AGARIND Preferential Issue of shares 09-Jun-22
MAHESH General 08-Jun-22 DHYAANI Half Yearly Results;Audited Results 09-Jun-22
NINSYS General 08-Jun-22 KABRADG General 09-Jun-22
PSITINFRA General 08-Jun-22 MISHTANN General 09-Jun-22
TAINWALCHM General 08-Jun-22 ONTIC General 09-Jun-22
TRANSFIN General 08-Jun-22 RUNGTAIR Right Issue of Equity Shares;General 09-Jun-22
UJJIVANSFB General 08-Jun-22 UNISTRMU General 09-Jun-22
UNITECH Audited Results;Quarterly Results 08-Jun-22 APIS Dividend on Preference Shares;A Results 10-Jun-22

 

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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
ELECON 09-Jun-22 Special Dividend – Rs. – 0.4000 WELCORP 09-Jun-22 Dividend – Rs. – 5.0000
HDFCAMC 09-Jun-22 Dividend – Rs. – 42.0000 CEATLTD 10-Jun-22 Final Dividend – Rs. – 3.0000
IMPAL 09-Jun-22 Interim Dividend – Rs. – 13.0000 LKPFIN 10-Jun-22 Final Dividend – Rs. – 3.0000

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