outlookNIFTY:

It was a trending day for the NIFTY. Index opened higher an then after consolidating for a couple of hours started an up move that eventually saw it break above 10175 resistance and close at 10244 up 152 points.

We have talking about the short term resistance level for nifty that was 10175 level, on Friday nifty has broken that level and closed well above that level. Now considering this as a breakout traders who all are in long position should put their stop at 10055.

The long term trend of the market had changed to up a few days ago. This uptrend remains intact. Momentum on the long – term suggests a consolidation or a dip.

The intermediate trend remains up. Momentum for the intermediate trend was suggesting a rally. This rally has come about and now there is a sense that markets may either consolidate or dip.

BANK NIFTY:

BANK NIFTY opened at 20970.10 without much of gap. The index move higher for the whole day with minor dips in between and finally closed at 21338.10 with a gain of 381.80 points.

PRIVATE and PSU banks both have performed well on Friday and closed higher by more than 1.45% and 2.23%.

BANK NIFTY continued its gains and today the index closed above 21000. As discussed earlier a large consolidation inside 17500  as a support and 21500 as a resistance remained intact so far. The index is trading at the top of this consolidation.

As far as prices are trading inside this range we should focus more on intraday trades. Best way to trade is to buy the dip if finds support and sell the rally if find  resistance. Keep a tight stop loss and modest target.

TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
UJJIVAN 212.80 BUY The stock has corrected after a rally and has started an up move again. Traders should buy  above 215 with a stop at 209 and target of  230
BAJFINANCE 2698.60 BUY The short term trend is strong. The stock has given breakout on intraday as well as on daily chart. The stock can be bought above 2720  with a stop loss of  2650 and for the target of  2850.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
BRITANNIA 3500CE BUY 30.30 33 26 45 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
HEROMOTOCO.20.06 Jun 2372 0.19 32.82 2813600 NIITTECH.20.06 Jun 1327.6 -3.36 21.7 500625
EQUITAS.20.06 Jun 52.75 7.76 31.38 15611400 HDFC.20.06 Jun 1844 -0.56 19.35 26785250
BAJAJFINSV.20.06 Jun 5935 9.34 31.19 999500 SRTRANSFIN.20.06 Jun 668 -0.01 15.04 3115800
GODREJPROP.20.06 Jun 894 8.33 29.35 521300 VEDL.20.06 Jun 105.8 -1.26 14.68 87076500
FEDERALBNK.20.06 Jun 50.9 5.38 22.67 73017000 ICICIPRULI.20.06 Jun 390.35 -0.51 11.81 9087000
                                                                        Short Covering                                                                              Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
BHEL.20.06 Jun 32.55 2.04 -14.98 46228000 NIFTYIT.20.06 Jun 14481 -0.32 -24 950
SAIL.20.06 Jun 30.05 1.01 -11.8 41542200 GRASIM.20.06 Jun 598 -0.09 -9.65 15660000
PNB.20.06 Jun 34.45 1.32 -8.98 58664400 IDEA.20.06 Jun 9.1 -6.67 -3.69 2.07E+08
MUTHOOTFIN.20.06 Jun 1180.25 2.99 -6.98 3000000 ZEEL.20.06 Jun 173.25 -0.89 -1.75 30996100
EXIDEIND.20.06 Jun 151.75 2.09 -6.53 8178000 JUSTDIAL.20.06 Jun 363.95 -2.99 -1.64 1759800

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Petronet Lng Limited 17% 260.4 0.02 4261378 2624554 62.28 Nifty Energy 14535.25 76746 3.65
Srf Ltd. 21% 3614.15 0.26 281420 131813 53.95 Nifty Media 1387.55 76746 1.98
Hindustan Unilever Lt 15 2092.75 1.33 4673557 1208187 51.92 Nifty Bank 21338.1 76746 1.82
Godrejprop 23% 893.8 8.39 1663431 179628 51.68 Nifty Auto 6634.5 76746 1.51
Tata Consumer Product 21 377.3 1.38 4249130 994858 51.56 Nifty 50 10244.4 76746 1.51
Ambuja Cements Ltd 17% 190.8 1.84 7723563 1634772 50.15 Nifty Pharma 10002.15 76746 0.27
Hdfc Life Insurance C 22 521.1 1 4569791 2047859 50.14 Nifty Fmcg 28709.45 76746 0.21
Colgate Palmolive (in 16 1356.7 0.31 995232 319230 49.29 Nifty Metal 1997.55 76746 -0.06
Marico Limited 10% 331.9 -0.05 2713340 736994 49.24 Nifty it 14499.8 76746 -0.35
Tech Mahindra Limited 17 538.85 0.55 5570402 1286697 48.4 India Vix 29.96 76746 -4.75

