The US Markets fell more than 2.6% daybefore, setting up the possibility of a grim opening in India, yesterday morning. The SGX Nifty suggested an open around 10150, down almost 150 points. The actual open was much higher, with the Nifty opening at 10235. This was the first warning that India may not go down as the US did. This is the scenario that played out. The Nifty remained above 10200 through out the trading day, actually going into the green (above yesterdays low) for some time. The Nifty closed at 10288.9 down 16.4 points.
Indian markets were outperformers today. Yesterday we wrote ‘ 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 made a low of 10194 almost exactly at the 10200 support. During the day, repeated Dips to 10200 gave us multiple buying opportunities.
We can look to buy above 10150 with a stop at 10055 for the target of 10270-10400.
Bank Nifty opened at 21218.05 with a gap down of 238 points. The index traded very volatile today with lots of ups and downs and finally closed at 21500.35 with a gain of 44 points. Private Banks have outperformed today and closed higher. Within the index, in terms of points, Kotak Bank contributed highest while Axis Bank the lowest. Today the priced opened with a gap down then saw a rally of 500 points then saw a decline of about the same and then again a rally came in and then the index became narrow and ended with marginal gains.
Bank Nifty remains inside the 19500-21600 range. We can continue the buy on dips and sell on rallies strategies.
|AMARARAJBATT||640.25||SELL||The immediate trend of the stock is down. The stock can be sold below 635 with a stop loss at 643 for the target of 620.|
|HCLTECH||550.05||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 556 and for the target of 535.|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|IGL||450 CE||BUY||24.50||26||22||35||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|GODREJCP.Jun 25||673.5||0.37||80.74||2732800||ULTRACEMCO.Jun 25||3799.7||-0.62||62.73||1602200|
|MARICO.Jun 25||343||1.05||71.28||2636400||AMBUJACEM.Jun 25||186.7||-1.45||56.6||3797500|
|BOSCHLTD.Jun 25||11450.05||0.64||58.48||48240||HCLTECH.Jun 25||548.35||-2.05||48.06||9695000|
|LUPIN.Jun 25||938||1.83||57.98||4894400||NTPC.Jun 25||95.2||-1.96||45.31||18072000|
|SIEMENS.Jun 25||1111||1.48||55.42||788150||UPL.Jun 25||443.85||-0.37||44.27||4282200|
|Short Covering||Long Unwinding|
|RAMCOCEM.Jun 25||618.3||0.06||-74.86||36800||NIITTECH.Jun 25||1373.25||-1.28||-60.23||65625|
|PNB.Jun 25||37.25||1.78||-70.39||3303400||NIFTYIT.Jun 25||14550||-0.6||-60||300|
|TORNTPOWER.Jun 25||326.45||0.73||-62.74||237000||GODREJPROP.Jun 25||886.95||-0.4||-57.06||91000|
|CUMMINSIND.Jun 25||407||1.13||-58.37||78300||MUTHOOTFIN.Jun 25||1097.35||-1.77||-53.57||531750|
|SAIL.Jun 25||30.85||0.16||-56.5||4992600||AMARAJABAT.Jun 25||640.85||-2.2||-52.22||120800|
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TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Container Corp Of India||426.2||2.02||2307294||1195205||56.93||Nifty Fmcg||30113.25||2.12||80373|
|Godrej Cons Products Ltd||676.3||0.68||1924233||1245187||54.38||India Vix||29.73||0.5||80373|
|Tata Consumer Products l||384||0.23||1961942||2064310||53.07||Nifty Bank||21506.15||0.37||80373|
|Hcl Technologies Ltd.||550.05||-1.71||6353508||2787822||52.21||Nifty Auto||6737.85||-0.07||80370|
|Power Grid Corporation o||179.35||0.48||23012314||9417425||50.87||Nifty 50||10288.9||-0.16||80373|
|Sbi Life Insurance Compa||786.25||0.7||735191||849096||49.97||Nifty Media||1401.1||-0.39||80370|
