NIFTY:

Nifty had a directional day today- all the way up. Nifty opened a little lower than yesterday, then began an up move and the up move never stopped. It finally ended the day at the highs of the day closing at 10091,up 210 points. We had already discussed that the index is trading between a wide range whose lower boundary is 9488 and upper boundary is 10175. today’s directional move may pull nifty to the upper channel of this range.

The long term trend of the market had changed to up a few days ago. This uptrend remains intact. Momentum on the long term suggest a consolidation or dip.

One can trade this wide range in two ways-

First way is- short nifty at 10175 levels if index faces resistance there with a strict stop loss.

Second way is- if nifty breaks the  10175 level go long  with a strict stop loss.

BANK NIFTY:

Bank nifty opened at 20137 a little lower than yesterday, and quickly formed a base at opened level only and then headed towards north throughout the day, finally closed at 20956.30 up 755 points.

Largely both private as well as public banks were contributors in index gain.

today’s quick move is indicating that index may go up to test the upper end of the wide trading range that is ( 17500 – 21500).

As we have already discussed that for bank nifty we should wait for  close beyond this wide range ( 17500 – 21500) to initiate any trade.

TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
HDFC BANK 1019.95 BUY The stock has corrected after a rally and has started an up move again. Traders should buy  between 1005- 1010 with a stop at 991 and target of  1050
BALKRISHNA 1221.80 BUY The short term trend is strong. The stock has given breakout on intraday as well as on daily chart. The stock can be bought above 1225  with a stop loss of  1212 and for the target of  1255.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
RELIANCE 1660CE BUY 35.90 33 25 55 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
MUTHOOTFIN.20.06 Jun 1145.95 15.82 91.62 3225000 IGL.20.06 Jun 449.7 -5.35 16.79 8485125
BHEL.20.06 Jun 31.9 15.79 23.33 54371200 BATAINDIA.20.06 Jun 1317.9 -0.16 11.28 1274900
MANAPPURAM.20.06 Jun 149.45 4.55 16.29 17046000 CUMMINSIND.20.06 Jun 369.65 -3.77 9.27 1178100
BANKNIFTY.20.06 Jun 20912.65 3.8 12.64 1995620 SRF.20.06 Jun 3614.7 -0.42 4.64 552250
L&TFH.20.06 Jun 64 4.32 11.47 23721600 VOLTAS.20.06 Jun 544.75 -0.19 4.44 3598000
                                                                        Short Covering                                                                              Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
TATAMOTORS.20.06 Jun 96.4 1.1 -23.04 64891300 NMDC.20.06 Jun 82.55 -3.11 -10.96 25452000
VEDL.20.06 Jun 107.15 5.1 -15.8 75932500 IDEA.20.06 Jun 9.75 -1.52 -10.73 2.15E+08
HDFC.20.06 Jun 1854.35 3.47 -12.93 22442250 ESCORTS.20.06 Jun 991.15 -0.93 -10.01 2987600
CHOLAFIN.20.06 Jun 176.8 5.46 -10.5 6517500 HINDUNILVR.20.06 Jun 2046.95 -0.63 -8.46 16536600
SBIN.20.06 Jun 179.95 4.02 -9.94 1.08E+08 PETRONET.20.06 Jun 260.35 -0.55 -6.5 11487000

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Power Grid Corporatio 13 165.45 3.73 11093113 9791375 61.35 Nifty Bank 20956.3 3.74 24629970
Info Edge (india) Lim 21 2758.9 -1.43 263110 267612 61.05 Nifty Metal 1998.65 3 257710599
Hcl Technologies Ltd. 16 578.95 0.54 1918329 2040417 57.12 Nifty 50 10091.65 2.13 50954602
Oil & Natural Gas Cor 22 83.6 -0.71 18460702 8791595 56.94 Nifty Energy 14023.45 2.04 3149336
Infosys Limited 16% 713.9 1.46 6670206 3882325 53.24 Nifty Media 1360.65 1.73 376489817
Divi S Laboratories L 14 2310.45 0.45 304466 354136 50.63 Nifty Fmcg 28648.7 0.76 814698
Dabur India Ltd. 12% 440 -0.11 3947082 2403530 49.82 Nifty Auto 6535.9 0.5 78351435
Tata Consumer Product 21 372.15 0.69 1929542 1256424 49.14 Nifty it 14551.25 0.5 989365
Nestleind 15% 16178.95 -0.12 158448 61563 48.49 Nifty Pharma 9975.3 -0.02 51165083
Itc Ltd. 15% 186.6 2.98 28887658 11630369 48.4 India Vix 31.46 -5.67 157781350

