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Monday, June 19, 2023

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

๐Ÿ”Ž *Nifty* 
Index opened positive and kept moving in the northward direction throughout the day and touched intraday high of 18864 zones, merely a few points away from its life time high levels. Bulls were in complete dominance in the second half of the session and gave the highest ever closing with gains of around 140 points. It formed a Bullish candle on daily scale and has been making higher highs from the last four sessions. It formed a Bullish candle on weekly frame and has been making higher highs from the last twelve weeks

๐Ÿ“Š Now it has to hold above 18777 zones to witness an up move towards 18888 and 19000 zones while on the downside support exists at 18710 and 18676 zones

๐ŸŽข India VIX was down by 2.17% from 11.08 to 10.84 levels. Volatility sunk lower and supported the bulls at record high index levels
 
๐Ÿงฎ On option front, weekly maximum Call OI is at 18800 then 19000 strike while maximum Put OI is at 18700 then 18800 strike. Call writing is seen at 19100 then 19000 strike while Put writing is seen at 18800 then 18700 strike. Option data suggests a shift in broader trading range in between 18550 to 19000 zones while an immediate trading range in between 18700 to 18900 zones

๐Ÿ”Ž *Bank Nifty*
Index opened on a positive note near 43600 zones but remained consolidative in a narrow range of 150 points between 43650 to 43800 in the first half of the session. However good momentum was seen in the last hour of the session as swift movement of 300 points was seen towards 44100 zones. It formed a Bullish candle on daily scale as buying was seen in heavyweights and ended with decent gains of 500 points. On weekly scale it formed a small bodied candle with long shadow as buying is visible at lower zones but negated the formation of highs lows after thirteen weeks

๐Ÿ“Š Now it has to hold above 43750 zones for a bounce towards 44144 then 44250 levels while on the downside support is seen at 43750 then 43500 zones

๐Ÿ”Ž *Fin Nifty*
Index opened gap up and witnessed buying interest right from the initial tick and continued the momentum throughout the entire trading session. It formed a strong bullish candle on daily frame and Doji on weekly frame indicating that buying is visible at lower levels

๐Ÿ“Š Now till it holds above 19300 levels momentum can extend towards 19600 then previous life time high of 19778 zones while on the downside supports are placed at 19300 then 19200 zones

*Stocks* 
๐Ÿš€ Bullish setup in HDFC Life, Ashokley, Exide, ICICI Pru, M&MFin, HAL, IRCTC, Lichsgfin, BHEL, SBI Life, IDFC First Bank, BEL, Ind Hotel, Naukri, Bajaj Finserv, IDFC, Cholafin, Trent, Bharatforg, Titan, Muthootfin, ITC, Mcdowell, and Balkrishna Ind 

๐Ÿป Bearish setup in Bajaj Auto, Guj Gas, TCS and NMDC

Market Indication

Market Indication:
Global: FLAT to POSITIVE

NIFTY: FLAT to POSITIVE

BANKNIFTY: FLAT to POSITIVE

BULK Deals: IIFL Finance, IKIO Lighting, Piramal Pharma etc.

Stocks In F&O Ban Period: Delta Corp, Indiabulls Housing Finance, Indian Energy Exchange, India Cements, L&T Finance Holdings, Manappuram Finance, Tata Chemicals, and Zee Entertainment Enterprises

Results Today: Nil

SGX NIFTY: (Positive)

18916 +18.00 +0.10%

Saturday, June 17, 2023

Buy TATA steel

Buy TATA steel
For short term
Traget 140,150++

EX BONUS DATES

*EX BONUS DATES*
COMPANY RATIO XB DATE
*BLUE STAR 1:1 20-06-2023*
*IndiaMart 1:1 21-06-2023*
*Gulshan Poly 1:5 21-06-2023*  
*Sadhna Nitro 2:9 27-06-2023*
*APTECH 2:5 06-07-2023* 
*ROTO PUMPS 1:1 07-07-2023*

IPOs in Pipeline

๐Ÿšจ *IPOs in Pipeline* ๐Ÿšจ

1. HMA Agro Industries Limited (Dates Confirmed)
2. IdeaForge Technology Limited
3. PKH Ventures 
4. Cyient DLM
5. Deltatech Gaming 

*IPO Season ๐ŸŒง️ is Back !!!*

_*Stay Tuned For All IPO Updates*_ ๐Ÿ’ฐ

5 Companies Files DRHP with SEBI

*5 Companies Files DRHP with SEBI for IPO this Month* ๐Ÿ—“️

๐Ÿ“Valiant Laboratories IPO
๐Ÿ“ASK Automotive IPO
๐Ÿ“Western Carriers IPO
๐Ÿ“Mukka Proteins IPO
๐Ÿ“RBZ Jewellers IPO

Economic Calendar Today

*Economic Calendar, Monday, June 12th 2023*

๐Ÿ‡ฏ๐Ÿ‡ต *Japan* : Machine Tool Orders (YoY)

๐Ÿ‡จ๐Ÿ‡ณ *China* : New Loans, Outstanding Loan Growth (YoY), Chinese Total Social Financing, M2 Money Stock (YoY)

๐Ÿ‡ฎ๐Ÿ‡ณ *India* : Cumulative Industrial Production (Apr), CPI (YoY) (May), Manufacturing Output (MoM) (Apr), Industrial Production (YoY) (Apr)

๐Ÿ‡บ๐Ÿ‡ธ *USA* : Consumer Inflation Expectations, 3-Month Bill Auction, 6-Month Bill Auction, 3-Year Note Auction, 10-Year Note Auction, Federal Budget Balance (May)

Friday, June 16, 2023

GoldBond

Sovereign Gold Bond (SGB) scheme - Series I will be open between June 19-23. Series II will be open between Sept 11-15.

Incredible growth! Electric vehicles

Incredible growth! Electric vehicles (EVs) now account for 6.4% of total vehicle registrations in India! ๐Ÿ’ช

2023*: 6.4%
2022: 4.6%
2021: 1.8%
2020: 0.71%
2019: 0.73%
2018: 0.5%

*Up to June 15
(Vahan Registration; RBI)

BUY ENDURANCE

BUY ENDURANCE @ 1575-1600, SL 1555, TGT 1688, 1750, 1857

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

๐Ÿ”Ž *Nifty* 
Index opened positive but failed to cross and hold above 18777-18800 zones and drifted lower throughout the day. It breached its previous day’s low and touched intraday low of 18669 in the last hour to close with losses of around 70 points. Index remained in overall pressure and witnessed profit booking decline. It formed a Bearish candle on daily scale but has been making higher highs from the last three sessions

๐Ÿ“Š Now it has to hold above 18676 zones to witness an up move towards 18777 and 18888 zones while on the downside support exists at 18636 and 18550 zones

๐ŸŽข India VIX was down by 0.72% from 11.16 to 11.08 levels. Volatility was slightly down and is at overall lower levels causing premiums to squeeze
 
๐Ÿงฎ On option front, weekly maximum Call OI is at 18800 then 18700 strike while maximum Put OI is at 18700 then 18600 strike. Call writing is seen at 18700 then 18800 strike while Put writing is seen at 18700 then 18500 strike. Option data suggests a broader trading range in between 18450 to 18900 zones while an immediate trading range in between 18600 to 18800 zones

๐Ÿ”Ž *Bank Nifty*
Index opened on a flattish note and failed to hold above 44044 marks and gradually drifted by more than 500 points towards 43400 zones. It finally broke its crucial 20DEMA on the daily scale and gave a range breakdown after fourteen sessions. It formed a Big Bearish candle on daily scale as sustained selling pressure was seen throughout the day as private Banks remained under pressure

๐Ÿ“Š Now till it holds below 43750 zones weakness could be seen towards 43250 then 43000 levels while on the upside hurdle is placed at 43750 then 44000 levels

๐Ÿ”Ž *Fin Nifty*
Index opened flattish and witnessed sustained selling pressure throughout the trading session. It gave a range breakdown of the last twelve trading sessions and closed below its crucial 20DEMA which implies pause in the current up move. It formed a Bearish Marubozu candle on daily frame which suggests dominance by bears. 

๐Ÿ“Š Now till Fin Nifty holds below 19350 levels weakness could be seen towards 19100 then 18980 zones while on the upside hurdle is seen at 19372 then 19500 levels

*Stocks* 
๐Ÿš€ Bullish setup in L&TFH, Godrejprop, Apollo Hospital, IDFC First Bank, Drreddy, Cipla, Lupin, Dabur, BPCL, Nestleind, ITC, M&M, Bata India and Asian Paint

๐Ÿป Bearish setup in ZEEL, RBL Bank, Heromotoco, PNB, Can Bank, Bandhan Bank, Tatachem, Bank Baroda, Wipro, Federal Bank, SBIN, Kotak Bank, HDFC Bank, Eicher Motor and HDFC

From Advisory Desk 16th June 2023

From Advisory Desk 16th June 2023
 
Market Outlook: US equities had another strong day yesterday, fueled by robust economic data, resulting in all three major benchmark indices up by over 1%, with the S&P500 and Nasdaq indices closing at near 14-month highs. The environment of slowing inflation and a resilient economy creates the perfect conditions for a rally in equity markets, which is happening around the world, especially in Indian and US markets. In contrast, the ECB raised interest rates to a 22-year high and indicated more to come on account of higher inflation pressure. Asian markets have started on a mixed note, while the SGX Nifty is indicating a positive opening. Yesterday, our market witnessed a profit booking correction, especially in financial stocks, on account of weak global cues. However, the overall direction of the market is still positive and we expect the uptrend momentum to continue with intermittent minor declines.
 
Actionable: Buy IDFC First Bank, Tata Steel, Ashok Leyland.
 
IPO listing: IKIO Lighting shares to start trading in exchanges today after oversubscribed by 66 times. Grey Market is indicating 30-35% premium.
 
Global market:
DOW:  + 428
SGX NIFTY:   + 40   (prev. close 18760)
NIFTY 50 : 18688
Sensex : 62917
 
Institution:
FII:                +   3086     Cr
DII:                -    298       Cr

NSE:
Advances:  1669  / Declines:  1870

Currency:
Dollar: $ 82.18
Dollar Index: 102.14
 
Commodity:
Gold: $ 1970  per ounce
Crude: $ 75.45  per barrel
 
Bonds:
10 year US bond rate: 3.74
10 year Indian Bond rate: 7.04

Derivative:
PCR: 0.93
VIX:  11.08

Updates:
 
TCS – As per reports, TCS's $2 billion, 10-year deal with the American arm of Dutch insurer Aegon NV has been scrapped five-and-a-half years after Transamerica Life Insurance Co. selected TCS. Transamerica plans to cut its dependence on third-party IT services firms such as TCS.

