NIFTY:
After three volatile sessions, nifty consolidated today and moved in a narrow range of 170 points. At the end NIFTY closed 33 points lower than yesterday at 9881.
The nifty moved inside a narrow range of 170 points, opening with a gap down, then moving up to reach the intraday high of 10003 and then finally moving down again to close near the lows of the day. In short it was a directionless day for the market.
Market is moving in a wide range since many days. Support for this range is 9500 and resistance is 10180.
The nifty has been moving inside this range for seven days now and can continue to be within these boundaries for many more days. A big trade will come if and when the nifty crosses any one of these two boundaries.
Buy NIFTY in dip somewhere around 9700 and sell short at 10050, with a tight stop loss and quick target.
BANK NIFTY:
Bank nifty opened at 20137.45 with a gap down of 114 points. The index first saw an upside rally and recorded its intraday high at 20627.90 and then moves down . Price has closed at 20201.75.
A large consolidation is now visible in the index, boundaries for this consolidation are 17500 as a support and 21500 as a resistance.
Within this wide range a narrow trading range is also visible. Levels for this range are 19500 as a support and 21600 as a resistance. We should wait for a close beyond this range and then plan our trade accordingly.
TECHNICAL PICKS
| COMPANY . | CMP | B/S | RATIONALE |
| BRITANNIA | 3401.45 | BUY | The stock has corrected after a rally and has started an up move again. Traders should buy above 3435 with a stop at 3375 and target of 3520 |
| KOTAKBANK | 1243.80 | 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 below 1235 with a stop loss of 1265 and for the target of 1190 |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| ESCORTS | 1000CE | BUY | 16.30 | 15 | 8 | 32 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| JINDALSTEL.20.06 Jun | 143.95 | 5.69 | 16.38 | 17695000 | TATAMOTORS.20.06 Jun | 94.6 | -5.82 | 11.22 | 82701900 | |
| BALKRISIND.20.06 Jun | 1197.65 | 4.98 | 11.56 | 1443200 | PVR.20.06 Jun | 973.55 | -3.59 | 3.77 | 1442800 | |
| GODREJPROP.20.06 Jun | 819.6 | 0.05 | 10.83 | 425750 | INFRATEL.20.06 Jun | 216.45 | -3 | 3.63 | 10116000 | |
| HEROMOTOCO.20.06 Jun | 2389.45 | 1.67 | 5.31 | 1972800 | ADANIPOWER.20.06 Jun | 36.6 | -2.53 | 1.4 | 34750000 | |
| IGL.20.06 Jun | 475.4 | 0.32 | 4.32 | 7236625 | AXISBANK.20.06 Jun | 381.95 | -1.94 | 10.73 | 67137600 | |
| Short Covering | Long unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| UBL.20.06 Jun | 1001.45 | 0.01 | -12.41 | 1017800 | TORNTPOWER.20.06 Jun | 324.5 | -0.32 | -8.78 | 1527000 | |
| BANKNIFTY.20.06 Jun | 20254.35 | 1.72 | -8.97 | 1634000 | IDEA.20.06 Jun | 9.8 | -3.45 | -7.61 | 2.46E+08 | |
| NIITTECH.20.06 Jun | 1343.75 | 0.85 | -6.24 | 394125 | CADILAHC.20.06 Jun | 360.75 | -2.85 | -5.73 | 7130200 | |
| TATASTEEL.20.06 Jun | 309.5 | 1.24 | -5.68 | 21709500 | BHEL.20.06 Jun | 28.4 | -2.74 | -5.27 | 43035200 | |
| VOLTAS.20.06 Jun | 548.15 | 0.27 | -5.65 | 3473000 | BEL.20.06 Jun | 70.5 | -0.35 | -4.43 | 20688000 | |
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Top Delivery Percentage
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Bharti Airtel Limited 18 | 563.45 | 3.4 | 20531433 | 10186425 | 53.41 | India Vix | 33.35 | 1.56E+08 | 1.15 | |
| Britannia Ind Ltd. 18% | 3401.45 | 1.68 | 1100079 | 350665 | 50 | Nifty Auto | 6503.5 | 80404261 | 0.81 | |
| Godrej Cons Products 16 | 640.25 | 0.93 | 1503226 | 2486479 | 49.93 | Nifty Realty | 198.35 | 2.15E+09 | 0.76 | |
| Hdfc Life Insurance C 22 | 500.4 | -1.05 | 1857859 | 1776348 | 49.63 | Nifty Pharma | 9977.2 | 52294931 | 0.51 | |
| Power Grid Corporatio 13 | 159.5 | -1.97 | 15958954 | 3872406 | 49.27 | Nifty it | 14478.45 | 1438103 | 0.19 | |
| Hindustan Unilever Lt 15 | 2078.25 | 0.09 | 2293343 | 1299150 | 46.29 | Nifty Energy | 13742.95 | 3369280 | -0.27 | |
| Dabur India Ltd. 12% | 440.5 | -1.78 | 4824066 | 1506876 | 44.93 | Nifty 50 | 9881.15 | 52675839 | -0.33 | |
| Tata Consumer Product 21 | 369.6 | 0.15 | 2556996 | 1052584 | 44.92 | Nifty Bank | 20201.75 | 25726707 | -0.47 | |
| Torrent Pharma Ltd. 17% | 2545.55 | 1.86 | 644947 | 189890 | 43.38 | Nifty Fmcg | 28431.75 | 818943 | -0.5 | |
| Infosys Limited 16% | 703.65 | 0.35 | 7291919 | 4145181 | 40.91 | Nifty Metal | 1940.45 | 2.68E+08 | -0.79 | |
Upcoming Economic Data
| Domestic International | |
| •INR: Bank Loan Growth on 19th June, 2020
•INR: FX Reserves, USD on 19th June, 2020 |
•USA: Initial Jobless Claims on 18th June, 2020
•USA: Philadelphia Fed Manufacturing Index (Jun) on 18th June, 2020 |
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News Updates
| •India and China held talks over the phone today in an attempt to de-escalate a border conflict in eastern Ladakh where clashes between troops saw 20 Indian soldiers killed. “At the conclusion of the discussion, it was agreed that the overall situation would be handled in a responsible manner, and both sides would implement the disengagement understanding of June 6 sincerely,” India’s Ministry of External Affairs said in a statement. “Neither side would take any action to escalate matters and instead, ensure peace and tranquillity as per bilateral agreements and protocols,” the statement said.
