The NIFTY opened at 19406.60 with a gap up of 84 points. The index could not sustain at the higher levels and started drifting downwards from the opening tick. Prices found support around 19300, recorded its intraday low at the same place, and then bounced up sharply. The index rallied and crossed above 19400 again to record its intraday high at 19434.15.The NIFTY again moved down afterward followed by a consolidation process towards the end. The index finally closed at 19389 near its opening tick with a gain of 66.45 points or 0.34% up.IT led the bulls today as the sector gained over 1% followed by FINANCIAL and MEDIA. AUTO, OIL GAS, and REALTY underperformed today and ended with a loss FMCG and METAL ended without much of a change. The short-term trend is up and there is no doubt about it as the index is trading in uncharted territory. The NIFTY continued recording lifetime highs and closed higher for the sixth consecutive trading day. Support is now visible around 18900 which is also the breakout point of a trading range. There is no visible resistance as prices are moving in uncharted territory.


The BANK NIFTY opened at 45310.55 with a gap up of 134 points. The index initially moved lower, filled the gap, and then fall further to record its intraday low at 45000.25. Prices have bounced up from there, saw a sharp intraday rally, and moved above the early morning highs. The index further moved up and recorded its intraday high at 45655.50. Prices then saw a dip followed by a consolidation and finally closed at 45283.60 with a gain of 107 points. PSU BANK again outperformed today, saw a sharp upside move, and closed with a gain of 1.89% PVT BANK has moved sideways today and ended without much of a change. Within the index, in terms of points, KOTAK BANK contributed the highest on the upside while AXIS BANK contributed the lowest. The short-term trend is up. The index continued recording lifetime new highs for the fourth consecutive trading day and gained more than 1500 points in the last five trading days. After such a sharp move prices tend to move narrow and choppy. Support is now visible around 44500 while there is no visible resistance as the index is moving inside uncharted territory. We should wait for a dip or a brief consolidation to buy again.


HCL TECH 1190.60 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 1193.55 with a stop loss of 5072.00 and a target of 5280.00.
ICICI PRU 565.30 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 562.60 with a stop loss of 567.35 and a target of 551.90.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
HCL TECH  1200 CE BUY 29.65 CMP 25.60 37.75 BREAKOUT
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BAJFINANCE.23.07 Jul 7905 7.24 12.9 4311250 EICHERMOT.23.07 Jul 3398.8 -6.64 44.39 4744775
PNB.23.07 Jul 57.65 6.37 16.66 311248000 IDFCFIRSTB.23.07 Jul 78.85 -3.67 0.27 203070000
BAJAJFINSV.23.07 Jul 1636 5.51 4.59 8353000 L&TFH.23.07 Jul 131.95 -3.12 4.12 76451908
HEROMOTOCO.23.07 Jul 3021 5.11 13.92 4011900 TATACOMM.23.07 Jul 1549.65 -2.99 0.01 3618500
FEDERALBNK.23.07 Jul 131.8 3.09 7.35 122370000 AARTIIND.23.07 Jul 494 -2.65 13.49 9070000
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BANKBARODA.23.07 Jul 204 1.77 -2.1 96039450 PEL.23.07 Jul 944 -1.96 -2.28 9382500
LTTS.23.07 Jul 3937.55 1.42 -1.26 1016200 ICICIPRULI.23.07 Jul 569.85 -1.6 -2.44 11514000
CIPLA.23.07 Jul 1011.15 1.23 -0.92 11039600 ICICIGI.23.07 Jul 1322.45 -1.54 -1.52 4017000
HDFCAMC.23.07 Jul 2295 1.13 -0.1 2474700 GNFC.23.07 Jul 597.65 -1.35 -0.09 7200700
LTIM.23.07 Jul 5223 0.87 -1.1 2072250 INDIGO.23.07 Jul 2612.35 -1.17 -1.21 3824400


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Srf Ltd. 2274.4 0 573277 808657 78.46 Nifty50 19389 0.34 86451
Gail (india) Limited 106.55 0.09 9292916 17077912 74.99 Niftybank 45301.45 0.32 86451
Bharti Airtel Limited 865.15 -1.59 7397493 2394123 71.83 Nifty it 29729.85 1.04 86451
Crompton Greaves Consume 286.75 -0.07 3311600 1551730 71.79 India Vix 11.7 1.39 86451
Pidilite Industries Ltd 2570.45 -0.04 438598 333411 70.49 Nifty Fmcg 52814.8 0.14 86448
Power Grid Corporation o 249.6 -0.36 6478476 6555598 70.11 Nifty Pharma 13675.45 0.45 86448
Nestleind 22624.05 -0.04 30149 38191 69.1 Nifty Realty 522.95 -0.18 86448
Infosys Limited 1345.15 0.86 5797775 5317689 68.77 Nifty Auto 15035.05 -0.48 86448
Hcl Technologies Ltd. 1190.6 0.76 1094468 1186499 67.8 Nifty Metal 6275.2 0 86448
Sun Pharma  Ltd 1048.8 1.56 1549174 1559180 66.68 Nifty Financial Services 20413.4 0.79 86448


   Domestic                                                                                                                                                  International
INR: Nikkei Services PMI (Jun) on 5th July, 2023

INR: ADP Nonfarm Employment Change (Jun) on 6th July, 2023

USD: FOMC Meeting Minutes on 5th July, 2023

USD: FX Reserves, USD on 7th July, 2023


  • Indices end at fresh closing highs for the fourth session, Nifty settles around 19,400. The Sensex was up 274.00 points or 0.42 percentat 65,479.05, and the Nifty was up 66.50 points or 0.34percentat 19,389.00. About 1,582 shares advanced, 1,826 shares declined, and 118 shares were unchanged.

  • Shares of L&T Finance Holdings declined 5 percent after Kotak Institutional Equities downgraded the stock to ‘sell’ from ‘reduce’.

  • PKH Ventures, the construction and development company, has failed to attract an overwhelming response from investors even on its final day of bidding, July 4. The offer has garnered bids for 1.65 crore equity shares against the IPO size of 2.56 crore equity shares, subscribing 65 percent.

  • JPMorgan India’s Sanjay Mookim is sanguine about India’s long-term economic growth and feels that it will benefit from the consumption boom underpinned by income potential and a robust safety net for those at the bottom of the pyramid.

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


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
CHOKSILA General 05-Jul-23 INDXTRA General;Stock  Split;A.G.M. 07-Jul-23
DHRUV General 05-Jul-23 INFRATRUST General 07-Jul-23
GGENG General;Right Issue of Equity Shares 05-Jul-23 NAVKAR General;A.G.M. 07-Jul-23
HATSUN General 05-Jul-23 ORISSAMINE Audited Results 07-Jul-23
INFOBEAN General 05-Jul-23 RESPONSINF Quarterly Results 07-Jul-23
KBCGLOBAL General;Audited Results;Quarterly Results 05-Jul-23 SHAHALLOYS General 07-Jul-23
RICHIRICH General;Preferential Issue of shares 05-Jul-23 SHARPLINE Preferential Issue of shares 07-Jul-23
SOLARA Right Issue of Equity Shares 05-Jul-23 VUENOW Preferential Issue of shares 07-Jul-23
TIERRA Right Issue of Equity Shares 05-Jul-23 WANBURY Audited Results 07-Jul-23
VASUDHAGAM Preferential Issue of shares;A.G.M. 05-Jul-23 BAMPSL General 08-Jul-23
APIL A.G.M. 06-Jul-23 BLSINFOTE General 08-Jul-23
CRSTCHM A.G.M. 06-Jul-23 EMERALD Quarterly Results 08-Jul-23
GMBREW Quarterly Results 06-Jul-23 GGL Quarterly Results 08-Jul-23
INFLAME General;Preferential Issue of shares;Issue Of Warrants 06-Jul-23 GGPL General;Quarterly Results 08-Jul-23
ORCHASP General 06-Jul-23 RAYALEMA General 08-Jul-23
SMLT General 06-Jul-23 SMGOLD Quarterly Results 08-Jul-23
TVVISION Preferential Issue of shares 06-Jul-23 UHZAVERI Quarterly Results 08-Jul-23
AVONMERC General 07-Jul-23 VIVIDM General;Quarterly Results 08-Jul-23
CEINSYSTECH General 07-Jul-23 VSL General;Quarterly Results 08-Jul-23
COMPUAGE General;Quarterly Results 07-Jul-23 RAILTEL Final Dividend 09-Jul-23
HCKKVENTURE Quarterly Results 07-Jul-23 ATHARVENT General;Quarterly Results 10-Jul-23
INDOUS General;Bonus issue;Increase in Authorised Capital 07-Jul-23 DPL Audited Results 10-Jul-23

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
BEPL 05-Jul-23 Bonus issue 1:2 EIKO 07-Jul-23 Right Issue of Equity Shares
DEEPAKSP 05-Jul-23 Final Dividend – Rs. – 2.5000 HAPPSTMNDS 07-Jul-23 Final Dividend – Rs. – 3.4000
MPHASIS 05-Jul-23 Final Dividend – Rs. – 50.0000 JAYAGROGN 07-Jul-23 Final Dividend – Rs. – 5.0000
SADHNANIQ 05-Jul-23 Bonus issue 2:9 LTTS 07-Jul-23 Final Dividend – Rs. – 30.0000
SUNDARMFIN 05-Jul-23 Final Dividend – Rs. – 15.0000 MAWANASUG 07-Jul-23 Dividend – Rs. – 3.0000
ELEMARB 06-Jul-23 Final Dividend – Rs. – 3.3000 MUFIN 07-Jul-23 Bonus issue 2:1
IDBI 06-Jul-23 Dividend – Rs. – 1.0000 NAVINFLUOR 07-Jul-23 Final Dividend – Rs. – 7.0000
KPIL 06-Jul-23 Final Dividend – Rs. – 7.0000 NH 07-Jul-23 Final Dividend – Rs. – 2.5000
YASHO 06-Jul-23 Dividend – Rs. – 0.5000 NUCLEUS 07-Jul-23 Final Dividend – Rs. – 10.0000
ACC 07-Jul-23 Dividend – Rs. – 9.2500 PRESSMN 07-Jul-23 Final Dividend – Rs. – 1.0000
ADANIENT 07-Jul-23 Dividend – Rs. – 1.2000 REDINGTON 07-Jul-23 Final Dividend – Rs. – 7.2000
ALFREDHE 07-Jul-23 Final Dividend – Rs. – 3.5000 ROTO 07-Jul-23 Final Dividend – Rs. – 3.1500
AMBUJACEM 07-Jul-23 Final Dividend – Rs. – 2.5000 ROTO 07-Jul-23 Bonus issue 1:1
ASHOKLEY 07-Jul-23 Final Dividend – Rs. – 2.6000 RPEL 07-Jul-23 Final Dividend – Rs. – 1.0000
AXISBANK 07-Jul-23 Final Dividend – Rs. – 1.0000 SAH 07-Jul-23 Final Dividend – Rs. – 0.5000
BHARATFORG 07-Jul-23 Final Dividend – Rs. – 5.5000 SINCLAIR 07-Jul-23 Final Dividend – Rs. – 1.5000
BIOCON 07-Jul-23 Final Dividend – Rs. – 1.5000 SWARAJENG 07-Jul-23 Final Dividend – Rs. – 92.0000
CARERATING 07-Jul-23 Special Dividend – Rs. – 8.0000 ZFCVINDIA 07-Jul-23 Final Dividend – Rs. – 13.0000
CARERATING 07-Jul-23 Final Dividend – Rs. – 7.0000 LTIM 10-Jul-23 Final Dividend – Rs. – 40.0000
CORALFINAC 07-Jul-23 Final Dividend – Rs. – 0.3000 ONWARDTEC 10-Jul-23 Final Dividend – Rs. – 3.0000
CROMPTON 07-Jul-23 Final Dividend – Rs. – 3.0000 BALKRISIND 11-Jul-23 Final Dividend – Rs. – 4.0000
DELTACORP 07-Jul-23 Final Dividend – Rs. – 1.2500 BHARATSE 11-Jul-23 Dividend – Rs. – 1.4000

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 Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)

Disclosure Appendix

Analyst Certification (For Reports)

Kiran Tahlani, Elite Wealth Limited,

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.

Research Excerpts

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

Company-Specific Disclosures

Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting, or e-mailing 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

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

Other Disclosures

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:

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:

  1. Reports
  2. 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;

  1. Compensation

(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

Provided that research analyst or research entity shall not be required to make a disclosure as per sub-clauses (c), (d) and (e) of clause (ii) or sub-clauses (a) and (b) of clause (iii) to the extent such disclosure would reveal material non-public information regarding specific potential future investment banking or merchant banking or brokerage services transactions of the subject company.
(4) EWL or its proprietor has never served as an officer, director or employee of the subject company;
(5) EWL has never been engaged in market making activity for the subject company;
(6) EWL shall provide all other disclosures in research report and public appearance as specified by the Board under any other regulations.