Reliance Industries - As per reports, Reliance Industries is in talks with lenders for a foreign-currency loan of up to $2 billion to fuel the ongoing expansion of its oil-to-telecoms business.
 
Titagrah Wagons/Ramkrishna Forgings - A consortium between Ramkrishna Forgings Limited and Titagarh Rail Systems Limited were awarded a contract worth Rs 12,226.5 crore under AatmaNirbhar Bharat Initiative by Ministry of Railways. They were lowest bidder earlier.
 
BHEL - Company signed a memorandum of understanding with Volvo Eicher Commercial Vehicles to jointly develop and deploy type-IV cylinders (Hydrogen/CNG) in the commercial vehicle segment alert.  
 
Torrent Pharma - U.S. FDA has issued an Establishment Inspection Report after inspecting the drugmaker’s oral-oncology manufacturing facility at Bileshwarpura in Gujarat.
 
Natco Pharma - USFDA has issued an Establishment Inspection Report after inspecting its manufacturing facility at Visakhapatnam in Andhra Pradesh from Jan 30 to Feb 3.
 
The FTSE index rebalancing is taking place today around 3 PM in which India is likely to receive net inflows of nearly $250 million to $270 million. Medanta is likely to see inflows of $8.1 million, Piramal Pharma can see inflows of $11.1 million.
 
Securities in ban: BHEL, DELTACORP, IBULHSGFIN, IEX, INDIACEM, L&TFH, MANAPPURAM FINANCE, TATACHEM, ZEEL.
 
Derivative View: On option front, weekly maximum Call OI is at 18800 then 18700 strike while Maximum Put OI is at 18700 then 18600 strike. Option data suggests an immediate trading range in between 18600 to 18800 zones.

News and Impact

News and Impact
 
 
·      Expects market to open on a positive note on account of favorable global markets. US market closed to 14-month high, strong FIIs buying interest and impressive domestic economy data may have  positive impact in the market. A six-day advance for the US S&P 500 sent the gauge above 4,400 amid speculation the Federal Reserve will have to end its tightening cycle sooner rather. Dow Jones and Nasdaq composite climbed up over 1% after the US Retail sales data announced better than expectation on Month of Month basis but poor jobless data indicating to pause in interest rate hike. As a result, US bond yield declined and Dollar Index fell to 2-month low to below 103 level as investors digested US Fed rate hike and hawkish commentary including the ECB lifting interest rates by a quarter of a percentage point , as was expected. Asian markets witnessed mixed bag while Japan Index declined ahead of Bank of Japan interest rate decision to be announce today. However, China index gained on hope of China government to announce stimulus. SGX Nifty is up quarter percent while yesterday declined nearly half percent on account of profit booking. US Future marginally decline due to quarterly expiry and rebalancing today while market will be shut on holiday.  Expects positive for metal stocks on account of increased base metal price on LME and China stimulus to improve global demand. Pharma stocks may rally continue due to US FDA approval and clean chit by USFDA approval Indian pharma companies. IKIO listing and FTSE rebalancing will be in focus today.
 
·      US Market   – US Market witnessed smart rally yesterday. Dow Jones surged over 1% to close 6-month high while the S&P 500 and Nasdaq advance 1% to close at their highest in 14 months, as investors cheered economic data that fueled bets that the Federal Reserve is nearing the end of its rate hike campaign. US Retail sales data announced better than expectation on Month of Month basis but poor jobless data indicating may pause in rate hike.
 
·      Global market summary – U.S. stocks hit fresh 14-month highs, US Dollar Index fell to 2-month low to below 103. Both US 10-Year and 2-year Yield marginally. ECB Raises Main Refinancing Rate By 25BPS to 4.00%; Estimates. 4.00% - The ECB lifted rates Thursday by another quarter-point, with President Christine Lagarde describing a further hike in July as “very likely.”
 
·      Asian Market –Asian equities are witnessing mixed bag on expectation of more stimulus from China and overnight rally in the US market. Taiwan, Hong Kong Index, South Korea Index gained nearly half percent each. Japan Index slipped 0.5% ahead of Japan central bank policy decision to be release today.
 
·      European Market - European stocks closed with losses on Thursday, except for the UK exchange, after the European Central Bank's (ECB) rate hike decision. Germany Index slipped over half percent while UK Index managed to ended positive territory. The eurozone's benchmark rate is at its highest since May 2001 after the European Central Bank delivered a widely expected 25-basis-point rate hike, dampening sentiment in the region's stock markets.
 
·      Oil –  Brent Crude advance 2% to above $75/bbl as a weaker dollar and expectations for more stimulus in China outweighed concerns over higher interest rates in the US and Europe.
 
·      Gold –.Gold rebounded after comments from the European Central Bank president that another interest-rate hike is likely in July. The dollar and Treasury yields pushed lower in response, helping lift bullion. Gold gained 1% to $1956/ounce.
 
·      Previous Day market Update-  Equity benchmark index snapped it's 3-day winning streak and closed in red after the US Fed left rates unchanged as anticipated, but hinted at the possibility of more hikes later this year. Global markets also declined today as investors turned cautious on Fed signal that two rate hikes were possible by the end of the year. Interest sensitive sectors like banks, auto and realty stocks were major losers today while defensive sectors like healthcare and FMCG stocks recorded smart gain. Major European markets were down ahead of the European Central Bank (ECB) policy outcome. ECB may hike rates for the eighth straight time. Sensex opened 75 points lower at 63,154 and fell 311 points, or 0.50% to close at 62,918. Nifty closed the day with a loss of 68 points, or 0.40 per cent, at 18,688. However, bank nifty was biggest loser today led by heavyweights private banks like HDFC Bank, ICICI, Axis Bank, Kotak Bank. Bank Nifty nosedived over 1% today. FIIs were net buyers Rs3086cr while DIIs were net sellers Rs298cr .
 
·      Nifty Technical Levels – Nifty formed a Bearish candle on daily scale but has been making higher highs from the last three sessions. Now it has to hold above 18676 zones to witness an up move towards 18777 and 18888 zones while on the downside support exists at 18636 and 18550 zones.
 
·      Bank Nifty Technical Levels – Bank Nifty formed a Big Bearish candle on daily scale as sustained selling pressure was seen throughout the day as private Banks remained under pressure. Now till it holds below 43750 zones weakness could be seen towards 43250 then 43000 levels while on the upside hurdle is placed at 43750 then 44000 levels.

·      Actionable BUY – Brigade, BHEL, BSE Ltd, Global Health, Tata Steel and Mazagoan Dock
 
·      Brokers Radar – ITC TGT by Nomura at 485, Nomura TGT on Ceat Ltd at 1765, Ashok Leland TGT by Nomura at 187.
 
·      Events – FTSE Rebalancing today, IKIO IPO listing today while it has been subscribed by 68 times, Rating agency Moody’s to meet with Government officials.  
 
·      Corporate Action  - ex-dividend PFC Rs4.50, Angel One Rs4, Piramal Enterprises Rs16, Torrent Power Rs4, Welspun Corp Rs5, Wipro share buy-back
 
·      Global Data – Fed Service Business Activities (US), Bank of Japan interest rate decision
 
·      Market Summary – Reliance in talks for $2bn loan to fuel expansion,  SAT gives no immediate relief to Zee promoters, refuses to stay Sebi order, Godrej Properties to buy 7.44-acre land parcel in Kolkata, Cochin Shipyard wins order, PNB, LIC, SBI and BoB looking to seek formal bids for stake sale in UTI AMC, Govt cuts import duties on Refined Soybean and Sunflower. Bharat Heavy Electricals, Titagarh Rail Consortium to Supply 80 Vande Bharat Express slipper train. Foxconn Seeks to Set Up Electric Vehicle Factory in India: ET
 
·      Ramkrishna Forgings and Titagarh Rail Systems – Both companies awarded the contract to manufacture and supply 15,40,000 forged wheels over a span of 20 years, under the AatmaNirbhar Bharat Initiative by Ministry of Railways, Government of India with the total contract valued at  Rs12,226.5 crores – positive.
 
·      FTSE, Sensex rebalancing to take place on Friday - Here are the changes expected – Some stocks that need to be kept on the radar due to the changes include Medanta or Global Health. The stock will be included in the FTSE All Cap Index and is likely to see inflows of $8.1 million. Piramal Pharma is the other inclusion in the FTSE All Cap Index, and can see inflows of $11.1 million. – media report
 
·      Tata Consumers – Company announced its entry into the Ready to Drink Cold Coffee category with the launch of Tata Coffee Gold- Cold Brew.- positive.
 
·      Axis Bank - Private investment firm Bain Capital has sold partial stake in private lender Axis Bank via block deal on Thursday, while many domestic and foreign funds lapped up the shares.- we are positive on the stock.
 
·      Samvardhana Motherson - Samvardhana Motherson Automotive Systems, a subsidiary of Samvardhana Motherson International, through one of its European subsidiaries, has signed
·      a binding undertaking to acquire a 100% stake in Cirma Enterprise. – positive
 
·      Tech Mahindra - Tech Mahindra has appointed Mohit Joshi as the MD and CEO of the company with effect from 20 December 2023. The current CEO CP Gurnani is set to retire on December 19, 2023. - positive
 
·      Reliance Industries - Company is in talks with lenders for a foreign-currency loan of up to $2 billion to fuel the ongoing expansion of its oil-to-telecoms business.
 
·      Natco Pharma- Company has announced the successful closure of inspection and received Establishment Inspection Report (EIR) from the USFDA for its drug formulations manufacturing facility at Visakhapatnam (Vizag), Andhra Pradesh - positive
 
·      BHEL – Company and Volvo Eicher Commercial Vehicles Limited (VECVL) signed an MoU for taking up a "Joint project for development & deployment of Type - IV Cylinders (Hydrogen / CNG) in Commercial Vehicle Segment". – positive
 
·      Welspun Corp – Company has received the BIS license for 1200DN K7, K8 and K9. With this, the company have covered the full range of 80-1200DN for ISI marking. - positive
 
·      Zee Entrainment - The Securities Appellate Tribunal on Thursday declined to grant immediate relief to Essel group chairman Subhash Chandra and his son Punit Goenka against directions passed by the Securities and Exchange Board of India (Sebi) in an alleged fund diversion case – Expects volatile n the stock but long term positive.
 
