NIFTY:
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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