outlookNIFTY:

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

Elite-Kuber-Mutual-Fund-Promotional-Banner-img

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

Market-Research-Promotional-Banner-img5

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

Demat-and-Trading-Account-Promotion-Banner

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