outlookNIFTY:

Yesterday the Nifty opened with a gap up of 58 points at 10529.25. The index begins its day with trading sideways. Soon prices began moving down after making its intraday high around 10553.15. Prices have continued its down move for the whole day. The index has rallied multiple times but could not sustain those gains. After four days of successive higher closing, the Nifty closed with a loss of 10305.30 down by 165.70 points. Banks and Financials together have led the decline today. ICICI Bank and IndusInd Bank have closed lower by almost 7%.

A short term support is visible around 10200. A buying opportunity may emerge when Nifty comes towards this level and then finds support. The Nifty had a large range of 272 points, we can look at choppy and sideways movements.

Intraday traders can buy on dips and sell on rallies.

BANK NIFTY:

Bank Nifty opened at 22479.35 with a gap up of 235 points. The index started moving lower from its open. Prices have seen minor rallies intraday but were not able to sustain those gains and eventually closed lower at 21456.80 with a loss of 858 points. Private Banks have underperformed today and closed lower by 4%. Within the index, in terms of points, Bank of Baroda contributed the highest while ICICI Bank the lowest.

Bank Nifty closed lower after registering gains for the four consecutive days. The index came back inside its trading range of 19500-21600. A short term support for this range is at 20500.

Intraday traders should look to buy on dip and sell on rallies.

TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
HDFCBANK 1032.50 SELL The immediate trend of the stock is down. The stock can be sold at 1035 with a stop loss at 1042 for the target of 1020.
PEL 1240.40 SELL The immediate trend of the stock is sideways. The stock has given a breakdown from this range. It can be sold at CMP with a stop loss above 1260 and for  the target of  1200.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
MINDTREE 920 CE BUY 11.15 11 8 21 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BERGEPAINT.Jun 25 546 5.8 45.38 3220800 MARUTI.Jun 25 5773 -2.21 42.81 1848000
NESTLEIND.Jun 25 16705.75 0.72 41.99 303850 TATAPOWER.Jun 25 43 -3.48 40.3 51381000
M&MFIN.Jun 25 179.8 0.95 38.9 11134400 GRASIM.Jun 25 615.15 -1.05 37.98 5409000
EICHERMOT.Jun 25 18380.1 2.78 37.94 185850 HDFC.Jun 25 1800.95 -2.28 37.8 12463250
BOSCHLTD.Jun 25 11360 0.07 35.83 83560 PFC.Jun 25 87.8 -1.51 36.44 25606000
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
PAGEIND.Jun 25 20901.05 8.75 -21.27 71550 UJJIVAN.Jun 25 211.6 -3.82 -40.81 1188300
TORNTPOWER.Jun 25 324.35 0.92 -19.74 732000 RAMCOCEM.Jun 25 620.55 -3.98 -38.53 220800
ITC.Jun 25 192.55 3.47 -16.23 28824000 CANBK.Jun 25 109.85 -3.6 -35.3 3640000
JINDALSTEL.Jun 25 148.95 1.12 -15.15 12350000 IDEA.Jun 25 9.8 -5.31 -27.17 97706000
MGL.Jun 25 1059.95 0.05 -14.87 487800 SAIL.Jun 25 31 -5.05 -26.98 14491100

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Godrej Cons Products Ltd 671.7 1.02 2289595 1366445 59.29 India Vix 29.58 0.81 82521
Petronet Lng Limited 262.65 1.16 4921521 1438030 57.41 Nifty Fmcg 29487.4 0.45 82521
Hcl Technologies Ltd. 559.6 -3.56 5339903 2592393 57.33 Nifty it 14581.45 -0.67 82521
Tech Mahindra Limited 560.95 0.38 3500487 2498588 56.29 Nifty Auto 6742.8 -0.68 82518
Tata Consumer Products l 383.1 -1.98 3889495 1962889 51.19 Nifty 50 10305.3 -1.58 82521
Container Corp Of India 417.75 -0.89 2099508 777640 49.8 Nifty Metal 2042.35 -2.08 82518
Nestleind 16707.95 0.96 201086 121422 49.61 Nifty Pharma 10110.5 -2.42 82521
Divi S Laboratories Limi 2341.35 -1.63 501602 397022 47.38 Nifty Realty 215.4 -2.64 82521
Itc Ltd. 191.85 3.23 54653037 12515417 47.14 Nifty Media 1406.65 -2.94 82518
Indian Oil Corp. Ltd. 87.1 -2.52 29648026 14491744 45.58 Nifty Bank 21426.8 -3.76 82521

UPCOMING ECONOMIC DATA

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

•INR: Infrastructure Output (YoY) (May) on 30th June, 2020

•USA: Core Durable Goods Orders (MoM) (May) on 25th June, 2020

•USA: GDP (QoQ) (Q1) on  25th June, 2020

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NEWS UPDATES

•ICICI Bank Ltd. is considering raising as much as $3 billion in a share sale as the lender seeks to bolster its capital ratios, according to people familiar with the matter. The Mumbai-based bank plans to start discussions with potential advisers for the offering soon, said the people, who asked not to be identified as the information is private.

