Weekly trading diary: 17th to 21st July 2023

Tradingqna · July 16, 2023, 12:43pm

Welcome to the weekly trading diary, a thread for discussing your trades, strategies, ideas, news, stories, etc.

Quick overview of how the markets performed in the week gone by;

Things to look forward to in the coming week;

Corporate earnings

17th July	18th July	19th July	20th July	21st July	22nd July	23rd July
HDFC Bank Limited	ICICI Lombard General Insurance Company Limited	Can Fin Homes Ltd.	Coforge Ltd.	Ashok Leyland	ICICI Bank Limited	Indraprastha Gas Limited
LTIMindtree Limited	ICICI Prudential Life Insurance Company Limited	L&T Finance Holdings Limited	Dalmia Bharat Ltd.	Atul Limited	Kotak Mahindra Bank Limited
Tata Elxsi Limited	IndusInd Bank Limited	Tata Communications Limited	Havells India Limited	DLF Limited	Yes Bank Limited
	Polycab India Limited		Hindustan Unilever Limited	Glenmark Life Sciences Limited
			Infosys Limited	Hindustan Zinc Limited
			MphasiS Ltd.	JSW Steel Ltd.
			Persistent Systems Ltd.	Paytm
			United Spirits Limited	Reliance Industries Limited
				UltraTech Cement Limited

Macroeconomic events

	18th July		19th July		20th July		21st July
US	Retail Sales (June)	UK	CPI Inflation (June)	US	Jobless Claims	Japan	CPI Inflation (June)
	Industrial Production (June)	Eurozone	CPI Inflation (June)		Home Sales (June)
		US	Building Permits (June)
			Crude Oil Inventories

Priyank_Mehta · July 17, 2023, 8:26am

Highest OI and range is 45000 and 44800.

and BNF just crossed above 45000,

i think this has a bullish bias, lets see how it ends

what do you guys think?

vikramaditya · July 17, 2023, 8:32am

HDFC bank shared bumper results. Bnifty should sustain above 45k this time.

Tradingqna · July 17, 2023, 1:27pm

Nifty and Sensex closed at new all-time highs, rising around 0.8% in line with strong global cues. Dow and Nasdaq futures are trading higher.

Brent Crude: 79.97 -1.13%
USD INR Spot: 82.146 0.053%
India 10Y Bond yield: 7.7076 -0.18%

Nifty 50 market breadth

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

Zee Entertainment Enterprises was the top gainer.

Bandhan Bank was the top loser.

Earnings Update:

Bandhan Bank: Net Profit: Rs. 721 cr 18.7% YoY; NII: Rs. 2,490.8 cr 0.9% YoY

LTIMindtree: Net Profit: Rs. 1,152.3 cr 4.1% YoY; Revenue: Rs. 8702.1 cr 13.8% YoY

HDFC Bank: Net Profit: Rs. 11,952 cr 30% YoY; NII: Rs. 23,599.1 cr 21.1% YoY.

News

The Indian government on Friday raised the windfall tax on petroleum crude to Rs. 1,600 per metric ton from zero, according to a government notification.

Ashok Leyland hit 52-week highs after bagging orders valued at Rs 800 crore in the defense sector, The contracts awarded include the procurement of the Field Artillery Tractor (FAT 4X4) and the Gun Towing Vehicle (GTV 6X6).

Route Mobile jumped over 8% before falling 16% from the highs after the company said Belgian telecom service provider Proximus Group will pick a majority stake in the firm acquiring
57.56% of the shares for Rs 5,922.4 crore.

India’s petrol and diesel consumption fell 15% and 10.5% YoY in the first half of July mainly due to the heavy abnormal monsoon and reduced demand in the agricultural sector.

As a part of PM Modi’s visit to France and UAE last week, Indian Oil Corp, the country’s top refiner, has signed long-term LNG import deals with UAE’s Abu Dhabi Gas Liquefaction Co Ltd (ADNOC LNG) and France’s TotalEnergies.

China’s second-quarter GDP grew by 6.3% YoY mainly on account of the low base effect. The growth came in at 0.8% QoQ. Analysts polled by Reuters had predicted a 7.3% increase in the second quarter GDP.

adutta · July 17, 2023, 1:48pm

expecting 46300 this week on the spot as long as it sustains above 45200. At this moment, expect fireworks in mid- and small-sized banks when the Bank Nifty will remain range-bound for some time.

Prakashsingh · July 18, 2023, 4:15am

Aur kitna badhega and selling the markets on rise has not worked so far.

Need a trigger for fall

jashjacob · July 18, 2023, 6:30am

The trigger will be until the last bear is killed

Priyank_Mehta · July 18, 2023, 7:23am

I am a swing trader, you can see in the above video that for 30mins the breadth is better and bullish. But for 1hour and 1 day it is neutral to bearish.

