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DAILY NEWS LETTER

Date: 04.06.2019

Nifty Short Term Trend

The Nifty50 after opening higher extended gains gradually as

the day progressed and ended at record closing high on June 3

despite weak Q4 GDP data and global trade tensions. The hope

of rate cut and liquidity measures from RBI, strong rally in auto

shares despite weak sales in May, fall in oil prices and US bond

yields, and stronger rupee lifted market sentiment. The index

managed to give the breakout from its consolidation band of

11,800 to 12,041 after five trading sessions and closed above its

psychological 12,000 level for the first time to form strong

bullish candle on daily charts. Meanwhile, as momentum is

favouring the bulls, short term traders can remain bullish on

Nifty with a stop below 11,920 and look for a modest target of

12,200. Nifty50 appears to have resumed its upswing after a

brief consolidation for a couple of sessions as it went on to hit

life-time highs with a strong bullish candle above its

psychological hurdle of 12,000. Now Nifty index has to hold

above 12,000 to extend its gains towards 12,150 and then new

life high territory of 12,250 while on the downside support is

seen at 12,000 then 11,880.

Bank Nifty managed to recover from lower levels of 31,300 and

gradually extended its gains towards 31,650. The index formed

an Inside Bar Candle on the daily scale but traded in a broader

range of 400 points most part of the session. Now Bank Nifty

has to hold above 31,313 to witness an up move towards

31,780 then 32,000 while major support exists at 31,150 then

31,000.

Levels to watch

R1 R2 S1 S2 Outlook for the Day Short term Outlook

NIFTY 12150 12250 12000 11880 Sideways Positive

BANK NIFTY 31780 32000 31150 31000 Sideways Positive

USD/INR 69.48 69.71 68.85 68.61 Sideways Positive

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Financial & Economic Wrap Up

Infrastructure major Larsen and Toubro (L&T) picked up 7.11 lakh shares of IT firm Mindtree between May 27-30 for about Rs 70 crore, according to regulatory data. The development assumes significance as L&T has been steadily increasing its holding in the Bengaluru-based tech firm where it acquired around 20 per cent stake of V G Siddhartha and Cafe Coffee Day last month.

GSK Consumers Healthcare Ltd said on June 2 that its shareholders approved its proposed merger with FMCG major HUL. The company has received 99.99 percent votes in favour of the scheme of amalgamation among the company and Hindustan Unilever Ltd (HUL) in the National Company Law Tribunal-convened meeting of the equity shareholders on June 1, 2019. "The proposed resolution approving the Scheme was passed by the requisite majority of the equity shareholders of the Company".

State-owned Coal India Ltd (CIL) produced 46.59 million tonnes of coal in May, registering a decline of 1.1 percent from the year-ago period, as per a regulatory filing. CIL had produced 47.12 million tonnes of coal in the same month last year, it said in a BSE filing on June 2. Coal offtake during May 2019 fell about 1.4 percent to 52.09 million tonnes as compared to 52.81 million tonnes in the year-ago period.

With incipient regulatory changes in China on Indian drug imports, Dr Reddy's Laboratories has identified about 70 products for the country to be launched in a few years and is also planning to build a new plant very close to the existing one. Dr Reddy's Chief Operations Officer, Erez Israeliin a recent earnings call said the drug-maker is in the process of seeking necessary approvals from Chinese authorities for selling drugs including in oncology area there and is upgrading professional teams for the growth.

Tata Steel on June 1 announced that it has completed the acquisition of debt-ridden Bhushan Energy Ltd. The announcement came after the National Company Law Tribunal (NCLT) approved the resolution plan of Tata Steel to acquire Bhushan Energy for around Rs 800 crore. We wish to inform you that Tata Steel BSL Ltd has successfully completed the acquisition of Bhushan Energy Limited (BEL) in accordance with the Approved Resolution Plan under the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code.

Indices Performance

Index LTP Previous Close % Change

S&P BSE Sensex 40268 39714 1.39

Nifty 50 12089 11923 1.39

Nifty Midcap 50 5005 4963 0.85

Nifty 500 9923 9805 1.20

Bank Nifty 31654 31375 0.89

Institutional Flows (Cash Segment)

Description (Rs in Cr) BUY SELL NET

FII Activity 7752.61 4683.73 3068.88

DII Activity 2587.64 3050.33 -462.69

FII Derivative Statistics

BUY SELL

No. of Contracts

Amount (INR. Cr.)

No. of Contracts

Amount (INR. Cr.)

Index Futures 69547 5794.90 44894 3499.08

Index Options 2378559 171347.99 2364608 170214.68

Stock Futures 219844 13336.28 198176 11977.48

Stock Options 71790 4394.19 72177 4437.43 Top OI Gainers

Scrip LTP % CHANGE

IN PRICE OI % Change

in OI

APOLLOHOSP 1350.8 9.55 3963 77.47

REPCOHOME 402.45 -0.43 614 35.54

JUSTDIAL 739.25 3.43 3638 33.41

IGL 340.55 0.75 1649 20.98

HEROMOTOCO 2854.4 6.17 15418 15.58 Top 5 OI Losers

Scrip LTP % CHANGE

IN PRICE OI % Change

in OI

BERGEPAINT 329.35 0.14 1751 -12.41

COALINDIA 262.15 2.99 15085 -8.54

BHARATFORG 466.6 -0.27 7560 -3.66

MRPL 63.65 -0.08 567 -3.57

GODREJCP 707.9 2.67 9010 -3.46 Volume Spurt: Cash Segment

Scrip LTP Quantity

Change (%)** Price

Change (%)

Info Edge (India) 2310.75 118.7 12.54

Apollo Hospitals 1357.3 361.86 9.57

Page Industries 21102 21.71 6.81

HERITAGE FOODS 391.5 230.32 -5.04

SINTEX PLASTICS TECH 14.15 40.28 -6.29 **Change from average Quantity, rest other % are over previous day’s close unless otherwise mentioned

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Put Call Ratios

OI Wise Volume wise

TCS 1.76 BEARISH JETAIRWAYS 0.96 BEARISH

COLPAL 1.46 BEARISH MGL 0.90 BEARISH

INFY 1.39 BEARISH RELINFRA 0.85 BEARISH

BERGEPAINT 1.38 BEARISH TCS 0.83 BEARISH

HDFC 1.02 BEARISH SBIN 0.83 BEARISH

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Nifty OI – Call Put Analysis

F&O Wrap-up

• Nifty June series future closed at 12113.90, discount of 25.35 Point with respect to nifty spot which closed at 12088.55

• The Nifty OI wise Put-Call ratio stood at 1.48 and volume wise put-call ratio stood at 1.27

• India VIX has decreased by 0.85 percent and closed at 15.9300

• The open interest in Nifty Futures increased from 13,24,697 to 14,93,024

Quarterly Results Today (Q4)

ADVANCE LIFESTYLES LTD.

Celestial Biolabs Limited

Econo Trade (India) Ltd

Fedders Electric and Engineering Ltd

GCCL CONSTRUCTION & REALITIES LTD.

GOVIND RUBBER LTD.

GUJARAT CREDIT CORPORATION LTD.

JMT AUTO LTD.

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