NIFTY:
The nifty opened up with a gap of almost 80 points, but could not sustain this gap up. After the first 15 minutes, the index started falling, with one intraday rally which failed to touch the early morning high. The market slid throughout the day. Reaching a low of 10267 before staging a small rally to close at 10302. the nifty has been in a narrow range for almost 4 days now.
The nifty has been moving inside a trading range with 10228 as support and 10518 as resistance. The trading range continued to be maintained today, as the nifty remained within these boundaries.
The narrow range mentioned above has become even narrower. The new range boundaries are, support at 10220 and resistance at 10415. A breakout or a breakdown from these boundaries should be a tradable opportunity.
BANK NIFTY:
Bank nifty opened at 21524.30 with a gap up of 154 points. The index move further up and recorded its intraday high at 21650. after that a sharp decline brought prices to its intraday low at 21212. the index finally closed at 21370.
Bank nifty remained inside its trading range 19500 – 21600. the index is trading very narrow near the top of this range.
Last four days were very narrow. That gives us a setup to take a trade. We should take a trade in the direction of momentum. Direction may clear if index either breaks above 21800 or trade below 20900.
TECHNICAL PICKS
| COMPANY . | CMP | B/S | RATIONALE |
| HEROMOTO | 2546.95 | BUY | Intermediate and short term trends are up. The stock is trading above its breakout level with positive bias. It can be bought above 2555 with a stop loss at 2535 for the target of 2590 |
| DIVISLAB | 2278.90 | SELL | The immediate trend of the stock is sideways. After trading in a tight range today price has broken a trend line . It can be sold below 2265 with a stop loss above 2290 and for the target of 2200 |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| LUPIN | 910CE | BUY | 37 | CMP | 35.50 | 40 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| BEL.20.07 Jul | 87.7 | 0.86 | 50.15 | 29670400 | PETRONET.20.07 Jul | 256.85 | -2.17 | 24.09 | 15765000 | |
| JINDALSTEL.20.07 Jul | 161.75 | 5.62 | 39.02 | 20665000 | HINDPETRO.20.07 Jul | 207.55 | -3.8 | 20.09 | 21983400 | |
| BALKRISIND.20.07 Jul | 1268 | 2.12 | 16.65 | 936000 | ASHOKLEY.20.07 Jul | 46.95 | -3.2 | 17.53 | 46395000 | |
| SAIL.20.07 Jul | 30.4 | 2.53 | 15.44 | 51281000 | IBULHSGFIN.20.07 Jul | 207 | -3.83 | 17.28 | 12266700 | |
| BANKNIFTY.20.07 Jul | 21238 | 0.01 | 14.78 | 1324600 | ITC.20.07 Jul | 195.35 | -1.04 | 16.74 | 90096000 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| SUNTV.20.07 Jul | 402.3 | 1.62 | -3.31 | 5166000 | CENTURYTEX.20.07 Jul | 293.45 | -1.28 | -8.38 | 2265200 | |
| BRITANNIA.20.07 Jul | 3600.05 | 2.25 | -0.35 | 1786800 | IDEA.20.07 Jul | 10.65 | -4.91 | -5.11 | 4.05E+08 | |
| CANBK.20.07 Jul | 100.6 | -0.84 | -4.51 | 9415000 | ||||||
| JUSTDIAL.20.07 Jul | 377.95 | -2.78 | -3.75 | 1617000 | ||||||
| NIITTECH.20.07 Jul | 1405.15 | -1 | -1.69 | 565875 | ||||||
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TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Divi S Laboratories Limi | 2278.9 | -1.63 | 684183 | 299078 | 57.62 | Nifty Auto | 6719.15 | 1.1 | 73103964 | |
| Icici Prudential Life In | 425.8 | 3.77 | 2693858 | 1506702 | 57.13 | India Vix | 29.12 | 0.73 | 168461163 | |
| Sbi Life Insurance Compa | 806.45 | 2.5 | 2052185 | 330433 | 55.31 | Nifty Fmcg | 30063.25 | 0.31 | 1140391 | |
| Info Edge (india) Limite | 2761.85 | -0.09 | 263780 | 148090 | 52.94 | Nifty Metal | 1991.35 | 0.09 | 244949981 | |
| Torrent Pharma Ltd. | 2372.1 | -2.69 | 594367 | 215353 | 52.18 | Nifty Bank | 21370.15 | 0.05 | 22897515 | |
| Ultratech Cement Limited | 3893.55 | 2.27 | 494001 | 358866 | 51.85 | Nifty it | 14754.3 | -0.09 | 1431638 | |
| Hdfc Ltd. | 1754.65 | 0.78 | 6325171 | 2033047 | 51.48 | Nifty 50 | 10302.1 | -0.1 | 47531879 | |
| Bosch Limited | 11418.1 | 4.23 | 66203 | 17631 | 49.54 | Nifty Realty | 202.65 | -0.52 | 2147483500 | |
| Nmdc Limited | 81.15 | 0.19 | 7607625 | 3957328 | 49.53 | Nifty Energy | 14396.55 | -1.32 | 2551526 | |
| Bharti Airtel Limited | 559.85 | -1.28 | 12936547 | 6233452 | 48.24 | Nifty Pharma | 9985.15 | -1.49 | 48744610 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| •INR: Nikkei Markit Manufacturing PMI (Jun) on 1th July, 2020
•INR: Nikkei Services PMI (Jun) on 3rd July, 2020 |
•USA: ISM Manufacturing PMI (Jun) on 1st July, 2020
•USA: Crude Oil Inventories on 1st July, 2020 |
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NEWS UPDATES
| •Supply chain disruptions in the wake of COVID-19 outbreak coupled with weak demand for vehicles in India and overseas is likely to squeeze the revenue of the automotive component sector by 16 per cent this fiscal, says a report. This will add to the pain from an estimated de-growth of 10 per cent in the industry’s revenue to Rs 3.2 lakh crore last fiscal, Crisil Ratings said in its report on Tuesday.