·      Focus on Auto ancillary stocks - Foxconn is looking to start electric vehicle manufacturing in India, Economic Times reports. Foxconn in talks with some India’s local authorities about the
·      project – expects positive for Amara Raja Batteries, JBM Auto,
 
·      Godrej Properties – Company has emerged as the highest bidder to acquire 7.44-acre land parcel in Kolkata for development of a  luxury housing project, which has an estimated sales revenue potential of around Rs1,200cr – positive
 
·      Titagarh and BHEL – A consortium led by BHEL and Titagarh Rail bagged a contract worth Rs24000cr from Indian Railways for the manufacturing and supply of 80 fully assembled sleeper train sets for Vande Bharat Express by 2029 and their maintenance for 35 years - Positive
 
·      KIOCL Ltd – Company has announced that the operations of Pellet Plant Unit of the Company at Mangalore have been restarted today i.e., with effect from June 15, 2023.- positive
 
·      Panacea Biotec – Company announced the launch of its new range of high-quality pediatric food & nutritional products ChilRun, ChilRun Full, ChilRun No Sucrose, ChilRun 7+ in different flavours and sizes in India – positive
 
·      Cochin Shipyard – Company has won a Rs 580 crore order from Norway's Wilson Shipowning AS. Company to design and construct six 3800 DWT general cargo vessels, to be delivered from 2024 to 2026. Contract includes an option for 8 more vessels. - positive
 
·      FDC - US FDA Inspection at Company's manufacturing facility located at Roha, Raigad  and Receipt of Establishment Inspection Report (EIR) with No Action Indicated - positive
 
·      G R Infraprojects – Company has emerged as L‐1 bidder in Financial Bid Opening dated 15th June 2023 for the tender "Four laning of NH 530B from Kasganj Bypass End to Chandan in the State of Uttar Pradesh on HAM model, project worth Rs1085.5cr - positive.
 
·      Som Distillates - Market Share in Karnataka Witnesses Phenomenal Growth, Reaching a Historic 20.1% in May 2023. Karnataka, renowned for its dynamic market and discerning consumer base, presents a highly competitive landscape for beverage companies. – positive
 
·      KPI Green - Company have received Commissioning Certificates from Gujarat Energy Development Agency ('GEDA') for capacity of 3.40 MWdc solar power project – positive
 
·      Bliss GVS Pharma – Company had earlier announced that the US FDA conducted a Pre-Approval Inspection  and Good Manufacturing Practice (GMP) at the Company's manufacturing unit at Palghar. Pursuant to above inspection by the US FDA has now received the Establishment Inspection Report (EIR) indicating closure of the inspection through which the US FDA agency assigned the inspection classification of the facility as "Voluntary Action Indicated (VAI)". – Long term positive
 
·      PNB, LIC, SBI and BoB looking to seek formal bids for stake sale in UTI AMC - PNB, LIC, SBI, and Bank of Baroda, all owned by the Centre, are working on inviting bids for selling their stake in the UTI AMC – ET Report – we are positive on SBI, BoB and LIC
 
·      Wipro – Company opens new 5G DEF-1 innovation center in Austin Texas – Positive
 
·      Persistent Systems – Company opens new hub in Texas to expand presences in US - Positive
 
·      Dilip Buildcon - Company announced the completion of the NH5 section project. The project included rehabilitation and a six-lane highway upgradation of the Chandikhole-Bhadrak Section in Odisha worth Rs 522-crore project which carried out under a hybrid-annuity mode under the National Highways Development Project – positive
 
·      PTC India: PTC India named Mahendra Lodha as director (finance) and the chief financial officer of the company – positive
 
·      IndiaMART : The company approved the reappointment of Dhruv Prakash as director liable to retire by rotation. – positive
 
·      DCW: The company will produce lower soda ash by an estimated 6 KMT in the first quarter of fiscal 2023-2024 due to an unforeseen mechanical breakdown of the carbon dioxide gas compressor in its soda ash plant. – Any sharp decline will be buying opportunity
 
·      GAIL India – Sanjay Kumar assumes charge director of marketing - positive
 
·      HCL Tech -  Company and Microsoft expand collaboration to boost innovation and adoption of generative AI with Microsoft's Azure OpenAI Service – Positive
 
·      TVS Motor – Company sells entire stake in Emerald Haven Realty and the company plans to raise the prices of the iQube electric scooter in response to the revision of the Fame II subsidy. The revised prices will vary between Rs17,000 and Rs22,000, depending on the specific variant of the scooter. – positive
 
·      Laurus Lab – company got USFDA Establishment inspection report (EIR) its Visakhapatnam plant which was eairler inspected by the USFDA – Positive after got USFDA no objection  
 
·      Government cuts import duties on Refined Soybean and Sunflower Oils - The government reduced base import taxes on refined soybean and sunflower oils to 12.5%, from 17.5% - Expects positive for Marico, Patanjali Food and Godrej Agrovet
 
·      Trade Deficit Widens To $22.1 Billion In May - Trade deficit widened in May as exports fell at a faster rate than imports. The merchandise trade deficit widened to $22.1 billion in May, compared to $15.2 billion in April. Merchandise exports fell by 10.2% year-on-year to $35 billion in May 2023.Merchandise imports fell by 9.7% year-on-year to $57.1 billion in May– inline with expectation
 
·      MIC Electronics – Company receives LoA for order worth Rs. 5.13 crore from Southern Railway Zone for providing of Passenger Information System in connection with Amrit Bharat Scheme in Chinna Salem – positive
 
·      Pitti Engineering  - Company  announced a transaction that merges the supply chain, margins and revenue of group company Pitti Castings Private Limited (PCPL) which is engaged in the manufacturing of High-Quality Casting in Grey Iron, Ductile Iron, Low Carbon and Alloy Steel Grades – positive
 
 

Urban unemployment rate

Urban unemployment rate (Jan-Mar, 2023):
๐Ÿง‘‍๐Ÿญ๐Ÿง‘‍๐ŸŒพ๐Ÿ‘จ‍๐Ÿญ ๐Ÿ‡ฎ๐Ÿ‡ณ

Top
Himachal: 15.2%
CG: 12.5%
J&K: 12.4%
Rajasthan: 11.9%
Kerala: 9.7%
Punjab: 9.0%

Bottom
Gujarat: 3.0%
Delhi: 3.1%
West Bengal: 4.2%
Karnataka: 5.1%
Maharashtra: 6.1%

(PLFS)

Thursday, June 15, 2023

Derivatives update

*Derivatives update*

Good morning !!
Derivatives update for Thursday, 15th June 2023.

India VIX was up by 0.47% from 11.11 to 11.16 levels. Volatility was slightly high but overall lower levels have supported the bulls at higher zones.

Nifty *Put/Call Ratio* (OI) increased from 1.13 to 1.23 level. 

On option front, weekly maximum Call OI is at 18900 then 18800 strike while maximum Put OI is at 18700 then 18600 strike. Minor Call writing is seen at 18850 then 18900 strike while meaningful Put writing is seen at 18700 then 18750 strike.

*Option data suggests a broader trading range in between 18500 to 18900 zones while an immediate trading range in between 18650 to 18850 zones.*

For weekly Bank Nifty, Maximum Put OI is at 44000 then 42500 strike and maximum Call OI is placed at 44000 then 44200 strike. We have seen minor Call writing at 44000 and Put writing is witnessed at 44000 strike as well.

Bank Nifty Put Call Ratio decreased from 0.87 to 0.73. Implied volatility rose from 12.5 to 12.8 levels.

Bank Nifty (CMP 43,988)
Data setup for Bank Nifty suggests a trading range in between *43750/43900 to 44250/44500 zones.*

Looking ahead at the FII’s derivatives activity, there was long built up in index futures, call & put selling in index options and short built up in stock futures.

In the cash market, FIIs were net buyers to the tune of 1715 crores while DII’s were net sellers worth 655 crores. FIIs Index Long Short Ratio increased to 53.82%.

Derivatives data and price set up suggests, Nifty has to hold above 18676 zones to witness an up move towards 18888 and 19000 zones while on the downside support exists at 18676 and 18636 zones.

Bank Nifty has to hold above 44044 zones for an up move towards 44250 then 44500 zones while on the downside support is seen at 43900 then 43750 levels.

Thank you. Have a great trading day and weekly expiry ahead..!!

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

◆ Nifty index opened positive and after a slight decline in the initial tick, it regained strength and moved in the upward direction throughout the day. It touched intraday high of 18768 zones and closed with gains of around 40 points. Index remained afloat but has been moving in a lackluster way. It formed a Bullish candle on daily scale and bulls established a strong closing after days of lackluster move

◆ Now it has to hold above 18676 zones to witness an up move towards 18888 and 19000 zones while on the downside support exists at 18676 and 18636 zones

◆ India VIX was up by 0.47% from 11.11 to 11.16 levels. Volatility was slightly high but overall lower levels have supported the bulls at higher zones
 
◆ On option front, weekly maximum Call OI is at 18900 then 18800 strike while maximum Put OI is at 18700 then 18600 strike. Minor Call writing is seen at 18850 then 18900 strike while meaningful Put writing is seen at 18700 then 18750 strike. Option data suggests a broader trading range in between 18500 to 18900 zones while an immediate trading range in between 18650 to 18850 zones

◆ Bank Nifty opened on a positive note near 44200 zones but failed to hold its opening gains and drifted gradually towards 43950 zones. It remained consolidative in a narrow range of 100 points for most part of the session and closed below 44000 zones. It formed a Bearish candle on daily scale as it closed below its opening levels but index is holding above its crucial support of 20 DEMA. It has got stuck in range of 300 points from past few sessions and requires a decisive close above 44144 zones for any major momentum

◆ Now it has to hold above 44044 zones for an up move towards 44250 then 44500 zones while on the downside support is seen at 43900 then 43750 levels

◆ Bullish setup in Tataconsum, Oberoirlty, Zydus Life, Tatacomm, Grasim, HAL, IDFC First Bank, OFSS, Tatasteel, L&TFH, Jswsteel, MGL, Godrejprop, Ashokley, Tatamotors, Trent and Apollo Hospital

◆ Bearish setup in Bandhan Bank, Ipca Labs, Balram Chini, BHEL, MFSL and HDFC

Fed leaves interest rates UNCHANGED

1. Fed leaves interest rates UNCHANGED

2. Unanimous decision for rate action

3. Holding rates steady to "assess policy impact" 

4. Strong support for MORE rate HIKES this year

5. Fed sees inflation at 2.5% by end of 2024

For the first time in 15 months, the Fed did not raise rates.

STOCKS IN ACTION 15 JUNE

STOCKS IN ACTION 15 JUNE 

HCL Technologies: HCL Tech and Google Cloud have expanded partnership to support enterprises leverage generative artificial intelligence (AI) and develop joint solutions powered by Google Cloud’s generative AI technologies.

SJVN: Company signed a memorandum of understanding with Maharashtra State Power Generation Company to develop 5,000 MW renewable energy projects in the state. The partnership will explore the feasibility of establishing various renewable projects including hydro, pumped storage, wind, solar, hybrid and green hydrogen projects.

