outlookNIFTY:

The Nifty followed the world markets on Friday and opened with a gap up of 90 points at 10378.90. The index traded very choppy and narrow with lots of ups and downs during the day. The intraday range was very narrow today of just 98 points. After moving random intraday the index finally closed at 10383 near its opening prices; up by 94.10 points. The gains were mainly contributed by the IT Stocks. INFY closed higher by 6.64% while TCS was up by 4.92%. FMCG was the underperformer today and closed lower by 1.18%. Nifty is trading rang bound after a rally of more than 500 points in just a few days. The immediate range of Nifty is between 10228-10518. The range is very narrow and a  breakout from this range may lead to a move 200 points.

The long term trend remains up. Momentum is moving into an extreme position again after having softened for a few days. Strong momentum can also suggest strength if the strength persists.

Intraday traders can go long above 10410 or go short below 10310 keeping the opposite levels as stop losses.

BANK NIFTY:

Bank Nifty opened at 21735.05 with a gap up of 235 points. The index traded very choppy and narrow today. Prices have closed at 21661.75 with a gain of 161 points. PSU and Private banks have performed same today and closed higher. Within the index, in terms of points HDFC Bank contributed the highest while Kotak Bank the least. Bank Nifty is still trading inside the range of 19500-21600. The index closed at the top of this range.

Long term traders need to watch the market carefully and  wait for an apt trade. While intraday traders can look to buy above 21800 or sell below 21300 having a stop of 300 points and target of 500 points.

TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
HDFCBANK 1056.45 BUY Intermediate and short term trends are up. The stock has rallied and is trading in a narrow range. The stock closed at the upper end of the range and can breakout. It can be bought above 1061 with a stop loss at 1038 for the target of 1092.
INDIGO 1028.55 SELL The immediate trend of the stock is sideways. The price has faced resistance from 1070 multiple times. Prices may hold this resistance. It can be sold at 1023 with a stop loss above 1043 and for  the target of  983.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
RELIANCE 1743 CE BUY 79.25 CMP 70 95 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
IDEA.Jul 30 10.4 4.52 111.62 364700000 APOLLOHOSP.Jul 30 1386.5 -3.89 58.19 1791500
JUSTDIAL.Jul 30 379.7 3.94 42.39 1598800 ASHOKLEY.Jul 30 51.8 -3.45 31.29 38817000
MINDTREE.Jul 30 940 3.35 36.73 1780800 UBL.Jul 30 1011.25 -3.31 24 893200
GLENMARK.Jul 30 466 0.98 30.15 4795500 RBLBANK.Jul 30 186.65 -0.05 16.96 18720000
UJJIVAN.Jul 30 230.8 4.55 24.6 3086600 CHOLAFIN.Jul 30 197.85 -2.39 14.99 7902500
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
GAIL.Jul 30 105.05 1.79 -1.1 33855000 MFSL.Jul 30 517.35 -2.64 -14.22 1285700
BANKNIFTY.Jul 30 21522.95 0.39 -1.02 1249375 GODREJPROP.Jul 30 866.9 -2.04 -4.85 395200
MGL.Jul 30 1074.25 0.12 -0.27 656400 MUTHOOTFIN.Jul 30 1087.3 -1.78 -1.16 2944500
MANAPPURAM.Jul 30 156.7 -0.7 -0.64 14010000
BHEL.Jul 30 37.05 -2.63 -0.61 47775000

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hcl Technologies Ltd. 562.4 2.25 7034881 4003497 63.01 Nifty it 14994.65 4.05 86934
Hindustan Unilever Ltd 2154.2 -0.87 3176495 5008754 61.02 Nifty Energy 14832.65 2.26 86934
Godrej Cons Products Ltd 685.45 1.35 1515673 1166264 60.61 Nifty 50 10383 0.91 86934
Britannia Ind Ltd. 3456.4 0.17 448352 318758 58.33 Nifty Metal 2043.35 0.62 86931
Nmdc Limited 84.15 -0.12 5880981 7684782 56.81 Nifty Bank 21592.05 0.4 86934
Nestleind 16677.5 -0.65 110342 95461 56.26 Nifty Media 1402.1 0.07 86934
Ambuja Cements Ltd 188 0.94 3304712 2424641 54.13 Nifty Auto 6731.45 -0.09 86931
Tata Consumer Products l 385.65 0.43 1759164 1043741 53.2 Nifty Pharma 10137.85 -0.54 86934
Infosys Limited 748.2 6.81 26030535 7828966 52.38 Nifty Fmcg 29757.05 -1.18 86934
Muthootfin 1090 -1.34 3467591 2061356 52.34 India Vix 28.73 -3.35 86934

