The Nifty opened higher after daybefore’s decline, and then went in the process of consolidation at the higher levels. Finally closing above 10,800 with significant gains of 107 points. The index closed at 10813 above the resistance. Trading yesterday was relatively simple, with the index going through intraday corrections and then continuing its advance. We recommended buying above 10800, stay long on your positions with a stop at 10690. A new trading now visible comes in with resistance at 10859 and support at 10690. The long term trend is up. Momentum continues to be strong suggesting there is very significant strength in the up move.
Traders who are not long may consider buying above 10859 with a stop under 10690.
Bank Nifty opened at 22753.15 with a gap up of 192 points. The index traded very narrow yesterday but seen a sharp rally in the last hour of trading. That rally helped index to close at the top of the day at 22954.90 with a gain of 393 points. PSU and Private banks both have performed well today and closed higher by more than 1%. Within the index, in terms of points, SBI contributed highest while PNB contributed lowest. We have a long position in the index taken around 22500. We should hold it with suggested stop and target. Past few days were very narrow. However prices are in an uptrend but the narrow movement suggests a sharp move should come with large range days. For now we have seen a positive breakout, this momentum may reverse if we see prices below 21800.
Buy on a dip towards 22700 or breakout above 23100.
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|MGL||1010||BUY||The stock has been consolidating in a narrow range for a few days and has given an upwards breakout. The stock can be bought at CMP with a stop loss at 1000 and for the target of 1030.|
|HINDPETRO||205||SELL||The immediate trend of the stock is down. After a short period of consolidation, the stock has given a breakdown. The stock can be sold below 204 with a stop at 215 for the target of 185|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|MOTHERSON SUMI||97.5 CE||BUY||6||CMP||5.15||8.50||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|ESCORTS.Jul 30||1134.9||4.38||25.69||3202100||TATACHEM.Jul 30||309.1||-1.42||22.79||4288000|
|MGL.Jul 30||1014.45||0.54||23.65||1032000||SRTRANSFIN.Jul 30||723.75||-1.44||22.28||2946450|
|M&MFIN.Jul 30||208||3.46||18.67||13479900||COALINDIA.Jul 30||130.95||-1.84||19.24||40733300|
|MUTHOOTFIN.Jul 30||1093||0.3||15.23||4062000||CUMMINSIND.Jul 30||401.65||-2.45||16.05||1909200|
|NIITTECH.Jul 30||1565.1||1.8||14.64||610875||BATAINDIA.Jul 30||1289.5||-0.13||10.63||1975050|
|Short Covering||Long Unwinding|
|SAIL.Jul 30||36.6||3.1||-15.76||45087000||CANBK.Jul 30||108.85||-0.55||-2.16||13125000|
|EQUITAS.Jul 30||58.55||3.17||-9.12||11658400||GODREJCP.Jul 30||695.25||-0.39||-0.89||7206000|
|JUSTDIAL.Jul 30||375.6||0.43||-3.33||1341200||AMARAJABAT.Jul 30||697.7||-0.21||-0.26||1528000|
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TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Page Industries Limited||19993.6||-0.55||99543||41675||70.94||Nifty Metal||2094.3||1.95||81696|
|Sbi Life Insurance Compa||840.25||-1.23||1180400||1073344||63.58||Nifty Bank||22907.2||1.43||81696|
|Divi S Laboratories Limi||2176.35||0.59||819363||965534||60.86||Nifty 50||10813.45||1.01||81696|
|Power Grid Corporation o||171.55||1.06||9061924||5386940||56.94||Nifty Realty||204.75||0.52||81696|
|Ntpc Limited||91.2||0.22||11910945||14761827||56.22||Nifty Media||1374.55||0.46||81696|
|Apollo Hospitals Ltd||1404||0.73||534663||521590||55.98||Nifty Pharma||9987.55||0.39||81696|
|Marico Limited||343.05||-1.82||2407863||1028024||53.55||Nifty Auto||7085.6||0.37||81696|
|Petronet Lng Limited||265||0.32||3547406||2273649||53.33||Nifty it||15535.95||0.14||81696|
|Hindustan Unilever Ltd||2175.85||-0.47||3039821||1686428||50.34||Nifty Fmcg||30671.75||-0.33||81696|
|Tech Mahindra Limited||577.3||-1.05||2498149||1703551||50.24||India Vix||24.91||-4.55||81696|
UPCOMING ECONOMIC DATA
|•INR: FX Reserves, USD on 10th July, 2020
•INR: Industrial Production (YoY) (May) on 10th July, 2020
|•USA: PPI (MoM) (Jun) on 10th July, 2020|
|•Coal India on Thursday said it has lined up Rs.10,000 crore as capital expenditure (capex) for the current financial year. “Subsidiary-wise combined capex plan and capital budget of CIL as whole for FY 2020-21 is pegged at Rs.10,000 crore,” Coal India (CIL) said in a statement. While the plant and machinery portion, including procurement of heavy earth moving machinery (HEMM), comprises the major share with over Rs.3,700 crore for the year, the expenditure on land acquisition and rehabilitation and resettlement involves upwards of Rs.1,900 crore, it said.