PTC India Financial Services: PTC India named Mahendra Lodha as director (finance) and the chief financial officer of the company with effect from June. 14, replacing current Chief Financial Officer Sanjay Rustagi

IndiaMART InterMESH: Company approved the re-appointment of Dhruv Prakash as director liable to retire by rotation.

Reliance Communications: Delegate of the Australian Securities and Investments Commission notified regarding the deregistration of Reliance Communications (Australia) PTY Ltd. with effect from June 4.

Dilip Buildcon: The company received completion certificate for rehabilitation and upgradation work of Chandikhole-Bhadrak section of NH-5 in Odisha on Hybrid Annuity mode. The project cost was Rs 1,522 crore. DBL Chandikhole Bhadrak Highways Ltd. is now a subsidiary of the company.

Dilip Buildcon: The company received completion certificate for rehabilitation and upgradation work of Chandikhole-Bhadrak section of NH-5 in Odisha on Hybrid Annuity mode. The project cost was Rs 1,522 crore. DBL Chandikhole Bhadrak Highways Ltd. is now a subsidiary of the company.

DCW: Company will produce lower Soda Ash by an estimate of 6 KMT in first quarter of fiscal 2023-2024 due to unforeseen mechanical breakdown of carbon dioxide gas compressor in its Soda Ash Plant.

Persistent Systems: Company further strengthened its strategic relationship with Zscaler and achieved Zenith partnership tier to assist in strengthening and modernizing security.

Tega Industries: NCLT approves corporate restructuring of promoter group companies

Axis Bank: Bain Capital To Sell Stake Up To $267m In Axis Bank At An Offer Price Range Of Rs 964 - 977.70/Share Offer Price Range For Axis Bank Block Deal At 0-1.4% Discount To CMP - CNBCTV18, Citing Sources

Remedium Lifecare: Board Meeting On June 23 To Consider Increasing Borrowing Limit From 500m Rupees To 10b Rupees By Issuance Of Debt Securities To Consider Limit For Investment Via Acquisition Of Asset Upto 10b Rupees

KRBL:Successfully Commenced Commercial Production At Its New Plant At Anjar, Gujarat

Jindal Steel And Power: Approved Restructuring Of Balance Sheet Of Jindal Steel & Power (Mauritius) Ltd, Mauritius || Restructuring Will Not Have Any Impact On Income Statement Of Jindal Steel & Power

Wednesday, June 14, 2023

Securities in Ban

Securities in Ban For Trade Date 14 - JUNE -2023 - 1. BHEL, 2. DELTACORP, 3. IBULHSGFIN, 4.IEX, 5. INDIACEM, 6. MANAPPURAM (Source - nseindia.com)

News and Impact

News and Impact
 
 
·      Expects market to open on a positive note after the US May Inflation fell to lowest level since March 2021 at 4.1%, US core inflation decline to15-month low, domestic inflation nosedived to 25-month low and China’s central bank surprised with cut in reverse repurchase rate by 10 basis along with to consider stimulus, above these factors will boost the market sentiment. Expectation of US Federal Reserve policymakers are poised to pause their hiking of interest rates for the first time in 15 months after cooling US Inflation print. However, US Fed commentary will be important for the global market sentiment. US Dollar Index fell to 1-month low to below 103 while US 10-Year and 2-year Bond spiked to 2-month high ahead of policy outcome today. US Vix (Volatility Index) decline by 3% to below 15, indicating a positive sentiment in the US market. Overnight, US market gained up to 1% to close 14-month as market well come cooling down US Inflation. Japan market is up 1% to decade high.  SGX Nifty is up quarter percent or 45 points. FIIs turned into strong net buyers over Rs1500cr yesterday and hope of good monsoon will be positive for the market sentiment. Expect rally to continue and Index just half percent away from the record high. Technically, Nifty and Bank Nifty formed a Bullish candle on daily scale and bulls established a strong closing. Yesterday, Sensex climbed over 400 points to close 7-month high led by realty, banking, capital goods and metal stock. Expects positive for realty stocks due to strong demand and stable interest rate. Metal momentum may continue after China rate cut and to consider stimulus and US Metal Index gained 4%. IT stocks may be positive on account of attractive valuation and global IT major Index Nasdaq Composite surged to 14-month high.
 
·      US Market   – US stocks reached their highest closes in 14 months after data showed that consumer prices rose modestly in May at 24-month low at 4% , boosting bets that the Federal Reserve will not raise interest rates at the end of its two-day policy meeting this week. Dow Jones gained nearly half percent and Nasdaq Composite advance nearly 1%. US May CPI reported at 4% while expectation was 4.1%, previous month was 4.93%. Core services inflation excluding housing, receded to the slowest pace in 15 months at 5.3% while previous month was 5.50%
 
·      Global market summary – US Dollar Index fell to 1-month low to below 103, US 10-Year and 2-year Bond spiked to 2-month high at 3.8% and 4.65% yesterday ahead of policy outcome today. US Vix (Volatility Index) decline 3% to below 15. Japan Market surged to 3 decade high. China’s central bank surprised with cut in reverse repurchase rate by 10 basis points to 1.9. It was the first reduction in the rate since August 2022.
 
·      Asian Market –An index of Asian equities rose for a fourth day amid bets for supportive monetary policy from central banks in China and Japan and a pause in interest rate hikes from the Federal Reserve. Japan’s Topix rallied almost 1% early opening as it extended its three-decade high. Australia and South Korea Index modest gain.
 
·      European Market - European stocks advanced the most in more than a week after data showed that US consumer price inflation slowed in May, bolstering market expectations for the Federal Reserve to pause its aggressive rate-hiking campaign this week. UK, Germany and France Index gained over half percent each.
 
·      Oil –  Brent Crude surged 3% to $74/bbl on account of tight supply by Saudi Arabia’s latest oil production cuts and OPEC) on Tuesday further raised its forecast for the growth in China's oil demand in 2023 due to "better-than-expected performance in China's economy,".
 
·      Gold – Gold prices moved lower BY 1% to $1947/ounce on Tuesday, shaking off early gains after data showed a modest monthly increase in U.S. consumer prices and bond yields pushed higher as traders awaited Wednesday's Federal Reserve's policy announcement.
 
·      Previous Day market Update-  Sensex climbed over 400 points to close 7-month high and is just half percent lower than the record high led by realty, banking, capital goods and metal stocks. There was rally for the second straight session on improved sentiment after data showed domestic retail inflation cooled off to a 25 month low in May, while investors await US inflation data and Federal Reserve's rate decision. Moreover, fall in oil price and hope of good monsoon also boosted sentiments. Global markets joined hands with domestic market after China’s central bank surprised with cut in reverse repurchase rate by 10 basis points to 1.9. It was the first reduction in the rate since August 2022. Moreover, China government is considering a broad package of stimulus measures to boost the economy, including property support.  Both Asian and European market gained half to one percent today. Sensex jumps 418 points 0.7% to settle at 63,143. Nifty climbs 115 points or 0.6% to close at 18,716, just 100 points lower than the record closing of 18812. FIIs were net buyers Rs1678cr while DIIs were net sellers Rs203cr .
 
·      Nifty Technical Levels - Nifty formed a Bullish candle on daily scale and bulls established a strong closing after days of lackluster move. Now it has to hold above 18676 zones to witness an up move towards 18777 and 18888 zones while on the downside support exists at 18636 and 18550 zones.
·      Bank Nifty Technical Levels – Bank Nifty formed a Bullish candle on daily scale and negated the formation of lower highs after three trading sessions. Overall buying is visible at lower zones and index is holding above its crucial support of 20 DEMA. Now it has to hold above 44044 zones for an up move towards 44250 then 44500 zones while on the downside support is seen at 43900 then 43750 levels.
 
·      Actionable BUY – IDFC First Bank, Sobha, Tata Steel, NHPC, PVR, Axis Bank, Hindalco
 
·      Brokers Radar – JP Morgan on IT sectors – LTIMindtree TGT at 3850, TECH Mahindra TGT at 950, Tech Mahindra TGT at 2900 and Tata Elxsi TGT at 4600.
·      Events – WPI Data, Cabinet meeting at 10.30am
 
·      Corporate Action  - Tata Chemical ex-dividend Rs12.30, Diamines Rs3, Jindal Saw Rs3, Canara Bank Rs12, TCS Rs15,
 
·      Global Data – PPI (Producer Price Index), Mortgage Applifcation, FOMC Interest rate decision. (US). Monhly GDP, Manufaturing Production, Construction Output and IIP (UK).
 
·      Market Summary – Anupam Rasayan wins large overseas order, Vi revival plan led by Rs 14,000 crore equity infusion, Sajjan Jindal Seeks as Much as 48% Stake in MG Motor India: ET, Keytrade Bank selects Infosys Finacle suite for core banking transformation, Zee board to review Sebi order on Subhash Chandra and CEO Punit Goenka, Oracle Pushes to Record High as AI-Frenzy Spurs Cloud Demand, Patanjali Foods aims Rs 5K cr profit at EBIDTA level.
 
·      Nazara Tech - Societe General has bought about 4 lakh shares in Nazara Technologies through bulk deals on Tuesday – positive
 
·      Tata Chemicals – Media report that the company cut soda ash price by Rs2300 a ton. Company followed Nirma with downward revision of Soda Ash prices. News – Price cut by Nirma amy short term negative but buying opportunity at lower levels.
 
·      JSW Steel and JSW Energy -  A private company owned by Sajjan Jindal is seeking the stake, the Economic Times reported. Jindal is likely to own 45-48% of MG Motor India, with dealers
·      and Indian employees owning 5-8% - long term positive.
 
·      Vodafone Idea  - Company proposes to infuse a total equity of ₹14,000 crore in the near term as part of its business revival plan, said people with knowledge of ongoing discussions. This will see existing promoters Aditya Birla Group (ABG) and UK's Vodafone Group Plc infuse half the overall amount, they said. – news is positive but poor balance sheet is a concern.
 
