outlookNIFTY:

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:

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.

TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
       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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DERIVATIVE PICKS

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
Sector Price Price% OI% OI Sector Price Price% OI% OI
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
Sectors Price Change % Quantity
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

   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

•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

BOARD MEETINGS

Company Name5 Purpose Ex-Date Company Name Purpose Ex-Date
AMARDEE Audited Results 9-Jun-20 ISHANCH Audited Results 9-Jun-20
AML General 9-Jun-20 JSGLEASING 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

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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