The Nifty today opened with a huge gap up of 214 points on the back of positive global cues. However index did not sustain these gains for the whole day. Prices have traded sideways till afternoon. A sharp decline came in the post afternoon session, prices vanishes all its gain and finally closed at 10167.45 up by 25.30 points or 0.25% compared to Fridays closing.
Amongst the sectoral indices IT was the top gainer today while Media and Pharma were the top losers. Energy stocks have seen a sharp rally today as GAIL and BPCL both stocks have closed higher by more than 7%.
Today was a profit taking opportunity when the index opened with a huge gap up but did not see a follow through afterwards. If you are still long on your positions hold them with the same stop and target.
A new buying opportunity will come in when the index moves above yesterdays high at around 10330. Targets for this trade will be around 10610 and stop around 10200.
The long term trend is down in Nifty; while the intermediate trend is up, We should be careful of taking long positions as markets are seen to be flattening and we can see a consolidation or decline.
Bank Nifty opened at 21636.10 with a gap up of 459 points. The index has seen an intraday decline for the whole day and finally closed at 21223.75 with a gain of just 46 points. Private banks have outperformed yesterday and closed higher by 1.28%. Within the index, in terms of points, Axis Bank contributed highest while HDFC Bank the lowest. Index is roaming around its strong resistance level of 21000 from the last four trading days. A narrow trading is also visible with the support being 20300 and resistance at 21600. We should wait for a breakout from this range before a trade.
For intraday, we should buy on dips or sell on rallies.
|HEROMOTOCO||2384.30||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 2384.30 with a stop loss of 2355 and for the target of 2439.|
|HAVELLS||546.40||SELL||The immediate trend of the stock is weak . The stock can be sold between 550-551 with a stop loss of 563 and for the target of 525.|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|JSWSTEEL||195 PE||BUY||11||CMP||8||16.50||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|IBULHSGFIN.Jun 25||150.7||16.82||30.53||18096000||EXIDEIND.Jun 25||159||-8.41||44.99||9868700|
|JUSTDIAL.Jun 25||435.2||6.56||27.45||2417800||SAIL.Jun 25||32.75||-2.24||19.74||45325900|
|CHOLAFIN.Jun 25||147.05||1.03||25.7||7080000||MOTHERSUMI.Jun 25||99.2||-4.89||14.97||25300000|
|TITAN.Jun 25||1035.95||4.26||21.61||7963500||IGL.Jun 25||473.4||-3.39||13.92||7449750|
|BHARATFORG.Jun 25||370||5.73||17.53||6354400||PVR.Jun 25||1117.05||-4.81||12.08||1706800|
|Short Covering||Long unwinding|
|NCC.Jun 25||31.15||1.8||-24.42||25461000||ZEEL.Jun 25||196.95||-4.76||-5.63||28604200|
|NATIONALUM.Jun 25||32.9||0.15||-3.91||30443400||CANBK.Jun 25||100.2||-4.25||-2.67||11944400|
|BHEL.Jun 25||27.95||0.18||-3.84||69056000||BATAINDIA.Jun 25||1405||-0.83||-2.31||1253450|
|IDEA.Jun 25||12||14.29||-3.81||3.19E+08||JUBLFOOD.Jun 25||1671.8||-0.8||-2.14||2815000|
|SRTRANSFIN.Jun 25||630.9||2.61||-3.06||3058200||SIEMENS.Jun 25||1130.5||-2.01||-1.81||2212100|
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Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Info Edge (India) Limite||2662.95||6.51||638891||257687||53.63||INDIA VIX||29.65||3.37||78528|
|HDFC LIFE INSURANCE COMP||522.05||1.12||8430264||1903149||53.48||Nifty IT||14894.6||1.83||78528|
|Hindustan Unilever Ltd||2111.7||1.15||4298517||1557313||52.23||Nifty Bank||21187.35||0.73||78528|
|TATA CONSUMER PRODUCTS||379.45||-0.08||1565959||1539527||49.02||Nifty Realty||202.65||0.32||78528|
|NTPC Limited||98.55||0.61||14173729||5444090||46.35||Nifty 50||10167.45||0.25||78528|
|MARICO LIMITED||332||1.72||3204273||1341858||46.3||Nifty FMCG||29502.15||-0.13||78528|
|SBI LIFE INSURANCE COMPA||779.3||-2.18||1371775||541521||45.13||Nifty Metal||2044.85||-0.24||78528|
|HCL Technologies Ltd.||578.25||0.4||3772143||1763915||44.14||Nifty Auto||6610.55||-0.27||78528|
|Hindustan Petroleum Corp||216.45||5.79||10981195||4045462||43.6||Nifty Pharma||9939.1||-1.41||78528|
|INDRAPRASTHA GAS LIMITED||472.9||-3.24||5359899||1925962||41.87||Nifty Media||1365.8||-1.66||78528|
Upcoming Economic Data
|•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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|•Net loss of PVR reported to Rs 75.62 crore in the quarter ended March 2020 as against net profit of Rs 47.73 crore during the previous quarter ended March 2019. Sales declined 24.81% to Rs 623.51 crore in the quarter ended March 2020 as against Rs 829.28 crore during the previous quarter ended March 2019.For the full year,net profit declined 84.13% to Rs 30.16 crore in the year ended March 2020 as against Rs 190.09 crore during the previous year ended March 2019. Sales rose 8.06% to Rs 3284.36 crore in the year ended March 2020 as against Rs 3039.35 crore during the previous year ended March 2019.
•Marksans Pharma on Monday said it is recalling 11,279 bottles of diabetes drug Metformin extended release tablets due to presence of a cancer causing contaminant. The company has issued voluntary recall of one batch of Metformin extended release tablets (USP 500 mg) due to detection of NDMA (N-nitrosodimethylamine), Marksans Pharma said in a regulatory filing.
•The Enforcement Directorate (ED) searched on Monday five places linked to Cox & Kings (CKL) in connection with the tour operator’s financial dealings with Rana Kapoor, the co-founder of private lender YES Bank under arrest in Mumbai for alleged money laundering. An ED official said the government agency is searching the offices and the residences of the travel firm’s promoter of and other executives.
Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint
|Company Name5||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|AMARDEE||Audited Results||9-Jun-20||ISHANCH||Audited Results||9-Jun-20|
|AMRAAGRI||Audited Results||9-Jun-20||KAYCEEI||Audited Results;Dividend||9-Jun-20|
|BOMDYEING||Audited Results;Quarterly Results||9-Jun-20||KIRLFER||Audited Results||9-Jun-20|
|CENTENKA||Dividend;Quarterly Results||9-Jun-20||KRBL||Audited Results||9-Jun-20|
|CUPIDTR||Audited Results||9-Jun-20||MRPL||Audited Results;Final Dividend||9-Jun-20|
|ECLERX||Audited Results;Final Dividend||9-Jun-20||NATIONSTD||Audited Results;Quarterly Results||9-Jun-20|
|GPPL||Audited Results;Final Dividend;General||9-Jun-20||PRANAVSP||Audited Results||9-Jun-20|
|GRAPHITE||Audited Results;Final Dividend||9-Jun-20||PSPPROJECT||Audited Results;General||9-Jun-20|
|HEROMOTOCO||Audited Results;Final Dividend||9-Jun-20||SEL||Audited Results;Quarterly Results||9-Jun-20|
|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|
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