NIFTY:
The market action on Friday was remarkable. The index opened almost 400 points down, and then spent the whole day recovering these opening losses, finally closing the day with gains. This means there was an intraday recovery of more than 400 points. For the last few days we have been referring to a large trading range in Nifty which supported 9488. This is what the market action was telling us. The Nifty almost went to the support level and then recovered. For this large trading range, the support has been tested; it is reasonable to expect that the resistance level of 10175 may also come under a test soon.
The long term trend remains down. Despite Fridays remarkable rally, the market suggests it is willing to go into a process of consolidation or correction. The medium trend remains up. The markets were looking for a correction and this correction has already come about when the Nifty fell from 10400 to 9500 in the last few days.
The trade will be to buy on dips and consolidations, for the initial target for 10175
BANK NIFTY:
Bank Nifty opened at 19529.30 with a gap down of 1005 points. The index has seen a sharp intraday rally today, recovered all its loss from a gap down and finally closed at 20605.05 with a gain of 71 points. PSU and Private banks both have performed same today and closed higher. Within the index, in terms of points, HDFC Bank contributed highest while Kotak Bank the lowest. A big gap down and then an equal intraday rally today suggests buyers have an upper hand in this market. The index today closed inside it trading range after recovering of more than 1000 points intraday.
Buy on a dip with a stop of 300 points and a target of 500 points.
TECHNICAL PICKS
| COMPANY . | CMP | B/S | RATIONALE |
| GLENMARK | 403.85 | BUY | Intermediate and short trends are sideways in Glenmark. The stock has seen a sharp rally and then started consolidation. Prices are on the verge of a breakout. Traders should buy above 407 with a stop below 400 and target of 421. |
| INFOEDGE | 2820.50 | 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 between 2772-2780 with a stop loss of 2735 and for the target of 2880. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| HINDUNILVR | 2100 CE | BUY | 48.05 | CMP | 40 | 65 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| IDEA.20.06 Jun | 10.2 | 8.51 | 55.17 | 3E+08 | MINDTREE.20.06 Jun | 905.45 | -0.72 | 8.47 | 1321600 | |
| SBILIFE.20.06 Jun | 750.85 | 1.72 | 26.7 | 6085500 | PAGEIND.20.06 Jun | 18500.1 | -1.17 | 7.23 | 113850 | |
| HDFCLIFE.20.06 Jun | 502.85 | 0.08 | 19.61 | 18728100 | UPL.20.06 Jun | 412.55 | -1.21 | 7.2 | 8104500 | |
| CHOLAFIN.20.06 Jun | 160.45 | 6.36 | 18.35 | 7302500 | ZEEL.20.06 Jun | 168.95 | -4.11 | 6.39 | 27557000 | |
| NCC.20.06 Jun | 30.65 | 4.07 | 18.31 | 25524000 | BHARATFORG.20.06 Jun | 348.55 | -0.73 | 6.06 | 6464900 | |
| Short Covering | Long unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| ESCORTS.20.06 Jun | 982.25 | 6.85 | -20.44 | 2371600 | NIFTYIT.20.06 Jun | 14400 | -1.1 | -8.33 | 1100 | |
| JINDALSTEL.20.06 Jun | 144.95 | 1.05 | -8.71 | 14625000 | KOTAKBANK.20.06 Jun | 1281.45 | -1.45 | -5.52 | 10122400 | |
| GODREJPROP.20.06 Jun | 836.7 | 2.98 | -8.23 | 384150 | TATAMOTORS.20.06 Jun | 105.35 | -0.66 | -3.16 | 76200300 | |
| LICHSGFIN.20.06 Jun | 281.15 | 3.73 | -7.89 | 7683000 | CUMMINSIND.20.06 Jun | 392.65 | -0.61 | -1.22 | 1093500 | |
| MGL.20.06 Jun | 1072.55 | 3.66 | -7.4 | 1141800 | IOC.20.06 Jun | 88.35 | -0.17 | -1.1 | 45076000 | |
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Top Delivery Percentage
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Hcl Technologies Ltd. 17 | 570.75 | -1.26 | 6624056 | 3461257 | 69.56 | India Vix | 30.82 | 1.96E+08 | 3.91 | |
| Petronet Lng Limited 17% | 260.1 | 1.94 | 7255495 | 2786613 | 59.25 | Nifty Auto | 6559.4 | 94380132 | 2.92 | |
| Godrejprop 23% | 835.85 | 2.17 | 349798 | 317951 | 56.82 | Nifty Realty | 204.65 | 2.15E+09 | 1.16 | |
| Hindustan Unilever Lt 15 | 2107.25 | 0.02 | 2338562 | 1337901 | 52.12 | Nifty Energy | 13855.75 | 3183041 | 0.8 | |
| Godrej Cons Products 16 | 606.8 | -1.11 | 2084545 | 1006962 | 49.99 | Nifty 50 | 9972.9 | 61600635 | 0.72 | |
| Ambuja Cements Ltd 17% | 193.7 | 2.22 | 5199081 | 1589407 | 46.78 | Nifty Bank | 20654.55 | 29814049 | 0.63 | |