·      Anupam Rasayan - Anupam Rasayan has signed a letter of intent (LoI) worth $265 million (Rs2,186 crore) for next 5 years with one of the leading Japanese speciality chemical companies to supply new age patented life science active ingredient. - positive
 
·      LTI Mindtree - LTIMindtree announced that it has joined the Microsoft Intelligent Security Association (MISA).- positive
 
·      ZEE Entertainment - Plutus Wealth Management has about 75 lakh shares in ZEE Entertainment through open market transactions on Tuesday. – expects volatile on the stock
 
·      IndiGo - IndiGo has clarified that the company has not received any information with respect to co-founder's intention to sell stake.- positive
 
·      Balkrishna Industries: The company said it will suspend operations at the Bhuj plant from the late evening of June 13, 2023, due to Cyclone Biparjoy. It will halt operations for three to four days. – Any decline will be buying oppotunity
 
·      Kotak Mahindra Bank: Lender to meet on June 16 to consider raising funds by issuing non-convertible debentures or bonds in one or more tranches on a private placement basis during fiscal 2023–2024.- positive
 
·      NHPC - State-run hydropower company NHPC Ltd. will start trial runs in July for the Subansiri Lower project that runs through the states of Assam and Arunchal Pradesh in the country’s north-east.- Positive
 
·      PVR – Focus on PVR-Inox after the news that there was good response new movie – Adipurush. Media report that the Adipurush tickets sold at Delhi for Rs2000
 
·      Infosys – Infosys Finacle, a wholly-owned subsidiary of Infosys, and Belgium’s Keytrade Bank on Tuesday announced the bank’s decision to select Infosys Finacle as the preferred partner for the modernisation of its core banking system – Positive
 
·      Zee board to review Sebi order on Subhash Chandra and CEO Punit Goenka -  A day after market regulator Sebi barred Zee promoters Subhash Chandra and CEO Punit Goenka from holding key positions, Zee Entertainment Chairman R Gopalan said the board was reviewing the order. "The Board is currently in the process of reviewing the detailed order, and appropriate legal advice is being sought in order to take the next steps as required – long term positive
 
·      Auto Wholesale Data In May (YoY) -  Total auto sales rise 18% YoY to 18,08,686 units in May. Passenger vehicle sales rose 13.5% to 3.34 lakh units. Passenger car sales declined 2.97% to 1.2 lakh units. SUV sales rose 33.5% to 1.55 lakh units. Two-wheeler sales jump 17.4% to 14.71 lakh units. Motorcycle sales up 20.6% to 9.89 lakh units. Scooter sales grew 12.2% to 4.46 lakh units. Three-wheeler sales grew 70.4% to 48,732 units. – Positive on Maruti, Tata Motor, M&M, TVS Motor
 
·      Cummins India – Company had received various CPCB IV+ compliance certifications from the Automotive Research Association of India (ARAI) to provide its customers with various CPCB IV+ emission norms compliant gensets, effective July 1, 2023 – Long term positive
 
·      Patanjali Food – Company has chalked out an aggressive growth plan to reach Rs 5,000 crore operational profit and over Rs 50,000 crore turnover in the next five years, banking on huge opportunity that it sees in FMCG business and oil palm plantations. – Long term positive
 
·      Granules India – Company announced that the US FDA has approved its Abbreviated New Drug Application (ANDA) for Metoprolol Succinate Extended-Release Tablets. Metoprolol Succinate ER Tablets are indicated for the treatment of hypertension in order to lower blood pressure. The current annual U.S. market for Metoprolol Succinate ER Tablets is approximately $321mn – positive
 
·      Oracle Finance - Oracle Corp. gave investors a boost by saying the company’s cloud-computing business will continue to grow rapidly in the coming fiscal year after a strong performance in the past quarter. Shares, which had jumped to a record high at the close. Cloud sales gained 54% in the fiscal fourth quarter to $4.4 billion, after a 45% jump in the previous period. In the fiscal year ending May 2024, cloud revenue should increase at least as much as in the year that just ended, Chief Executive Officer Safra Catz said on a conference call after the results – stock gained 7% yesterday.
 
·      Sprayking Agro Equipment- Company received New Purchase order worth Rs60cr approx. - positive
 
·      L&T – Company wins significant hydrocarbon order – positive
 
·      L&T's - L&T Energy Hydrocarbon, bagged a "significant" contract from an overseas client for a new offshore project. The company did not provide financial details of the contract, but it classifies "significant" contracts as those between Rs1000cr –Rs2500cr - positive
 
·      Alan Scott – Company’s board approves 1:1 rights issue at Rs30 a share (CMP 60) - Avoid
 
·      HFCL wins Rs80.9cr from Delhi Metro Corp – positive 
 
·      Signet Industries Company bagged Rs 120 crore order from various EPC contractors. These order are for pipes in water supply project in state of Madhya Pradesh, Uttar Pradesh, Orissa, Rajasthan, Maharashtra. – positive
 
·      Inox Wind Energy: The company will merge with parent Inox Wind via a share swap. For every 10 shares of Inox Wind Energy, 158 equity shares of Inox Wind will be issued. For every 10 share warrants of Inox Wind Energy with an issue price of Rs 847 each, 158 share warrants of Inox Wind – positive
 
·      Tejas Networks: The company deployed its TJ1400 family of carrier-class fibre-to-the-x and packet switching network solutions to deliver high-speed fibre connectivity services to businesses across the country for Tata Tele Business Services.
 
·      Greaves Cotton: The company’s e-mobility business Greaves Electric Mobility has entered into an agreement with non-banking finance firm Bike Bazaar Finance to finance vehicles – Long term positive
 
·      Zydus Life – Company gets final approval from US FDA for Varenicine tablets – positive 
 
·      Focus on Metal stocks After China Central Bank Surprises With Rate Cut to Spur Economy and to consider stimulus - Expects positive for metal stocks after the China’s central bank surprised most economists and market participants by cutting a short-term policy interest rate and are stepping up stimulus to boost the recovery. The People’s Bank of China lowered the seven-day reverse repurchase rate by 10 basis points to 1.9. It was the first reduction in the rate since August 2022. China is considering a broad package of stimulus measures to boost the economy, including property support. Expects positive for metal stocks - . We are positive on Hindalco, Tata Steel, Nalco, Jindal Steel
 
 

From Advisory Desk 14th June 2023

From Advisory Desk 14th June 2023
 
Market Outlook: The S&P500 and Nasdaq indices surged to a new 52 week-high after the data showed inflation slowing to a more than two year low, raising optimism among market participants that the FED may be inclined to temporarily halt their course of interest rates tonight. Asian markets have started on a flat to positive note, with SGX Nifty indicating a slightly positive opening. Yesterday, domestic benchmark indices witnessed a strong positive momentum after days of lacklustre move and closed just 1% away from an all-time high. In the last few sessions, mid and small-cap counters have continued to show good strength, and we expect this trend to continue. Overall, we remain positive and expect market momentum to persist.

Actionable: Buy DLF, Axis bank, Titan.

Delivery Ideas: Buy Bata India, Real Estate basket (Real estate stocks are experiencing good momentum, and one can consider buying them).

Global market:

DOW:  + 145
SGX NIFTY:   + 40   (prev.close 18785)
NIFTY 50 : 18716
Sensex : 63143


Institution:

FII:                +   1678     Cr
DII:                -    203       Cr

NSE:

Advances:  2117  / Declines:  1469

Currency:

Dollar: $ 82.37
Dollar Index: 103.25


Commodity:

Gold: $ 1960  per ounce
Crude: $ 74.05  per barrel

 
Bonds:

10 year US bond rate: 3.80
10 year Indian Bond rate: 7.00

Derivative:

PCR: 0.95
VIX:  11.11

Updates:

Tata Chemicals - After Nirma slashed its prices by Rs.2000 MT, Tata Chemicals followed with a higher cut of Soda Ash prices by Rs.2,300 per metric tonne.

Zydus Lifesciences - USFDA inspection at injectables manufacturing facility at Zydus Biotech Park in Changodar concluded with nil observations. USFDA inspection happened at the facility from Jun. 5 to Jun. 13.
 
KEC International - The company has bagged new orders worth Rs.1,373 crore across its railways, civil, transmission and distribution, cables businesses.
 
Anupam Rasayan - Company has signed a letter of intent worth $265 million (Rs.2,186 crore) for next 5 years with one of the leading Japanese speciality chemical companies to supply new age patented life science active ingredient.
 
Campus footwear/Relaxo footwear/Metro brands - As per reports, Toys, leather and new age e-bikes will be added to the production Linked incentive (PLI) scheme that currently covers 14 sectors. These new sectors will be within the Rs.1.97-lakh-crore PLI allocation made three years ago when it was launched.
 
Securities in ban: BHEL, DELTACORP, IBULHSGFIN, IEX, INDIACEM, MANAPPURAM FINANCE.
 
Derivative View: On option front, weekly maximum Call OI is at 18900 then 18700 strike while Maximum Put OI is at 18700 then 18600 strike. Option data suggests an immediate trading range in between 18600 to 18800 zones.

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

◆ Nifty index opened positive and witnessed a stellar move in the first tick which was followed by some consolidative move and remained in the positive territory. It touched intraday high of 18728 zones and closed with gains of around 110 points. It formed a Bullish candle on daily scale and bulls established a strong closing after days of lackluster move

◆ Now it has to hold above 18676 zones to witness an up move towards 18777 and 18888 zones while on the downside support exists at 18636 and 18550 zones

◆ India VIX was down by 1.16% from 11.24 to 11.11 levels. Volatility cooled off today which comforted the bulls at higher zones
 
◆ On option front, weekly maximum Call OI is at 18900 then 18700 strike while maximum Put OI is at 18700 then 18600 strike. Minor Call writing is seen at 18900 then 18800 strike while meaningful Put writing is seen at 18700 then 18650 strike. Option data suggests a broader trading range in between 18500 to 18900 zones while an immediate trading range in between 18600 to 18800 zones

◆ Bank Nifty managed to hold its previous day’s low and gradually moved higher towards 44120 marks in the initial hour of the session. Later it remained consolidative in a narrow range of 150 points while good spurt of 100 points was seen in the last hour of the day. It formed a Bullish candle on daily scale and negated the formation of lower highs after three trading sessions. Overall buying is visible at lower zones and index is holding above its crucial support of 20 DEMA

◆ Now it has to hold above 44044 zones for an up move towards 44250 then 44500 zones while on the downside support is seen at 43900 then 43750 levels

◆ Bullish setup in Tatacomm, OFSS, Trent, Dixon, ABB, Berger Paint, Cumminsind, Godrejprop, DLF, Auropharma, IDFC First Bank, IDFC, BEL, Cholafin, Asian Paint, Siemens, Titan, LTTS, MuthootFin, ITC, Mcdowell, Bata India, Poly Cab, Naukri, Colpal, Dabur, Axis Bank and Ultracemco

◆ Bearish setup in Concor, Kotak Bank, Maruti, SBIN and Wipro

Market Indication

Market Indication:
Global: FLAT to POSITIVE

NIFTY: FLAT to POSITIVE

BANKNIFTY:  FLAT to POSITIVE

BULK Deals: Zee Entertainment Enterprises, Bajaj Electricals etc.