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR: M3 Money Supply on 24th June, 2020

•INR: FX Reserves, USD on 26th June, 2020

•USA: Existing Home Sales (May) on 22nd June, 2020

•USA: New Home Sales (May) on 23rd June, 2020

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NEWS UPDATES

•Piramal Enterprises Ltd’s pharma solutions business has entered a pact with G&W Laboratories to acquire its solid oral dosage product manufacturing facility in US’ Sellersville for over Rs 130 crore. “According to the terms of the agreement, Piramal Enterprises, through one of its affiliates, would acquire… 100 per cent stake in the entity that operates the facility and owns the related real estate,” Piramal Pharma Solutions (PPS) stated.

•Having received the manufacturing and marketing approval from the Drugs Controller General of India (DCGI), drug firm Glenmark Pharmaceuticals has launched antiviral drug Favipiravir, under the brand name FabiFlu, for the treatment of patients with mild to moderate COVID-19 patients. Price at Rs.103 per tablet, the prescription-based drug will be available as a 200 mg tablet at an MRP of Rs.3,500 for a strip of 34 tablets.

•Drug Controller General of India (DCGI) has also allowed Hetero and Cipla to manufacture and market Gilead Sciences’ anti-viral drug remdesivir for “restricted emergency use” on hospitalised patients. “The approval to Hetero and Cipla was given on Saturday,” PTI reported citing sources.

•Net profit of Balkrishna Industries rose 42.36% to Rs 264.70 crore in the quarter ended March 2020 as against Rs 185.94 crore during the previous quarter ended March 2019. Sales rose 1.20% to Rs 1372.27 crore in the quarter ended March 2020 as against Rs 1356.03 crore during the previous quarter ended March 2019.

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

BOARD MEETINGS

Company Name5 Purpose Ex-Date Company Name Purpose Ex-Date
ADANIPOWER Voluntary Delisting of Shares 22-Jun-20 MOREPENLAB Audited Results;Quarterly Results 22-Jun-20
AEGISLOG Audited Results;Final Dividend 22-Jun-20 NAUKRI Audited Results;Preferential Issue of shares 22-Jun-20
ALUFLUOR Audited Results 22-Jun-20 NDTV Audited Results 22-Jun-20
AMRITCORP Buy Back ;Final Dividend;Quarterly Results 22-Jun-20 ONMOBILE* Audited Results;Dividend 22-Jun-20
AVADHSUGAR Audited Results;Dividend 22-Jun-20 SATIN General 22-Jun-20
BALAMINES A.G.M.;Audited Results;Final Dividend 22-Jun-20 SUDARSCHEM Audited Results 22-Jun-20
DATASOFT Audited Results 22-Jun-20 SYNCOM Audited Results;Quarterly Results 22-Jun-20
DHANBANK Audited Results 22-Jun-20 TAINWALCHM Audited Results;Quarterly Results 22-Jun-20
KIRLOSIND Audited Results 22-Jun-20 TEATIME Audited Results 22-Jun-20
MAHAANF Audited Results 22-Jun-20 THEINVEST Audited Results 22-Jun-20
MARUTISE Audited Results 22-Jun-20 UFO Audited Results 22-Jun-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
SHREDIGCEM 22-Jun-20 Dividend – Rs. – 1.50 SWARAJENG 2-Jul-20 Dividend – Rs. – 25.00
TATACHEM 22-Jun-20 Final Dividend – Rs. – 11.00 SWARAJENG 2-Jul-20 Special Dividend – Rs. – 15.00
BAYERCROP 23-Jun-20 Interim Dividend – Rs. – 90.00 TAHL 2-Jul-20 Bonus issue 1:4
SANOFI 29-Jun-20 Final Dividend – Rs. – 106.00 JSWSTEEL 6-Jul-20 Final Dividend – Rs. – 2.00
SANOFI 29-Jun-20 Special Dividend – Rs. – 243.00 MINDTREE 6-Jul-20 Final Dividend – Rs. – 10.00
LAURUSLABS 1-Jul-20 Final Dividend – Rs. – 1.00 BOMDYEING 8-Jul-20 Dividend – Rs. – 0.20
SUNDARMFIN 2-Jul-20 Final Dividend – Rs. – 3.00 ADVENZYMES 9-Jul-20 Final Dividend – Rs. – 0.60

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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