outlookNIFTY:

The Nifty opened almost lower from Thursdays close and then throughout the day moved in a range between 11150 and 11230 which was very narrow. After remaining inside this range for the entire day. The Nifty closed within this range as well at 11214 up 14 points. We had defined the following trades: Buy above 11237 or sell below 11127. The range on Friday for very narrow and failed to break either of the two levels.

Markets go through cycles of expansion and contraction. We are now in a very strong contraction for the last two days. We can expect an expansion sometime this week.

The Nifty is facing repeated resistance at 11300. It is possible that markets might take a breather and either go into a large decline or go through a small dip. This means the resistance of 11300 may continue to hold for sometime. In this Era of the pandemic, with the possibility that most world economic growth may come out in the negative, the stock market continues to surprise. The US markets are barely 2% below lifetime new highs.

Our trade for today remains the same: Buy above 11237 or sell below 11127.

BANK NIFTY:

Bank Nifty opened at 21620.25 with a minor gap down. The index has seen a slow and steady up move for the whole day and closed at 21754 with a gain of about 90 points. PSU and Private banks both have performed well today and closed higher by almost 1%. Within the index, in terms of points, Indusind Bank contributed highest while ICICI Bank the lowest. Bank Nifty outperformed the Nifty on Friday, although the index traded in a narrow range of just 336 points. Last three days have been narrow and choppy, a break from this will result in a move. We should buy on either breakouts of the range of 21350-21950.

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TECHNICAL PICKS

COMPANY  . B/S RATIONALE
 APOLLOHOSP 1743.20 BUY The stock has been trading in a range and has now given a  breakout upwards. The stock can be bought at CMP with a stop at 1730 and for the target of  1765
FEDERALBANK  54.65 BUY The stock has been trading in a range and has now given a  breakout upwards. The stock can be bought at CMP with a stop at 53.35 and for the target of  56.30

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
IGL 380 CE BUY 20.40 CMP 17 29.50 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
TORNTPOWER.Aug 27 338.85 3.09 110.6 2862000 TITAN.Aug 27 1086 -2.66 18.77 7953000
RBLBANK.Aug 27 191 9.58 47.82 26111800 MGL.Aug 27 966.2 -1.75 18.21 1117800
CENTURYTEX.Aug 27 320.8 6.19 42.98 3847200 BATAINDIA.Aug 27 1265 -0.19 16.78 2622400
IDEA.Aug 27 8.85 6.63 37.44 421960000 PAGEIND.Aug 27 19085 -1.66 12.11 111360
TATACONSUM.Aug 27 518.45 6.73 24.48 17150400 JUBLFOOD.Aug 27 1860 -0.83 10.12 2356500
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
MANAPPURAM.Aug 27 162.65 4.63 -10.01 19842000 NIITTECH.Aug 27 1997 -1.65 -6.87 447375
CANBK.Aug 27 100.6 0.05 -9.6 13565000 RECLTD.Aug 27 106.2 -0.98 -2.01 20520000
CADILAHC.Aug 27 392.55 0.43 -8.02 9163000 PFC.Aug 27 85.6 -1.38 -1.71 53915200
PIDILITIND.Aug 27 1379 3.04 -4.99 3781000 DRREDDY.Aug 27 4593.4 -0.27 -1.22 3166750
GAIL.Aug 27 97.1 1.2 -3.89 27456100 TCS.Aug 27 2304 -0.52 -0.34 10087200

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Petronet Lng Limited 244.5 -0.69 2407140 1380533 55.16 Nifty Auto 7554.45 0.75 125484
Bandhan Bank Limited 307.5 2.48 20835433 21322134 54.51 Nifty Fmcg 31490.6 0.65 125484
Pidilite Industries Ltd 1378.3 3.48 3871685 1260926 53.37 Nifty Energy 15498.05 0.58 125484
Marico Limited 370 0.15 2555271 1211451 50.11 Nifty Bank 21754 0.51 125484
Nestleind 16788.6 0.67 88450 52630 49.7 Nifty 50 11214.05 0.12 125484
Sbi Life Insurance Compa 868.6 -0.78 827168 450786 49.67 Nifty Media 1336 -0.05 125484
Power Grid Corporation o 175.95 0.03 4515135 2336606 48.5 Nifty Realty 203.95 -0.32 125484
Bharti Airtel Limited 560.8 0.99 7210904 4678267 44.87 Nifty Pharma 11333 -0.62 125484
Ntpc Limited 85.8 -0.41 10340142 5371524 43.99 Nifty it 18004.15 -1.01 125484
Hdfc Ltd. 1777.7 -0.34 5129995 2640217 43.97 India Vix 21.75 -6.03 125484

