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.
Buy on a breakout above 9250 with a stop just below 9200.
Sell on a breakdown below 9090 with a stop just above 9130.
|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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|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|
|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|
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Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|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|
|National Alum Co Ltd||27.1||-3.04||14291470||2537676||37.35||Nifty Pharma||9246.65||-0.65||85734|
Upcoming Economic Data
|•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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|•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.
|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|
|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|
|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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