Stocks In F&O Ban Period: BHEL, Manappuram Finance, Delta Corp, Indian Energy Exchange, India Cements and Indiabulls Housing Finance

Results Today: Nil

SGX NIFTY:  (Positive)

18837     +52.00    +0.28%

STOCKS IN ACTION 14 JUNE

STOCKS IN ACTION 14 JUNE 

Balkrishna Industries: The company said it will suspend operations at the Bhuj plant from the late evening of June 13, 2023, due to Cyclone Biparjoy. It will halt operations for three to four days.

Kotak Mahindra Bank: Lender to meet on June 16 to consider raising funds by issuing non-convertible debentures or bonds in one or more tranches on a private placement basis during fiscal 2023–2024.

Zydus Lifesciences: The company said the U.S. FDA inspection at the injectables manufacturing facility at Zydus Biotech Park in Changodar concluded with nil observations. The U.S. drug regulator conducted a current good manufacturing practices inspection at the facility from June 5 to June 13.

Anupam Rasayan India: The company signed a letter of intent worth $256 million (Rs 2,186 crore) for the next five years with a leading Japanese specialty chemical company. It will supply a new-age patented life science active ingredient starting in the calendar year 2025. The product will be in the validation phase for the next eighteen months.

GAIL (India): The Ministry of Petroleum and Natural Gas has nominated Executive Director (Marketing) Sanjay Kumar as a director (marketing) on the board of the company. Presently, he is the Managing Director of Indraprastha Gas Ltd. (IGL), the largest CNG distribution company in India.

LTIMindtree: The company said it has joined the Microsoft Intelligent Security Association, which is an ecosystem of independent software vendors and managed security service providers. This collaboration will allow the company to enhance its MDR platform and help enterprises prevent, detect, and respond to cyberattacks.

Brookfield India Real Estate Trust REIT: The company agreed to raise funds through an institutional placement of units not exceeding Rs 3,500 crore in one or more tranches. It approved the acquisition of Candor Techspace G1, owned by Candor Gurgaon One Realty Projects, and the acquisition of Mountainstar India Office Parks. It agreed to acquire Powai, owned by Kairos Property Managers.

LIC Housing Finance: The company’s Chief Operating Officer and Whole-Time Director, Ashwani Ghai, has resigned with effect from June 13. 

Archean Chemical Industries: The company decided to temporarily suspend operations at its plant in Hajipir, Gujarat, starting June 14

KEC International: The company secured new orders worth Rs 1,373 crore across its railways, civil, transmission and distribution, and cables businesses.

Zomato: The company’s unit, Zomato Australia Pty Ltd., has been deregistered with effect from June 11, 2023.

Fiem Industries: The company said that a fire broke out around noon in one building of Unit 7 in the Sonipat plant. There was no loss or injury to human life, but some buildings, plant and machinery, stocks, and furniture were damaged.

3I INFOTECH: Arm NuRe FutureTech Signs MoU With SRM Valliammai Eng College, Chennai
MoU Aims At Establishing An AI Lab Within The Institute’s Campus

Tata Chemicals: Follows Nirma With Downward Revision In Sodaash Prices By Rs 2,300/ Tonne

Shriram Pistons & Rings: Approved Bonus Issue Of Equity Shares In Proportion Of 1:1

Oil India: Says Fire Incident In Hydrocracker Unit Of Numaligarh Refinery Is Covered Under Insurance || NRL Is Yet To Quantify Fire Damage LossZ

Adani Enterprises: Adani Group Is In Talks With Lenders, To Refinance Up To $3.8b Of A Loan Facility Taken For Its Acquisition Of Ambuja Cements Ltd

Tuesday, June 13, 2023

Securities in Ban

Securities in Ban For Trade Date 13 - JUNE -2023 - 1. DELTACORP, 2. IBULHSGFIN, 3.IEX, 4. INDIACEM (Source - nseindia.com)

Market Indication

Market Indication:
Global: FLAT to POSITIVE

NIFTY: FLAT to POSITIVE

BANKNIFTY:  FLAT to POSITIVE

BULK Deals: Usha Martin, Go Fashion India etc.

Stocks In F&O Ban Period: Delta Corp, Indian Energy Exchange, India Cements and Indiabulls Housing Finance

Results Today: Nil

SGX NIFTY:  (Positive)

18757     +59.00    +0.32%

Monday, June 12, 2023

INDIA CPI

INDIA CPI (YOY) (MAY) ACTUAL: 4.25% VS 4.70% PREVIOUS; EST 4.31%

INDIA INDUSTRIAL PRODUCTION (YOY) (APR) ACTUAL: 4.2% VS 1.1% PREVIOUS; EST 1.4%

INDIA MANUFACTURING OUTPUT (MOM) (APR) ACTUAL: 4.9% VS 0.5% PREVIOUS; EST 1.6%

BUY BANK NIFTY 44000 CE

BUY BANK NIFTY 44000 CE @ 225 - 230, SL 180, TGT 250-300-325++

BUY KAYNES

BUY KAYNES @ 1510-25, SL 1490, TGT 1600-1793

BUY ASTRAL CAll

BUY ASTRAL 1900 CALL @ 106-114, SL 90, TGT 128, 164, 225+

Bank Nifty opened

Bank Nifty opened on a flattish note but extended its move towards 44200 zones in the initial hour. However it failed to hold 44144 and remained consolidative in a range of 250 points between 43950 to 44200 zones in the latter part of Friday. 

Long liquidation was seen as OI was down (-0.72%) and Price was down (-0.07%). Last week on week (Thursday close to Thursday) OI change comes to 11.8% with price change by 0.5%

FIIs Long Short Ratio decreased to 46.09%

Bank Nifty Put Call Ratio remained unchanged 0.77 

SGX Nifty June OI 196,440 contracts. (-1.05%)

SGX indicates a positive start and Dow closed positive.
*Important support level : 43500*
*Important resistance level : 44500*
*Broader trading range : 43500/43750 to 44250/44500 zones*

Derivatives update

*Derivatives update*

Good morning !!
Derivatives update for Monday, 12th June 2023.

India VIX was down by 1.22% from 11.25 to 11.12 levels. Volatility has been sinking from the last four weeks and has dried up which is creating swings within a smaller range in the index.

Nifty *Put/Call Ratio* (OI) decreased from 1.06 to 0.84 level. 

On option front, weekly maximum Call OI is at 18700 then 18800 strike while maximum Put OI is at 18600 then 18500 strike. Call writing is seen at 18600 then 18700 strike while Put writing is seen at 18600 then 18500 strike.

*Option data suggests a broader trading range in between 18400 to 18900 zones while an immediate trading range in between 18450 to 18750 zones.*

For weekly Bank Nifty, Maximum Put OI is at 44000 then 42500 strike and maximum Call OI is placed at 44000 then 46000 strike. We have seen Call writing 44000 and Put writing is witnessed at 42500 strike as well.

Bank Nifty Put Call Ratio remained unchanged at 0.77. Implied volatility fell from 13.3 to 12.2 levels.

Bank Nifty (CMP 43,989)
Data setup for Bank Nifty suggests a trading range in between *43500/43750 to 44250/44500 zones.*

Looking ahead at the FII’s derivatives activity, there was long liquidation in index futures, call selling & put buying in index options and short built up in stock futures.

In the cash market, FIIs were net sellers to the tune of 309 crores while DII’s were net buyers worth 1246 crores. FIIs Index Long Short Ratio decreased to 46.09%.

Derivatives data and price set up suggests, till Nifty holds below 18676, some weakness could be seen towards 18442 and 18350 zones while hurdles are placed at 18676 and 18777 zones.

Bank Nifty has cross and hold above 44044 zones for an up move towards 44250 then 44500 zones while on the downside support is seen at 43750 then 43500 levels.

Thank you. Have a great trading day and week ahead..!!

SGX Nifty: 18670

SGX Nifty: 18670
Advisory: Market Pre-opening
Advisory: Support / Resistance : Intraday

Nifty Futures :
S1 - 18570 S2 - 18480
R1 - 18735 R2 - 18830

BankNifty Futures :
S1 - 43900 S2 - 43500
R1 - 44350 R2 - 44750

Nifty Highest Open Interest (15th Jun Weekly expiry) : Call:18700 / Put : 18000

BUY HBL POWER

BUY HBL POWER @ 142-144, SL 138, TGT 148, 154, 160, 168

Short Term Cash

*Short Term Cash*: 
We recommend you to Buy CHEMPLASTS @ 478.00-480.00 SL 457 TGT 516

News and Impact

News and Impact
 
 
·      Expects market to open on a positive note on account of strong opening in the Asian markets, US market hit fresh 2023 high and hope of US Fed to pause hike in interest rate will boost the market sentiment. SGX Nifty is up nearly half percent of 75 points. Expects range-bound market in the next few sessions on ahead of key US Federal Reserve interest rate decision to be announce on Wednesday and Inflation data to be announce tomorrow (Tuesday). Moreover, domestic CPI (Inflation) and IIP data to be release in the post market today.  Market likely to be in wait and watch mode until the important economy data outcome this week. ECB and Bank of Japan policy meeting, China IIP and Housing data to be release this week. On Friday, US market gained upto half percent ahead of the US Federal Reserve policy meeting to be announce this next week. US Dollar Index fell to 1-month low while US 10-Year and 2-year bond Yield spiked to 1-month high ahead of US Fed commentary and interest rate outcome. Positive factor the India Vix fell to record low at below 12, indicating a stable domestic market. Better than expected PMI data, stable inflation, both DIIs and FIIs buying interest, hope of good monoon and favourable government policy will be positive for the market sentiment. Expects rally on mid-cap and small cap stocks to continue – focus on tyre, capital goods, cement and defence stocks due to impressive quarterly results, strong order book. Metal stocks may be positive on account of increased LME price and hope of rising China demand after the government announced stimulus. Auto stocks may be positive after announced strong monthly sales data.
 
·      US Market   –Wall Street’s benchmark S&P 500 index inched higher on Friday in subdued trading, as traders largely stayed on the sidelines ahead of the US Federal Reserve policy meeting next week. Both Dow Jones and Nasdaq Composite gained 0.2% and 0.5% respectively.
 
·      Global market summary – Both Nasdaq and S&P 500  hit fresh 2023 high. US 2-Year and 10-year bond yield surged to 1-month high. US Dollar Index fell to 1-month low
 
·      Asian Market – Asian stocks and US equity futures made small gains while major currencies traded in narrow ranges in cautious trading early Monday as investors await interest rate decisions this week from the US, Europe, China and Japan. Japan, Australia and Taiwan Index gained half percent each.
 
·      European Market -  European markets close in the red Friday ahead of potential European Central Bank and US Federal Reserve rate hikes next week.. UK Index slipped 0.5% while  Germany and France Index declined gained 0.2% each
 
·      Oil –  Oil declined 2% to below $75/bbl as demand concerns continue to dominate market sentiment even after Saudi Arabia’s unilateral pledge to cut production. Goldman Sachs Group Inc. cut its price forecast again.(media report)
 
·      Gold –Gold edged marginally lower at $1956/ounce before a Federal Reserve meeting this week at which policymakers are expected to pause interest-rate increases to take stock of banking sector strains.
 
