Today we had a roller-coaster ride in nifty’s price action where we saw a huge gap up almost 200 points. Gap up didn’t sustain and nifty corrected and fell about 100 points. Then there was a news flow of India and China border tension, due to this nifty fell all the way to 9700. After this quick fall nifty took support at 9730 level and a quick buying came that took the nifty up again by almost 200 points. At the end nifty closed at 9914 up by 100 points.
The nifty had a wide range day today, and was almost an upside day. The index went higher than yesterday’s high, but didn’t actually go lower than yesterday’s low, although it did reach yesterday’s low. We will consider this to be an almost outside day.
Look to buy the nifty with a stop at 9800.
Bank nifty opened at 20500.65 with a gap up of 576 points. The index didn’t sustain the higher levels and saw sharp decline. Recovery in afternoon till the market closing helps index to close 20296.70 with a gain of 383.80 points.
Private banks have outperformed today and closed higher by 1.91%.
The index traded very volatile today and closed with gains. A large consolidation is now visible in the index. Boundaries for this consolidation are 17500 as a support and 21500 as a resistance. The range is continuing from last three months and price have respected the boundaries multiple times.
We should wait for a close beyond this range and then plan our trade accordingly.
|GODREJCONS||634.35||BUY||The stock has corrected after a rally and has started an up move again. Traders should buy above 640 with a stop at 628 and target of 660-665.|
|CUMMINSIND||383.25||SELL||The short term trend is weak. The stock has been in a range and is now looking to breakdown from that. The stock can be sold at 386 with a stop loss of 393 and for the target of 367.|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|INFRATEL||215 PE||BUY||11.65||11||9||15.50||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|JINDALSTEL.Jun 25||142.75||4.81||19.96||18240000||TATAMOTORS.Jun 25||94.5||-5.92||31.03||97429400|
|BALKRISIND.Jun 25||1197.95||5.01||18.49||1532800||APOLLOHOSP.Jun 25||1370.35||-2.7||15.3||1010000|
|RECLTD.Jun 25||107.2||2.63||13.18||21690000||AXISBANK.Jun 25||380.25||-2.37||14.08||69165600|
|NIFTYIT.Jun 25||14459||0.68||12||1400||GODREJPROP.Jun 25||816.5||-0.33||12.01||430300|
|PAGEIND.Jun 25||17860||0.9||9.02||137450||NATIONALUM.Jun 25||29.8||-0.83||11.07||33930000|
|Short Covering||Long unwinding|
|BANKNIFTY.Jun 25||20195||1.42||-3.75||1727680||TORNTPOWER.Jun 25||324.75||-0.25||-7.53||1548000|
|SRF.Jun 25||3616||0.17||-3.29||551000||IDEA.Jun 25||9.75||-3.94||-7.47||2.47E+08|
|VOLTAS.Jun 25||547.8||0.2||-3.21||3563000||BHEL.Jun 25||28.35||-2.91||-4.12||43555200|
|INDIGO.Jun 25||1004||1.29||-2.59||3177000||ZEEL.Jun 25||164||-1.06||-2.19||27805200|
|TORNTPHARM.Jun 25||2500||1.31||-2.39||1104000||NCC.Jun 25||28.25||-3.09||-1.99||20367000|
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Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Sbi Life Insurance Co 20||764.1||2.52||1883911||2185069||65.88||Nifty Bank||20296.7||1.93||80343|
|Indian Oil Corp. Ltd. 15||84.85||-1.57||18620672||21889645||62.36||Nifty Metal||1955.9||1.42||80343|
|Kotak Mahindra Bank L 20||1276.8||2.23||5266312||4380438||57.99||Nifty Media||1314.95||1.24||80343|
|Godrej Cons Products 16||634.35||4.21||4980121||1048624||55.82||India Vix||32.97||1.2||80340|
|Hdfc Life Insurance C 22||505.7||1.16||3579474||1994723||55.1||Nifty 50||9914||1.02||80337|
|Colgate Palmolive (in 16||1329.75||-0.09||512329||510401||51.27||Nifty it||14450.8||0.38||80343|
|Itc Ltd. 15%||185||-1.18||27637395||12049536||49.25||Nifty Auto||6451.05||0.12||80343|
|Nestleind 15%||16342.1||-0.35||193237||68036||48.72||Nifty Fmcg||28575.35||-0.44||80343|
|Bharti Airtel Limited 18||544.9||-1.05||19072659||6596985||48.56||Nifty Pharma||9926.4||-0.63||80343|
|Tata Consumer Product 21||369.05||-0.26||2343185||1110836||48.43||Nifty Realty||196.85||-0.83||80343|
Upcoming Economic Data
|•INR: Bank Loan Growth on 19th June, 2020
•INR: FX Reserves, USD on 19th June, 2020
|•USA: Building Permits (May) on 17th June, 2020
•USA: Crude Oil Inventories on 17th June, 2020
|•Maruti Suzuki India Ltd (MSIL) on Tuesday said it has partnered IndusInd Bank for vehicle financing to help spur sales after resumption of operations following lockdown relaxations. Through the partnership, consumers can avail of low EMI scheme for the first three months starting at Rs 899 per lakh; step-up scheme with EMI starting with Rs 1,800 per lakh; up to 100 per cent on-road funding for customers with valid income proof, the company said in a statement.
