NIFTY:
The NIFTY opened with a large gap, but failed to sustain these higher levels. After an initial rally to 9150, the NIFTY started a decline and the decline continued throughout the day. This has now become a pattern for the NIFTY. It open higher, then fall for the day, then in last hours rallies again.
Please note that such patterns are not reliable. They can stop emerging immediately or change their behaviour completely.
At the end of the day the NIFTY closed with a minor loss of 10.20 points, 0.11% down. The index closed at 9029. The BANK NIFTY closed almost 1% higher, gaining 161 points at 17440. Not just the BANK NIFTY, the NIFTY Mid-Cap index gained 2%. Given the cheerful, movement in world markets, today’s dismal performance by the NIFTY was a disappointment.
A trading range is now visible in the NIFTY for the short-term trader. Support comes at 8890, resistance at 9156. This is a trading range with a width of about 265 points. A move out of this range should give a decent tradable rally or decline. Inside this range, there is some sign that the NIFTY is again ready for an up move. Index is getting slightly oversold in the short-term timeframe.
TECHNICAL PICKS
| COMPANY . | CMP | B/S | RATIONALE |
| IGL | 470 | BUY | The intermediate and short-term trends are up in IGL. Prices are trading near its resistance after a sharp rally. We may see a breakout here. Should buy above 472 with a stop loss of 462 and a target of 479-485. |
| CHOLAFIN | 122.10 | SELL | The immediate trend of the stock is weak . Prices are now trading near its support around 120. we may see a breakdown here. Should look for a selling opportunity below 120 with a stop just above 123.50 and a target around 113. |
Get All Your Mutual Fund Portfolio Retuns on Your Mobile by Elite Kuber App
DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| PVR | 850 PE | BUY | 13 | CMP | 5 | 40 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| PETRONET.May 28 | 234.05 | 1.32 | 39.6 | 15525000 | TECHM.May 28 | 521.05 | -1.28 | 26.32 | 15920400 | |
| ULTRACEMCO.May 28 | 3770 | 3.68 | 36.01 | 2749400 | DABUR.May 28 | 431 | -0.14 | 26.32 | 12538750 | |
| PAGEIND.May 28 | 18750.05 | 3.2 | 28.36 | 165325 | HDFC.May 28 | 1506.9 | -0.58 | 25.07 | 24977250 | |
| IGL.May 28 | 469.55 | 4.48 | 26.8 | 5347375 | GODREJPROP.May 28 | 599.25 | -0.52 | 24.67 | 308750 | |
| AMBUJACEM.May 28 | 187.5 | 0.67 | 26.53 | 19065000 | BHARTIARTL.May 28 | 557.95 | -5.81 | 19.98 | 53016342 | |
| Short Covering | Long unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| UJJIVAN.May 28 | 150.1 | 1.62 | -39.17 | 2482000 | NIFTYIT.May 28 | 13545 | -1.66 | -45.16 | 850 | |
| PNB.May 28 | 26.8 | 0.94 | -29.74 | 24568000 | GLENMARK.May 28 | 347.65 | -1.17 | -26.42 | 2347800 | |
| EQUITAS.May 28 | 41.25 | 1.23 | -27.39 | 6987400 | L&TFH.May 28 | 51.3 | -0.19 | -25.48 | 18200000 | |
| IDFCFIRSTB.May 28 | 19.95 | 6.97 | -26.73 | 85728000 | ESCORTS.May 28 | 870.05 | -2.19 | -23.71 | 1843600 | |
| RBLBANK.May 28 | 111 | 3.4 | -24.96 | 12318000 | MANAPPURAM.May 28 | 114.05 | -0.52 | -22.52 | 10980000 | |
Get Stock Market Recommendation By Our Research Analysts
Top Delivery Percentage
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Hindustan Unilever Ltd | 1977.8 | -0.51 | 4629114 | 3290428 | 61.62 | Nifty Metal | 1756.35 | 2.68 | 79647 | |
| Power Grid Corporation o | 157.35 | 0.96 | 10413408 | 8526619 | 60.44 | Nifty Auto | 5854.3 | 1.51 | 79647 | |
| HCL Technologies Ltd. | 524 | -1.21 | 4055697 | 3781198 | 58.98 | Nifty FMCG | 28122.3 | 1.21 | 79647 | |
| Page Industries Limited | 18706.25 | 3.28 | 70649 | 22247 | 57.69 | Nifty Realty | 165.5 | 1.19 | 79647 | |
| NESTLEIND | 16655.15 | 2.71 | 198692 | 63610 | 53.77 | Nifty Bank | 17440.35 | 0.93 | 79644 | |
| HDFC Ltd. | 1502.15 | -0.92 | 12752510 | 6249342 | 51.93 | Nifty 50 | 9029.05 | -0.11 | 79644 | |
| TECH MAHINDRA LIMITED | 520.45 | -1.74 | 2719798 | 2127756 | 50.01 | Nifty Media | 1137.65 | -0.22 | 79647 | |
| TATA CONSUMER PRODUCTS | 371.95 | 2.62 | 7728762 | 1917147 | 48.43 | Nifty Pharma | 9483.5 | -1.22 | 79647 | |
