NIFTY:
It was an up trending day in the NIFTY where prices have opened near the low and closed near the high. In the morning, NIFTY opened without much of a gap. The index moved higher for the first hour of trading and then started trading sideways. Again in the late afternoon, prices have seen a breakout from an intraday consolidation and then rallied further.
The NIFTY closed at 9066.55, up by 187 points or 2.11%. All the sectoral indices have performed well today and closed with gains. Amongst them, FINANCIAL and PHARMA have led the rally today.
A narrow trading range
A narrow range is visible in the NIFTY which is tradable enough. On Monday May 18, NIFTY traded in a large range inside 8800-9160. Last two days of price action are within these levels. It creates a narrow trading range of 360 points. We should take a trade in the direction of a breakout with a stop around 8980 for both the cases.
Investing
From a high of 9800 just a few 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 such a decline will come sooner rather then later.
TECHNICAL PICKS
| COMPANY . | CMP | B/S | RATIONALE |
| CADILAHC | 337.05 | BUY | The intermediate and short-term trends are up in CADILAHC. Prices are trading range bound and at the verge of breakout We may seen an upside move here. Should buy above 339 with a SL of 333 and a target of 351. |
| SRTRANSFIN | 578.80 | SELL | The immediate trend of the stock is weak . Prices are now trading near its support around 580. we may see a breakdown here. Should look for a selling opportunity below 576 with a stop just above 596 and a target around 536. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| BHARTIARTL | 590 CE | BUY | 15.70 | CMP | 9.30 | 28 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| GODREJPROP.May 28 | 599.9 | 2.89 | 19.26 | 273650 | SRTRANSFIN.May 28 | 582 | -0.55 | 14.09 | 2799000 | |
| JUBLFOOD.May 28 | 1519.7 | 2.89 | 19.15 | 2616500 | IDFCFIRSTB.May 28 | 19.1 | -2.05 | 11.88 | 1.19E+08 | |
| TATASTEEL.May 28 | 284 | 4.37 | 16.62 | 19795500 | HEROMOTOCO.May 28 | 2030 | -1.84 | 10.28 | 2581200 | |
| TORNTPHARM.May 28 | 2572 | 3.24 | 15.89 | 868000 | ASIANPAINT.May 28 | 1496.7 | -0.16 | 7.14 | 5723100 | |
| BAJFINANCE.May 28 | 2061.55 | 5.02 | 14.82 | 6945250 | TCS.May 28 | 1946 | -0.19 | 6.78 | 14743250 | |
| Short Covering | Long unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| IDEA.May 28 | 5.7 | 3.64 | -11.33 | 3.85E+08 | ADANIPOWER.May 28 | 34.8 | -2.25 | -14.4 | 57700000 | |
| SAIL.May 28 | 27.6 | 2.99 | -8.14 | 35984400 | APOLLOTYRE.May 28 | 90.4 | -1.58 | -10.81 | 9129000 | |
| EQUITAS.May 28 | 44.7 | 6.68 | -4.35 | 9055200 | MINDTREE.May 28 | 902.15 | -1.4 | -2.12 | 700800 | |
| GMRINFRA.May 28 | 17.35 | 0.29 | -3.22 | 41985000 | YESBANK.May 28 | 27.3 | -0.73 | -1.86 | 23636800 | |
| RECLTD.May 28 | 88.05 | 0.74 | -2.14 | 20820000 | INFO EDGE (I) LTD.May 28 | 2400.05 | -2.05 | -0.48 | 739800 | |
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Top Delivery Percentage
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Hindustan Unilever Ltd | 1990.85 | 0.77 | 3927076 | 3390822 | 56.86 | Nifty Pharma | 9456.8 | 4.1 | 87564 | |
| HDFC LIFE INSURANCE COMP | 479.25 | 1.59 | 3112805 | 2853183 | 55.62 | Nifty Media | 1107.65 | 2.41 | 87564 | |
| Dr. Reddys Lab Ltd | 3910.2 | 5.69 | 4216736 | 457304 | 48.89 | Nifty Realty | 165.75 | 2.22 | 87564 | |
