NIFTY:
The Nifty resumed its upside rally on Friday after taking a pause on Thursday. The index first opened with a gap up of 64 points at 10093.80. Prices have traded higher for few minutes of trading but did not sustain those levels. There was a decline from the early morning high, all the way down to 10040 which was the intraday low. The index then saw a slow a steady upside move of almost 140 points and finally closed at the top of the day near 10142.15 up by 113 points. Banks and Metals rallied.
The first week of June month ended on a positive note with a move of almost 550 points as compared to last weeks closing.
We suggested a trade on going long on Nifty above 10136. Stay long on the trade as this week closed on top of a rally but the last three trading days were very narrow which suggests a sharp move for a day or two.
For an intraday trade keep the Stop loss at 10120 and target at 10250-10300.
BANK NIFTY:
Bank Nifty opened at 20516.40 with a gap up of 137 points. The index first moved down and filled that gap. After that prices have seen a steady rally for the rest of the day and closed higher 21177.40 with a gain of 798 points.
PSU Banks have continued outperforming the Index and closed higher by 6.85%. Within the index, in terms of points, HDFC Bank contributed the highest while RBL Bank the lowest.
A narrow trading range is visible around the resistance of 21600. We should either wait to buy on a dip around the support or sell on rallies near the resistance.
TECHNICAL PICKS
| COMPANY . | CMP | B/S | RATIONALE |
| GRASIM | 627.15 | 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 627.15 with a stop loss of 614 and for the target of 645. |
| PIIND | 1617.90 | 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 1617.90 with a stop loss of 1590 and for the target of 1650. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| IOC | 90 CE | BUY | 4 | CMP | 2.50 | 7 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| ASHOKLEY.Jun 25 | 48.6 | 5.88 | 30.45 | 74296000 | MINDTREE.Jun 25 | 920.65 | -1.84 | 9.28 | 1432000 | |
| UBL.Jun 25 | 1026.35 | 8.26 | 29.73 | 1561000 | HDFCLIFE.Jun 25 | 515.75 | -0.14 | 7.96 | 15715800 | |
| TORNTPOWER.Jun 25 | 339.2 | 4.95 | 27.21 | 2286000 | APOLLOHOSP.Jun 25 | 1363.8 | -0.18 | 7.76 | 902500 | |
| CUMMINSIND.Jun 25 | 385.05 | 1.54 | 26.47 | 1436400 | SUNTV.Jun 25 | 404 | -0.6 | 7.61 | 4702800 | |
| PVR.Jun 25 | 1168.05 | 10.75 | 24.21 | 1688800 | IGL.Jun 25 | 491.7 | -2.5 | 7.2 | 6754000 | |
| Short Covering | Long unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| UJJIVAN.Jun 25 | 186.4 | 4.13 | -9.77 | 3374500 | CADILAHC.Jun 25 | 359.35 | -1.21 | -11.24 | 6043400 | |
| TORNTPHARM.Jun 25 | 2372.45 | 0.13 | -4.82 | 1403500 | LUPIN.Jun 25 | 905 | -0.56 | -7.98 | 7378000 | |
| ADANIPOWER.Jun 25 | 39.05 | 0.77 | -3.16 | 33410000 | MGL.Jun 25 | 1013.75 | -1.18 | -7.81 | 1452000 | |
| TATAPOWER.Jun 25 | 44.05 | 3.28 | -3.03 | 52461000 | SRF.Jun 25 | 3653.7 | -3.9 | -6.59 | 613250 | |
| BHARTIARTL.Jun 25 | 581.65 | 1.35 | -2.89 | 88988676 | TECHM.Jun 25 | 580.15 | -0.28 | -5.39 | 16489200 | |
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Top Delivery Percentage
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| ICICI PRUDENTIAL LIFE IN | 387.55 | 1.28 | 1765480 | 2821337 | 63.42 | Nifty Media | 1388.9 | 5.26 | 84411 | |
| Siemens Ltd | 1150.6 | 3.34 | 1309805 | 370586 | 59.97 | Nifty Metal | 2049.7 | 3.89 | 84411 | |
| Hindustan Unilever Ltd | 2087.6 | -1.56 | 2981896 | 1867894 | 57.21 | Nifty Bank | 21034.5 | 3.16 | 84411 | |
| ADANIPORTS | 341.15 | 0.57 | 2348630 | 2547236 | 55.07 | Nifty Realty | 202 | 2.36 | 84414 | |
| Infosys Limited | 703.55 | -0.59 | 7718943 | 5936764 | 55.05 | Nifty Auto | 6628.75 | 1.8 | 84411 | |
| CONTAINER CORP OF INDIA | 402.6 | 3.13 | 3315528 | 1228887 | 53.79 | Nifty 50 | 10142.15 | 1.13 | 84408 | |
| Indian Oil Corp. Ltd. | 89.4 | 4.07 | 24128677 | 14467543 | 49.42 | Nifty Pharma | 10081.3 | 0.03 | 84414 | |
| HDFC Ltd. | 1766.6 | 0.13 | 6691738 | 3721623 | 48.86 | Nifty IT | 14627.45 | 0 | 84411 | |
| Dabur India Ltd. | 462.85 | 0.06 | 2549236 | 1194467 | 45.39 | Nifty FMCG | 29542 | -0.27 | 84411 | |
| MARICO LIMITED | 326.4 | -2.03 | 2897897 | 1263425 | 44.14 | INDIA VIX | 28.68 | -3.4 | 84411 | |
Upcoming Economic Data
| Domestic International | |
| •INR: Industrial Production (YoY) (Apr) on 12th June, 2020
•INR: CPI (YoY) (May) on 12th June, 2020 |
•USA: JOLTs Job Openings (Apr) on 9th June, 2020
•USA: Core CPI (MoM) (May) on 10th June, 2020 |
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News Updates
| •Vedanta on Saturday posted a net loss of Rs 12,521 crore for the quarter ended March 31 on the exceptional loss of Rs 17,132 crore, primarily due to impairment of assets in oil and gas, copper and iron ore business. The company had posted a net profit of Rs 2,615 crore in the corresponding quarter last year.
