outlookNIFTY:

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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