outlookNIFTY:

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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