| Larsen & Toubro Limit 17 | 926.4 | -0.44 | 5411426 | 1677350 | 46.55 | Nifty Metal | 1966.1 | 3.13E+08 | 0.58 | |
| Icici Prudential Life 28 | 400.95 | 1.42 | 2240478 | 1171568 | 45.24 | Nifty Pharma | 9982.8 | 61340898 | 0.5 | |
| Infosys Limited 17% | 692.05 | -1.69 | 9796064 | 3918922 | 44.4 | Nifty Fmcg | 29145.6 | 1059858 | 0.18 | |
| Oil & Natural Gas Cor 22 | 83.9 | -3.45 | 20601082 | 6085352 | 42.62 | Nifty it | 14402.75 | 1502343 | -1.48 | |
Upcoming Economic Data
| Domestic International | |
| •INR: WPI Inflation (YoY) (May) on 12th June, 2020
•INR: Trade Balance on 15th June, 2020 |
•USA: Retail Sales (MoM) (May) on 16th June, 2020
•USA: Industrial Production (YoY) (May) on 16th June, 2020 |
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News Updates
| •Gilead Sciences Inc has said it has signed licensing pacts with four more firms, including three from India and one from Egypt, for manufacturing and sale of its antiviral drug remdesivir, the first treatment to show improvement in Covid-19 trials. Dr Reddy’s Laboratories Ltd, Biocon arm Syngene International Ltd, Zydus Cadila Ltd, and Egypt-based Eva Pharma Pvt Ltd are the companies Gilead has entered into non-exclusive voluntary licensing agreements with.
•State Bank of India has filed an application in the National Company Law Tribunal to recover more than Rs 1,200 crore from Anil Ambani under the personal guarantee clause of the bankruptcy law. Anil Ambani had given personal guarantee to the loans given to Reliance Communications and Reliance Infratel. •Royal Enfield maker Eicher Motors on June 12 reported a 44.1 percent year-on-year decline in its Q4FY20 consolidated profit due to nationwide lockdown in second half of March and overall slowdown in auto business. Profit declined to Rs 304.3 crore during the quarter, compared to Rs 544.8 crore in same period last year. •BHEL on Saturday reported a consolidated net loss of Rs 1,532.18 crore for the March quarter compared with a profit of Rs 680.77 crore in the corresponding quarter of last year. Analysts were largely expecting an up to 65 per cent drop in profit. Ebitda loss for the quarter came in at Rs 560 crore compared with a profit of Rs 925 crore in the year-ago quarter. Deferred tax expenses for the quarter stood at Rs 822 crore against Rs 14 crore in the year-ago quarter. Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name5 | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ACE | Audited Results;General | 15-Jun-20 | LIKHAMI | Audited Results | 15-Jun-20 |
| ASHIKACR | Audited Results;Final Dividend | 15-Jun-20 | LUDLOWJUT | Audited Results;Dividend | 15-Jun-20 |
| ASHOKA | Audited Results | 15-Jun-20 | NATHBIOGEN | A.G.M.;Audited Results | 15-Jun-20 |
| BOMBWIR | Audited Results | 15-Jun-20 | PFIZER | Audited Results;Final Dividend | 15-Jun-20 |
| CANFINHOME | A.G.M.;Audited Results;Dividend | 15-Jun-20 | PRSNTIN | Audited Results;Quarterly Results | 15-Jun-20 |
| CCL | Audited Results | 15-Jun-20 | RAMKY | Audited Results;General | 15-Jun-20 |
| CHMBBRW | Audited Results;Quarterly Results | 15-Jun-20 | REVATHI | Audited Results | 15-Jun-20 |
| HINFLUR | Audited Results | 15-Jun-20 | SRTRANSFIN | General | 15-Jun-20 |
| INTELLECT | Audited Results | 15-Jun-20 | TATAMOTORS | Audited Results | 15-Jun-20 |
| JKTYRE | Audited Results;Final Dividend | 15-Jun-20 | TNPETRO | Audited Results;Final Dividend | 15-Jun-20 |
Corporate Action
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| REFEX | 16-Jun-20 | Right Issue of Equity Shares | MOTOGENFIN | 19-Jun-20 | Stock Split From Rs.10/- to Rs.5/- |
| AVANTEL | 17-Jun-20 | Final Dividend – Rs. – 2.00 | SCHAEFFLER | 19-Jun-20 | Final Dividend – Rs. – 35.00 |
| RALLIS | 17-Jun-20 | Final Dividend – Rs. – 2.50 | SHREDIGCEM | 22-Jun-20 | Dividend – Rs. – 1.50 |
| SINCLAIR | 17-Jun-20 | Stock Split From Rs.10/- to Rs.2/- | TATACHEM | 22-Jun-20 | Final Dividend – Rs. – 11.00 |
| TATACONSUM | 18-Jun-20 | Final Dividend – Rs. – 2.70 | SANOFI | 29-Jun-20 | Final Dividend – Rs. – 106.00 |
| HINDUNILVR | 19-Jun-20 | Final Dividend – Rs. – 14.00 | SANOFI | 29-Jun-20 | Special Dividend – Rs. – 243.00 |
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
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