OUTLOOKNIFTY:

The Nifty moved in a narrow range today with high at 10148 and low at 10036, giving an intraday range of just 112 points. This is as narrow as it gets. The market opened almost unchanged, then moved around 10,080. 50 points up and then 50 points down. This up and down movement continued after all was said and done, the Nifty closed higher by 69.5 points, or .69%. The Nifty is in a narrow range today and has been inside a trading range for the last three days. The trading range break out occurs above 10175. Buy above 10175 with a tight stop of hundred points. In the event that the market does not go above this level, but actually starts falling there is a short sell which is below 10063. The short side trade is a breakdown from a minor range. Therefore, keep tight stops and modest gains.

Hence, buy above 10175 and sell below 10063.

BANK NIFTY:

Bank Nifty opened at 20760.95 with a marginal gap up of 107 points. The index traded very volatile today but finally closed at the top of the day near 21240.25 with a gain of 587 points. Private and PSU Banks both have performed same today and closed higher by more than 2%. Within the index, in terms of points, IndusInd bank contributed the highest and Bank of Baroda the lowest. The index traded very volatile today but closed higher due to a sharp surge in the last 30 minutes of trading.

As mentioned, the range of 20300-21600 still remains intact, we should wait for a breakout.

TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
       BALKRISIND 1148.35 BUY Intermediate and short term trends are up. The stock has seen a sharp rally and then started a process of consolidation. Prices are trading at the verge of  breakout. Buy above 1155 with a stop below 1125 for the target of 1200.
       COALINDIA 140.70 SELL The immediate trend of the stock is sideways. The stock can be sold below 139 with a stop loss above 142  and for  the target of  134.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
ASHOKLEY 52.5 CE BUY 3.80 CMP 2.75 7 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
RBLBANK.Jun 25 167.9 20.01 33.09 27361500 M&MFIN.Jun 25 155.4 -1.08 18.76 14688000
UJJIVAN.Jun 25 214.75 9.29 28.02 4365600 MOTHERSUMI.Jun 25 95.4 -3.54 14.46 26920000
BHEL.Jun 25 31.2 1.46 27.87 70231200 BOSCHLTD.Jun 25 10785.95 -3.5 14.41 147320
EQUITAS.Jun 25 51.1 4.39 27.14 13220200 SBILIFE.Jun 25 744.9 -1.46 13.44 5341500
INDUSINDBK.Jun 25 514.05 10.83 25.7 29603600 PEL.Jun 25 1060 -0.53 10.89 4207962
                                                                        Short Covering                                                                              Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
IDEA.Jun 25 10.95 7.88 -11.79 2.22E+08 JUSTDIAL.Jun 25 394.15 -2.57 -4.35 2062200
NIFTYIT.Jun 25 14821 0.97 -8.11 1700 GODREJCP.Jun 25 634.3 -3.68 -1.84 6109600
TORNTPHARM.Jun 25 2473 3.92 -5.02 1240500 GODREJPROP.Jun 25 821.5 -1.32 -1.74 404300
JINDALSTEL.Jun 25 146 1.07 -4.78 17245000 NMDC.Jun 25 90.3 -1.37 -0.99 30090000
EXIDEIND.Jun 25 158.95 0.38 -2.4 8149000 BRITANNIA.Jun 25 3383.5 -1.05 -0.51 1726200

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Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Info Edge (India) Limited 2746.8 1.61 730231 1012711 66.63 Nifty Realty 206.6 1.95 85605
REC LIMITED 100.9 4.24 15089058 17658982 65.42 Nifty Bank 21100.1 1.81 85605
NTPC Limited 98.15 0.15 12104523 8069678 56.7 Nifty IT 14842.05 0.71 85605
HCL Technologies Ltd. 578.7 1.02 6491758 2083688 54.65 Nifty 50 10116.15 0.69 85605
Ambuja Cements Ltd 192 2.24 4235763 2242443 52.74 Nifty Pharma 10149.25 0.27 85605
Oil & Natural Gas Corp 88.25 -1.94 17382524 8604244 51.51 Nifty FMCG 29503.2 -0.07 85605
HDFC Ltd. 1809.3 2.1 4631195 4587519 50.6 Nifty Media 1316.4 -0.34 85605
Page Industries Limited 19367.65 0.58 23578 19559 50.3 Nifty Metal 2010.8 -0.58 85605
HDFC LIFE INSURANCE COMP 501.7 -1.02 3359218 4557017 49.68 Nifty Auto 6502.65 -1.14 85605
NESTLEIND 16534.7 -0.11 123440 84007 48.09 INDIA VIX 29.44 -2.52 85605

