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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