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR:  Industrial Production (YoY) (Jun) on 11th August, 2020

•INR: CPI (YoY) (Jul) on 12th August, 2020

•USA: PPI (MoM) (Jul)  on 11th August, 2020

•USA: Core CPI (MoM) (Jul) on 12th August, 2020

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NEWS UPDATES

•Cipla on Friday reported a 21 per cent rise in consolidated profit after tax at Rs 578 crore in the April-June quarter as against Rs 478 crore in the corresponding quarter of last fiscal. Total revenue from operations saw a 9 per cent on-year growth at Rs 4,346 crore as against Rs 3,989 crore. Cipla said that its India operations saw an on-year growth of 16 per cent in the quarter under review. The US business saw a 14 per cent QoQ growth.

•Tata Power Company Ltd (TPCL) targets to drastically cut its gross debt, launching infrastructure investment trust (InvIT) in the second half of this financial year. According to the estimates of experts, the company wants to reduce the debt by at least Rs 18,000-20,000 crore on its books through the process. N Chandrasekaran, chairman, Tata group said at the recent annual general meeting (AGM) that the company will reduce its gross debt to Rs 25,000 crore, which is at Rs 48,376 crore right now.

•Adani Transmission on Friday recorded a 66.52 per cent rise in consolidated net profit at Rs 355.40 crore for April-June quarter of FY21 as against a profit of Rs 213.42 crore in the corresponding period of last fiscal. Total income in the given quarter was Rs 2,542.84 crore as opposed to Rs 2,889.74 crore in the same period last year

•Insurers have seen more than 90,600 Covid-related claims worth Rs 1,463 crore, of which almost 60,000 claims amounting to Rs 563.81 crore have been settled. Maharashtra, which has recorded the maximum number of cases in the country, has the maximum claims coming in, followed by Tamil Nadu, Delhi, Gujarat, and Karnataka.

Source: Economic Times,  Moneycontrol  ,Business Today,Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ASTRAZEN Interim Dividend;Quarterly Results 10-Aug-20 LKPSEC Quarterly Results 10-Aug-20
BANKBARODA Quarterly Results 10-Aug-20 NDTV Quarterly Results 10-Aug-20
CAMLINFINE Quarterly Results 10-Aug-20 ONMOBILE* Quarterly Results 10-Aug-20
COCHINSHIP Quarterly Results 10-Aug-20 POWERGRID Quarterly Results 10-Aug-20
COFFEEDAY Quarterly Results 10-Aug-20 SAKSOFT Quarterly Results 10-Aug-20
DEEPAKSP Quarterly Results 10-Aug-20 SONATSOFTW Quarterly Results 10-Aug-20
DIAMINESQ Quarterly Results 10-Aug-20 TGVSL General;Quarterly Results 10-Aug-20
FORCEMOT Quarterly Results 10-Aug-20 TITAN Quarterly Results 10-Aug-20
HEG Quarterly Results 10-Aug-20 TRANSPEK Quarterly Results 10-Aug-20
INDIGO General 10-Aug-20 TTKPRESTIG Quarterly Results 10-Aug-20
IPCALAB Quarterly Results 10-Aug-20 UJJIVAN Quarterly Results 10-Aug-20
KEC Quarterly Results 10-Aug-20 URJAGLOBA General;Quarterly Results;Rights Issue 10-Aug-20
KIRIINDUS Quarterly Results 10-Aug-20 VMART Quarterly Results 10-Aug-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ALKEM 10-Aug-20 Final Dividend – Rs. – 3.00 ORIENTCQ 11-Aug-20 Final Dividend – Rs. – 6.00
ASHIANA 10-Aug-20 Final Dividend – Rs. – 0.30 PONNIERODE 11-Aug-20 Dividend – Rs. – 4.00
HONAUT 10-Aug-20 Final Dividend – Rs. – 75.00 TTFL 11-Aug-20 Bonus issue 14:10
UNIVCABLES 10-Aug-20 Final Dividend – Rs. – 2.00 AUTOAXLES 12-Aug-20 Final Dividend – Rs. – 0.80
VINDHYATEL 10-Aug-20 Dividend – Rs. – 10.00 NATCAPSUQ 12-Aug-20 Dividend – Rs. – 0.60
ATFL 11-Aug-20 Final Dividend – Rs. – 3.00 APCL 13-Aug-20 Dividend – Rs. – 5.00
INDIGRID 11-Aug-20 Income Distribution (InvIT) BAJAJST 13-Aug-20 Final Dividend – Rs. – 2.00
NUCLEUS 11-Aug-20 Interim Dividend – Rs. – 3.00 BSOFT 13-Aug-20 Final Dividend – Rs. – 1.00

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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