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 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.
|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.|
|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|
|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|
|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
|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
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
|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|
|RUNGTAIR||Right Issue of Equity Shares;General||09-Jun-22||OPTOCIRCUI||Quarterly Results||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|
|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|
Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014
Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, firstname.lastname@example.org
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing email@example.com with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail firstname.lastname@example.org.
Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL