The NIFTY opened at 19246.50 with a gap up of 60 points in uncharted territory. The index recorded its intraday low at 19234.40 in its initial trades and bounced up. Prices have found intraday resistance around 19330 and then moved down. The decline found support around the opening tick and then the index turned up. Another leg of an upside move started and prices have recorded its intraday high at 19345.10. Prices have finally closed at 19322.50 near its day’s highs with a gain of 133.50 points or 0.70% up. OIL GAS led the bulls today as the sector gained 2.26%. FMCG, METAL, BANK, and FINANCIAL also did well today and ended nearly 1% higher. PHARMA, AUTO, and IT underperformed today and ended with a loss. The short-term trend is up and there is no doubt about it as the index is trading in uncharted territory. 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 index has been closing higher for the past five trading days. Prices have gained more than 600 points in the last four trading sessions. After such a sharp move, prices tend to move narrow and choppy. We may see a brief consolidation or even a dip. That will be a buying opportunity.


The BANK NIFTY opened at 44957.95 with a big gap up of 241 points. The index initially moved higher after recording the intraday low at 44882.10 in its initial trades. A sharp rally took place which lead prices to its intraday high at 45353.20. After that the index started moving sideways which lasted till the end and prices have finally closed at 45176.35 with a gain of 460 points. PSU BANK again outperformed today, saw a sharp upside move, and closed with a gain of 3.69%. PVT BANK has also moved up today and closed with a gain of 0.64%. Within the index, in terms of points, HDFC BANK contributed the highest on the upside while BANDHAN BANK contributed the lowest. The short-term trend is up. We have seen a range breakout last week which is giving us a pattern target around 45600. The index almost reached that level. The winning streak is continuing for the past five trading days and prices have moved more almost 2000 points. After such a sharp move, prices tend to move narrow and choppy. The index recorded lifetime new highs once again. Support is now visible around 44500 while there is no visible resistance. We should wait for a dip or a brief consolidation to buy again.


GRASIM 1793.70 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 1797.00 with a stop loss of 1782.80 and a target of 1824.90.
GLENMARK 659.45 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 657.80 with a stop loss of  665.30 and a target of 643.10.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
TATA CHEM   1020 CE BUY 30.20 CMP 24.55 46.20 BREAKOUT
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
IDFC.23.07 Jul 110.7 6.96 3.93 176940000 PERSISTENT.23.07 Jul 4855.1 -3.35 15.55 1392475
L&TFH.23.07 Jul 136 6.5 5.26 74854512 LAURUSLABS.23.07 Jul 356.6 -3.28 10.35 11996900
CANBK.23.07 Jul 320 5.28 8.53 56843100 BANDHANBNK.23.07 Jul 235.85 -3.1 16.59 48097500
BANKBARODA.23.07 Jul 200.9 5.1 6.58 102024000 BATAINDIA.23.07 Jul 1640.85 -2.75 25.28 1666875
IOC.23.07 Jul 96.45 4.84 18.76 78458250 MANAPPURAM.23.07 Jul 130 -2.48 4.41 68736000
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
GRASIM.23.07 Jul 1802.5 3.25 -0.72 12245975 GLENMARK.23.07 Jul 664 -2.4 -0.52 6645350
IBULHSGFIN.23.07 Jul 127.85 2.86 -5.19 56390700 CUMMINSIND.23.07 Jul 1887.65 -2.34 -0.37 2588400
AMBUJACEM.23.07 Jul 436.55 2.33 -1.87 57580200 MRF.23.07 Jul 100399 -1.4 -2.38 48330
RAMCOCEM.23.07 Jul 946.75 1.72 -1.01 2255050 METROPOLIS.23.07 Jul 1481.75 -1.21 -1.34 1475600
PEL.23.07 Jul 963.7 1.67 -2.33 9634500 SYNGENE.23.07 Jul 762 -1.1 -1.08 2937000


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Havells India Limited 1290.6 0.61 1613382 1146594 80.97 Nifty50 19322.55 0.7 87153
Hdfc Ltd. 2871.35 1.75 7011452 5346930 76.59 Niftybank 45158.1 0.92 87153
Icici Lombard General In 1338.1 -0.47 482320 793403 75.07 Nifty it 29424.8 -0.47 87153
Dabur India Ltd. 582.25 1.62 1375594 1457420 73.1 India Vix 11.54 6.85 87153
Hdfc Bank Ltd. 1719.8 1.08 22052058 14789780 72.68 Nifty Fmcg 52741.5 1.05 87153
Srf Ltd. 2274.35 -0.66 1030599 452285 72.36 Nifty Pharma 13614 -1.11 87153
Coalindia 231.65 0.28 7860203 5634153 71.77 Nifty Realty 523.9 0.75 87153
Pidilite Industries Ltd 2571.45 -0.99 473016 512809 71 Nifty Auto 15106.85 -0.27 87153
Larsen & Toubro Limited 2454.05 -0.87 1078456 1894147 70.4 Nifty Metal 6275.45 1.07 87153
Icici Bank Ltd. 942.55 0.85 12350359 9740979 70.37 Nifty Financial Services 20253.75 0.98 87153


   Domestic                                                                                                                                                  International
INR: Nikkei Services PMI (Jun) on 05th July, 2023

INR: FX Reserves, USD on 07th July, 2023

USD: Initial Jobless Claims on 06th July, 2023

USD: JOLTs Job Openings (May) on 06th July, 2023


  • India’s benchmark stock indices held on to steady gains and ended at fresh life time highs on Monday. The headline indices continued their record moves from the previous week after logging the best week in over 11 months. Ahead of closing on Monday, Sensex jumped 0.81% to a record high of 65,240.57 points. Nifty 50, on the other hand, rose 0.77% to 19,936.10 points. Furthermore, Nifty Bank breached 45,000-mark to hit an intraday high of 45,353.20 points.

