Markets today were actually nothing. There was a trading range that was developed early in the morning in the first 15 minutes. The NIFTY remained inside this early 15 minute range, throughout the day. This is remarkable, a rather rare occurrence. The NIFTY did push above the height of the first 15 minutes, twice but immediately retreated. The range was approximately 9180 on the downside and 9230 on the upside. This was the actual range within which the NIFTY was trading, although it did move to 9250 and also touched 9150 early in the day.
Moving inside a very narrow range gives us a sense that the markets are confused and undecided on their next course of action. Now, sooner or later, markets will decide to move in any one direction- up or down. We would recommend observing the initial 15 minutes or 30 minutes of trading tomorrow. A breakout above the high of this timeframe would be a buying opportunity, and a break down below the low would be a selling opportunity.
Buy above first 15 minutes high or sell below first 15 minutes low.
|ICICIBANK||336.75||BUY||The intermediate and short-term trends are sideways in ICICIBANK. Prices are now consolidating inside a range and trading at support. Should buy above 341 with a stop loss of 334 and a target around 355.|
|INDIGO||914.55||SELL||The immediate trend of the stock is weak . The stock can be sold at CMP with a stop loss of 940 and for the target of 866.|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|RELIANCE||1500 CE||BUY||80||CMP||60||125||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|ESCORTS.May 28||747.6||4.2||30.2||2328700||HINDUNILVR.May 28||1990||-1.03||82.16||26779200|
|M&M.May 28||401||3.32||11.69||15660000||ASIANPAINT.May 28||1603||-0.7||22.11||6009000|
|JINDALSTEL.May 28||91.75||2||10.84||14725000||NIFTY.May 28||9210.4||-0.76||17.37||9179100|
|INFRATEL.May 28||172.4||6.68||8.13||9232000||TATACHEM.May 28||283.6||-1.78||17.23||1592100|
|TATACONSUM.May 28||344||2.38||8.11||9428400||UBL.May 28||874.55||-2.51||16.65||863100|
|Short Covering||Long unwinding|
|CANBK.May 28||81.7||0.31||-4.18||7563400||ACC.May 28||1148.65||-2.43||-9.23||1554400|
|APOLLOTYRE.May 28||89.4||2.58||-1.99||5616000||EQUITAS.May 28||50.45||-0.88||-8.14||6634600|
|MUTHOOTFIN.May 28||822||0.63||-1.44||1545000||IDEA.May 28||4.15||-3.49||-4.78||445018000|
|AXISBANK.May 28||399.05||1.99||-0.59||50817600||NIITTECH.May 28||1355||-3.27||-4.69||602250|
|CENTURYTEX.May 28||269.2||0.06||-0.4||2517000||BANKNIFTY.May 28||19544.95||-0.65||-4.03||1416780|
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Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Page Industries Limited||17019.4||-0.41||23788||28520||64.36||Nifty Media||1097.9||0.04||90630|
|TATA CONSUMER PRODUCTS||341.3||1.71||3605559||2265685||62.2||Nifty Metal||1695.55||-0.14||90630|
|GMR Infrastructure Limit||17.25||1.47||12136082||7683279||61.77||Nifty Auto||5519||-0.6||90630|
|CUMMINS INDIA LIMITED||358.25||-3.14||1013292||1618180||55.55||Nifty Energy||12829.4||-0.64||90630|
|Infosys Limited||664.95||-0.14||4779550||4131440||52.07||Nifty IT||13292.7||-0.76||90630|
|ITC Ltd.||161||-1.77||24249898||33371534||50.88||Nifty 50||9199.05||-0.78||90690|
|HCL Technologies Ltd.||511.75||-1.42||19998942||3515933||50.8||Nifty Pharma||9148.1||-0.86||90630|
|TECH MAHINDRA LIMITED||516.35||1.87||6799899||1844539||48.78||Nifty Bank||19491.8||-1.03||90630|
|Exide Industries Ltd||147.05||-0.24||1181644||1566705||47.48||Nifty FMCG||26254.55||-1.41||90630|
|Tata Power Co. Ltd.||29||0||13470623||14710296||46.19||INDIA VIX||39.93||-3.2||109077|
Upcoming Economic Data
|•INR: FX Reserves, USD on 8th May, 2020
•INR: Bank Loan Growth on 8th May, 2020
|•USA: Nonfarm Payrolls (Apr) on 8th May, 2020
•USA: Unemployment Rate (Apr) on 8th May, 2020
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|•RBL Bank Ltd. reported a smaller profit for quarter ended March as the private lender increased provisions for bad loans in a virus-struck economy. Net profit fell 54 percent to Rs 114 crore in the fourth quarter of 2019-20 compared to a profit of Rs 247 crore in the same quarter last year. A consensus estimate of analysts tracked by Bloomberg had pegged net profit at Rs 87 crore. The bank’s net interest income, or core income, rose 38 percent to Rs 1,021 crore compared to Rs 739 crore in the year-ago period.
•State Bank of India (SBI) has reduced lending rates by 15 bps across all tenors. The one-year lending rate now stands reduced to 7.25 percent from 7.40 percent, effective May 10. This is the twelfth consecutive reduction in bank’s MCLR, the lender said. Consequently, equated monthly instalments (EMI) on eligible home loan accounts (linked to MCLR) will get cheaper by approx. Rs 255.00 for a 30-year loan of Rs 25 lakh.
•Tata Consumer Products (TCPL) on Thursday said it has partnered with food delivery platforms like Domino’s Pizza and Zomato to strengthen its direct distribution model and ensure steady supply of its essential products. “Through these partnerships, we intend to safeguard people’s health by giving them alternate channels to buy our food and beverage offerings,” TCPL Managing Director and CEO Sunil D’Souza said in a statement.
Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint.
|Company Name5||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|ADANIGAS||Audited Results;Quarterly Results||8-May-20||RELCAPITAL||Audited Results;General||8-May-20|
|KARDA||General;Stock Split||8-May-20||RPOWER||Audited Results||8-May-20|
|OFSS||Interim Dividend||8-May-20||SBICARD||Audited Results;Interim Dividend||8-May-20|
|PGHH||Quarterly Results||8-May-20||SHREECEM||Audited Results||8-May-20|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|NIITTECH||14-May-20||Interim Dividend – Rs. – 11.00||DICIND||10-Jun-20||Final Dividend – Rs. – 4.50|
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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