Upcoming Economic Data

   Domestic                                                                                                                                                  International
•INR: Industrial Production (YoY) (Apr)  on 12th June, 2020

•INR: CPI (YoY) (May) on 12th June, 2020

•USA: Initial Jobless Claims on 11th June, 2020

•USA: PPI (MoM) (May) on 11th June. 2020

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News Updates

•Standard & Poor’s (S&P) Global Ratings on Wednesday affirmed India’s lowest investment grade credit rating with stable outlook, saying the country’s economy and fiscal position will stabilize and beginning to recover from 2021 onwards. The rating action will provide huge relief to the government as last week Moody’s Investor downgraded India’s sovereign rating one notch to the lowest investment grade with negative outlook.

•India’s largest lender SBI is seeking applications to appoint a new chief financial officer on contract. The appointee will receive an annual remuneration of Rs 75 lakh to Rs 1 crore for a three-year contract, according to an advertisement released by State Bank of India on Tuesday.

•State-owned Steel Authority of India Ltd (SAIL) on Wednesday said it has tied up with Apollo Hospitals to provide healthcare services to its employees and their families amid the COVID-19 pandemic. Earlier, the company had also announced its partnership with Max Healthcare after some SAIL employees tested positive for the virus at the company’s Headquarters (HQ) here.

•Niche bike maker Royal Enfield on Wednesday said 90 per cent of its retail network across India has reopened and resumed operations.As of Wednesday, more than 850 stores and 425 studio stores across India are operational for sales and service, the company said in a statement.

Source: Economic Times,  Moneycontrol  ,Business Today,Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name5 Purpose Ex-Date Company Name Purpose Ex-Date
ADSL Audited Results;General;Quarterly Results 11-Jun-20 HITECHGEAR General 11-Jun-20
AMS General 11-Jun-20 IIFLWAM Audited Results 11-Jun-20
BANCOINDIA Audited Results;Final Dividend 11-Jun-20 INDBANK Audited Results;General 11-Jun-20
DCBBANK A.G.M. 11-Jun-20 INDBNK Audited Results 11-Jun-20
DICIND Quarterly Results 11-Jun-20 INSPIRISYS Audited Results 11-Jun-20
DIXON Audited Results 11-Jun-20 JK AGRI Audited Results;Dividend 11-Jun-20
EIDPARRY Audited Results 11-Jun-20 KNRCON Audited Results 11-Jun-20
ENKEIWHEL A.G.M.;Preferential Issue of shares; Results 11-Jun-20 REDINGTON Audited Results 11-Jun-20
FERVENTSYN Audited Results 11-Jun-20 SALEM General 11-Jun-20
FOODSIN Audited Results;Final Dividend;Results 11-Jun-20 SBIN General 11-Jun-20

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ESABINDIA 11-Jun-20 Interim Dividend – Rs. – 70.00 MAXINDIA 12-Jun-20 Spin Off
NESTLEIND 11-Jun-20 Final Dividend – Rs. – 61.00 TATACOFFEE 12-Jun-20 Dividend – Rs. – 1.50
PAPERPROD 11-Jun-20 Final Dividend – Rs. – 3.00 AVANTEL 17-Jun-20 Final Dividend – Rs. – 2.00
WELENT 11-Jun-20 Final Dividend – Rs. – 2.00 RALLIS 17-Jun-20 Final Dividend – Rs. – 2.50
KANSAINER 12-Jun-20 Dividend – Rs. – 3.15 SINCLAIR 17-Jun-20 Stock  Split From Rs.10/- to Rs.2/-
MAXINDIA 12-Jun-20 Amalgamation TATACONSUM 18-Jun-20 Final Dividend – Rs. – 2.70

DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

Elite Wealth Advisors Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Advisors Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more


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