| HDFC LIFE INSURANCE COMP | 507.45 | 2.57 | 4215640 | 2215388 | 48.14 | Nifty IT | 13574.95 | -1.93 | 79644 | |
| GODREJPROP | 602.35 | -0.03 | 285056 | 151020 | 46.05 | INDIA VIX | 31.47 | -2.81 | 79644 | |
Upcoming Economic Data
| Domestic International | |
| •INR: GDP Quarterly (YoY) (Q4) on 29th May, 2020
•INR: Infrastructure Output (YoY) (Apr) on 29th May, 2020 |
•USA: Crude Oil Inventories on 28th May, 2020
•USA: GDP (QoQ) (Q1) on 28th May, 2020 |
Open Your Demat Account to Invest in Upcoming IPO’s
News Updates
| •Promoter firm Bharti Telecom has sold 2.75 per cent stake in Airtel to institutional investors in the secondary market, raising over Rs.8,433 crore, the company said on Tuesday. The sale proceeds will be fully utilised to repay debt at Bharti Telecom and will make the promoter holding company a ‘debt free company’, it said. Bharti Group and Singtel will continue to hold a majority stake in Bharti Airtel at 56.23 per cent after the transaction, it added.
•Bata India will refrain from both discounting and increasing product price as popular tactics to compensate for revenue loss faced due to lockdown and rise in operating cost of its physical stores in the new normal. “We are maintaining pre-Covid pricing for our products despite an increase in our operational cost post lockdown. •India’s gross domestic product (GDP) is estimated to have grown at 1.2 per cent in the fourth quarter of the last fiscal hit by economic shutdown due to the coronavirus crisis, a report said. The GDP growth is expected to be 4.2 per cent for FY20 and (-) 6.8 per cent for fiscal year 2020-21, SBI’s Ecowrap report said. •Coal India’s consultancy arm CMPDIL has been roped in by NTPC to make separate mining plans for Banai and Bhalumuda coal mines in Chhattisgarh with an aim to maximise the extractable reserves by merging operations of the two mines. The coal ministry had recently asked NTPC to prepare separate mining plans for both the blocks, an official said. Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name5 | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| APLAB | General | 27-May-20 | JPASSOCIAT | Audited Results | 27-May-20 |
| BEARDSELL | Right Issue of Equity Shares;General | 27-May-20 | JSWHL | Audited Results | 27-May-20 |
| BODALCHEM | Amalgamation;General | 27-May-20 | KPITTECH | Final Dividend;Audited Results | 27-May-20 |
| COMPUSOFT | Final Dividend;General;Audited Results | 27-May-20 | MINDTECK | Final Dividend;Quarterly Results | 27-May-20 |
| DABUR | Final Dividend;Audited Results | 27-May-20 | SUNPHARMA* | Final Dividend;Audited Results | 27-May-20 |
| FOSECOIND | Quarterly Results;General | 27-May-20 | UJJIVAN | Dividend;Audited Results | 27-May-20 |
| HERITGFOOD | A.G.M.;Dividend;Audited Results | 27-May-20 | UNITDSPR | Quarterly Results;Audited Results | 27-May-20 |
| INDIGRID | General;Audited Results | 27-May-20 | VAIBHAVGBL | Final Dividend;Audited Results | 27-May-20 |
Corporate Action
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| INFY | 29-May-20 | Final Dividend – Rs. – 9.50 | PAPERPROD | 11-Jun-20 | Final Dividend – Rs. – 3.00 |
| COLPAL | 1-Jun-20 | Interim Dividend – Rs. – 16.00 | KANSAINER | 12-Jun-20 | Dividend – Rs. – 3.15 |
| INDIGRID | 1-Jun-20 | Income Distribution (InvIT) | AVANTEL | 17-Jun-20 | Final Dividend – Rs. – 2.00 |
| TCS | 3-Jun-20 | Final Dividend – Rs. – 6.00 | TATACONSUM | 18-Jun-20 | Final Dividend – Rs. – 2.70 |
| DICIND | 4-Jun-20 | Final Dividend – Rs. – 4.50 | TATACHEM | 22-Jun-20 | Final Dividend – Rs. – 11.00 |
| NESTLEIND | 11-Jun-20 | Final Dividend – Rs. – 61.00 | SANOFI | 29-Jun-20 | Special Dividend – Rs. – 243.00 |
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
For Daily Share Market Updates, Daily debt market review, Market Research Analysis reports, Weekly Techno-Funda Report, Fundamental Analysis Report, Monthly Recommended stock Picks, Equity Trading Tips, Upcoming IPO/NFO/Bonds/Ncd’s updates & other related information Subscribe our research plan