outlookNIFTY:

After four days of narrow range movement nifty had a decent day today. Gaining almost 128 points to close at 10430. The nifty opened almost unchanged in the morning and then after stabilizing for an hour began an up move that took it almost 120 points higher towards 10430.

The index had a decent rally from yesterday’s close and reached the resistance level of 10420. it also broke above this level intraday.

At current level it is possible that nifty may start moving towards 10550 level.

The intermediate trend continues to be up. Traders can initiate long position at CMP with a strict stop loss of 10380 and for the quick target of 10520.

BANK NIFTY:

Bank nifty opened at 21354.10 without much of gap prices have seen a rally throughout the day and then closed at top of the day at 21977 with a gain of 607 points .

We have been mentioning a narrow trading range inside 21800 – 20900 from last few days . This range has broken on upside today and index closed just above this range.

Now since this trading range has broken traders can initiate fresh long position at CMP with a small stop loss and for the target of 22600.

TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
AXISBANK 433.25 BUY The stock has corrected after a rally and has started an up move again. Traders should buy  above 435 with a stop at 427 and target of  448
CHOLAFIN 197 BUY The stock has corrected after a rally and has started an up move again. Traders should buy  at CMP with a stop at 193 and target of  207

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
HDFCBANK 1080CE BUY 41.50 CMP 36 55 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
M&MFIN.20.07 Jul 173.5 3.99 20.52 12381600 GLENMARK.20.07 Jul 435.45 -3.1 19.05 6785000
BANKNIFTY.20.07 Jul 21853.95 3.02 20.05 1508225 JUSTDIAL.20.07 Jul 374.65 -1.12 14.14 1831200
BANKBARODA.20.07 Jul 51.6 6.28 19.31 47018800 LT.20.07 Jul 924.65 -1.6 12.32 10456600
CANBK.20.07 Jul 105.75 5.17 17.3 10850000 PETRONET.20.07 Jul 257 -0.08 12.02 17136000
IBULHSGFIN.20.07 Jul 222.95 8.2 16.23 13630700 APOLLOHOSP.20.07 Jul 1325.5 -1.74 11.77 1462500
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
BHARATFORG.20.07 Jul 337.5 6.38 -8.31 6523500 IDEA.20.07 Jul 10.1 -5.16 -9.5 362880000
TORNTPOWER.20.07 Jul 321.7 0.96 -3.51 1731000 MRF.20.07 Jul 65985.1 -1.32 -0.52 15270
UJJIVAN.20.07 Jul 232.65 7.46 -2.48 3462800 GRASIM.20.07 Jul 616.2 -0.32 -0.1 18855600
PVR.20.07 Jul 965 1.4 -2.13 1266000
SUNTV.20.07 Jul 404.8 0.6 -1.19 4981500

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Godrej Cons Products Ltd 694.85 0.59 708593 2463712 75.15 Nifty Bank 21977.6 2.84 73938
Hindustan Petroleum Corp 222.35 2.58 9279385 4907375 62.85 Nifty 50 10430.05 1.24 73938
Hcl Technologies Ltd. 551.75 -0.92 3004138 1838881 59.12 Nifty Fmcg 30232.5 0.56 73938
Torrent Pharma Ltd. 2338.1 -1.43 427437 331828 55.81 Nifty Energy 14474.35 0.54 73938
Sbi Life Insurance Compa 805.25 -0.15 1320581 1108946 54.03 Nifty Metal 1997.35 0.3 73938
Itc Ltd. 202.9 4.24 44295451 22246990 53.98 Nifty Auto 6718.6 -0.01 73938
Amara Raja Batt Ltd 660.6 1.57 1091795 559316 50.48 Nifty it 14732.15 -0.15 73938
Tata Consumer Products l 384.5 -0.76 1611560 932248 50.08 Nifty Realty 201.2 -0.72 73938
Info Edge (india) Limite 2758.9 -0.11 282709 129388 49.03 Nifty Pharma 9882.85 -1.02 73938
Dabur India Ltd. 466.6 0.14 2383692 2427955 48.57 India Vix 28.12 -3.43 73938

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR:  Nikkei Services PMI (Jun) on 3rd July, 2020

