outlookNIFTY:

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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