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR: Bank Loan Growth on 19th June, 2020

•INR: FX Reserves, USD on 19th June, 2020

•USA: Fed Chair Powell Speaks  on 19th June, 2020

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NEWS UPDATES

•Saudi Arabia-based Public Investment Fund (PIF) will invest Rs 11,367 crore for a 2.32 per cent equity stake in Mukesh Ambani’s Jio Platforms Limited on a fully diluted basis, making it the 11th company to do so in around two months. The investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. With this investment, Jio Platforms has raised over Rs 1.15 lakh crore (Rs 115,693.95 crore) from leading global.

•ICICI Prudential has announced a 15 per cent higher bonus payout in FY2019-20, totalling Rs 788 crore. This is the 14th consecutive year of bonus payout by the insurer to its policyholders, and the current payout will benefit 9 lakh customers, the company said in a statement on Thursday.

•Reliance Industries Ltd. is closing in on a deal that would see it acquire stakes in some units of Future Group, people familiar with the matter said, a move that would bolster the e-commerce ambitions of the conglomerate and its billionaire Chairman Mukesh Ambani. An agreement between Ambani’s Reliance and Future, which already has a partnership with Amazon.com Inc., could be announced as early as next month, the people said, asking not to be identified as the information isn’t public.

•The World Health Organization’s top scientist says it’s now been definitively proven that the cheap malaria drug hydroxychloroquine — the drug favoured by President Donald Trump — doesn’t work in stopping deaths among people hospitalized with the new coronavirus..

Source: Economic Times,  Moneycontrol  ,Business Today,Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name5 Purpose Ex-Date Company Name Purpose Ex-Date
ANUHPHR Audited Results 19-Jun-20 LICHSGFIN Audited Results;Dividend;General 19-Jun-20
APMFINVEST Audited Results 19-Jun-20 NOVARTIND Audited Results;Final Dividend 19-Jun-20
ASHOKLEY General 19-Jun-20 OIL Audited Results 19-Jun-20
BAJAJELEC Audited Results;General 19-Jun-20 PNB Audited Results 19-Jun-20
CADILAHC Audited Results 19-Jun-20 PRIMESECU Audited Results 19-Jun-20
CENTURYPLY Audited Results;General 19-Jun-20 PTC Audited Results;Final Dividend 19-Jun-20
CFEL Audited Results 19-Jun-20 RAMCOCEM Audited Results 19-Jun-20
CORALAB General 19-Jun-20 RAMCOIND Audited Results 19-Jun-20
CSL Audited Results;Pref. Issue 19-Jun-20 UNICHEMLAB Audited Results;Dividend 19-Jun-20
FEDERALBNK General 19-Jun-20 WARDINMOBI General 19-Jun-20
KIRLOSENG Audited Results 19-Jun-20 ZUARI Audited Results 19-Jun-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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/- NAM-INDIA 29-Jun-20 Final Dividend – Rs. – 2.00
SCHAEFFLER 19-Jun-20 Final Dividend – Rs. – 35.00 SANOFI 29-Jun-20 Final Dividend – Rs. – 106.00
SHREDIGCEM 22-Jun-20 Dividend – Rs. – 1.50 SANOFI 29-Jun-20 Special Dividend – Rs. – 243.00
TATACHEM 22-Jun-20 Final Dividend – Rs. – 11.00 LAURUSLABS 1-Jul-20 Final Dividend – Rs. – 1.00
BAYERCROP 23-Jun-20 Interim Dividend – Rs. – 90.00 HINDPETRO 2-Jul-20 Final Dividend – Rs. – 9.75
CASTROLIND 26-Jun-20 Interim Dividend – Rs. – 3.00 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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