Yesterday was a different day, with the Nifty having gone through a choppy period the day before, there was a strong likelihood that the index could move up yesterday. This is exactly what happened. The Nifty opened almost unchanged and then began a rally from the morning to the closing bell. At the end of the day the index closed at 10471, up 159 points, almost 1.55%. We have been long in the Nifty into different setups, one based on a breakout from a small trading range, and the second based on a breakout from a large trading range. The target as mentioned was 10433 which has been achieved yesterday.
For today we should wait and watch the movement of the market and should take another buy position at lower levels for the targets of 10862 in a longer time. In the intraday perspective, we should watch the price action carefully.
Bank Nifty opened at 21859.25 with a gap up of 117 points. The index first saw a decline and recorded its intraday low at 21647.80 and then started moving higher. Prices have seen an intraday rally of more than 600 points and finally closed at 22314.80 with a gain of 572 points.
PSU and Private bank both have performed well today and closed higher by 3.41% and 2.75% respectively. Within the index, in terms of points, HDFC Bank contributed the highest while IDFC First bank the lowest. Day before we saw a breakout above the range and expected to see a follow on up move as we did yesterday. In the past four trading sessions the index has moved more than 2000 points, we can expect a bit of a choppy or narrow market.
Intraday traders should look to buy on dips and sell on rallies.
|HDFC||1838.10||BUY||The stock has been consolidating in a range near the support and has started an up move again. Traders should buy at 1835 with a stop at 1815 and target of 1865.|
|CENTURY TEXTILES||316.50||SELL||The immediate trend of the stock is sideways. The stock can be sold below 114.50 with a stop loss above 119 and for the target of 107.|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|BAJAJFINANCE||3050 CE||BUY||73.70||CMP||67||88||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|MARICO.Jun 25||339||2.46||41.55||10540400||PFC.Jun 25||89.3||-1.38||31.53||47566400|
|BATAINDIA.Jun 25||1345.7||0.13||33.84||1300750||NMDC.Jun 25||87.35||-0.51||29.38||22854000|
|NIFTYIT.Jun 25||14640||1.88||33.33||1000||RELIANCE.Jun 25||1727.1||-1.25||21.64||30126280|
|HINDUNILVR.Jun 25||2165||3.22||30.9||15760200||PAGEIND.Jun 25||19240||-1.03||18.65||151275|
|ITC.Jun 25||186.25||0.49||30.33||68155200||TORNTPHARM.Jun 25||2583||-0.2||16.77||1180500|
|Short Covering||Long Unwinding|
|PVR.Jun 25||1067.05||1.98||-30.47||825200||GLENMARK.Jun 25||483.65||-6.91||-18.73||3103800|
|RAMCOCEM.Jun 25||645.45||2.13||-24.64||504000||BALKRISIND.Jun 25||1243.25||-0.24||-14.41||1031200|
|NATIONALUM.Jun 25||33.8||4.32||-15.91||21773700||AMARAJABAT.Jun 25||661.15||-1||-14.24||978400|
|UJJIVAN.Jun 25||219.85||0.39||-15.2||2228700||MRF.Jun 25||64500||-0.67||-11.47||13040|
|BANKBARODA.Jun 25||50.55||2.12||-13.81||30375000||ESCORTS.Jun 25||970||-0.97||-9.63||2228600|
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TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Tata Consumer Products l||390.85||2.56||3834537||1439936||54.89||Nifty Media||1449.2||2.27||80871|
|Hdfc Life Insurance Comp||537.05||3.2||5813524||1511618||54.63||Nifty Metal||2085.8||1.76||80871|
|Hindustan Unilever Ltd||2155.95||2.63||4309193||1292663||51.97||Nifty Fmcg||29355.2||1.7||80874|
