outlookNIFTY:

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:

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.

TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
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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DERIVATIVE PICKS

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
Sector Price Price% OI% OI Sector Price Price% OI% OI
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
Sectors Price Change % Quantity
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

   Domestic                                                                                                                                                  International
•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

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News Updates

•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

BOARD MEETINGS

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

Corporate Action

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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