Morning-Outlook-Feature-Image

Morning-outlook-9june

NIFTY:

Nifty opened at 16474.95 with a gap up of 58 points. The index initially moved lower, filled the gap, and then fall further to record its intraday low at 16293.35.Prices then bounced up very sharply for almost an hour and recovered all the losses that came during the day. The index faces resistance at the higher level and recorded its intraday high at 16514.30. In the afternoon, the index consolidated and eventually broke down and came close to its early morning lows. Prices have finally closed at 16356.25 with a loss of 60.30 points or 0.37% down. REALTY outperformed today and ended with a gain of nearly 2%. OIL GAS underperformed today and ended wit h a loss of nearly 1%. Financial ended on a flat note. The short-term trend is sideways. We have mentioned a strong support zone inside 16350 – 16400 zones. Today prices have ended within this support range. A close below 16350 would change the short-term trend to sideways. It is also possible that the index may finds support here and bounced up. Short-term resistance is visible around 16700 while a strong resistance should emerge around 16900 – 17000 zone.

BANK NIFTY:

Bank Nifty opened at 35165.65 with a gap up of 193 points. The index first moved on the downside, filled the gap, and then bounce up sharply. Prices have recorded its intraday high at 35449.90 and then went into a process of consolidation. The consolidation eventually broke on the downside and prices have moved down to record its intraday low at 34831.75. The index finally closed at 34888.75 wit h a loss of 84 points. PVT BANKS have underperformed today and ended wit h a loss of 0.43%.PSU BANKS have outperformed today and ended wit ha gain of 0.71%. 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 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.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
AUROPHRAMA 522 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 515 and for the target of  532.
GNFC 625 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 625 with a stop loss of 630 and target of 610.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
RELIANCE 2700 PE BUY 59 CMP 45 90 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
AUROPHARMA.22 Jun 525.1 0.04 0.24 15505500 GUJGASLTD.22.06 Jun 482.4 -12.5 132.29 4541250
CANBK.22.06 Jun 204.9 0.07 1.54 47873700 GNFC.22.06 Jun 625.75 -6.83 11.5 2987400
FEDERALBNK.22.06 Jun 91.3 0.11 0.49 61910000 POLYCAB.22.06 Jun 2292 -6.8 40.42 786900
STAR.22.06 Jun 328 0.18 0.88 3704400 ICICIGI.22.06 Jun 1126.55 -6.65 38.18 3579350
GRASIM.22.06 Jun 1335.4 0.2 8.2 13645800 UPL.22.06 Jun 732.5 -5.9 5.67 19914700
                                                                        Short Covering                                                                       Long Unwinding
IPCALAB.22.06 Jun 868.3 0.23 -7.13 937350 LICHSGFIN.22.06 Jun 347.6 -7.28 -0.02 18146000
APLLTD.22.06 Jun 734.85 0.27 -0.35 1194200 ZEEL.22.06 Jun 238.65 -4.58 -0.08 72330000
ESCORTS.22.06 Jun 1601.45 0.34 -0.07 2390300 UBL.22.06 Jun 1480.1 -3.08 -1.84 1045800
PFC.22.06 Jun 110 0.5 -1.48 33517200 JUBLFOOD.22.06 Jun 517.45 -2.99 -0.06 10372500
TATASTEEL.22.06 Jun 1036.75 0.65 -0.52 27677275 PIIND.22.06 Jun 2612.15 -2.97 -2.01 1771250