  • India’s manufacturing activity continued to grow despite a modest downtick in June, reflecting sustained demand pick-up as the economy recovers. The India Manufacturing Purchasing Managers’ Index eased to 57.8 in June from 58.7 in May, according to IHS Markit. A print above 50 means expansion, while those below 50 indicate contraction.

  • Tata Motors on Monday said it will hike prices of its passenger vehicles with effect from July 17. The company will increase prices of its passenger vehicles (including EVs) by an average of 0.6% across models and variants, Tata Motors said in a statement.

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


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
BFLAFL General 04-Jul-23 ROSEMER Issue Of Warrants;General 05-Jul-23
EDVENSWA General 04-Jul-23 SOLARA Right Issue of Equity Shares 05-Jul-23
GENUSPOWER Final Dividend;Issue Of Warrants 04-Jul-23 VASUDHAGAM A.G.M.;Preferential Issue of shares 05-Jul-23
INTELLCAP Issue Of Warrants;General;Preferential Issue of shares 04-Jul-23 APIL A.G.M. 06-Jul-23
NIYOGIN Preferential Issue of shares;Issue Of Warrants;General 04-Jul-23 CRSTCHM A.G.M. 06-Jul-23
PREMIERPOL Quarterly Results 04-Jul-23 GMBREW Quarterly Results 06-Jul-23
PRIMEFRESH General 04-Jul-23 SMLT General 06-Jul-23
PROFINC Right Issue of Equity Shares;Preferential Issue of shares 04-Jul-23 AVONMERC General 07-Jul-23
SYSCHEM Rights Issue 04-Jul-23 INDOUS Bonus issue;General 07-Jul-23
DHRUV General 05-Jul-23 INDXTRA A.G.M.;General;Stock  Split 07-Jul-23
FOCUS A.G.M.;Bonus issue;Employees Stock Option Plan;General 05-Jul-23 NAVKAR A.G.M.;General 07-Jul-23
GGENG Right Issue of Equity Shares;General 05-Jul-23 ORISSAMINE Audited Results 07-Jul-23
GOGIACAP A.G.M.;General;Preferential Issue of shares;Quarterly Results 05-Jul-23 SHAHALLOYS General 07-Jul-23
HATSUN General 05-Jul-23 WANBURY Audited Results 07-Jul-23
INFOBEAN General 05-Jul-23 RAYALEMA General 08-Jul-23
KBCGLOBAL Audited Results;General;Quarterly Results 05-Jul-23 RAILTEL Final Dividend 09-Jul-23

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ALKYLAMINE 04-Jul-23 Final Dividend – Rs. – 10.0000 ADANIENT 07-Jul-23 Dividend – Rs. – 1.2000
ATFL 04-Jul-23 Final Dividend – Rs. – 3.0000 ALFREDHE 07-Jul-23 Final Dividend – Rs. – 3.5000
KANSAINER 04-Jul-23 Bonus issue 1:2 AMBUJACEM 07-Jul-23 Final Dividend – Rs. – 2.5000
MOTILALOFS 04-Jul-23 Final Dividend – Rs. – 3.0000 ASHOKLEY 07-Jul-23 Final Dividend – Rs. – 2.6000
NATHBIOGEN 04-Jul-23 Final Dividend – Rs. – 2.0000 AXISBANK 07-Jul-23 Final Dividend – Rs. – 1.0000
PSB 04-Jul-23 Final Dividend – Rs. – 0.4800 BHARATFORG 07-Jul-23 Final Dividend – Rs. – 5.5000
TIDEWATER 04-Jul-23 Final Dividend – Rs. – 15.0000 BIOCON 07-Jul-23 Final Dividend – Rs. – 1.5000
BEPL 05-Jul-23 Bonus issue 1:2 CARERATING 07-Jul-23 Final Dividend – Rs. – 7.0000
DEEPAKSP 05-Jul-23 Final Dividend – Rs. – 2.5000 CARERATING 07-Jul-23 Special Dividend – Rs. – 8.0000
MPHASIS 05-Jul-23 Final Dividend – Rs. – 50.0000 CORALFINAC 07-Jul-23 Final Dividend – Rs. – 0.3000
SUNDARMFIN 05-Jul-23 Final Dividend – Rs. – 15.0000 CROMPTON 07-Jul-23 Final Dividend – Rs. – 3.0000
ELEMARB 06-Jul-23 Final Dividend – Rs. – 3.3000 DELTACORP 07-Jul-23 Final Dividend – Rs. – 1.2500
IDBI 06-Jul-23 Dividend – Rs. – 1.0000 EIKO 07-Jul-23 Right Issue of Equity Shares
KPIL 06-Jul-23 Final Dividend – Rs. – 7.0000 HAPPSTMNDS 07-Jul-23 Final Dividend – Rs. – 3.4000
YASHO 06-Jul-23 Dividend – Rs. – 0.5000 JAYAGROGN 07-Jul-23 Final Dividend – Rs. – 5.0000
ACC 07-Jul-23 Dividend – Rs. – 9.2500 LTTS 07-Jul-23 Final Dividend – Rs. – 30.0000

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 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.