NIFTY:
The NIFTY opened at 19076.85 again in uncharted territory with a gap up of 104 points. The index recorded its intraday low at 19024.60 in its Initial trades and bounced up. Prices have moved above 19100 and then started a consolidation process. Prices have seen a breakout on the upside and moved further up. The index reached 19200 and noticed a minor dip towards the end. The NIFTY rallied throughout the day and recorded its intraday high at 19201.70. Prices have finally closed at 19189.05 near its day’s highs with again of 216.95 points or 1.16% up. All the sectoral indices have closed with a gain except METAL which ended with a minor loss. AUTO and IT led the bulls today by ending more than 2% higher followed by PHARMA, BANK, and FINANCIAL. On the weekly timeframe, the NIFTY made a wide bullish candle. This week, the index rallied more than 500 points. After such a sharp move, prices tend to move narrow and choppy. We may see a brief consolidation or even a dip in the next week. That will be a buying opportunity. We should wait for the one. Intraday traders should look for buying only on dips and consolidation breakouts.
BANK NIFTY:
The BANK NIFTY opened at 44666 with a big gap up of 275 points. The index initially moved lower but bounced up before filling the gap. Prices have recorded its intraday low at 44447.20 and then moved higher. The rally was slow and modest which lasted till the end. Prices have recorded its intraday high at 44787.10 and finally dosed at 44716.95 with a gain of 325 points. PSU BANK outperformed today, saw a sharp upside move and closed with a gain of 2.06% PVT BANK has also moved up today and closed with a gain of 1.17% Within the index, in terms of points, HDFC BANK contributed the highest on the upside while ICICI BANK contributed the lowest. The short-term trend is up now. A trading range inside 43400-44500 finally broke on the upside and the index closed well above 44500 resistance. Also, the index recorded lifetime new highs. Support is now visible around 44000 while there is no visible resistance. We should wait for a dip or a brief consolidation to buy again.
TECHNICAL PICKS
COMPANY NAME | CMP | B/S | RATIONALE |
TECH M | 1130.85 | BUY | The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 1130.85 with a stop loss of 1093.00 and a target of 1234.00. |
IBULHSGFIN | 123.40 | BUY | The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 123.40 with a stop loss of 116.90 and a target of 136.45. |
DERIVATIVE PICKS
Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
HCL TECH | 1200 CE | BUY | 28.20 | CMP | 22.20 | 52.00 | BREAKOUT |
Long Buildup | Short Buildup | |||||||||
Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
HDFCAMC.23.07 Jul | 2273.6 | 10.97 | 114.58 | 2489400 | MCX.23.07 Jul | 1499.95 | -8.55 | 1194.27 | 2169200 | |
BIOCON.23.07 Jul | 265.8 | 8.67 | 1788.89 | 32300000 | JKCEMENT.23.07 Jul | 3361.55 | -2.01 | 1111.11 | 272500 | |
IBULHSGFIN.23.07 Jul | 124.3 | 7.34 | 3977.62 | 59476200 | VEDL.23.07 Jul | 274.85 | -2 | 2010.7 | 46562000 | |
BEL.23.07 Jul | 126.35 | 4.59 | 923.48 | 76015200 | AMBUJACEM.23.07 Jul | 426.6 | -1.86 | 2539.6 | 58678200 | |
