NIFTY:
The NIFTY had a narrow range day on Friday, after opening lower, then begin fairly choppy throughout the day, finally closing with a loss of just 5.9 points, about 0.06%. The index recovered from its intraday lows, to close almost near the break down area of 9150.
Has the trading range broken down?
Friday was the second day when the index moved decisively below 9150, although it did close very near the support zone. Friday morning when the index slipped at the open, there was a short trade possible based on the assumption that the trading range had finally broken down. If the two-day excursion outside the support area is also a false move, we will have to get stopped out on Monday. If any short position has been taken, stops for the position should be very tight, at 9200.
If the NIFTY were to open lower than 9150, we should conside holding or initiating a short position, with a stop at 9200. Any value at the open above 9150 is a buying opportunity with a stop at 9100.
TECHNICAL PICKS
| COMPANY . | CMP | B/S | RATIONALE |
| HINDUNILVER | 2032.10 | BUY | The intermediate and short-term trends are sideways in HINDUNILVR. Prices are narrowing day by day suggesting a sharp move is about to come preferably on upside. Should buy above 2042 with a stop loss of 2012 and a target of 2102. |
| HINDPETRO | 189.10 | SELL | The intermediate and short-term trends are down in HINDPETRO. Prices are now at the verge of breakdown from a bearish pattern of descending triangle. Should look for a shorting opportunity below 188 with a SL of 193 & a TGT of 178. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| ASIANPAINT | 1540 CE | BUY | 57.50 | CMP | 47 | 75-87 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| ESCORTS.May 28 | 822.5 | 3.33 | 15.71 | 2674100 | CUMMINSIND.May 28 | 339.1 | -2.85 | 28.26 | 1842300 | |
| MUTHOOTFIN.May 28 | 822 | 0.26 | 9.18 | 1881750 | UBL.May 28 | 916.6 | -2.56 | 19.16 | 931700 | |
| MANAPPURAM.May 28 | 127.3 | 3.29 | 8.17 | 15246000 | EQUITAS.May 28 | 49.65 | -3.87 | 16.56 | 7379400 | |
| NATIONALUM.May 28 | 29 | 1.4 | 7.57 | 23762700 | PVR.May 28 | 843.65 | -4.55 | 12.1 | 1493600 | |
| INDIGO.May 28 | 982.85 | 1.93 | 7.24 | 3512700 | BANKNIFTY.May 28 | 18807.7 | -1.21 | 10.36 | 1301840 | |
| Short Covering | Long unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| RAMCOCEM.May 28 | 574.4 | 5.15 | -12.81 | 452000 | JUSTDIAL.May 28 | 349.25 | -1.91 | -10.35 | 1589000 | |
| APOLLOHOSP.May 28 | 1351.9 | 4.42 | -12.71 | 879000 | INFRATEL.May 28 | 202.5 | -2.74 | -8.82 | 7442000 | |
| BEL.May 28 | 67.7 | 6.03 | -7.05 | 24768000 | APOLLOTYRE.May 28 | 91.55 | -1.24 | -8.19 | 6189000 | |
| EXIDEIND.May 28 | 154.45 | 2.56 | -6.31 | 4564600 | NIFTYIT.May 28 | 13208 | -0.44 | -7.89 | 1750 | |
| HINDUNILVR.May 28 | 2037.55 | 1.23 | -6.09 | 17011800 | GODREJPROP.May 28 | 625.35 | -4.27 | -7.63 | 283400 | |
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Top Delivery Percentage
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| GMR Infrastructure Limit | 18.1 | 0 | 6242274 | 4216274 | 60.4 | Nifty Metal | 1742.6 | 1.61 | 250278441 | |
| Hindustan Unilever Ltd | 2032.1 | 1.3 | 5491176 | 4849800 | 56.99 | Nifty Energy | 12615.45 | 1.04 | 4362602 | |
| TECH MAHINDRA LIMITED | 510.55 | -1 | 3628560 | 3423592 | 55.68 | Nifty FMCG | 26958.65 | 0.09 | 1393509 | |
| Petronet LNG Limited | 227.95 | -1.51 | 1000012 | 822749 | 54.43 | Nifty 50 | 9136.85 | -0.06 | 47665855 | |
| Pidilite Industries Ltd | 1373.25 | 0.9 | 539398 | 342790 | 51.52 | INDIA VIX | 38.02 | -0.42 | 114385476 | |
| Power Grid Corporation o | 159.8 | -0.62 | 11256556 | 7588572 | 51 | Nifty IT | 13196.35 | -0.73 | 1547644 | |
