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 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.
|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.|
Get All Your Mutual Fund Portfolio Retuns on Your Mobile by Elite Kuber App
|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|
|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|
Get Stock Market Recommendation By Our Research Analysts
TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|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|
|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|
UPCOMING ECONOMIC DATA
|•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
|•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
|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|
|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
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