•Flipkart Group has bought a minority stake in Arvind Fashions Ltd’s (AFL) recently created subsidiary Arvind Youth Brands for Rs. 260 crore. The company, which owns denim brand Flying Machine, plans to build the brand online and in India’s smaller markets.
•BHEL on Thursday said it has successfully commissioned a 1.7 MW solar photovoltaic (PV) plant at Bina in Madhya Pradesh for the Indian Railways. The plant will directly feed power to traction systems of Indian Railways, a Bharat Heavy Electricals Limited (BHEL) statement said. “The project is a landmark achievement in the history of solar power, as this is the first time that solar power is being directly used for traction applications.
•Whirlpoolof India Ltd on Thursday announced resignation of its Chief Financial Officer (CFO) Yatin Malhotra and appointment of Aditya Jain as his replacement.
Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint
|Company Name5||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|CANBK||General||10-Jul-20||RRFIN||Audited Results;Quarterly Results||10-Jul-20|
|FCONSUMER||Audited Results||10-Jul-20||SAIL||Audited Results||10-Jul-20|
|GNFC||Audited Results;Dividend||10-Jul-20||SANPA||Audited Results||10-Jul-20|
|IRCTC||Audited Results;Final Dividend||10-Jul-20||SDL||A.G.M.;Dividend;General; Results||10-Jul-20|
|JAYSHREETEA||Audited Results;General||10-Jul-20||SHRIRAMEPC||Preferential Issue of shares||10-Jul-20|
|JMDVL||Audited Results||10-Jul-20||SVAMSOF||Audited Results||10-Jul-20|
|KTKBANK||Quarterly Results||10-Jul-20||UJAAS||Audited Results;Quarterly Results||10-Jul-20|
|LAKSHVILAS||Audited Results||10-Jul-20||UNITEDTE||Audited Results||10-Jul-20|
|RCL||Audited Results;Quarterly Results||10-Jul-20||VISHAL||Audited Results||10-Jul-20|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|DRREDDY||13-Jul-20||Final Dividend – Rs. – 25.00||TATAPOWER||14-Jul-20||Dividend – Rs. – 1.5500|
|ELANTAS||13-Jul-20||Final Dividend – Rs. – 5.00||ACGL||15-Jul-20||Final Dividend – Rs. – 5.00|
|TATAELXSI||13-Jul-20||Final Dividend – Rs. – 16.50||PETRONET||15-Jul-20||Final Dividend – Rs. – 7.00|
|WIREFABR||13-Jul-20||Final Dividend – Rs. – 0.10||SUYOG||15-Jul-20||Interim Dividend – Rs. – 0.50|
|INFRATRUST||14-Jul-20||Income Distribution (InvIT)||WENDT||15-Jul-20||Final Dividend – Rs. – 25.00|
|KUANTUM||14-Jul-20||Stock Split From Rs.10/- to Rs.1/-||ABB||16-Jul-20||Dividend – Rs. – 4.80|
|SKFINDIA||14-Jul-20||Special Dividend – Rs. – 130.00||ASTEC||16-Jul-20||Final 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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