The NIFTY continue it’s up move, first opening with a gap and then building on the Gap to close at the highest point of the day. After the initial Gap up, the Index was range bound for the rest of the day, finally moving towards its high just as the market was closing. The NIFTY closed at 9490, up 175 points, 1.88%. This gain comes on the back of significant gains made yesterday. The index in its final hour, made a high at 9511.
The long term trend remains down. The intermediate trend, which is also the trend useful for traders, is UP. When the intermediate trend is up, traders should be looking to buy on dips as well as appropriate breakout.
Target for our uptrend have already been meet today. Fot tomorrow we would suggest remainig cautious. We do not think buying is probably going to be a good idea.
A move below 9437 could suggest some kind of an intraday decline. Only intraday traders should go short below this level. If you do take the trade, your stop should be above 9511.
There is always the possibiliy that the market may give another up move tomorrow. We are not keen to take a trade on the long side, but there may be circumstance at the open tomorrow, which can create condition for a long trade. Traders may consider buying above 9511 with a stop under 9437.
|BHARTIARTL||562.75||BUY||The intermediate and short-term trends are up in BHARTIARTL. The stock price is correcting and finding support near 555 zone from last two trading days. Should buy above 564 with a stop loss of 553 and a target around 586.|
|HINDPETRO||185.85||SELL||The immediate trend of the stock is weak . The stock has seen a sharp decline and then started a process of correction in a shape of bearish flag. Should look for a selling opportunity below 184 with a stop just above 187and a target near 168.|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|RELIANCE||1480 CE||BUY||50||CMP||41.50||65||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|Short Covering||Long unwinding|
|MARICO.May 28||321.95||0.41||-75.11||1682200||SBILIFE.May 28||737.7||-2.26||-79.54||347250|
|PETRONET.May 28||233.7||0.3||-75.06||1230000||MGL.May 28||918.6||-1.09||-70.26||177000|
|INDUSINDBK.May 28||369.4||5.94||-69.07||3242400||AMBUJACEM.May 28||187.15||-0.51||-70.22||3012500|
|BOSCHLTD.May 28||9417.35||0.21||-69.05||19600||CONCOR.May 28||349.2||-0.57||-70.2||690846|
|BANDHANBNK.May 28||219.3||9||-66.8||2572800||TATAPOWER.May 28||35.7||-0.56||-68.53||11340000|
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Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Power Grid Corporation o||157.25||0.06||14510845||9277697||72.8||Nifty Auto||6112.3||3.65||93664318|
|Page Industries Limited||18406.8||-0.97||29033||33963||64.8||Nifty Media||1178.35||3.62||484828618|
|Hindustan Unilever Ltd||2009.95||0.59||5500915||2554737||59.95||Nifty Realty||172.7||2.55||2147483500|
|SBI LIFE INSURANCE COMPA||748.1||0.94||1134155||401466||58.8||Nifty Bank||19169.8||2.45||29640296|
|Siemens Ltd||1071.5||5.17||897194||271899||54.09||Nifty Metal||1844.5||2.4||309157382|
|HDFC Ltd.||1623.7||3.39||10262028||6420302||51.66||Nifty 50||9490.1||1.88||60068883|
|HCL Technologies Ltd.||542.65||2.2||4492817||2470307||51.16||Nifty FMCG||28451.6||0.81||1482771|
|TATA CONSUMER PRODUCTS||371.15||0.71||3390919||1640718||48.48||Nifty Pharma||9464.5||0.01||59959438|
|Power Finance Corporatio||77.3||0.52||6493682||4229152||46.83||INDIA VIX||30.02||-4||185510823|
Upcoming Economic Data
|•INR: GDP Quarterly (YoY) (Q4) on 29th May, 2020
•INR: Infrastructure Output (YoY) (Apr) on 29th May, 2020
|•USA: Personal Spending (MoM) (Apr) on 29th May, 2020|
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|•Google is exploring an investment in Vodafone’s India business in a move that could pit the US internet group in a battle against Facebook for the world’s fastest-growing mobile market, Financial Times reported, citing people familiar with the matter.Google was considering buying stake of about 5% in Vodafone Idea, a partnership between the UK telecoms company and Aditya Birla Group that has been under severe financial strain, the report said.
•Abu Dhabi state fund Mubadala Investment Company is in talks to invest about $1 billion in Reliance Industries’ digital unit Jio platforms, three sources said on Thursday.
•TVS Motor Company on Thursday posted a 44.82 per cent year-on-year (YoY) fall in net profit at Rs 73.87 crore for the quarter ended March 31.
•With incremental bank lending making up the bulk of the government’s nearly Rs 21 lakh crore stimulus package, lenders face significant asset quality challenges which can increase their dud loan ratios by up to 6 percentage points over the next two years, warns a report. The impact of forced lending on banks’ impaired-loan ratios can be anywhere between 200 and 600 basis points (bps), depending on the severity of stress and banks’ individual risk exposures and the higher regulatory provisions, Fitch Ratings said in the report on Thursday.
Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint
|Company Name5||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|3MINDIA||Audited Results;General||29-May-20||METROPOLIS||Audited Results;General||29-May-20|
|DBL||Audited Results;Final Dividend||29-May-20||PGHL||Quarterly Results||29-May-20|
|EQUITAS||Audited Results||29-May-20||RCF||Audited Results;Final Dividend||29-May-20|
|EVERESTIND||Audited Results;Final Dividend||29-May-20||SUNDARMFIN||Audited Results;Final Dividend||29-May-20|
|JUBILANT||Audited Results;General;Quarterly Results||29-May-20||SYMPHONY||Audited Results||29-May-20|
|KEC||Audited Results||29-May-20||VMART||Audited Results;Final Dividend||29-May-20|
|LEMONTREE||Audited Results;General||29-May-20||VOLTAS||Audited Results;Dividend||29-May-20|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|INFY||29-May-20||Final Dividend – Rs. – 9.50||TANLA||9-Jun-20||Buy Back of Shares|
|COLPAL||1-Jun-20||Interim Dividend – Rs. – 16.00||ESABINDIA||11-Jun-20||Interim Dividend – Rs. – 70.00|
|INDIGRID||1-Jun-20||Income Distribution (InvIT)||NESTLEIND||11-Jun-20||Final Dividend – Rs. – 61.00|
|TCS||3-Jun-20||Final Dividend – Rs. – 6.00||PAPERPROD||11-Jun-20||Final Dividend – Rs. – 3.00|
|DICIND||4-Jun-20||Final Dividend – Rs. – 4.50||KANSAINER||12-Jun-20||Dividend – Rs. – 3.1500|
|KKCL||4-Jun-20||Interim Dividend – Rs. – 6.00||TATACOFFEE||12-Jun-20||Dividend – Rs. – 1.50|
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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