•Mukesh Ambani’s Reliance Jio is likely to capture 48 per cent of Indian mobile subscriber market share by 2025 with over half a billion users, Bernstein said in a report on Wednesday. It projected Jio’s mobile subscriber base to cross 500 million mark in FY23, up from 388 million in FY20. The subscriber base is expected to touch 569 million in FY25 and 609 million in FY28. Jio’s market share is expected to rise from 36 per cent in FY20 to 40 per cent in the current fiscal and to 48 per cent in FY25, it said. •Welspun Corp, a flagship company of $3 billion Welspun Group, has closed financial year 2019-20 (FY20) with a consolidated net profit of Rs 635.46 crore as against net loss of Rs 13.25 crore in FY19. The total income of pipe manufacturer rose by 10.83 per cent to Rs 10,072.65 crore as compared to Rs 9,088.12 crore in the same period last year. •Bajaj Auto on Wednesday said it has clocked a compound annual growth rate (CAGR) of 10 per cent in the last ten years, with revenue shooting up to Rs 29,919 crore in 2019-20. Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name5 | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| BAJAJCON | Audited Results;Dividend | 18-Jun-20 | STRATMONT | General | 18-Jun-20 |
| BRIGADE | Audited Results | 18-Jun-20 | SUVENPHAR | Audited Results | 18-Jun-20 |
| GREENPANEL | Audited Results | 18-Jun-20 | SYSCHEM | Audited Results | 18-Jun-20 |
| GSFC | Audited Results;Final Dividend | 18-Jun-20 | THERMAX | Audited Results | 18-Jun-20 |
| GUJALKALI | Audited Results;Dividend | 18-Jun-20 | THOMASCOOK | Audited Results;Final Dividend | 18-Jun-20 |
| HIKAL | Audited Results;Final Dividend | 18-Jun-20 | TRIMURTHI | Audited Results | 18-Jun-20 |
| INDRANIB | Audited Results | 18-Jun-20 | VSTTILLERS | Audited Results | 18-Jun-20 |
| IRB | Audited Results;Final Dividend | 18-Jun-20 | WAAREE | Audited Results | 18-Jun-20 |
| KCP | Audited Results | 18-Jun-20 | WELSPLSOL | Audited Results | 18-Jun-20 |
| MOIL | Audited Results;Final Dividend | 18-Jun-20 | WHIRLPOOL | Audited Results;Final Dividend | 18-Jun-20 |
| STERWEB | Audited Results | 18-Jun-20 | WHITHAL | Audited Results | 18-Jun-20 |
Corporate Action
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| TATACONSUM | 18-Jun-20 | Final Dividend – Rs. – 2.70 | CASTROLIND | 26-Jun-20 | Interim Dividend – Rs. – 3.00 |
| HINDUNILVR | 19-Jun-20 | Final Dividend – Rs. – 14.00 | NATCOPHARM | 26-Jun-20 | Interim Dividend – Rs. – 1.00 |
| MOTOGENFIN | 19-Jun-20 | Stock Split From Rs.10/- to Rs.5/- | SANOFI | 29-Jun-20 | Final Dividend – Rs. – 106.00 |
| SCHAEFFLER | 19-Jun-20 | Final Dividend – Rs. – 35.00 | SANOFI | 29-Jun-20 | Special Dividend – Rs. – 243.00 |
| SHREDIGCEM | 22-Jun-20 | Dividend – Rs. – 1.50 | LAURUSLABS | 1-Jul-20 | Final Dividend – Rs. – 1.00 |
| TATACHEM | 22-Jun-20 | Final Dividend – Rs. – 11.00 | HINDPETRO | 2-Jul-20 | Final Dividend – Rs. – 9.75 |
| BAYERCROP | 23-Jun-20 | Interim Dividend – Rs. – 90.00 | 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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