outlookNIFTY:

For the bulls, today’s price action was disappointing. Yesterday, US markets went through her massive rally, thanks to positive news on the corona front.

The Indian markets opened better, with a gap up of almost 150 points. Then they built on this gap and crossed 9000. But, the rally was sold into, apparently. The NIFTY began a downtrend, and finally closed much lower at 8879, up by 55 points or 0.63%. The intraday high for the NIFTY was 9030, and therefore, the index actually fell 160 points from its high. Almost every day, gains in the index are begin immediately sold into.

News from the coronavirus front

Good news: COVID-19 patients testing positive after recovery are not infectious, study shows. A detailed study in South korea says that patients recovering from COVID-19 may test positive again, but are not carrying the infection. This is good news because it means that an infected patient become immune to the virus.

Investing

from a high of 9800 just 10 days ago, the NIFTY has come down to 8879. We have already told that we must be patient and wait for significant decline to begin investing. We think that such a decline has already started.

Trading

Traders should look mainly for intraday trades.

TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
       TATACONSUM 357.65 BUY The intermediate and short-term trends are up in TATACONSUM. Prices are trading range bound and at the verge of breakout We may seen an upside move here. Should buy above 359  with a SL of 354 and a target of 369.
      HAVELLS 469.10 SELL The immediate trend of the stock is weak . Prices are now trading near its support around 470. we may see a breakdown here. Should look for a selling opportunity below 467 with a stop just above 475 and a target around 451.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
AXISBANK 360 PE BUY 20.20 CMP 13.50 35 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
INFRATEL.May 28 214.9 4.65 21.9 9508000 SBILIFE.May 28 705.15 -1.49 249.42 2248500
TORNTPOWER.May 28 303.5 2.55 19.61 2580000 BANKNIFTY.May 28 17440 -0.52 18.88 1664580
ADANIPOWER.May 28 36.1 16.64 17.39 68650000 JUBLFOOD.May 28 1478 -2.54 18.32 2383500
BALKRISIND.May 28 950.05 3.26 16.74 825600 VOLTAS.May 28 439 -0.35 15.22 4148000
ESCORTS.May 28 824.95 2.09 16.6 2503600 TORNTPHARM.May 28 2492.15 -0.03 13.19 858000
                                                                        Short Covering                                                                              Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
TATASTEEL.May 28 272.45 2.68 -8.19 17176500 NIFTYIT.May 28 13231 -0.46 -20 1400
GLENMARK.May 28 331.75 2.14 -4.73 3413200 YESBANK.May 28 27.45 -0.9 -8.59 25106400
GRASIM.May 28 513.2 3.69 -4.37 17640750 BHEL.May 28 25.35 -2.31 -1.06 50294400
NATIONALUM.May 28 28 1.63 -1.85 23587200 GMRINFRA.May 28 17.35 -0.86 -0.72 43425000
BIOCON.May 28 336.8 1.42 -1.68 15743500 UBL.May 28 877.45 -0.27 -0.43 967400

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Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Unilever Ltd 1975.55 -1.48 5963269 5220095 68.01 Nifty Media 1081.55 2 92244
Power Grid Corporation o 158.05 2.3 6905554 11990416 64.79 Nifty Metal 1693.55 1.2 92244
SBI LIFE INSURANCE COMPA 702.95 0.31 1496673 1076423 63.1 Nifty Auto 5486.15 1.03 92241
HDFC LIFE INSURANCE COMP 471.75 0.51 5129797 2425278 59.03 Nifty IT 13446.6 0.99 92241
NESTLEIND 16150.3 -0.55 118144 92377 55 Nifty FMCG 26895.75 0.75 92241
GAIL (India) Limited 81.85 1.05 17936322 7427623 51.44 Nifty 50 8879.1 0.63 92241
Godrej Cons Products Ltd 554 3.06 2041588 1147877 51.35 Nifty Energy 12247.7 0.27 92241
HDFC Ltd. 1539.85 1.84 9261076 4313815 50.99 Nifty Pharma 9084.6 -0.09 92241
NTPC Limited 91.05 2.42 12262139 5473875 48.15 Nifty Bank 17486.25 -0.49 92241
TATA CONSUMER PRODUCTS 358.05 3.15 5696557 1969193 47.09 INDIA VIX 39.45 -3.59 92241

