NIFTY:

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:

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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TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
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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DERIVATIVE PICKS

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
Sector Price Price% OI% OI Sector Price Price% OI% OI
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
GLENMARK.Jul 30 433 1.8 -3 4905900
INDUSINDBK.Jul 30 558.25 0.6 -2.99 32677600

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
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

   Domestic                                                                                                                                                  International
•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

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NEWS UPDATES

•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

BOARD MEETINGS

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
MAHABANK General 10-Jul-20 VARDMNPOLY Audited Results 10-Jul-20
RCL Audited Results;Quarterly Results 10-Jul-20 VISHAL Audited Results 10-Jul-20
RODIUM Audited Results 10-Jul-20 YASHCHEM General 10-Jul-20

CORPORATE ACTION

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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