·      Previous Day market Update –.Equity benchmark index fell nearly half percent for the second consecutive days  as traders booked profit ahead of US Fed rate decision to be announce next week. Investors sold at higher level after witness a rally of over 7% in the last two months. while the RBI on Thursday extended its rate pause but underlined its inflation focus, denting hopes of any policy easing soon. Select mid-cap, stock specific action and cement stocks recorded smart gain. Among the global markets, Asian markets recorded smart gained while European markets are witnessing mixed bag as investors look toward key upcoming central bank decisions. A jump in US jobless claims to the highest since October 2021 helped to boost bets the Federal Reserve may hold rates at its meeting next week. Sensex ended 223 points or 0.40% lower to settle at 60,625 and Nifty dropped 71 points or 0.40% to end at 18,563. Among Nifty pack, Tata Steel, SBI, HUL, HCL Tech, Infosys, and Asian Paints closed with losses, while IndusInd Bank, Axis Bank, Power Grid, L&T, UltraTech Cement, and Tata Motors closed with gains. Nifty PSU Bank, IT and FMCG Index declined by 1% each.  FIIs were net sellers Rs309cr while DIIs were net buyers Rs1245cr previous day.
 
·      Nifty Technical Levels – Nifty formed a small bodied Bearish candle on weekly frame with long upper shadow but has been making higher highs from the last eleven weeks. Now till it holds below 18676, some weakness could be seen towards 18442 and 18350 zones while hurdles are placed at 18676 and 18777 zones.
 
·      Bank Nifty Technical Levels – Bank Nifty formed a small bodied candle on daily scale but holding well above its crucial 20DEMA and closed near 44000 marks. On weekly scale, it has formed a small bodied candle as well but structure of higher highs - higher lows is intact from the last eleven weeks. Now it has cross and hold above 44044 zones for an up move towards 44250 then 44500 zones while on the downside support is seen at 43750 then 43500 levels.
 
·      Actionable BUY – Sona Com, BHEL, Tata Motor, HAL, Mazagoan Dock,
 
·      Brokers Radar – Dr Reddy TGT by Morgan Stanley at 5171 and Morgan Stanley TGT on Zydus Life at 646. Metropolis TGT by Morgan Stanley at 350, Citi TGT on Tata Motor at 635. Macquarie TGT on Tata Motor at 624. UPL TGT by HSBC at 850, PI Industries TGT by HSBC at 4000. Nomura TGT on JSW Steel at 605. KEC International TGT Nomura at 598.
 
·      Events – CPI and IIP data. Go-Fashion block deal.  GHCL de-merger unit its textiles division to be listed today.
 
·      Corporate Action  - Apcotex Industries AGM and Dividend Rs3.50, ICICI Lombard Rs5.50, Cyient Rs16. Reliance Industrial Infra Rs5.50, Tata Investment – AGM and ex-dividend Rs48, ION Exchange stock split from Rs10 to Re1
 
·      Global Data – Monthly Budget (US), Economic Survey (UK).
 
·      Market Summary – VLCC Health Care to acquire D2C men's grooming brand Ustraa for Rs 61 crore, Cochin Shipyard bags order. General Electric Nears Jet Engine Co-Manufacturing Deal with HAL, Mahanagar Gas to set up compressed biogas plant in Mumbai, SBI board approves raising Rs 50,000 crore via bonds, Indoco’s Baddi Facility Receives EUGMP Certification.
 
·      Go Fashion: According to reports, Sequoia Capital plans to sell its stake in Go Fashion, the parent company of Indian clothing brand Go Colors, through a block deal. The stake being sold amounts to up to 10.18%. The report revealed that the floor price for this stake sale is set at ₹1,135 per share, representing a 5% discount compared to the last closing price – Buying opportunity.
 
·      InfoEdge - VLCC Health Care will acquire Happily Unmarried Marketing which runs the D2C men’s grooming brand Ustraa via a mix of cash and share swap for Rs 61 crore – Positive for InfoEdge due to Happily Unmarried is a subsidiary on InfosEdge.
 
·      Mahanagar Gas - Company will set up a compressed biogas (CBG) plant in Mumbai in collaboration with the Brihanmumbai Municipal Corporation (BMC). The CBG plant, with a capacity to process up to 1,000 tpd – positive
 
·      HAL - General Electric Co is reportedly in final talks with Hindustan Aeronautics regarding a partnership for co-manufacturing jet engines in India. The deal is expected to be inked either before or during a visit by Indian Prime Minister Narendra Modi to Washington, D.C., later this
·      month, CNBC reported. – Positive
 
·      TVS Motors: TVS Credit Services Limited, the captive financing arm of TVS Motor Company, on Friday, said it has raised Rs. 480 crores from Premji Invest, a prominent investment firm. Through a combination of primary and secondary investments, Premji Invest will acquire a 9.7% equity stake in TVS Credit for Rs. 737 crores, the company said - positive
 
·      Allcargo Logistics: Company has completed the acquisition of 1.50 lakh shares, or 30 per cent stake, in Gati-Kintetsu Express (GKEPL) for ₹406.71 crore Allcargo’s subsidiary, Gati already holds 70% stake in GKEPL.- positive
 
·      SBI: Company said its board has approved a proposal to raise up to ₹50,000 crore this fiscal year through various debt instruments. - positive
 
·      KEI Industries – Credit Research firm India Ratings & Research retained its AA rating on Kei Industries'long-term bank facilities and A1+ rating on the electric wires company's short-term bank financing. The rating outlook was revised to positive from stable. – Positive
 
·      Greenlam Industries – Company announced the opening of a new plant in Tindivanam, Tamil Nadu. The company has spent Rs 130 crore till commencement of the commercial production.- positive
 
·      Macrotech Developers – Rating agency ICRA upgraded its rating on the company from 'stable' to 'positive'. The credit rating agency increased its rating on the back of strong operating performance in FY23 led by healthy growth in collections and cash flows from operations – positive.
 
·      Cochin Shipyard - The company has been declared as L1 by the Indian Navy for MR/Mid Life Upgrade of an Indian Naval Ship worth Rs300cr - positive
 
·      Maharashtra Seamless- Company has made voluntary prepayment of outstanding long term loan of Rs. 234 crore approx. (~ USD 28.38 mn) – positive
 
·      Vedanta - The Government of Goa vide its 'Notice Inviting Tender' dated January 25, 2023, had invited tenders to participate in electronic auction for grant of Mining Lease in respect of iron ore mines in the State of Goa. The Company had submitted its bid in electronic auction for grant of Mining Lease.- wait for final outcome of Iron ore bids
 
·      Titagarh Rail  – Company approves preferential issue to Smallcap World Fund Inc worth Rs288.8cr on preferential basis at a price of Rs. 380 per share as against floor price of Rs. 347.68 per share – positive
 
·      Websol Energy – Company eceives project funding from IREDA for term loan worth Rs179.20cr to commission a600 MWP Mono PERC bifacial solar cell manufacturing facility and a 550 MWP module manufacturing facility in the foreseeable future.  – positive
 
·      Zydus Lifesciences  - Company has received final approval from the USFDA for Balsalazide Disodium Capsules USP. Balsalazide Disodium Capsules USP, 750 mg had annual sales of USD 29 mn in the United States (IQVIA MAT April 2023). – positive
 
·      Avantel Limited - Company has signed a contract worth of Rs.54.38 Crores dated June 9, 2023 with Ministry of Defence, Coast Guard Headquarters, New Delhi. – positive
 
·      IndiGo - For the first time ever, company expands across the Atlantic with new codeshare connections to the US – positive
 
·      Premier Explosives – Company has received orders from Bharat Dynamics Limited for Supply of PI & P2 Motors of MRSAM worth Rs. 43.26 crores and from Larsen & Toubro Limited for Supply of PSOM-XL motors worth Rs. 13.94 crores.- Positive
 
·      Karnataka Bank - Mr. Srikrishnan Hari Hara Sarma assumes charge as Managing Director & CEO of the company - positive
 
·      Jeevan Scientific Technology - The World Health Organization (WHO) has concluded that the inspection is closed successfully and has released the closure letter on 09th June, 2023 for the WHO inspection of the company’s Bio-Analytical facility and Clinical Pharmacology Centre, Hyderabad - positive.
 
·      IEX - Shares of Indian Energyn Exchange fell by 8% yesterday to a two-year low after Ministry of Power asked CERC to initiate the process of market coupling for power exchanges. It also asked Central Electricity Regulatory Commission to take suitable action for consultation and finalisation of a construct with multiple exchanges. The coupling of exchanges is expected to bring down the market share of Indian Energy
 
·      SBI – Company received board approval to raise fund up to Rs 50,000 crore through debt instruments in the current financial year. The funds will be raised through private placement on the government's approval.
 
·      Zydus Lifesciences – Company has started the phase 4 trial for Saroglitazar Magnesium effects on comorbid patients. Saroglitazar Magnesium is used to treat non-alcoholic fatty liver disease. – positive
 
·      Five-Star Business Finance – Credit rating agency CareEdge Ratings increased its rating for the long-term bank facilities. The rating agency increased its rating for long term bank facilities of the company to AA-; Stable from the earlier rating of A+ Stable. Improvement in market capitalization levels, which stood at Rs 4,285 at the end of the previous fiscal year. Gross loan portfolio growth of 36.47% growth at Rs 6,915 crore, against the previous fiscal year end figure of Rs 5,067 crore - positive
 
·      Dr. Reddy's Lab- Company has been given U.S. FDA approval for cyclophosphamide.  The drug is used used as chemotherapy and to suppress the immune system in certain cases – positive
 
·      Best Agrolife Ltd – Company has received the registrations for the indigenous manufacturing of the product Trifloxystrobin 10% + Difenoconazole 12.5% + Sulphur 3% Sc under section 9 (3) FIM from Central Insecticides Board & Registration Committee (CIBRC).
 