INFY.23.07 Jul | 1345.25 | 4.29 | 2724.59 | 38459600 | APOLLOTYRE.23.07 Jul | 401.55 | -1.79 | 2251.01 | 11830300 | |
Short Covering | Long Unwinding | |||||||||
Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
TOP DELIVERY PERCENTAGE
Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
Sectors | Price | Change % | Quantity | |||||||
United Breweries Limited | 1511.95 | 0.45 | 206940 | 409590 | 82.83 | Nifty50 | 19189.05 | 1.14 | 39534667 | |
Hdfc Ltd. | 2821.95 | 1.55 | 6981604 | 5584807 | 82.41 | Niftybank | 44747.35 | 0.95 | 16935638 | |
Alkem | 3512.85 | 1.94 | 205515 | 476562 | 75.15 | Nifty it | 29563 | 2.5 | 1462020 | |
Lic Housing Finance Ltd | 392.2 | -0.19 | 2961054 | 1968181 | 74.41 | India Vix | 10.8 | -0.83 | 693461946 | |
Dr. Reddys Lab Ltd | 5159.6 | 1.01 | 486141 | 658002 | 74.33 | Nifty Fmcg | 52194.75 | 0.58 | 339630 | |
Bharti Airtel Limited | 878.75 | 0.75 | 5217511 | 4642025 | 74 | Nifty Pharma | 13767.5 | 1.06 | 55120922 | |
Godrej Cons Products Ltd | 1081 | 1.11 | 1448778 | 2014960 | 72.97 | Nifty Realty | 520 | 0.53 | 1455652219 | |
Havells India Limited | 1282.8 | -0.52 | 1416091 | 851447 | 72.6 | Nifty Auto | 15147.65 | 2.07 | 50200184 | |
Maruti Suzuki India Ltd | 9789.05 | 2.6 | 845006 | 348796 | 72.28 | Nifty Metal | 6209.1 | -0.03 | 121746096 | |
Mah & Mah Ltd. | 1453.6 | 4.2 | 4114865 | 1851446 | 70.88 | Nifty Financial Services | 20057.7 | 0.82 | 6517489 |
UPCOMING ECONOMIC DATA
Domestic International | |
INR: Nikkei S&P Global Manufacturing PMI (Jun) on 3rd July, 2023
INR: Nikkei Services PMI (Jun) on 5th July, 2023 |
USD: ISM Manufacturing PMI (Jun) on 3rd July, 2023
USD: FOMC Meeting Minutes on 5th July, 2023 |
NEWS UPDATES
-
Benchmark indices ended higher on June 30 with Nifty around 19,200. At close, the Sensex was up 803.14 points or 1.26 percentat 64,718.56, and the Nifty was up 216.90 points or 1.14percentat 19,189. About 1,865 shares advanced, 1,543 shares declined, and 132 shares were unchanged.
-
The boards of mortgage lender Housing Development Finance Corporation (HDFC) and private lender HDFC Bank have approved July 1 as the effective date of merger, and July 13 as the record date.
-
Rajiv Jain’s GQG Partners has acquired fresh stake worth Rs 1,676 crore in Adani Transmission Ltd. on Friday.
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MG Motor India on Saturday reported 14% increase in retail sales at 5,125 units in June 2023 as compared to the same month last year. The company had posted a retail sales of 4,504 units in June 2022, MG Motor India said in a statement.
Source: Economic Times, Indian Express, Business Today, Livemint, Business Standard, Bloomberg Quint
BOARD MEETINGS
Company Name | Purpose | Meeting Date | Company Name | Purpose | Meeting Date |
BESTEAST | General;A.G.M. | 03-Jul-23 | HATSUN | General | 05-Jul-23 |
CHALET | Audited Results;General | 03-Jul-23 | INFOBEAN | General | 05-Jul-23 |
GCSL | Increase in Authorised Capital | 03-Jul-23 | KBCGLOBAL | Audited Results;General;Quarterly Results | 05-Jul-23 |
GISOLUTION | General | 03-Jul-23 | ROSEMER | General;Issue Of Warrants | 05-Jul-23 |