•Berger Paints India Ltd. sees demand rebounding in Indian villages that have been relatively protected from the coronavirus outbreak, allowing the country’s second-biggest paintmaker to recoup some of its lockdown-related losses. The company, based in Kolkata, expects rural demand to revive in June while that in cities will take at least another two months, Chief Executive Officer Abhijit Roy said by phone. Berger Paints typically counts April, September and October as its key months for sales, the first of which was a “washout” because of India’s shelter-at-home rules. •India’s federal fiscal deficit in the first two months through May stood at Rs 4.66 trillion ($61.67 billion), or 58.6% of the budgeted target for the current fiscal year, government data showed on Tuesday. Net tax receipts during April-May period were Rs 33, 850 crore ($4.48 billion), while total expenditure was Rs 5.12 trillion, the data showed, indicating the government was front-loading its budgeted spending to combat the impact of pandemic. Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name5 | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| BUDGE BUDGE | Audited Results;Quarterly Results | 1-Jul-20 | DVL | Audited Results;Dividend | 3-Jul-20 |
| CONTICON | Audited Results | 1-Jul-20 | GATI | Audited Results;Quarterly Results | 3-Jul-20 |
| EVEREADY | Audited Results;Dividend | 1-Jul-20 | INDGELA | Audited Results;Dividend | 3-Jul-20 |
| INTENTECH | Audited Results;Dividend | 1-Jul-20 | INDOGLOBAL | Audited Results | 3-Jul-20 |
| PREMCAPM | Audited Results | 1-Jul-20 | IWP | Audited Results;Dividend | 3-Jul-20 |
| TEJASSVI | Audited Results | 1-Jul-20 | KAMAHOLD | Audited Results;Final Dividend | 3-Jul-20 |
| MAHSEAMLES | Audited Results;Dividend | 2-Jul-20 | KUANTUM | Results;Dividend;General;Stock Split | 3-Jul-20 |
| WPIL | Audited Results | 2-Jul-20 | PRAVEG | Audited Results;Final Dividend | 3-Jul-20 |
| ADCINDIA | General | 3-Jul-20 | RAHME | Audited Results | 3-Jul-20 |
| DCMFINSERV | Audited Results | 3-Jul-20 | SAIL | Audited Results | 3-Jul-20 |
| DUROPLY | A.G.M.;Results;Quarterly Results | 3-Jul-20 | SHIVAAGRO | Audited Results;Quarterly Results | 3-Jul-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| LAURUSLABS | 1-Jul-20 | Final Dividend – Rs. – 1.00 | MPHASIS | 2-Jul-20 | Final Dividend – Rs. – 35.00 |
| TATAINVEST | 1-Jul-20 | Dividend – Rs. – 18.00 | RELIANCE | 2-Jul-20 | Dividend – Rs. – 6.50 |
| AMRITCORP | 2-Jul-20 | Buy Back of Shares | SUNDARMFIN | 2-Jul-20 | Final Dividend – Rs. – 3.00 |
| BALRAMCHIN | 2-Jul-20 | Buy Back of Shares | SWARAJENG | 2-Jul-20 | Dividend – Rs. – 25.00 |
| HINDPETRO | 2-Jul-20 | Final Dividend – Rs. – 9.7500 | SWARAJENG | 2-Jul-20 | Special Dividend – Rs. – 15.00 |
| JUSTDIAL | 2-Jul-20 | Buy Back of Shares | TAHL | 2-Jul-20 | Bonus issue 1:4 |
| KARDA | 2-Jul-20 | Stock Split From Rs.10/- to Rs.2/- | ITC | 6-Jul-20 | Dividend – Rs. – 10.1500 |
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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