outlookNIFTY:

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.

Get All Your Mutual Fund Portfolio Retuns on Your Mobile by Elite Kuber App

Elite-Kuber-Mutual-Fund-Promotional-Banner-img

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

Get Stock Market Recommendation By Our Research Analysts

Market-Research-Promotional-Banner-img5

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

Open Your Demat Account to Invest in Upcoming IPO’s

Demat-and-Trading-Account-Promotion-Banner

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


For Daily Share Market Updates, Daily debt market review, Market Research Analysis reports, Weekly Techno-Funda Report, Fundamental Analysis Report, Monthly Recommended stock Picks, Equity Trading Tips, Upcoming IPO/NFO/Bonds/Ncd’s updates & other related information Subscribe our research plan