NIFTY:
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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