outlookNIFTY:

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:

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.

TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
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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DERIVATIVE PICKS

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
Sector Price Price% OI% OI Sector Price Price% OI% OI
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
Sectors Price Change % Quantity
Adanient 157.2 1.65 4790124 2797388 59.99 Nifty Realty 221.25 2.88 80874
Nestleind 16548.45 2.53 244735 78401 57.68 Nifty Bank 22264.9 2.56 80871
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

   Domestic                                                                                                                                                  International
•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

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NEWS UPDATES

•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

BOARD MEETINGS

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

CORPORATE ACTION

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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