So it’s safe to say, the overall bias is neutral to bearish and i will not be taking a strong buying position as of now. Maybe a bear call spread would be a better strategy to employ right now.

i used this page (Indian Share Market Top Stocks, Future and Options | Zerodha Technicals
) for the above video given by Zerodha!

what are your views guys?

adutta · July 18, 2023, 7:44am

Haha, what’s the problem on the rise? Let it rise, and the sky is the limit. The main reason is that 80% of retailers missed the whole rally, and even multi-rich HNI has been waiting for a sizable correction in the market. But FIIS did the opposite, BUYING above 19,000 madly as they also waited for a crash in the market, thinking it was the same market as the USA. Now the market will keep on making record high until shorter book profit and shift to buying: rofl:

adutta · July 18, 2023, 7:47am

Picture abhi bhi baaki hai @Prakashsingh bhai. FOMO will add extra levels again above 20K.

vikramaditya · July 18, 2023, 7:50am

Agree with the assessment

Tradingqna · July 18, 2023, 1:45pm

Benchmark indexes extended their record-breaking run, reaching fresh all-time high closing levels. US futures are trading lower.

Brent Crude: 78.72 0.28%
USD INR Spot: 82.0486 -0.119%
India 10Y Bond yield: 7.057 -0.24%

Nifty 50 market breadth

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

Polycab India was the top gainer.

RBL Bank was the top loser.

Earnings Update:

IndusInd Bank: Net Profit: Rs. 2,123.6 cr 32.5% YoY; NII: Rs. 5,862.5 cr 18% YoY

LTTS: Net Profit: Rs. 311 cr 13% YoY; Revenue: Rs. 2,301 cr 14.7% YoY

Polycab: Net Profit: Rs. 403 cr 81.1% YoY; NII: Rs. 3,889 cr 42.1% YoY

News

IT firms witnessed a 157% surge in temporary job hiring in the first half of 2023, as per Work fulfillment platform Awign, to flexibly address the tech sector slowdown by converting fixed costs into variable ones.

Infosys surged 4% following the announcement of a 5-year, $2 billion agreement with an existing client for AI and automation-led development, modernization, and maintenance services.

Formal job creation under the Employees’ State Insurance Scheme recorded a significant 13.4% month-on-month increase in May, adding 2.02 million net new employees, as per the Ministry of Labour & Employment data.

Tradingqna · July 19, 2023, 1:47pm

Benchmark indices ended the trading session on a positive note, reaching new highs with gains of nearly 0.5%. US futures are trading slightly higher.

Brent Crude: 79.97 0.43%
USD INR Spot: 82.1029 0.066%
India 10Y Bond yield: 7.076 0.26%

Nifty 50 market breadth

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

Polycab India was the top gainer.

ICICI Prudential Life Insurance was the top loser.

Earnings Update:

Bank of Maharashtra: Net Profit: Rs. 882.1 cr 95.2% YoY; NII: Rs. 2340 cr 38.8% YoY

Tata Coffee: Net Profit: Rs. 47.5 cr 5.6% YoY; Revenue: Rs. 700.7 cr 5.8% YoY

News

Tata Group announced its entry into EV battery production with a plan to build a 40-gigawatt battery cell Gigafactory in the United Kingdom for Rs 42,500 crore.

UK’s inflation dropped to 7.9% YoY in June, mainly due to reduced gasoline expenses. Core inflation remained steady at 6.9% YoY, down from May’s 31-year peak of 7.1%, excluding volatile energy, food, alcohol, and tobacco prices.

According to a Retailers Association of India survey, retailers would increase by 7% year on year in June 2023, with South India leading the way. Sales are rising slowly ahead of the crucial festive months.

Tradingqna · July 21, 2023, 1:33pm

Benchmark indices fell more than a percent each, snapping a six-day winning streak, following a sell-off in the IT sector. Dow and Nasdaq futures are trading higher.

Brent Crude: 80.25 0.77%
USD INR Spot: 82.0217 -0.03%.
India 10Y Bond yield: 7.081 -0.03%

Nifty 50 market breadth

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

IndiaMART was the top gainer.

Infosys was the top loser.

Earnings Update:

Atul Ltd: Net Profit: Rs. 102.1cr 38.1% YoY; Revenue: Rs. 1,182 cr 19.9% YoY

DLF: Net Profit: Rs. 527 cr 12.2% YoY; Revenue: Rs. 1,432.2 cr 1.3% YoY

Glenmark Life: Net Profit: Rs. 135.4 cr 24.6% YoY; Revenue: Rs. 578.4 cr 18.1% YoY

Hind Zinc: Net Profit: Rs.1964 cr 36.5% YoY; Revenue: Rs. 7,282 cr 22.4% YoY

Ultratech Cement: Net Profit: Rs. 1,690 cr 6.8% YoY; Revenue: Rs. 17,731.1 cr 17% YoY

News

Go First’s flight resumption plan has been accepted by the Directorate General of Civil Aviation (DGCA). Go First plans to operate 114 daily flights with 15 aircraft under the approved resumption plan.

Infosys fell nearly 8% after lowering its FY24 revenue guidance to 1-3.5% in constant currency (CC), down from 4-7% previously. The significant reduction was primarily the result of lower-than-expected volume and push-outs in anticipated mega deals.