outlookNIFTY:

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.

TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
       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.

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
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
Sector Price Price% OI% OI Sector Price Price% OI% OI
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

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
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
NESTLEIND 16989.15 1.63 176289 81563 48.68 Nifty IT 14028.6 0.54 1712446
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

   Domestic                                                                                                                                                  International
•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

Open Your Demat Account to Invest in Upcoming IPO’s

Demat-and-Trading-Account-Promotion-Banner

News Updates

•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

BOARD MEETINGS

Company Name5 Purpose Ex-Date Company Name Purpose Ex-Date
3MINDIA Audited Results;General 29-May-20 METROPOLIS Audited Results;General 29-May-20
BLUESTARCO General 29-May-20 NCC Audited Results;Dividend 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

Corporate Action

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


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