outlook

NIFTY:

The NIFTY had a significantly volatile day today, with the index first having a follow-through of yesterday’s weakness then going all the way down to 9043. This is what the story of the first half of trading was. The second half of trading saw the NIFTY begin a rally from its lows, and then go up almost 200 points to close at around 9200. After the rally, the NIFTY continues to be inside the trading zone, between  9150 to 9400.

Inside a trading zone

Yesterday, the NIFTY had a move above 9400, but the breakout failed. Today, the NIFTY went well below 9150, but eventually the breakdown led to a strong rally. The NIFTY enteted the trading zone again, remaining inside this trading area.  A decisive move above 9400 or below 9150 is needed for a new trend to emerge.

VIEW:

Buy on a breakout above 9250 with a stop just below 9200.

Sell on a breakdown below 9090 with a stop just above 9130.

TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
      ITC 165.05 BUY The stock has given the breakout with volume  on the intraday as well as on the daily chart. The stock can be bought at CMP with a stop loss of  161.30 and for the target of  172.
      VOLTAS 460.20 SELL The immediate trend of the stock is weak .  The stock can be sold at CMP with a stop loss of  475  and for the target of  440.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
HDFC 1680 CE BUY 83.25 CMP 58 130 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
EXIDEIND.May 28 152.9 2.82 22.53 5362100 BANDHANBNK.May 28 233.95 -2.22 26.2 12642000
VEDL.May 28 89.65 12.2 20.14 1.17E+08 RELIANCE.May 28 1489.2 -5.31 20.72 34874500
NIFTYIT.May 28 13689 1.24 19.44 2150 NESTLEIND.May 28 17544.55 -0.33 20.34 397550
BAJAJ-AUTO.May 28 2648.5 3.35 11.63 1669750 KOTAKBANK.May 28 1158.9 -2.47 19.58 9877600
INDIGO.May 28 1012 5.59 11.03 3370500 CHOLAFIN.May 28 151.25 -0.95 19.37 9307500
                                                                        Short Covering                                                                              Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
IDEA.May 28 4.95 7.61 -9.82 5.06E+08 TORNTPOWER.May 28 299.85 -0.45 -4.45 1932000
PVR.May 28 897 0.95 -1.54 1330800 CENTURYTEX.May 28 267.25 -1.75 -2.44 2521800
TATAPOWER.May 28 28.55 4.2 -1.47 57339000 PETRONET.May 28 231.85 -1.02 -0.15 11997000
MCDOWELL-N.May 28 505 2.26 -0.64 10878750
GODREJPROP.May 28 623 0.2 -0.42 152750

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Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
TATA CONSUMER PRODUCTS 358.7 1.04 3258000 2518453 52.55 Nifty Media 1154.25 1.7 85734
Power Grid Corporation o 163.3 2.83 11243145 2715259 51.06 Nifty Metal 1717.55 1.16 85734
Kotak Mahindra Bank Limi 1157.2 -2.63 10268551 1977942 42.32 Nifty Realty 172.45 0.79 85737
HDFC BANK LTD. 901.55 -1.56 24784324 5926950 41.52 Nifty FMCG 26857.15 0.71 85734
Hindustan Unilever Ltd 2011.55 -1.78 14881259 4455132 39.92 Nifty IT 13687.75 0.69 85734
Tata Power Co. Ltd. 28.4 4.03 27227530 14468063 39.63 Nifty Auto 5708.95 0.51 85734
Reliance Industries Ltd 1479.25 -6.19 46029119 11723342 38.22 INDIA VIX 38.2 0.43 85734
Hindustan Petroleum Corp 189.95 -1.4 3897833 1791287 37.9 Nifty Bank 18862.85 -0.46 85734
COALINDIA 126.85 -1.25 8128532 2504185 37.61 Nifty 50 9196.55 -0.46 85728
National Alum Co Ltd 27.1 -3.04 14291470 2537676 37.35 Nifty Pharma 9246.65 -0.65 85734

Upcoming Economic Data

   Domestic                                                                                                                                                  International
•INR:  WPI Inflation (YoY) (Apr) on 14th May, 2020

•INR:  Trade Balance on 15th May, 2020

•USA: PPI (MoM) (Apr)  on 13th May, 2020

•USA: Crude Oil Inventories on 13th May, 2020

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News Updates

•The Index of Industrial Production fell by 16.7 percent in March over last year, compared to an increase of 4.5 percent in February, the government’s statistical office said in a release on Tuesday. It, however, released the data with the caveat that information flow from producing units was impacted due to the lockdown. As a consequence of the lower response rate, the quick estimates released are likely to undergo revision, the department said.

•With the coronavirus pandemic crippling demand for automobiles worldwide, Tata Motors Ltd. is worth nothing without its luxury unit Jaguar Land Rover, according to CLSA Ltd. The $3.7 billion Indian auto company faces a significant increase in debt due to the crisis, and its plan to deleverage may be delayed by four to six quarters, CLSA said.

•Bandhan Bank on May 12 reported a 20.5 percent year-on-year degrowth in Q4 FY20 profit due to additional provisions on account of COVID-19. Profit for the quarter dropped to Rs 517.3 crore, against Rs 650.9 crore in the same period last year. Net interest income for the quarter grew sharply by 33.6 percent year-on-year to Rs 1,680 crore, with advances rising by 60.46 percent (to Rs 71,846 crore). On the asset quality front, gross non-performing assets (NPA) as a percentage of gross advances falling 45 basis points sequentially to 1.48 percent and net NPA dipped 23 basis points to 0.58 percent in March quarter.

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

BOARD MEETINGS

Company Name5 Purpose Ex-Date Company Name Purpose Ex-Date
ABB Quarterly Results 13-May-20 SCHAEFFLER Quarterly Results 13-May-20
ESCORTSFIN Audited Results;General 13-May-20 SIEMENS Quarterly Results 13-May-20
GODREJCP Results;Final Dividend;Interim Dividend 13-May-20 UMANGDAIR Audited Results;Dividend 13-May-20
JTLINFRA Stock  Split;Voluntary Delisting of Shares 13-May-20 AAVAS Audited Results;General 14-May-20
KENNAMET Quarterly Results 13-May-20 ACCELYA Quarterly Results 14-May-20
KOTAKBANK Audited Results 13-May-20 ASHOKLEY General 14-May-20
MARUTI Audited Results;Dividend 13-May-20 BIOCON General;Quarterly Results 14-May-20
MPHASIS Audited Results;Final Dividend 13-May-20 CALSOFT Audited Results 14-May-20

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
NIITTECH 14-May-20 Interim Dividend – Rs. – 11.00 OFSS 19-May-20 Interim Dividend – Rs. – 180.00
JMFINANCIL 15-May-20 Dividend – Rs. – 0.20 DICIND 10-Jun-20 Final Dividend – Rs. – 4.50
SBICARD 15-May-20 Interim Dividend – Rs. – 1.00 KANSAINER 12-Jun-20 Dividend – Rs. – 3.1500
VOLTAMP 18-May-20 Dividend – Rs. – 25.00 AVANTEL 17-Jun-20 Final Dividend – Rs. – 2.00

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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