|Hcl Technologies Ltd.||580.25||1.87||4522086||1353750||50.77||Nifty 50||10471||1.55||80871|
|Britannia Ind Ltd.||3467.05||1.34||765553||369236||50.22||Nifty it||14680.4||1.5||80871|
|Godrej Cons Products Ltd||664.95||0.49||2304599||979613||49.13||Nifty Pharma||10360.8||1.39||80874|
|Dabur India Ltd.||458.6||3.4||5596516||1464984||47.52||Nifty Auto||6789.2||0.89||80871|
|Ambuja Cements Ltd||193.25||1.13||4619623||1157405||46.7||India Vix||29.34||-3.68||80871|
UPCOMING ECONOMIC DATA
|•INR: M3 Money Supply on 24th June, 2020
•INR: FX Reserves, USD on 26th June, 2020
|•USA: Crude Oil Inventories on 24th June, 2020
•USA: GDP (QoQ) (Q1) on 25th June, 2020
|•Indian drugmaker Cipla Ltd will price its generic version of Gilead Sciences Inc’s antiviral drug remdesivir for use in COVID-19 patients at less than 5,000 rupees ($66), the company said. Cipla and privately held Indian drugmaker Hetero Labs on Sunday gained approval to sell generic versions of remdesivir in the country. Hetero expects to price a similar 100 milligram dose of the treatment at 5,000 to 6,000 rupees.
•Berger Paints on Tuesday posted 6.51 per cent year-on-year (YoY) fall in consolidated net profit at Rs 103.18 crore for the quarter ended March 31. It had posted a net profit of Rs 110.37 crore in the corresponding quarter last year. Revenue of the company declined 7.96 per cent YoY to Rs 1,354.84 crore during the quarter under review.
•The Reserve Bank of India has extended by three months a special liquidity window for Yes Bank Ltd. to help the private lender cover for any shortfall in deposits, according to a person aware of the development. The bank can access the Rs 50,000-crore liquidity window if outflow of deposits exceeds the accretion of fresh deposits, the person said on condition of anonymity.
•A trial of AstraZeneca’s experimental COVID-19 vaccine in pigs has found that two doses of the Oxford University-developed shot produced a greater antibody response than a single dose, scientists said on Tuesday.
Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint
|Company Name5||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|ASAHIINDIA||Quarterly Results;Audited Results||24-Jun-20||PFC||Audited Results||24-Jun-20|
|ASIANTILES||Audited Results;Dividend||24-Jun-20||PRESTIGE||Audited Results;General||24-Jun-20|
|BALMLAWRIE||Results;Final Dividend;General||24-Jun-20||SUNTECHNO||Audited Results||24-Jun-20|
|CANBK||Audited Results||24-Jun-20||SUPREMEX||Audited Results||24-Jun-20|
|ESABINDIA||Audited Results;Dividend||24-Jun-20||TIDEWATER||Audited Results;Final Dividend||24-Jun-20|
|FCONSUMER||Audited Results||24-Jun-20||TIMEX||Audited Results||24-Jun-20|
|GAIL||Audited Results;Final Dividend||24-Jun-20||TRANSPEK||Audited Results||24-Jun-20|
|INDIACEM||Audited Results||24-Jun-20||TVOLCON||Audited Results||24-Jun-20|
|INDIAGLYCO||Audited Results||24-Jun-20||UBL||Audited Results;Final Dividend||24-Jun-20|
|INDOCO||Audited Results;Dividend||24-Jun-20||UNISHIRE||Audited Results||24-Jun-20|
|IOC||Audited Results||24-Jun-20||XPROINDIA||Audited Results||24-Jun-20|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|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|
|SWARAJENG||2-Jul-20||Dividend – Rs. – 25.00||HDFC||9-Jul-20||Dividend – Rs. – 21.00|
|SWARAJENG||2-Jul-20||Special Dividend – Rs. – 15.00||TATAELXSI||13-Jul-20||Final Dividend – Rs. – 16.50|
|TAHL||2-Jul-20||Bonus issue 1:4||SKFINDIA||14-Jul-20||Special Dividend – Rs. – 130.00|
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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