After three days of back-to-back gains, the Nifty was likely to be choppy and volatile. This is exactly what happened from the morning till 1.30 PM. The index was repeatedly below yesterdays close, moving up and down almost randomly. Around 1.30 PM, the Nifty began a rally, entered in to positive territory and added 90 points to close at 9580.
Long – term trend remains down. A relief rally now underway. The rally should continue. The stop for this rally is 9130. the intermediate trend, which is also the trend useful for the traders, is up. When the intermediate trend is up, traders should be looking to buy on dips as well as appropriate breakout. The intermediate trend is now mature, having started from almost 8800 and reaching 9600 in just a few days. The trend would change if the NIFTY were to close below 9485.
The NIFTY is a buying opportunity above 9569. stops for this trade should be at 9485.
When the trend is up, short selling should be avoided as much as possible. This is the message of the market.
Bank Nifty opened at 18962 with a gap down of 194 points. Prices have rallied intraday and closed higher at 19212.45 with a minor gain of 58 points. Private and PSU Banks have performed same today and closed higher. Within the index, in terms of points, SBI contributed highest while Axis Bank contributed lowest.
The Index is trading vey narrow from last two days and moving sideways. This suggests a sharp move may come in next week. We should look for a trading opportunity in the direction of breakout from the range inside 18700-19500.
|HINDUNILVR||2057.35||BUY||The intermediate and short-term trends are up in HINDUNILVR. The price has seen an intraday rally and now trading at the verge of breakout.Should look for a buying opportunity above2045 with a stop loss of 2010 and a target around 2115|
|LICHSGFIN||239.55||SELL||The immediate trend of the stock is weak . The stock has seen a sharp decline and then started a process of consolidation. Should look for a selling opportunity below 236 with a stop just above 243 and a target near 222.|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|ESCORTS||900 CE||BUY||37.55||CMP||29.50||50||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|NMDC.Jun 25||80.85||2.86||9642||29226000||BOSCHLTD.Jun 25||9698.2||40390||-1.82||161960|
|SBILIFE.Jun 25||766.35||2.36||9208.93||3909750||POWERGRID.Jun 25||157.05||10031.82||-0.13||35664000|
|PEL.Jun 25||959.3||0.01||8930.86||4520670||ADANIPORTS.Jun 25||323.6||7135.23||-2.62||34910000|
|GRASIM.Jun 25||583.75||1.46||8456.25||19508250||AXISBANK.Jun 25||382.75||5514.95||-2.4||62191200|
|PETRONET.Jun 25||248.9||4.78||8066||12249000||SHREECEM.Jun 25||20723.7||5428.3||-0.53||146500|
|Short Covering||Long unwinding|
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Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|SBI LIFE INSURANCE COMPA||768.65||2.75||7090368||790562||69.7||Nifty Realty||180.1||4.28||2147483500|
|Power Grid Corporation o||157.55||0.19||35912738||9823447||67.7||Nifty Pharma||9768.6||3.21||85831683|
|Hindustan Unilever Ltd||2057.35||2.36||8779010||3443119||62.59||Nifty FMCG||29296.95||2.97||3364365|
|TATA CONSUMER PRODUCTS||366.9||-1.15||63552596||1994902||58.83||Nifty Metal||1879.85||1.92||445717782|
|Page Industries Limited||18866.4||2.5||128831||14947||51.48||Nifty Auto||6218.8||1.74||134746646|
|HDFC LIFE INSURANCE COMP||523.2||1.24||27247264||1687189||50.42||Nifty 50||9580.3||0.95||87242742|
|Kotak Mahindra Bank Limi||1224||-0.44||5497352||5392668||50.35||INDIA VIX||30.22||0.67||275238781|
|MARICO LIMITED||343.8||4.13||6669558||1764898||47.46||Nifty Bank||19297.25||0.66||43308735|
|Godrej Cons Products Ltd||633.8||4.86||6532211||897255||46.1||Nifty Media||1177.85||-0.04||706132011|
Upcoming Economic Data
|•INR: Nikkei Markit Manufacturing PMI (May) on 1st June, 2020
•INR: Nikkei Services PMI (May) on 3rd June, 2020
|•USA: ISM Manufacturing PMI (May) on 1st June, 2020
•USA: Services PMI (May) on 3rd June, 2020
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|•The family of Yes Bank Ltd.’s late co-founder Ashok Kapur has given up its status as one of the promoters of the bank, putting an end to a turbulent history between the two. Kapur’s wife Madhu Kapur, their children, Shagun Gogia Kapur and Gaurav Ashok Kapur, and Mags Finvest Pvt Ltd (collectively known as Madhu Kapur and group) have agreed to be reclassified as public shareholders of the bank.
•The Banks Board Bureau (BBB) on Saturday recommended names of Ashwini Bhatia, M V Rao and P P Sengupta for the post of managing director of three state-owned lenders — State Bank of India, Central Bank of India and Indian Overseas Bank, respectively. Bhatia is currently serving as deputy managing director (DMD) at SBI, while Rao is executive director with Canara Bank.
•With mass migration of labourers becoming a cause of concern, engineering firm KEC International has decided to adopt mechanisation and automation to compensate for the shortage of workers. The COVID-19 pandemic and the subsequent lockdown prompted millions of jobless migrant workers to flee cities and return to their home towns.
•Listing of Life Insurance Corporation (LIC) and sale of government’s stake in IDBI Bank may be delayed due to weak market situation amid ongoing coronavirus crisis.
Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint
|Company Name5||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|ACEWIN||Half Yearly Results;Audited Results||1-Jun-20||NKIND||Audited Results||1-Jun-20|
|BIRLACABLE||Audited Results||1-Jun-20||ORIENTELEC||Audited Results;Final Dividend||1-Jun-20|
|CIFL||Audited Results;Final Dividend;General||1-Jun-20||ROCKONENT||General||1-Jun-20|
|HINDCOPPER||General||1-Jun-20||SRIPIPES||Dividend;Quarterly Results;Audited Results||1-Jun-20|
|M&MFIN||General||1-Jun-20||UNIVCABLES||Audited Results;Final Dividend||1-Jun-20|
|MAGNAELQ||Audited Results||1-Jun-20||VGUARD||Audited Results;Final Dividend||1-Jun-20|
|MAXINDIA||Amalgamation;General||1-Jun-20||VIAANINDUS||Preferential Issue of shares;General||1-Jun-20|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|COLPAL||1-Jun-20||Interim Dividend – Rs. – 16.00||ESABINDIA||11-Jun-20||Interim Dividend – Rs. – 70.00|
|INDIGRID||1-Jun-20||Income Distribution (InvIT)||NESTLEIND||11-Jun-20||Final Dividend – Rs. – 61.00|
|TCS||3-Jun-20||Final Dividend – Rs. – 6.00||PAPERPROD||11-Jun-20||Final Dividend – Rs. – 3.00|
|DICIND||4-Jun-20||Final Dividend – Rs. – 4.50||KANSAINER||12-Jun-20||Dividend – Rs. – 3.15|
|KKCL||4-Jun-20||Interim Dividend – Rs. – 6.00||TATACOFFEE||12-Jun-20||Dividend – Rs. – 1.50|
|TANLA||9-Jun-20||Buy Back of Shares||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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