•INR: Bank Loan Growth on  3rd July, 2020

•USA: ISM Non-Manufacturing PMI (Jun) on  6th July, 2020

•USA: PPI (MoM) (Jun) on  10th July, 2020

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NEWS UPDATES

•Supply VE Commercial Vehicles Limited’s subsidiary Eicher Motors Limited reported 70.3 per cent fall in sales for June at 1,358 compared to 4,569 in June 2019. The company sold 1,321 trucks and buses in India and exported 305 vehicles and 37 Volvo Trucks. Among all segments, LMD bus category saw 92 per cent fall in the monthly sale. The dip in sales has been primarily due to the coronavirus-induced lockdown. June was the first full month of operations since the lockdown restrictions were eased in the middle of May.

•The auto sector reported a 15 per cent decline in revenue in the January-March quarter of 2019-20 while pharma, fertilizers and telecom sectors showed positive growth, an analysis by the India Ratings and Research (Ind-Ra) said. Ind-Ra’s analysis is based on the fourth quarter results of 190 companies.

•Stocks such as Aarti Industries, Abbott India, Adani Gas, HDFC AMC and ICICI Lombard General Insurance are likely to qualify to be a part of the F&O (futures and options) segment, ICICIdirect said in a note on Wednesday. Other stocks such as Deepak Nitrate, IPCA Lab, L&T Infotech, Pfizer, PI Industries, and Trent could also be on the list, the brokerage said on Wednesday.

•The Reserve Bank of India issued guidelines for a special liquidity facility to support the country’s non-bank lenders. The facility, under which a special purpose vehicle will purchase short-term debt securities of non-bank finance companies and housing finance companies, was announced by the government in May.

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

BOARD MEETINGS

Company Name5 Purpose Ex-Date Company Name Purpose Ex-Date
AXISBANK General 2-Jul-20 DYNAMATECH Audited Results 3-Jul-20
LANCER General 2-Jul-20 GATI Audited Results;Quarterly Results 3-Jul-20
MAHSEAMLES Audited Results;Dividend 2-Jul-20 INDGELA Audited Results;Dividend 3-Jul-20
TATAPOWER Preferential issue;Rights Issue 2-Jul-20 INDOGLOBAL Audited Results 3-Jul-20
TFL General 2-Jul-20 IWP Audited Results;Dividend 3-Jul-20
WPIL Audited Results 2-Jul-20 KAMAHOLD Audited Results;Final Dividend 3-Jul-20
ADCINDIA General 3-Jul-20 KUANTUM Results;Dividend;General;Stock  Split 3-Jul-20
ARISINT Audited Results;General 3-Jul-20 PRAVEG Audited Results;Final Dividend 3-Jul-20
DCMFINSERV Audited Results 3-Jul-20 RAHME Audited Results 3-Jul-20
DUROPLY A.G.M.;General;Quarterly Results 3-Jul-20 SABOOBR Audited Results 3-Jul-20
DVL Audited Results;Dividend 3-Jul-20 SAIL Audited Results 3-Jul-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
AMRITCORP 2-Jul-20 Buy Back of Shares SUNDARMFIN 2-Jul-20 Final Dividend – Rs. – 3.00
BALRAMCHIN 2-Jul-20 Buy Back of Shares SWARAJENG 2-Jul-20 Dividend – Rs. – 25.00
HINDPETRO 2-Jul-20 Final Dividend – Rs. – 9.75 SWARAJENG 2-Jul-20 Special Dividend – Rs. – 15.00
JUSTDIAL 2-Jul-20 Buy Back of Shares TAHL 2-Jul-20 Bonus issue 1:4
KARDA 2-Jul-20 Stock  Split From Rs.10/- to Rs.2/- ITC 6-Jul-20 Dividend – Rs. – 10.15
MPHASIS 2-Jul-20 Final Dividend – Rs. – 35.00 JSWSTEEL 6-Jul-20 Final Dividend – Rs. – 2.00
RELIANCE 2-Jul-20 Dividend – Rs. – 6.50 MINDTREE 6-Jul-20 Final Dividend – Rs. – 10.00

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


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