Markets again opened with a large gap up. An early morning sell-off saw a low of 10,035 and then the market went all the way up to 10,176, a gain of over 140 points. However today was different; At higher levels there was significant selling and the Nifty fell more than 100 points intraday to close at 10,061, up 82 points from yesterday. The markets inability to hold higher levels, does suggest the possibility of a trading range, consolidation or even a dip.
The trading range has the upper boundary of 10,100 and lower boundary at 9568. If 10,100 are taken out by tomorrow and prices go up, we will still be cautious and would like to see follow-through before we take a long position.
Tomorrow, the market is opening up for a trade that could be on both sides- long or short.
Buy above 10,176 and sell below 10,035. If you are long, your stop should be below 10,035 and if you are short, your stop is above 10,176.
Bank Nifty opened at 20966.60 with a gap up of 354 points. Prices have first seen a rally and recorded its intraday high of 21619.55 and then saw sharp fall in last hour of trading. The index finally closed at 20918.50 with a gain of 306 points.
PSU Banks have outperformed today and closed higher by more than 5%. Within the index, in terms of points, HDFC Bank contributed highest while Indusind Bank contributed lowest.
Bank Nifty is closing higher from last 7 trading days. We have seen a move of more than 3500 points. This is an expansion and after expansion we should be ready for a contraction.
|BEL||73.60||BUY||The stock has given the breakout with volume on the intraday as well as on the daily chart. The stock can be bought Above 74 with a stop loss of 72.40 and for the target of 76.80.|
|NIIT TECH||1444.15||SELL||The intermediate and short term trends are sideways in NIIT TECH. The stock has seen a sharp rally and then started trading in a range. The stock can be sold below 1437 with a stop above 1467 and for the target of 1377.|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|COAL INDIA||140 PE||BUY||5.65||CMP||4.20||7.50||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|GODREJPROP.Jun 25||826||8.43||46.04||527800||MFSL.Jun 25||450||-3.03||44.04||3329300|
|INDIGO.Jun 25||1018||7.63||22.25||3988500||TATAPOWER.Jun 25||42.05||-0.24||17.97||62262000|
|RBLBANK.Jun 25||129.45||1.93||21.91||22353000||TORNTPHARM.Jun 25||2319.95||-2.27||14.95||1587500|
|HDFCLIFE.Jun 25||504||1.08||20.55||16370100||UPL.Jun 25||419||-0.75||12.66||9427500|
|BAJFINANCE.Jun 25||2401.85||2.66||18.72||7540500||UBL.Jun 25||941||-2.52||12.04||1244600|
|Short Covering||Long unwinding|
|IDEA.Jun 25||8.1||3.85||-22.79||294784000||BALKRISIND.Jun 25||1126.55||-1.39||-4.36||1244800|
|EQUITAS.Jun 25||48.35||0.73||-3.5||10525200||UJJIVAN.Jun 25||187||-1.4||-3.76||3699200|
|BANKBARODA.Jun 25||43.05||2.01||-2.37||58995000||NCC.Jun 25||26.25||-3.85||-3.46||29880000|
|BANKNIFTY.Jun 25||20873.9||1.99||-2.06||1546660||MINDTREE.Jun 25||909.45||-1.38||-3.3||1336800|
|SRTRANSFIN.Jun 25||613.95||4.52||-1.96||3547200||CENTURYTEX.Jun 25||308.1||-1.44||-2.2||2767800|
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Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Hindustan Unilever Ltd||2120.5||0.62||4895141||1810831||55.4||Nifty Bank||20940.7||2||79998|
|GMR Infrastructure Limit||19.7||-0.51||14452506||6505169||55.28||Nifty 50||10061.55||0.83||79995|
|TATA CONSUMER PRODUCTS||366.65||-0.22||4027688||1424637||53.99||Nifty FMCG||29527||0.57||79998|
|NTPC Limited||94.7||-2.12||23202602||9805420||53.96||Nifty Auto||6498.65||0.42||79998|
|SBI LIFE INSURANCE COMPA||807.1||3.54||2163349||721755||51.97||Nifty Infrastructure||2922.95||0.36||79998|
