NIFTY:
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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