| Petronet LNG Limited | 227.6 | 1.56 | 1498576 | 1374713 | 47.51 | Nifty Auto | 5603.8 | 2.14 | 87564 | |
| TATA CONSUMER PRODUCTS | 360.75 | 0.75 | 3489683 | 2551391 | 44.79 | Nifty 50 | 9066.55 | 2.11 | 87561 | |
| HDFC Ltd. | 1627 | 5.66 | 6847043 | 4145022 | 44.76 | Nifty Bank | 17840.2 | 2.02 | 87561 | |
| TECH MAHINDRA LIMITED | 519.2 | 1.29 | 2772990 | 1356537 | 44.6 | Nifty FMCG | 27290.35 | 1.47 | 87561 | |
| Grasim Ind Ltd. | 536.85 | 4.88 | 2851359 | 1461917 | 44.48 | Nifty Metal | 1711.5 | 1.06 | 87564 | |
| GAIL (India) Limited | 86.25 | 5.38 | 16541795 | 7914743 | 44.13 | Nifty IT | 13517.4 | 0.53 | 87561 | |
| Torrent Pharma Ltd. | 2569.55 | 2.82 | 716061 | 236675 | 42.31 | INDIA VIX | 35.81 | -9.23 | 87561 | |
Upcoming Economic Data
| Domestic International | |
| •INR: Bank Loan Growth on 22nd May, 2020
•INR: Deposit Growth on 22nd May, 2020 |
•USA: Initial Jobless Claims on 21st May, 2020
•USA: Existing Home Sales (Apr) on 21st May, 2020 |
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News Updates
| •Government of India today said that all domestic flights and civil aviation operations will resume from 25 May in a “calibrated” manner. The Standard operation procedures will be issues for passenger movement soon, it added. “Domestic civil aviation operations will recommence in a calibrated manner from 25 May. All airports & air carriers are being informed to be ready for operations from 25 May.
•UltraTech Cement reported over two-fold rise in consolidated net profit at Rs 5,815 crore in FY20 compared with Rs 2,404 crore in the previous fiscal. The normalised profit before considering a one-time tax gain of Rs 2,112 crore stood at Rs 3,703 crore. The consolidated net sales was at Rs 41,476 crore as against Rs 40,904 crore over the previous year. •The Securities and Exchange Board of India (Sebi) has advised India Inc to make enhanced disclosures on the impact of Coronavirus outbreak on their businesses, and provide both the quantitative and qualitative aspects.“Listed entities should endeavour to ensure that all investors have access to timely, adequate and updated information. •The Nifty 50 index may hit a low of 8,000 points, dragged down by financial stocks and as investors remain unenthused by India’s Covid-19 package or global cues, according to Gautam Shah of Goldilocks Premium Research. Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name5 | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ALPHA | Quarterly Results | 21-May-20 | HINDZINC | Audited Results;Dividend | 21-May-20 |
| APCOTEXIND | Audited Results | 21-May-20 | INDOVATION | General | 21-May-20 |
| APTECHT | Audited Results | 21-May-20 | INTERDIGI | General | 21-May-20 |
| BAJAJFINSV | Audited Results | 21-May-20 | JUBLINDS | Audited Results | 21-May-20 |
| BAJAJHLDNG | Audited Results | 21-May-20 | KILBURNC | General | 21-May-20 |
| BIRLACORPN | Audited Results;Dividend;General | 21-May-20 | PCPL | Voluntary Delisting of Shares | 21-May-20 |
| COLPAL | Audited Results;Interim Dividend | 21-May-20 | QUICKHEAL | Audited Results;Dividend | 21-May-20 |
| HAWKINCOOK | Audited Results;Dividend | 21-May-20 | RCCEMEN | General | 21-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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