NIFTY:
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 |
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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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