JTLIND | General | 03-Jul-23 | SOLARA | Right Issue of Equity Shares | 05-Jul-23 |
KREONFIN | General;A.G.M. | 03-Jul-23 | VASUDHAGAM | Preferential Issue of shares;A.G.M. | 05-Jul-23 |
MILEFUR | General | 03-Jul-23 | APIL | A.G.M. | 06-Jul-23 |
RMCL | Audited Results;A.G.M. | 03-Jul-23 | CRSTCHM | A.G.M. | 06-Jul-23 |
SEML | Bonus issue | 03-Jul-23 | GMBREW | Quarterly Results | 06-Jul-23 |
VISTARAMAR | General;A.G.M. | 03-Jul-23 | SMLT | General | 06-Jul-23 |
VISVEN | General | 03-Jul-23 | AVONMERC | General | 07-Jul-23 |
BFLAFL | General | 04-Jul-23 | INDOUS | General;Increase in Authorised Capital;Bonus issue | 07-Jul-23 |
EDVENSWA | General | 04-Jul-23 | INDXTRA | General;A.G.M.;Stock Split | 07-Jul-23 |
GENUSPOWER | Final Dividend;Issue Of Warrants | 04-Jul-23 | NAVKAR | General;A.G.M. | 07-Jul-23 |
INTELLCAP | Preferential Issue of shares;General;Issue Of Warrants | 04-Jul-23 | ORISSAMINE | Audited Results | 07-Jul-23 |
PREMIERPOL | Quarterly Results | 04-Jul-23 | SHAHALLOYS | General | 07-Jul-23 |
PRIMEFRESH | General | 04-Jul-23 | WANBURY | Audited Results | 07-Jul-23 |
PROFINC | Preferential Issue of shares;General;Right Issue of Equity Shares | 04-Jul-23 | RAYALEMA | General | 08-Jul-23 |
SYSCHEM | Rights Issue | 04-Jul-23 | RAILTEL | Final Dividend | 09-Jul-23 |
DHRUV | General | 05-Jul-23 | DPL | Audited Results | 10-Jul-23 |
Corporate Action
Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
AXTEL | 03-Jul-23 | Final Dividend – Rs. – 3.0000 | ALFREDHE | 07-Jul-23 | Final Dividend – Rs. – 3.5000 |
BALAMINES | 03-Jul-23 | Final Dividend – Rs. – 10.0000 | AMBUJACEM | 07-Jul-23 | Final Dividend – Rs. – 2.5000 |
GEOJITFSL | 03-Jul-23 | Final Dividend – Rs. – 1.5000 | ASHOKLEY | 07-Jul-23 | Final Dividend – Rs. – 2.6000 |
JYOTHYLAB | 03-Jul-23 | Final Dividend – Rs. – 3.0000 | AXISBANK | 07-Jul-23 | Final Dividend – Rs. – 1.0000 |
SHRADDHA | 03-Jul-23 | Right Issue of Equity Shares | BHARATFORG | 07-Jul-23 | Final Dividend – Rs. – 5.5000 |
ALKYLAMINE | 04-Jul-23 | Final Dividend – Rs. – 10.0000 | BIOCON | 07-Jul-23 | Final Dividend – Rs. – 1.5000 |
ATFL | 04-Jul-23 | Final Dividend – Rs. – 3.0000 | CARERATING | 07-Jul-23 | Final Dividend – Rs. – 7.0000 |
KANSAINER | 04-Jul-23 | Bonus issue 1:2 | CARERATING | 07-Jul-23 | Special Dividend – Rs. – 8.0000 |
MOTILALOFS | 04-Jul-23 | Final Dividend – Rs. – 3.0000 | CORALFINAC | 07-Jul-23 | Final Dividend – Rs. – 0.3000 |
NATHBIOGEN | 04-Jul-23 | Final Dividend – Rs. – 2.0000 | CROMPTON | 07-Jul-23 | Final Dividend – Rs. – 3.0000 |
PSB | 04-Jul-23 | Final Dividend – Rs. – 0.4800 | DELTACORP | 07-Jul-23 | Final Dividend – Rs. – 1.2500 |
TIDEWATER | 04-Jul-23 | Final Dividend – Rs. – 15.0000 | EIKO | 07-Jul-23 | Right Issue of Equity Shares |
BEPL | 05-Jul-23 | Bonus issue 1:2 | HAPPSTMNDS | 07-Jul-23 | Final Dividend – Rs. – 3.4000 |
DEEPAKSP | 05-Jul-23 | Final Dividend – Rs. – 2.5000 | JAYAGROGN | 07-Jul-23 | Final Dividend – Rs. – 5.0000 |
MPHASIS | 05-Jul-23 | Final Dividend – Rs. – 50.0000 | 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 |
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