•Aarti Industries Ltd. saw a big contract terminated but analysts and the management of the specialty chemicals maker don’t expect that to impact its operations. The loss of contract does not disturb operations greatly, Rajendra Gogri, chairman and managing director at Aarti Industries, told BloombergQuint. It’s valid for the next two years and there will be no material impact on revenue or operating margins for 2020-21 and 2021-22, he said, adding that nearly a third of the compensation will be paid in the first year and the rest in the second.
•Ipca Laboratories Ltd posted a 20% rise in its total Income at Rs. 4432.12 crore for the financial year 2020 against Rs. 3687.74 crore in the previous fiscal on a standalone basis, it said in a regulatory filing. Ipca, recorded a 43% year-on-year (y-o-y) jump in net standalone profit at Rs.652.46 crore in FY20 as against Rs. 454.91 crore in FY19. On a consolidated basis, its profit rose by 36% to Rs. 603.56 crore.
Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint
|Company Name5||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|ABAN||Audited Results||17-Jun-20||IGL||Audited Results;Final Dividend||17-Jun-20|
|ALSTONE||Audited Results||17-Jun-20||JKCEMENT||Audited Results;Dividend;General||17-Jun-20|
|CASTROLIND||Interim Dividend;General||17-Jun-20||KANORICHEM||Audited Results;Dividend||17-Jun-20|
|CLNINDIA||A.G.M.; Results;Final Dividend;General||17-Jun-20||MANGLMCEM||Audited Results||17-Jun-20|
|CUMMINSIND||Audited Results;Final Dividend||17-Jun-20||MOLDTEK||Audited Results;Final Dividend||17-Jun-20|
|EMKAY||Audited Results;Quarterly Results||17-Jun-20||MUTHOOTFIN||Audited Results||17-Jun-20|
|FDC||Audited Results;General||17-Jun-20||NATCOPHARM||Audited Results;Interim Dividend||17-Jun-20|
|FORTIS||Audited Results;Quarterly Results||17-Jun-20||PIDILITIND||Audited Results;Final Dividend||17-Jun-20|
|GOLDCORP||Audited Results||17-Jun-20||RBL||Audited Results;Final Dividend||17-Jun-20|
|GULFOILLUB||Final Dividend;General;Quarterly Results||17-Jun-20||RECLTD||Audited Results||17-Jun-20|
|HEG||Audited Results;Final Dividend||17-Jun-20||WHEELS||Audited Results;Final Dividend||17-Jun-20|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|AVANTEL||17-Jun-20||Final Dividend – Rs. – 2.00||SHREDIGCEM||22-Jun-20||Dividend – Rs. – 1.50|
|RALLIS||17-Jun-20||Final Dividend – Rs. – 2.50||TATACHEM||22-Jun-20||Final Dividend – Rs. – 11.00|
|SINCLAIR||17-Jun-20||Stock Split From Rs.10/- to Rs.2/-||BAYERCROP||23-Jun-20||Interim Dividend – Rs. – 90.00|
|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|
|MOTOGENFIN||19-Jun-20||Stock Split From Rs.10/- to Rs.5/-||LAURUSLABS||1-Jul-20||Final Dividend – Rs. – 1.00|
|SCHAEFFLER||19-Jun-20||Final Dividend – Rs. – 35.00||SUNDARMFIN||2-Jul-20||Final Dividend – Rs. – 3.00|
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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