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 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.
|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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|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|
|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|
|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|
Upcoming Economic Data
|•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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|•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
|Company Name5||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|ADSL||Audited Results;General;Quarterly Results||11-Jun-20||HITECHGEAR||General||11-Jun-20|
|BANCOINDIA||Audited Results;Final Dividend||11-Jun-20||INDBANK||Audited Results;General||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|
|FOODSIN||Audited Results;Final Dividend;Results||11-Jun-20||SBIN||General||11-Jun-20|
|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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