|Bharti Airtel Limited||559||0.3||15589317||5953782||48.06||Nifty Metal||2030.8||-0.57||80370|
|Infosys Limited||700.5||-1.91||14945304||4902062||47.96||Nifty Realty||213.2||-1.02||80373|
|Tech Mahindra Limited||554.15||-1.21||2386985||1669572||47.7||Nifty it||14411.2||-1.17||80373|
UPCOMING ECONOMIC DATA
|•INR: FX Reserves, USD on 26th June, 2020
•INR: Infrastructure Output (YoY) (May) on 30th June, 2020
|•USA: Pending Home Sales (MoM) (May) on 29th June, 2020|
|•The cement industry is seeing some demand recovery now that lockdown is being lifted in many states. Cement dealers’ channel check by various brokers shows that pent-up demand is aiding the sector’s utilization levels. Further improvement in demand is expected to be driven by rural segments. “Rural and pent-up demand has led to higher-than-expected volumes in May-June 2020 and the industry could just suffer nearly 40% year-on-year decline in 1QFY21E volumes, better than earlier expectations,” said a Kotak Institutional Equities (KIE) Ltd report on 24 June.
•Hindustan Unilever (HUL) will rename its skin-lightening brand Fair & Lovely to make it more “inclusive and diverse”. The decision comes at a time when the company and other such product sellers have come under fire for reinforcing racial stereotypes. “Taking forward the brand’s journey towards a more inclusive vision of beauty, the company will stop using the word ‘Fair’ in the brand name,” HUL said in a statement.
•India’s exports are expected to decline by around 10 percent in FY21 and in case of a second wave of novel coronavirus, or COVID-19, outbreak, the contraction may reach 20 percent, according to Federation of Indian Export Organizations (FIEO). “Initially, looking into the lockdown challenges and projected decline in global trade, we expected 20 percent decline in our exports. However, two days back, the WTO trade estimates for the second quarter puts the contraction only at 13 percent.
Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint
|Company Name5||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|APLAPOLLO||Audited Results||26-Jun-20||ITC||Audited Results;Dividend||26-Jun-20|
|APOLLO||Audited Results;Dividend;General||26-Jun-20||ITI||Audited Results||26-Jun-20|
|AXTEL||Audited Results||26-Jun-20||KAJARIACER||Audited Results||26-Jun-20|
|CENTURYPLY||Audited Results;General||26-Jun-20||KOCL||Audited Results;Quarterly Results||26-Jun-20|
|GATI||Audited Results;Quarterly Results||26-Jun-20||NATIONALUM||Audited Results;General||26-Jun-20|
|GLENMARK||Audited Results;Dividend||26-Jun-20||OIL||Audited Results||26-Jun-20|
|HTMEDIA||Audited Results;Dividend;General||26-Jun-20||RUCHISOYA||Audited Results||26-Jun-20|
|HUDCO||Audited Results;Final Dividend||26-Jun-20||SOUTHBANK||Audited Results;Quarterly Results||26-Jun-20|
|IFCI||Audited Results||26-Jun-20||SUNTV||Audited Results||26-Jun-20|
|IL&FSENGG||Quarterly Results||26-Jun-20||UCOBANK||Audited Results;Quarterly Results||26-Jun-20|
|IRCTC||Audited Results;Final Dividend||26-Jun-20||UGARSUGAR||Audited Results;Quarterly Results||26-Jun-20|
|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||JUSTDIAL||2-Jul-20||Buy Back of Shares|
|HEXAWARE||30-Jun-20||Interim Dividend – Rs. – 3.00||KARDA||2-Jul-20||Stock Split From Rs.10/- to Rs.2/-|
|LAURUSLABS||1-Jul-20||Final Dividend – Rs. – 1.00||MPHASIS||2-Jul-20||Final Dividend – Rs. – 35.00|
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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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