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR: Federal Fiscal Deficit (May) on 30th June, 2020

•INR: Infrastructure Output (YoY) (May) on 30th June, 2020

•USA: Pending Home Sales (MoM) (May) on 29th June, 2020

•USA: ISM Manufacturing PMI (Jun) on  1st July, 2020

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NEWS UPDATES

•Carlyle Group will purchase a 20% stake in Indian billionaire Ajay Piramal pharmaceutical business, according to an exchange filing. The private equity fund will pay $490 million for the holding, valuing the business at an enterprise value of $2.7 billion. In addition to helping expand capacity of the pharmaceutical operations, the Piramal group will use the money to repay some of parent Piramal Enterprises Ltd.’s debt, the filing said.

•ITC Ltd, India’s largest cigarette maker, said all its factories are currently operational and sales and distribution are returning to normalcy, after India lifted nearly all lockdown measures that had disrupted production and supplies of tobacco products. The cigarettes and consumer goods maker on Friday reported a 9% rise in its fiscal-fourth quarter profit, beating analysts’ estimates. Net profit rose to Rs. 3,797.08 crore in the three months ended 31 March from Rs.3,481.90 crore a year earlier.

•Axis Bank on Saturday clarified that S&P Global ratings inadvertently mentioned the bank being on credit watch. In a notification to the stock exchanges, the private sector lender said that S&P confirmed that it was an editorial error and the bank is on stable outlook.

•Glenmark Pharmaceuticals posted a 36.28 per cent increase in its consolidated net profit to Rs 220.3 crore for the fourth quarter ended March 31, 2020. The Mumbai-based drug firm had reported a net profit of Rs 161.66 crore for the corresponding period of 2018-19. The company’s consolidated revenue for the quarter rose 7.96 per cent to Rs 2,767.48.

Source: Economic Times,  Moneycontrol  ,Business Today,Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name5 Purpose Ex-Date Company Name Purpose Ex-Date
ANDHRACEMT Quarterly Results 29-Jun-20 IRIS Audited Results 29-Jun-20
AUROLAB Audited Results;General 29-Jun-20 J&KBANK Audited Results 29-Jun-20
BAJAJHIND Audited Results 29-Jun-20 KIRIINDUS Final Dividend;Quarterly Results 29-Jun-20
BALAJITELE Audited Results 29-Jun-20 MRF Audited Results;Final Dividend 29-Jun-20
BEL Results;Final Dividend 29-Jun-20 MSTC Audited Results;Dividend 29-Jun-20
CANTABIL Quarterly Results 29-Jun-20 PARAGMILK Audited Results;Dividend 29-Jun-20
CENTRALBK Audited Results 29-Jun-20 PCJEWELLER Audited Results 29-Jun-20
CESC Audited Results 29-Jun-20 RCOM Audited Results 29-Jun-20
GMRINFRA Audited Results 29-Jun-20 SREINFRA Audited Results;Final Dividend 29-Jun-20
IFSL Audited Results 29-Jun-20 SURAJ Audited Results 29-Jun-20
IL&FSENGG Quarterly Results 29-Jun-20 TATASTEEL Results;Final Dividend;General 29-Jun-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
NAM-INDIA 29-Jun-20 Final Dividend – Rs. – 2.00 AMRITCORP 2-Jul-20 Buy Back of Shares
SANOFI 29-Jun-20 Special Dividend – Rs. – 243.00 BALRAMCHIN 2-Jul-20 Buy Back of Shares
SANOFI 29-Jun-20 Final Dividend – Rs. – 106.00 HINDPETRO 2-Jul-20 Final Dividend – Rs. – 9.75
ABFRL 30-Jun-20 Right Issue of Equity Shares 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
TATAINVEST 1-Jul-20 Dividend – Rs. – 18.00 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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