•State-owned Power Finance Corporation (PFC) has reported 25.02 per cent year-on-year decline in consolidated net profit at Rs 9,477.24 crore for the financial year ended March 31, 2020. The financial back bone of Indian power sector posted a consolidated net profit of Rs 12,640.27 crore in the financial year 2018-19. The consolidated total income of the large cap company, however, increased by 15 per cent to Rs 62,275.36 crore in FY20 from Rs 54,156.83 crore in FY19.

•Indian Oil Corporation on Wednesday reported a consolidated net loss of Rs 7,782 crore for the March quarter. The company marked Rs 11,304.64 crore as “exceptional item” or one-time loss. In the previous quarter, the state-owned oil major had posted Rs 6,004.88 crore net profit. The company’s revenue declined by 3.35 per cent year-on-year during the third quarter to Rs 1,42,371.85 crore. Average gross refining margin for the period April-March 2020 financial year is $0.08 per bbl compared to $5.41 per bbl a year earlier.

•Canara Bank posted a loss of Rs 3,259.33 crore for the quarter ended March 2020. The bank had reported loss of Rs 551.53 crore in year-ago period.Gross non-performing assets as a percentage of gross advances fell 15 bps sequentially to 8.21 percent and net NPA declined 83 bps QoQ to 4.22 percent in quarter ended March 2020.

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

BOARD MEETINGS

Company Name5 Purpose Ex-Date Company Name Purpose Ex-Date
APARINDS Audited Results 25-Jun-20 IDFC Audited Results;General 25-Jun-20
APOLLOHOSP Audited Results 25-Jun-20 INSECTICID Audited Results 25-Jun-20
ASHOKLEY Audited Results 25-Jun-20 IOB Audited Results 25-Jun-20
BANKINDIA Audited Results 25-Jun-20 POCHIRAJU Audited Results 25-Jun-20
CONCOR Audited Results;Final Dividend 25-Jun-20 TTKPRESTIG Audited Results;Dividend 25-Jun-20
ENDURANCE Audited Results 25-Jun-20 TWIROST Audited Results;Dividend 25-Jun-20
ENGINERSIN Audited Results;Final Dividend 25-Jun-20 V2RETAIL Audited Results 25-Jun-20
FSC Audited Results 25-Jun-20 VIKASMCORP Audited Results;Quarterly Results 25-Jun-20
GALAXYSURF Quarterly Results 25-Jun-20 VINYOFL Audited Results;Quarterly Results 25-Jun-20
IBVENTURES Audited Results 25-Jun-20 WANBURY Audited Results;Quarterly Results 25-Jun-20
ICRA Audited Results;Dividend 25-Jun-20 ZUARIGLOB Audited Results;Dividend 25-Jun-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
CASTROLIND 26-Jun-20 Interim Dividend – Rs. – 3.00 TATAINVEST 1-Jul-20 Dividend – Rs. – 18.00
NATCOPHARM 26-Jun-20 Interim Dividend – Rs. – 1.00 AMRITCORP 2-Jul-20 Buy Back of Shares
NAM-INDIA 29-Jun-20 Final Dividend – Rs. – 2.00 BALRAMCHIN 2-Jul-20 Buy Back of Shares
SANOFI 29-Jun-20 Final Dividend – Rs. – 106.00 HINDPETRO 2-Jul-20 Final Dividend – Rs. – 9.7500
SANOFI 29-Jun-20 Special Dividend – Rs. – 243.00 KARDA 2-Jul-20 Stock  Split From Rs.10/- to Rs.2/-
HEXAWARE 30-Jun-20 Interim Dividend – Rs. – 3.00 MPHASIS 2-Jul-20 Final Dividend – Rs. – 35.00
LAURUSLABS 1-Jul-20 Final Dividend – Rs. – 1.00 RELIANCE 2-Jul-20 Dividend – Rs. – 6.50

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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