outlookNIFTY:

Indian markets begin their out performance at the opening bell itself, when the nifty opened at 10311, down from Friday but not significantly in the red. Markets moved in a narrow range today, making a low of 10223 and then beginning a rally that saw it close at 10312, down 70 points.

Today’s trading was marked by a narrow range, with the nifty moving barely 115 points during the day. The second feature of today’s trade was a reasonably sharp rally above 10,200 supports.

The intermediate trend is up, momentum on the intermediate trend has been falling and has just come to a point where support is visible. Any sign of a rally tomorrow should be taken as a positive signal and traders should look to go long because intermediate momentum is oversold.

BANK NIFTY:

Bank nifty opened at 21291.55 with a gap down of 370 points. The index continued trading very choppy and narrow today. Prices have closed at 21359.25 with a loss of 233 points.

Bank nifty remained inside its trading range 19500 – 21600. the index is trading very narrow near the top of this range.

Last three days were very narrow. That gives us a setup to take a trade. We should take a trade in the direction of momentum. Direction may clear if index either breaks above 21800 or below 20900.

TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
BRITANNIA 3519.25 BUY Intermediate and short term trends are up. The stock has corrected after a rally and has started an up move again. It can be bought above 3530 with a stop loss at 3495 for the target of  3600.
COALINDIA 134.85 SELL The immediate trend of the stock is sideways. The price has faced resistance from 148 multiple times. Prices may hold this resistance. It can be sold below 134 with a stop loss above 135.55 and for  the target of  130.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
DIVISLAB 2300PE BUY 85.85 88 80 110 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BEL.20.07 Jul 87.55 2.82 29.62 21287600 ASHOKLEY.20.07 Jul 48.4 -7.19 36.38 41598000
JUSTDIAL.20.07 Jul 388 2.67 24.67 1726200 BHARATFORG.20.07 Jul 313.5 -10.96 35.91 7710000
MFSL.20.07 Jul 516 0.28 22.97 1517100 MGL.20.07 Jul 1044.75 -2.45 19.22 751800
GLENMARK.20.07 Jul 468.35 0.52 20.94 5724700 UBL.20.07 Jul 995.45 -1.51 18.95 1015000
IDEA.20.07 Jul 11.15 6.19 17.57 4.28E+08 SRTRANSFIN.20.07 Jul 687.15 -2.28 18.28 3355950
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
CIPLA.20.07 Jul 641.85 1.28 -0.95 12070500 UPL.20.07 Jul 428.75 -1.96 -8.81 8463000
CADILAHC.20.07 Jul 366.35 0.78 -4.3 5775000 BAJFINANCE.20.07 Jul 2880 -0.43 -4.41 6413250
NATIONALUM.20.07 Jul 32.05 -4.61 -3.93 35700000
MANAPPURAM.20.07 Jul 154 -1.66 -3.13 13188000
IBULHSGFIN.20.07 Jul 215.4 -4.67 -2.46 10701200

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Sbi Life Insurance Compa 786.8 0.31 597371 574596 58.27 Nifty Realty 203.7 -3.55 99723
Tata Consumer Products l 386.55 0.23 2764410 1016914 57.81 Nifty Metal 1989.5 -2.64 99720
Bharti Airtel Limited 567.1 1.2 12920745 6332052 57 Nifty Energy 14588.5 -1.65 99720
Nestleind 16724.85 0.28 169646 61169 55.44 Nifty it 14768 -1.51 99720
Britannia Ind Ltd. 3519.25 1.82 940186 229934 51.28 Nifty Auto 6645.85 -1.27 99720
Ambuja Cements Ltd 187.55 -0.24 3555861 1693255 51.24 Nifty Bank 21359 -1.08 99720
Ntpc Limited 94.9 -2.16 18135588 7857453 50.46 Nifty 50 10312.4 -0.68 99720
Divi S Laboratories Limi 2316.6 -1.45 519075 250638 50.42 Nifty Pharma 10135.9 -0.02 99723
Hindustan Unilever Ltd 2182.95 1.33 3295050 1590717 50.08 India Vix 28.91 0.59 99720
Godrej Cons Products Ltd 687.65 0.32 1506790 747184 49.3 Nifty Fmcg 29971.65 0.72 99720