·      KPI Green – Company received commissioning certificates from the Gujarat Energy Development Agency (GEDA) for one of its projects. Company received Commissioning Certificates from Gujarat Energy Development Agency (GEDA) for a 7.20 MW wind-solar hybrid power project – positive
 
·      Maan Aluminum – Company approves issue of bonus issue in the ratio of 1:1 and approved splitting each share into two (from Rs10 to Rs5) – Avoid
 
·      Hazoor Multi – company has received approval to start the construction of Samruddhi Expressway in Nasik for Rs 119.18 crore.- positive
 
·      Indoco’s Baddi Facility Receives EUGMP Certification From Health Authority Of Germany - Company has received EU GMP certification from the Competent Health Authority of Germany for its manufacturing site situated at HB 211 Village Katha, Nalagarh, Solan, Baddi plant. The EU GMP certification issued by the German Health Authority (Berlin) confirms that the site complies with the Good Manufacturing Practice requirements as referred in the EC Directive.
–       positive 
 
·      L&T Finance: Company’s aims to maintain a compound annual growth rate (CAGR) of over 25% predominantly by focusing on retail financing as a long-term strategy, a senior company official told news agency PTI on June 11. With the current growth rate, the retail portfolio of the group is estimated to reach ₹1,00,000 crore by fiscal 2025-26. L&T Group's non-bank financing vertical grew by 35% in FY23. In the current fiscal year, the company officials expect retail to reach 80% of the total loan book, two years ahead of the target under its goal. – positive
 
·      Star Health and Allied Insurance Company: Company announced that its founder and director Venkatasamy Jagannathan has tendered his resignation from its Board with immediate effect. – Avoid.
 
·      Container Corporation of India: After the ₹12,000 crore of disinvestment plan of Container Corporation of India (CONCOR) garnered the attention of global majors like Maersk, the process stands at status quo because of the concerns raised by the railway ministry, its parent organisation – positive.
 
 
 

Market Indication

Market Indication:
Global: FLAT to POSITIVE

NIFTY: FLAT to POSITIVE

BANKNIFTY:  FLAT to POSITIVE

BULK Deals: Birla Corporation, CMS Info Systems etc.

Stocks In F&O Ban Period: Indian Energy Exchange and India Cements and Indiabulls Housing Finance

Results Today: Nil

SGX NIFTY:  (Positive)

18680     +70.00    +0.38%

Securities in Ban

Securities in Ban For Trade Date 12 - JUNE -2023 - 1. IBULHSGFIN, 2.IEX, 3. INDIACEM (Source - nseindia.com)

Economic Calendar Today

*Economic Calendar, Monday, June 12th 2023*

๐Ÿ‡ฏ๐Ÿ‡ต *Japan* : Machine Tool Orders (YoY)

๐Ÿ‡จ๐Ÿ‡ณ *China* : New Loans, Outstanding Loan Growth (YoY), Chinese Total Social Financing, M2 Money Stock (YoY)

๐Ÿ‡ฎ๐Ÿ‡ณ *India* : Cumulative Industrial Production (Apr), CPI (YoY) (May), Manufacturing Output (MoM) (Apr), Industrial Production (YoY) (Apr)

๐Ÿ‡บ๐Ÿ‡ธ *USA* : Consumer Inflation Expectations, 3-Month Bill Auction, 6-Month Bill Auction, 3-Year Note Auction, 10-Year Note Auction, Federal Budget Balance (May)

Key Events This Week

Key Events This Week:

1. May CPI Inflation data - Tuesday

2. May PPI Inflation data - Wednesday

3. June Fed meeting - Wednesday

4. Retail Sales data - Thursday

5. Initial Jobless Claims - Thursday

6. 2 Fed speakers Friday, blackout period ends

Volatility returns this week.???

Stocks in Action

Stocks in Action 12 June 

SHALBY: Shalby Academy, the healthcare education division of Shalby Ltd, made its partnership with P P Savani University in Surat
Both organizations have signed an MOU to jointly offer a diverse range of Para Medical/Healthcare courses in South Gujarat

MOSCHIP TECHNOLOGIES: Approved allotment of 1.14 Crore Shares Rs 63.22/ Share aggregating Rs 74.69 Crores to the shareholders of Softnautics Inc for consideration other than cash towards part payment of the total consideration payable

VEDANTA: Declaration of Preferred Bidder of Iron Ore Mine (Block VII - Cudnem Mineral Block) by the Department of Mines & Geology, Goa in Electronic Auction of Iron Ore Mine

MAHARASHTRA SEAMLESS: Company has made voluntary prepayment of outstanding long term loan of Rs 234 crore approximately 


KOTAK MAHINDRA BANK 
Large Trade
CANADA PENSION PLAN INVESTMENT BOARD
SOLD 3,30,00,000 Shares @ Rs 1,855.64/ Share


JUPITER WAGONS: NCLT Kolkata Approves Company’s Resolution Plan To Acquire Controlling Stake Of Stone India Under Corporate Insolvency Resolution Process Of Insolvency and Bankruptcy Code 2016

INTERGLOBE AVIATION
 Expands Codeshare Partnership With Turkish Airlines For United States
 Announced New Codeshare Connections Via Istanbul To USA
Travellers From India Can Travel To New York, Boston, Chicago, & Washington, Effective June 15, 2023

TITAGARH WAGONS: FUND RAISING Raising of funds through issuance of upto 76,00,000 Equity Shares to SMALLCAP WORLD FUND On preferential basis at a price of Rs 380/share for an Aggregate amount of Rs 288 Crores

ITI: RATING DOWNGRADE Acuite Rating and Research Limited downgrades credit ratings of the company Driven by the deterioration in operating performance during FY'23, reflected in its declining scale of operations and cash losses resulting in stretched liquidity

 BIRLA CORPORATION: LARGE TRADE SOCIETE GENERALE
BUY 399,321 Shares @ Rs 1188.51/ Share

AMBALAL SARABHAI ENTERPRISES: Subsidiary Asence Pharma commenced its new oncology and synthetic API plant in Vadodara Plant set up to meet all domestic and international regulatory standards and will manufacture niche molecules that have a global requirement

Sunday, June 11, 2023

Tata Motors' EV plan

๐Ÿ“Š Here are some of the key points of Tata Motors' EV plan ๐Ÿ“Š

1️⃣ Launch 10 new EVs by 2026.

2️⃣ EVs to account for 25% of total sales by 2025.

3️⃣ Invest heavily in EV technology.

4️⃣ Develop own EV platform (Ziptron).

5️⃣ Work on developing new battery technologies.

6️⃣ Believe EVs will play a major role in the future of transportation.

๐Ÿ“Now Tata Group to set up Rs 13,000 crore lithium ion cell unit in Gujarat

Friday, June 9, 2023

Down From All Time High

*Down From All Time High*

Laurus Labs: -68%
IEX: -61%
IRCTC: -50%
Jubilant Foods: -47%
Deepak Fert: -46%
D Mart: -40%
Rajratan Wire: -40%
Deepak Nitrite: -31%

#DoYouKnow How Much They Gained in 2020-21

Laurus Labs: +965%
IEX: +340%
IRCTC: +350%
Jubilant Foods: +270%
Deepak Fert: +1050%
D Mart: +220%
Rajratan Wire: +1500%
Deepak Nitrite: +710%

BUY BHEL CASH

BUY BHEL CASH @ 85-85.50, SL 83.50, TGT 88, 92+

BUY NIFTY 18800 PUT

BUY NIFTY 18800 PUT @ 207-15, SL 200, TGT 230, 244, 266, 315+

BUY SONATA SOFT

BUY SONATA SOFT @ 1016-26, SL 1005, TGT 1074, 1150+

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

◆ Nifty index opened flattish and moved in the positive direction but failed to hold above 18777 zones and drifted lower in the second half of the session. It broke its intraday support zones as a result of profit booking at higher zones and closed with losses of around 90 points. Some sort of pause could be seen at record levels but overall set up remains positive. It formed a Bearish candle and an outside Bar on daily scale

◆ Now it has to cross and hold above 18666 zones to witness an up move towards 18786 and 18888 zones while on the downside support exists at 18580 and 18530 zones

◆ India VIX was down by 1.60% from 11.44 to 11.25 levels. Volatility sunk to 10 zones during the day and comforted the bull at higher zone but was followed by a slight rise

◆ On option front, weekly maximum Call OI is at 18700 then 18800 strike while maximum Put OI is at 18700 then 18600 strike. Call writing is seen at 18700 then 18800 strike while Put writing is seen at 18700 then 18500 strike. Option data suggests a broader trading range in between 18450 to 18900 zones while an immediate trading range in between 18550 to 18800 zones

◆ Bank Nifty opened on a flattish note but managed to hold 44200 zones initially and gradually moved towards 44459 marks in the first half of the session. However it failed to hold 44444 marks and quickly drifted again towards 43900 zones in the latter part of the trading session. It formed a Bearish candle on daily scale as selling pressure was seen at higher zones however multiple supports are intact at lower zones and it closed near its crucial 20 DEMA levels

◆ Now it has to cross and hold above 44044 zones for an up move towards 44250 then 44500 zones while on the downside support is seen at 43750 then 43500 levels

◆ Bullish setup in Dixon, NTPC, Jswsteel, HAL, Powergrid, Indigo and LT 

◆ Bearish setup in IEX, Indhotel, Kotak Bank, ABFRL, Mphasis, India Mart, Sunpharma and GNFC

Derivatives update

*Derivatives update*

Good morning !!
Derivatives update for Friday, 9th June 2023.

India VIX was down by 1.60% from 11.44 to 11.25 levels. Volatility sunk to 10 zones during the day and comforted the bull at higher zone but was followed by a slight rise.

Nifty *Put/Call Ratio* (OI) decreased from 1.38 to 1.06 level. 

On option front, weekly maximum Call OI is at 18700 then 18800 strike while maximum Put OI is at 18700 then 18600 strike. Call writing is seen at 18700 then 18800 strike while Put writing is seen at 18700 then 18500 strike.

*Option data suggests a broader trading range in between 18450 to 18900 zones while an immediate trading range in between 18550 to 18800 zones.*

For weekly Bank Nifty, Maximum Put OI is at 44000 then 43500 strike and maximum Call OI is placed at 44000 then 44500 strike. We have seen Call writing 44000 and Put writing is witnessed at 44000 strike as well.

Bank Nifty Put Call Ratio decreased from 0.95 to 0.77. Implied volatility rose from 12.7 to 13.3 levels.

Bank Nifty (CMP 43,995.25)
Data setup for Bank Nifty suggests a trading range in between *43500/43750 to 44250/44500 zones.*

Looking ahead at the FII’s derivatives activity, there was short built up in index futures, position unwinding in index options and long liquidation in stock futures.

In the cash market, FIIs were net buyers to the tune of 212 crores while DII’s were net sellers worth 405 crores. FIIs Index Long Short Ratio decreased to 48.20%.

Derivatives data and price set up suggests, Nifty has to cross and hold above 18666 zones to witness an up move towards 18786 and 18888 zones while on the downside support exists at 18580 and 18530 zones.

Bank Nifty has to cross and hold above 44044 zones for an up move towards 44250 then 44500 zones while on the downside support is seen at 43750 then 43500 levels.

Thank you. Have a great trading day and weekend ahead..!!