|Petronet LNG Limited||252.95||3.73||4147787||1263762||51.78||Nifty Pharma||9864.05||0.31||79998|
|HDFC LIFE INSURANCE COMP||501.35||0.33||13733176||2934072||49.63||Nifty Energy||13519.55||0.29||79998|
|Bharti Airtel Limited||551.65||-1.16||29235064||15685185||49.06||Nifty Metal||1952.7||-0.17||79998|
|HDFC Ltd.||1835.65||1.22||9490542||3920926||47.13||INDIA VIX||30.04||-0.26||79995|
|Power Grid Corporation o||164.55||-0.3||7769285||11138331||45.39||Nifty IT||14361.7||-0.42||79998|
Upcoming Economic Data
|•INR: Bank Loan Growth on 5th June, 2020
•INR: Deposit Growth on 5th June, 2020
|•USA: Crude Oil Inventories on 3rd June, 2020
•USA: Unemployment Rate (May) on 5th June, 2020
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|•Uday Kotak has been appointed as the new President of the Confederation of Indian Industry (CII) for 2020-21. Uday, who was also the President-Designate of CII for the last two years, will replace Vikram Kirloskar, Chairman and Managing Director of Kirloskar Systems Ltd, and Vice Chairman of Toyota Kirloskar Motor.
•Mahindra & Mahindra (M&M) on Wednesday said it estimates production loss of 87,000 vehicles and 30,000 tractors in first quarter of current fiscal (April-June period) due to suspension of manufacturing operations amid coronavirus-led lockdown. The estimated loss for March was around 23,400 vehicles and 14,700 tractors, M&M said in an exchange filing.
•State-owned GAIL and Energy Efficiency Services Ltd (EESL) signed a memorandum of understanding on Wednesday for cooperation in development of trigeneration projects in India. Trigeneration or Combined Cooling, Heat and Power (CCHP) typically involves natural gas-fired generators to produce electricity. The waste heat from flue gas is recovered to produce hot water or steam which in turn is used for heating purposes and also in absorption chillers for cooling.
•IndiGo, India’s biggest airline, said it will keep adding new aircraft to its fleet even as it can’t give any firm guidance on future capacity growth because of the coronavirus pandemic, which destroyed demand for air travel in one of the world’s fastest-growing aviation markets.
Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint
|Company Name5||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|CCHHL||General||4-Jun-20||NIITLTD||Audited Results;Final Dividend||4-Jun-20|
|CERA||General||4-Jun-20||PIIND||Audited Results;Final Dividend||4-Jun-20|
|CHEMFABALKA||Audited Results;ESOP;Final Dividend||4-Jun-20||PNBGILTS||Audited Results;Dividend||4-Jun-20|
|COSMOFILMS||Audited Results||4-Jun-20||SAFARIND||Audited Results;Final Dividend||4-Jun-20|
|DLF||Audited Results;Final Dividend||4-Jun-20||SRF||Audited Results;Final Dividend||4-Jun-20|
|FILATEX||Audited Results||4-Jun-20||STOVACQ||Quarterly Results||4-Jun-20|
|IGARASHI||Audited Results;Dividend||4-Jun-20||TDPOWERSYS||Audited Results;Dividend||4-Jun-20|
|IL&FSTRANS||Audited Results||4-Jun-20||TFCILTD||Audited Results;Dividend||4-Jun-20|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|DICIND||4-Jun-20||Final Dividend – Rs. – 4.50||NESTLEIND||11-Jun-20||Final Dividend – Rs. – 61.00|
|KKCL||4-Jun-20||Interim Dividend – Rs. – 6.00||PAPERPROD||11-Jun-20||Final Dividend – Rs. – 3.00|
|GESHIP||9-Jun-20||Interim Dividend – Rs. – 2.70||KANSAINER||12-Jun-20||Dividend – Rs. – 3.1500|
|TANLA||9-Jun-20||Buy Back of Shares||MAXINDIA||12-Jun-20||Amalgamation|
|IRBINVIT||10-Jun-20||Income Distribution (InvIT)||MAXINDIA||12-Jun-20||Spin Off|
|ESABINDIA||11-Jun-20||Interim Dividend – Rs. – 70.00||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
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