The NIFTY opened with a significant gap in anticipation of a press conference by the RBI. The Conference was held at 10 AM and the RBI governor gave a number of benefits and incentives on the monetary front.
Once the RBI governor had completed his conference, the NIFTY started to slow slide down. Just before the Govenor’s address, the NIFTY had touched 9000 a psychological number. But the index finally closed at 8660, lower than the highs of the day, but still with a gain of 18.8 points.
It is possible that the market is now developing a wide range and large trading range with support at 7500 and resistance at 8950. if this is so, then we will see a repeat of moves from 8950 zone to 7500 and then again from the 7500 to 8950.
These are tentative levels for the market. We have to see whether these levels are finally respected or new zone are created.
|BANDHANBANK||249.55||BUY||The stock has given the breakout with volume on the intraday as well as on the daily chart. The stock can be bought at CMP with a stop loss of 224 and for the target of 275-290.|
|SUNTV||286.90||SELL||The immediate trend of the stock is weak . The stock can be sold at CMP with a stop loss of 295 and for the target of 270.|
|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|BAJFINANCE||2500 PE||BUY||318.25||CMP||227||550||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|CIPLA.Apr 30||406.85||5.55||3243.21||9342600||HDFCLIFE.Apr 30||438.6||-8.06||8818.69||8588700|
|INFRATEL.Apr 30||158.1||1.44||3025.66||7064000||MGL.Apr 30||821.2||-4.67||3480.33||1310400|
|BANDHANBNK.Apr 30||246.95||14.28||2901.78||10122000||HCLTECH.Apr 30||434.6||-1.93||2277.03||19700800|
|AXISBANK.Apr 30||362.1||5.34||2310.01||44479200||M&MFIN.Apr 30||162.25||-0.61||2247.77||9278400|
|HAVELLS.Apr 30||514.2||4.4||2219.02||4754000||LUPIN.Apr 30||552.25||-0.86||1747.72||5096000|
|Short Covering||Long unwinding|
|JINDALSTEL.Apr 30||89.7||1.01||-68.03||4940000||PVR.Apr 30||1227.9||-4.81||-50.13||677200|
Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Ambuja Cements Ltd||141.55||-1.74||7706575||10213168||70.88||Nifty Bank||19969||1.81||22856566|
|HCL Technologies Ltd.||430.65||-3.81||9151132||6559488||69.01||Nifty Metal||1554.85||0.77||2.98E+08|
|Petronet LNG Limited||193.45||1.79||4371887||4252872||68.26||Nifty Pharma||6813.05||0.56||68051048|
|Godrej Cons Products Ltd||499.45||-0.22||2579284||2115017||59.11||Nifty FMCG||25740.45||0.24||970123|
|TATA CONSULTANCY SERV LT||1824.5||1.87||4331310||2650292||58.17||Nifty 50||8660.25||0.22||53212553|
|HDFC Ltd.||1754||1.2||9048464||6942634||57.36||Nifty Energy||10626.3||-0.14||3220562|
|ITC Ltd.||163.2||4.35||32636891||33043590||56.54||Nifty Media||1055.4||-1.13||4.35E+08|
|VODAFONE IDEA LIMITED||3.2||-1.54||1.06E+08||81040317||56.47||INDIA VIX||70.39||-1.59||65847952|
Upcoming Economic Data
|•INR: Federal Fiscal Deficit (Feb) on 31st March ,2020
•INR: Infrastructure Output (YoY) (Feb) on 31st March, 2020
|•USA: Pending Home Sales (MoM) (Feb) on 30th March , 2020
•USA: ISM Manufacturing PMI (Mar) on 1st April, 2020
|•Tata Motors Ltd., the Indian owner of Jaguar Land Rover, plans to separate its cars business from trucks and buses, as the company seeks partners for a unit slammed by the coronavirus outbreak and a global shift to electric vehicles. Car sales in India fell for a 16th consecutive month in February, and that’s set to continue as the virus outbreak limits travel nationwide, and financing new vehicl vehicles becomes difficult.
•State-owned Union Bank of India, which is amalgamating Andhra Bank and Corporation Bank with it, hopes to reap cost benefits of over Rs 2,500 crore through rationalisation of branches and savings on technology on the combined entity. The combined entity will have 9,500 branches and 12,000 ATMs across the country.
•County’s banking behemoth the State Bank of India raised $100 million via dedicated bonds despite challenges in global financial markets, charred by COVID19 outbreak. The transaction reinforces that investors still bet on sovereign-backed issuances from emerging markets like India. “It is an extremely important transaction for India especially in this critical situation,” said Rajnish Kumar, Chairman, SBI. We believe this issuance will reassure confidence in India’s strength in the international bond market.
•Sun Pharmaceuticals Industries Ltd (Sun Pharma) on Sunday said that its Halol plant in Gujarat has been classified as ‘Official Action Indicated’ (OAI) by the United States Food .
Source: Economic Times, Moneycontrol ,Business Today, Business Standard, Bloomberg Quint
|Company Name5||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|MEHSECU||General||30-Mar-20||HINDUNILVR||Scheme of Arrangement||1-Apr-20|
|PALMJEWELS||General||30-Mar-20||FRANKLININD||General;Scheme of Arrangement||15-Apr-20|
|FLORACORP||General||31-Mar-20||KANSAFB||Reduction of Capital;General||15-Apr-20|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|HEXAWARE||30-Mar-20||Final Dividend – Rs. – 2.50||CASTROLIND||22-Apr-20||Final Dividend – Rs. – 3.00|
|JUNCTION||30-Mar-20||Bonus issue 1:2||VESUVIUS||22-Apr-20||Final Dividend – Rs. – 8.74|
|CRISIL||31-Mar-20||Final Dividend – Rs. – 13.00||KSB||23-Apr-20||Dividend – Rs. – 8.00|
|NACLIND||31-Mar-20||Interim Dividend – Rs. – 0.10||TAHL||23-Apr-20||Bonus issue 1:4|
|TIPSINDLTD||31-Mar-20||Buy Back of Shares||MADHAVIPL||27-Apr-20||Stock Split From Rs.10/- to Rs.1/-|
|AMBUJACEM||3-Apr-20||Final Dividend – Rs. – 1.50||ABB||5-May-20||Dividend – Rs. – 4.80|
|IRCON||3-Apr-20||Stock Split From Rs.10/- to Rs.2/-||NESTLEIND||14-May-20||Final Dividend – Rs. – 61.00|
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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