•Larsen & Toubro reported a consolidated net profit of Rs 3,430.1 crore in the quarter ended March on Friday, compared with Rs 3,586.48 crore in the same quarter a year ago. Of this, the net profit attributable to the owners of the company came in at Rs 3,197.07 crore, compared with Rs 3,418.24 crore a year ago. The company’s consolidated revenues in the quarter rose to Rs 44,905.76 crore from Rs 43,914.37 crore a year ago. •Silver Lake and its co-investors will invest another Rs 4,546.8 crore in Jio Platforms, the second investment by the private equity giant in Reliance Industries’ digital unit in over a month and the second such deal in less than 24 hours. The aggregate investment by Silver Lake is now Rs 10,202.55 crore for a 2.08 percent stake in Jio Platforms. •Net profit of Divi’s Laboratories rose 35.41% to Rs 391.80 crore in the quarter ended March 2020 as against Rs 289.35 crore during the previous quarter ended March 2019. Sales rose 9.54% to Rs 1376.24 crore in the quarter ended March 2020 as against Rs 1256.43 crore during the previous quarter ended March 2019. For the full year,net profit rose 3.01% to Rs 1372.71 crore in the year ended March 2020 as against Rs 1332.65 crore during the previous year ended March 2019. Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name5 | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ABBOTINDIA | Audited Results;Dividend | 8-Jun-20 | PVR | Audited Results;General | 8-Jun-20 |
| CHALET | Results;Dividend on Preference Shares | 8-Jun-20 | REGENCY | General;Voluntary Delisting of Shares | 8-Jun-20 |
| COROENGG | Audited Results | 8-Jun-20 | ROSELABS | Audited Results;Quarterly Results | 8-Jun-20 |
| GSPL | Audited Results;Dividend | 8-Jun-20 | SALAUTO | Audited Results;Final Dividend | 8-Jun-20 |
| HKG | General | 8-Jun-20 | SCTL | General | 8-Jun-20 |
| INOXLEISUR | Audited Results | 8-Jun-20 | SUMERUIND | Audited Results | 8-Jun-20 |
| INTEGRAEN | Audited Results | 8-Jun-20 | THEMISMED | Audited Results;Final Dividend | 8-Jun-20 |
| MADHAVIPL | Bonus issue;Increase in Authorised Capital | 8-Jun-20 | TILAK | General | 8-Jun-20 |
| NAVIGANT | Audited Results;Half Yearly Results | 8-Jun-20 | TITAN | Audited Results;Dividend | 8-Jun-20 |
| NITTAGELA | Audited Results | 8-Jun-20 | WORL | Bonus issue | 8-Jun-20 |
Corporate Action
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| GESHIP | 9-Jun-20 | Interim Dividend – Rs. – 2.70 | PAPERPROD | 11-Jun-20 | Final Dividend – Rs. – 3.00 |
| SBISENSEX | 9-Jun-20 | Dividend On Mutual Fund | WELENT | 11-Jun-20 | Final Dividend – Rs. – 2.00 |
| TANLA | 9-Jun-20 | Buy Back of Shares | KANSAINER | 12-Jun-20 | Dividend – Rs. – 3.15 |
| IRBINVIT | 10-Jun-20 | Income Distribution (InvIT) | MAXINDIA | 12-Jun-20 | Amalgamation |
| ESABINDIA | 11-Jun-20 | Interim Dividend – Rs. – 70.00 | MAXINDIA | 12-Jun-20 | Spin Off |
| NESTLEIND | 11-Jun-20 | Final Dividend – Rs. – 61.00 | 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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