| ASIAN PAINTS LIMITED | 1552.95 | 2.01 | 2860615 | 1290710 | 49.79 | Nifty Pharma | 9093 | -0.86 | 47749459 | |
| TATA CONSUMER PRODUCTS | 352.2 | -2.92 | 9452903 | 2505041 | 48.92 | Nifty Auto | 5745.7 | -1.01 | 75465247 | |
| Infosys Limited | 652.3 | -0.89 | 9255353 | 8182759 | 48.45 | Nifty Bank | 18833.95 | -1.23 | 23013600 | |
| Page Industries Limited | 17642.9 | 0.17 | 23395 | 9825 | 47.42 | Nifty Media | 1137.35 | -1.82 | 380737627 | |
Upcoming Economic Data
| Domestic International | |
| •INR: M3 Money Supply on 20th May, 2020
•INR: Bank Loan Growth on 22nd May, 2020 |
•USA: Building Permits (Apr) on 19th May, 2020
•USA: Crude Oil Inventories on 20th May, 2020 |
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News Updates
| •Finance Minister Nirmala Sitharaman has walked a tightrope between providing relief, taking care of the fiscal space and avoiding a sovereign rating downgrade while announcing Stimulus 2.0 to tide over the coronavirus crisis, and the measures have fallen short of market expectations.
•General Atlantic, an US investment firm, will be investing Rs. 6,600 crore in Jio Platforms for 1.34% stake in the telecom unit of Reliance Industries, the company said in a statement. General Atlantic had in the past helped fund Airbnb Inc. and Uber Technologies Inc. •RBL Bank, which derives 18 per cent of its loan portfolio from credit cards, is expecting new plastic issuances to halve and a fall in spends as well in FY21 but is confident of the overall revenues from the segment remaining intact, a senior official has said. However, the economic climate will result in an increase in credit costs, or money being set aside for possible loan losses, by over 30 per cent in the cards segment, the official told. •Finance Minister Nirmala Sitharaman on Saturday announced easing of restrictions on utilisation of Indian air space, benefiting civil aviation sector by about Rs 1,000 crore per year. Announcing the fourth tranche of economic stimulus, she said only 60 per cent of Indian airspace is freely available. Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name5 | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ASHFL | General | 18-May-20 | GUJTHEM | Audited Results;Final Dividend | 18-May-20 |
| ASTRAZEN | Audited Results | 18-May-20 | LALPATHLAB | Audited Results | 18-May-20 |
| BENARA | General | 18-May-20 | LLOYDSME | Audited Results;Issue Of Warrants;General | 18-May-20 |
| BHARTIARTL | Audited Results;Final Dividend | 18-May-20 | MAHSCOOTER | Audited Results | 18-May-20 |
| DECNGOLD | Audited Results | 18-May-20 | SAURASHCEM | Audited Results | 18-May-20 |
| DELTACORP* | Audited Results;Final Dividend | 18-May-20 | TORNTPOWER | Audited Results | 18-May-20 |
| DHAMPURE | General | 18-May-20 | URJAGLOBA | General | 18-May-20 |
| GLAXO | Audited Results;Final Dividend | 18-May-20 | VEDL | Voluntary Delisting of Shares | 18-May-20 |
Corporate Action
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| VOLTAMP | 18-May-20 | Dividend – Rs. – 25.00 | INFY | 29-May-20 | Final Dividend – Rs. – 9.50 |
| ACC | 19-May-20 | Interim Dividend – Rs. – 14.00 | INDIGRID | 1-Jun-20 | Income Distribution (InvIT) |
| AMBUJACEM | 19-May-20 | Interim Dividend – Rs. – 1.50 | DICIND | 10-Jun-20 | Final Dividend – Rs. – 4.50 |
| HINDZINC | 19-May-20 | Interim Dividend – Rs. – 16.50 | KANSAINER | 12-Jun-20 | Dividend – Rs. – 3.15 |
| OFSS | 19-May-20 | Interim Dividend – Rs. – 180.00 | AVANTEL | 17-Jun-20 | Final Dividend – Rs. – 2.00 |
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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