outlookNIFTY:

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:

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.

TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
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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DERIVATIVE PICKS

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
Sector Price Price% OI% OI Sector Price Price% OI% OI
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
Sectors Price Change % Quantity
Container Corp Of India 426.2 2.02 2307294 1195205 56.93 Nifty Fmcg 30113.25 2.12 80373
Nestleind 16787 0.47 169666 113897 56.64 Nifty Pharma 10193.15 0.82 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

   Domestic                                                                                                                                                  International
•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

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NEWS UPDATES

•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

BOARD MEETINGS

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

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 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

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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