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Nifty Outlook

Markets ended almost unchanged in a volatile trading session tracking mixed cues. Initially, weakness in the global markets was weighing on the sentiment however buying in select index majors not only trimmed the losses but also pushed the index in the green. Consequently, the Nifty settled around the day’s high to close at 15,850 levels. Sectoral indices traded mixed Oil & Gas, Metal and Auto were the top gainers whereas Banking, Consumer Durables and Telecom ended lower

Markets are trading largely in sync with their global peers and seeing selective participation so far. Auto pack tops our list of preferred sectors followed by select stocks from FMCG, pharma and IT pack. Participants should align their positions accordingly.

News

* Hindustan Aeronautics has recommended final dividend of Rs 10 per equity share of Rs 10 each fully paid up (100%) for the FY22.

* Tata Motors has announced an impending price hike of its commercial vehicle range. An increase in price in the range of 1.5-2.5%, will come into effect from 1st July 2022 across the range, depending upon individual model and variant.

* Glenmark Pharmaceuticals Ltd announced that its fully owned subsidiary Glenmark Pharmaceuticals Inc., USA has acquired the approved ANDAs for Famotidine Tablets USP, 10 mg and 20 mg (OTC), Cetirizine Hydrochloride Tablets USP, 5 mg and 10 mg (OTC), Lansoprazole DelayedRelease Capsules USP, 15 mg (OTC) and Olopatadine Hydrochloride Ophthalmic Solution USP, 0.1% (OTC) in the United States from Wockhardt Limited.

Derivative Ideas

NIFTY gained 0.11% and closed at 15850.2 on 28th June. The index recoup its opening cut with consolidation bias and closed flat. With VWAP based buying in NIFTY FUTS added with increase in OI suggesting long formation, we expect NIFTY to trade positive in the short term and thus suggest buying CE as per the given levels.

Strategy:- BUY NIFTY 7 JUL 16200 CE@ 50-55, STOP LOSS 30, TARGET 90.

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