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Alkem 3158.9 1.45 78919 0 72.79 Nifty50 16356.25 -1.29 77316
Ambuja Cements Ltd 363.05 -0.51 5020929 0 71.76 Niftybank 34946.15 -1.03 77316
Icici Lombard General In 1107.7 -7.76 4260384 0 71.48 Nifty it 29472.15 -1.17 77316
Power Grid Corporation o 224.55 -0.11 8430098 0 71.35 India Vix 19.84 -1.79 77316
Sbi Life Insurance Compa 1136.05 -0.52 1387431 0 71.14 Nifty Fmcg 37254.35 -2.57 77313
Bharti Airtel Limited 663.3 -2.88 13904149 0 70.24 Nifty Pharma 12317.8 -0.76 77313
Coalindia 197.65 1.44 13059792 0 68.36 Nifty Realty 404.25 0.19 77313
Kotak Mahindra Bank Limi 1845.5 -1.27 1465616 0 66.99 Nifty Auto 11382.35 0.7 77316
Atul Ltd. 8070.6 1.8 23453 0 66.17 Nifty Metal 5348.2 -0.75 77316
Hdfc Ltd. 2258.65 -0.68 1780048 0 62.56 Nifty Financial Services 16146.8 -1.09 77316

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: FX Reserves, USD on 10th June, 2022 •USD:   Initial Jobless Claims on 9th June, 2022

•USD:   Core CPI (MoM) (May) on 10th June, 2022

NEWS UPDATES

  • The real estate sector, which is highly dependent on bank financing for both builders and customers, is worried that rising rates will impact post-pandemic recovery and slow down sales. Anuj Puri, chairman of real estate advisory firm Anarock, said the hike was anticipated with inflation edging higher in the aftermath of the Russia-Ukraine war and surging oil prices. “A hike was inevitable, but we are now entering the red zone. Any future hikes will reflect markedly on housing sales,” he warned.

  • The RBI has endeavoured to strike the right balance between inflation and growth at this critical juncture, industry experts on Wednesday said after a 50 basis points hike in the key rate by the central bank. Announcing the credit policy, Reserve Bank Governor Shaktikanta Das said that the Indian economy is resilient,though negative global spillovers continue to weigh on the domestic economic growth outlook.

  • The Cabinet has increased Minimum Support Price (MSP) for the Kharif Marketing Season 2022-23 on June 8. The approved prices are in accordance with the principle of keeping the MSPs at a level of at least 1.5 times of the all India weighted average cost of production. The highest absolute increase in MSP over the previous year has been recommended for Sesamum (Rs 523/quintal), Moong (Rs 480/quintal), and Sunflower seed (Rs 385/quintal).

  • The World Bank has slashed its growth forecast for India for the current financial year to 7.5 percent, a hefty 1.2 percentage points down from its previous forecast of 8.7 percent.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AGARIND Preferential Issue of shares 09-Jun-22 GALLANTT General 10-Jun-22
DHYAANI Audited Results;Half Yearly Results 09-Jun-22 HMT Audited Results 10-Jun-22
KABRADG General 09-Jun-22 INDINFR General 10-Jun-22
MISHTANN General 09-Jun-22 JFL General 10-Jun-22
ONTIC General 09-Jun-22 MAYUKH General 10-Jun-22
RUNGTAIR Right Issue of Equity Shares;General 09-Jun-22 OPTOCIRCUI Quarterly Results 10-Jun-22
UNISTRMU General 09-Jun-22 RELICAB Bonus issue 10-Jun-22
APIS  Results;Dividend on Preference Shares 10-Jun-22 RISHILASE General 10-Jun-22
CITURGIA Quarterly Results 10-Jun-22 SABOOSOD Right Issue of Equity Shares;General 10-Jun-22
ESCORP Bonus issue;General 10-Jun-22 SUPREMEINF Audited Results;General 10-Jun-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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
MUKANDENGG 09-Jun-22 Amalgamation LKPSEC 10-Jun-22 Final Dividend – Rs. – 0.3000
PFC 09-Jun-22 Final Dividend – Rs. – 1.2500 SADHNA 10-Jun-22 Stock  Split From Rs.10/- to Rs.1/-
QUESS 09-Jun-22 Interim Dividend – Rs. – 4.0000 SAGARSOFT 10-Jun-22 Dividend – Rs. – 3.0000

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