Upcoming Economic Data

   Domestic                                                                                                                                                  International
•INR:  M3 Money Supply on 20th May, 2020

•INR:  Bank Loan Growth on 22nd May, 2020

•USA: Crude Oil Inventories on 20th May, 2020

•USA: Initial Jobless Claims on 21st May, 2020

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News Updates

•Bajaj Finance Ltd.’s quarterly profit fell as the non-bank lender set aside contingent funds to deal with the coronavirus crisis and on a more than twofold jump in its impairment expenses. The Pune-based company’s profit fell 20 percent year-on-year to Rs 892 crore in the quarter ended March, according to an exchange filing. Net interest income rose 38 percent to Rs 4,459 crore. Bajaj Finance set aside Rs 850 crore as provisions for the Covid-19 pandemic.

•Godfrey Phillips India on Tuesday said its wholly-owned arm International Tobacco Co Ltd has partially resumed manufacturing operations at Ghaziabad plant after relaxation in lockdown guidelines. International Tobacco Co Ltd, which does contract manufacturing exclusively for the company, resumed partial operations with restricted capacity and manpower at its Ghaziabad factory, Godfrey Phillips India (GPI) said in a regulatory filing.

•Bata India for the first time is contemplating home delivery of footwear in an attempt to explore newer opportunities presented due to the novel coronavirus, or COVID-19, lockdown. Sandeep Kataria, MD of Bata India, said relationships are going be key for survival of the businesses, so retailers will have to mould themselves to grow.

•Foreign investors turner net sellers in March quarter and pulled out $6.4 billion from the Indian equity markets largely due to the COVID-19 outbreak.

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

BOARD MEETINGS

Company Name5 Purpose Ex-Date Company Name Purpose Ex-Date
AJANTPHARM Audited Results 20-May-20 JSWENERGY Audited Results;Final Dividend;General 20-May-20
BAJAJ-AUTO Audited Results 20-May-20 JUBLFOOD Audited Results;Quarterly Results 20-May-20
BSOFT Final Dividend;Quarterly Results 20-May-20 KALPATPOWR A.G.M.;Buy Backs;Dividend;Quarterly Results 20-May-20
CHENNPETRO Audited Results;Dividend 20-May-20 MATRIMONY Audited Results;Final Dividend 20-May-20
CONTROLPR General 20-May-20 TATASTLBSL Audited Results 20-May-20
DRREDDY Audited Results;Final Dividend 20-May-20 TGVSL Preferential Issue of shares 20-May-20
GRINDWELL Audited Results;Dividend 20-May-20 UGROCAP Audited Results 20-May-20
JKLAKSHMI Audited Results 20-May-20 ULTRACEMCO Audited Results;Final Dividend;General 20-May-20

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
INFY 29-May-20 Final Dividend – Rs. – 9.50 KANSAINER 12-Jun-20 Dividend – Rs. – 3.1500
INDIGRID 1-Jun-20 Income Distribution (InvIT) AVANTEL 17-Jun-20 Final Dividend – Rs. – 2.00
DICIND 4-Jun-20 Final Dividend – Rs. – 4.50 TATACONSUM 18-Jun-20 Final Dividend – Rs. – 2.70
DICIND 4-Jun-20 Final Dividend – Rs. – 4.50 SANOFI 29-Jun-20 Final Dividend – Rs. – 106.00
PAPERPROD 11-Jun-20 Final Dividend – Rs. – 3.00 SANOFI 29-Jun-20 Special Dividend – Rs. – 243.00

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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