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR: Federal Fiscal Deficit (May) on 30th June, 2020

•INR: Infrastructure Output (YoY) (May) on 30th June, 2020

•USA: CB Consumer Confidence (Jun) on 30th June, 2020

•USA: ISM Manufacturing PMI (Jun) on  1st July, 2020

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NEWS UPDATES

•HDFC Bank on Monday dismissed reports that it plans to raise Rs 13,000 crore via qualified institutional placement (QIP) plus issuance of American Depository Receipts (ADRs). The reports are “purely baseless and speculative”, the country’s largest private sector lender clarified in an exchange filing. “As a policy, the Bank does not comment on speculation/ rumours circulating in the market/ print/ online media.

•Around 95 per cent of consumer electronics and appliances sold in India are produced locally, although dependence on China for components still ranges between 25-70 per cent which will be difficult to reduce overnight, according to industry body CEAMA. Consumer Electronics and Appliances Manufacturers Association (CEAMA) said even before the call to boycott Chinese products, various companies had already started to look for alternative sources due to disruptions of supplies following the coronavirus-induced lockdown in China.

•Central Bank of India’s net loss narrowed in the March quarter to Rs.1,529 crore owing to a substantial decrease in provisioning and higher net interest income (NII). The bank had posted a net loss of Rs. 2,477.41 crore in the same period a year ago. In the December quarter, the bank had made a profit of Rs. 155.32 crore. The bank had set aside provisions of Rs. 2,178.33 crore during the quarter under review, of which provisions for bad loans stood at Rs. 1,583.25 crore.

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

BOARD MEETINGS

Company Name5 Purpose Ex-Date Company Name Purpose Ex-Date
DHAMPURE Audited Results 30-Jun-20 PCJEWELLER Audited Results 30-Jun-20
DISHTV Audited Results 30-Jun-20 RESONANCE Audited Results 30-Jun-20
DRL Results;Quarterly Results 30-Jun-20 RITES Audited Results;Final Dividend 30-Jun-20
FCONSUMER Audited Results 30-Jun-20 SAIL Audited Results 30-Jun-20
ICRA Audited Results;Dividend 30-Jun-20 TGVSL Audited Results;General 30-Jun-20
IDEA Audited Results 30-Jun-20 TITANSEC Audited Results 30-Jun-20
IRCON Audited Results;Final Dividend 30-Jun-20 APLAPOLLO Audited Results 30-Jun-20
MIDHANI Audited Results;Final Dividend 30-Jun-20 BAJAJHCARE Audited Results 30-Jun-20
NBCC Audited Results;Final Dividend 30-Jun-20 BCPL Half Yearly Results 30-Jun-20
NTCIND Audited Results 30-Jun-20 CUPID General;Quarterly Results 30-Jun-20
ONGC Audited Results;Final Dividend 30-Jun-20 DEEPAKFERT Audited Results;Dividend;General 30-Jun-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ABFRL 30-Jun-20 Right Issue of Equity Shares JUSTDIAL 2-Jul-20 Buy Back of Shares
HEXAWARE 30-Jun-20 Interim Dividend – Rs. – 3.00 KARDA 2-Jul-20 Stock  Split From Rs.10/- to Rs.2/-
LAURUSLABS 1-Jul-20 Final Dividend – Rs. – 1.00 MPHASIS 2-Jul-20 Final Dividend – Rs. – 35.00
TATAINVEST 1-Jul-20 Dividend – Rs. – 18.00 RELIANCE 2-Jul-20 Dividend – Rs. – 6.50
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

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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