outlook

NIFTY:

The NIFTY had a day filled with drama. The NIFTY opened almost unchanged from Friday at 9158, and then started a sharp and sudden decline barely one minute after open. The decline never found support, and the index fell 300 points intraday. Finally the index closed at 8823, down 3.43%, almost 313 points.

The market decline was almost in a straight line. There was a period when the index had a rally of almost hundred points but that was quickly sold into. The big decline came from 09:20 AM to 11:30 AM and then the market drifted sideways, finally closing at the low of the day. The day’s decline was even more surprising given the context of a rally in the USA on Friday and cheerful markets in Asia. Well, the market always knows more than we do.

PSU and PVT BANKS both have performed same today and closed lower by almost 6%. Within the index, in terms of points, HDFC BANK contributed highest on the downside followed by ICICI BANK

TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
       TCS 1945.60 BUY The intermediate and short-term trends are up in TCS. Prices are trading range bound and finding strong support  around 1890-1900  zone. We may seen an upside move here. Should buy above 1950  with a SL of 1920 and a target of 2015.
      BAJFINANCE 1945 SELL The immediate trend of the stock is weak . The stock can be sold  below 1925  with a stop loss of  1978 and for  the target of  1850.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
LUPIN 850 CE BUY 30.80 CMP 24 43 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
APOLLOTYRE.May 28 91.9 0.38 53.95 9528000 SBILIFE.May 28 699.6 -2.27 240.68 2192250
TORNTPHARM.May 28 2500 1.79 12.64 869000 CHOLAFIN.May 28 127 -14.96 40.65 9065000
INFRATEL.May 28 205.7 1.58 10.48 8222000 EQUITAS.May 28 41.9 -15.61 29.61 9564800
MINDTREE.May 28 881.85 3.4 9.74 901600 PVR.May 28 725 -14.06 21.4 1813200
PAGEIND.May 28 17690 0.63 9.19 135800 BEL.May 28 65 -3.99 19.36 29562000
                                                                        Short Covering                                                                              Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
NIFTYIT.May 28 13325 0.89 -14.29 1500 ESCORTS.May 28 809.55 -1.57 -15.51 2259400
COLPAL.May 28 1380.25 2.35 -5.8 1330700 IDEA.May 28 4.65 -6.06 -11.83 3.8E+08
BIOCON.May 28 332.55 0.94 -1.89 16231100 NCC.May 28 22.05 -7.74 -8.06 18378000
ITC.May 28 165.3 0.24 -0.18 39244800 ZEEL.May 28 148.2 -9.91 -7.24 25474500
CENTURYTEX.May 28 255.05 -7.44 -6.06 2305800

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Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
GMR Infrastructure Limit 17.45 -3.59 4767521 4014756 64.32 Nifty IT 13314.4 0.89 84906
Ambuja Cements Ltd 172.15 -5.31 3640919 3976514 64.19 Nifty Pharma 9092.65 0 84909
Power Grid Corporation o 154.5 -3.32 18505341 7000225 62.19 Nifty FMCG 26694.65 -0.98 84909
Torrent Pharma Ltd. 2497.25 1.45 991837 551443 59.34 Nifty 50 8823.25 -3.43 84906
Hindustan Unilever Ltd 2005.25 -1.32 7675796 3216932 58.58 Nifty Metal 1673.5 -3.97 84909
TATA CONSUMER PRODUCTS 347.1 -1.45 4181455 5054912 53.47 Nifty Realty 163.3 -5.33 84909
SBI LIFE INSURANCE COMPA 700.75 -6.81 1705994 535860 51.9 Nifty Auto 5430.05 -5.49 84909
TECH MAHINDRA LIMITED 504.05 -1.27 3283983 1845922 50.87 Nifty Bank 17573.2 -6.69 84906
HDFC LIFE INSURANCE COMP 469.35 -3.68 4108281 1731259 49.27 Nifty Media 1060.35 -6.77 84909
Page Industries Limited 17709.35 0.38 48139 11007 47.05 INDIA VIX 27.94 -26.51 84906

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

•Cement prices are expected to jump by Rs 15-20 per bag initially due to supply constraints even as dealers across the country expect demand to fall by 30% on the back stalled construction projects showed a survey by Crisil.  “Almost all the dealers foresee 10-30% drop in demand in fiscal 2021 due to delay/freeze in construction activity,” the report said. As markets reopen in the second half of May, cement prices are expected to jump Rs 15-20/ bag initially due to supply constraints.

•With the government extending the nationwide lockdown up to May 31, the Reserve Bank of India (RBI) is likely to extend the moratorium on repayment of loans for three more months, according to an SBI research report.

•Maruti Suzuki India (MSI) on Monday said it delivered over 5,000 cars in the past few days with over 1,350 showrooms operational across the country. The company has put in place comprehensive standard operating procedures (SOPs) for all its dealerships, MSI said in a statement.

•In what may come as a major relief to businesses, the Union government has withdrawn its order directing employers to pay wages to workers, even with units remaining shut during lockdown. On Sunday, the Ministry of Home Affairs (MHA) had issued a fresh set of guidelines which will be applicable from Monday.

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

BOARD MEETINGS

Company Name5 Purpose Ex-Date Company Name Purpose Ex-Date
APOLLOTYRE Final Dividend;Audited Results 19-May-20 LTI Final Dividend;Audited Results 19-May-20
BAJFINANCE Audited Results 19-May-20 MPSLTD Audited Results 19-May-20
DRAGARWQ Final Dividend;Audited Results 19-May-20 NESCO Audited Results 19-May-20
EMBASSY Audited Results 19-May-20 NETWORK Audited Results 19-May-20
GABRIEL Dividend;Audited Results 19-May-20 PAUSHAKLTD Final Dividend;Audited Results 19-May-20
GNA Audited Results 19-May-20 PIONDIST Audited Results 19-May-20
GSCLCEMENT Audited Results 19-May-20 PTL A.G.M.;Final Dividend;Quarterly Results 19-May-20
JMCPROJECT Final Dividend;General;Audited Results 19-May-20 RPPINFRA Issue Of Warrants;Preferential Issue 19-May-20

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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 PAPERPROD 11-Jun-20 Final Dividend – Rs. – 3.00
OFSS 19-May-20 Interim Dividend – Rs. – 180.00 KANSAINER 12-Jun-20 Dividend – Rs. – 3.15
INFY 29-May-20 Final Dividend – Rs. – 9.50 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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