NIFTY:
The Nifty opened with a stunning gap up around 11270 up almost 55 points and then spent half of the day trying to cross 11300 decisively. Around 1:35 the Nifty fell almost 70 points in 30 minutes and made today’s lows at 11238. The opening gap was maintained as the Nifty closed almost near the opened at 11274.70. The Pharma sector had outperformed yesterday and gained more than 5% and then Realty which closed up by 2.82%. The Nifty broke out above 11237 resistance, we had given a buy signal above this level. In the first five minutes, the market opened with a large gap up and then continued to go higher. The first five minutes closed at 11292. We assume that traders went long. The stop loss for this trade should now be tightened up and placed at 11237. Target for this up move is around 11375.
On Friday, we made this point that the market is facing repeated resistance around 11300. Yesterday, the Nifty went above this level rather easily. But by closing bell the Nifty had come below this level. Today we have to see whether this level holds or not. Buy if prices break above 11300.
BANK NIFTY:
Bank Nifty opened at 21825 with a gap up of 70 points. The index first moved up quickly and then traded sideways for most part of the day and finally closed at 21900 up almost 450 points. PSU and Private Banks have performed well and closed higher. Within the index, in terms of points, ICICI Bank contributed highest while RBL Bank the lowest. On Friday, we suggested taking a trade on the breakout from 21350-21950. Prices have broken on the upside, so our long trade has been activated.
Intraday traders should buy above 22100 or sell below 21750. Keep a stop of 300 points and target of 500 points.
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TECHNICAL PICKS
| COMPANY . | B/S | RATIONALE | |
| SUNPHARMA | 543.85 | 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 538 and for the target of 560. |
| ESCORTS | 1114.05 | BUY | The stock has been trading in a range and has now reached the lower end of the range, taken support and started moving up. The stock can be bought at CMP with a stop at 1090 and for the target of 1160 |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| ICICIBANK | 360 CE | BUY | 17.50 | CMP | 14 | 25.20 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| BHARATFORG.Aug 27 | 418.25 | 2.15 | 21.53 | 6087000 | CONCOR.Aug 27 | 388.25 | -14.59 | 91.3 | 7591491 | |
| MOTHERSUMI.Aug 27 | 104.9 | 4.95 | 17.79 | 26691000 | BATAINDIA.Aug 27 | 1239.45 | -1.92 | 14.03 | 2857250 | |
| AMARAJABAT.Aug 27 | 754.8 | 4.5 | 16.15 | 1525000 | BAJFINANCE.Aug 27 | 3426.5 | -1.49 | 13.92 | 5605750 | |
| IBULHSGFIN.Aug 27 | 206.3 | 6.26 | 15.94 | 15087700 | RAMCOCEM.Aug 27 | 688.75 | -0.38 | 12.54 | 1891250 | |
| CIPLA.Aug 27 | 801.9 | 9.5 | 15.44 | 17686500 | SIEMENS.Aug 27 | 1133.9 | -2.12 | 11.35 | 2175250 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| IDEA.Aug 27 | 9.1 | 2.25 | -9.77 | 363160000 | CENTURYTEX.Aug 27 | 318.55 | -1.16 | -8.36 | 3515400 | |
| NIITTECH.Aug 27 | 1996.2 | 0.02 | -4.7 | 418125 | CANBK.Aug 27 | 101.25 | -0.39 | -3.8 | 12520000 | |
| TORNTPOWER.Aug 27 | 339.1 | 0.03 | -3.32 | 2706000 | IDFCFIRSTB.Aug 27 | 28.45 | -0.18 | -1.89 | 122037000 | |
| BALKRISIND.Aug 27 | 1366.75 | 0.78 | -2.44 | 2464000 | BAJAJFINSV.Aug 27 | 6426.7 | -1.13 | -1.75 | 827875 | |
| VEDL.Aug 27 | 126.5 | 2.43 | -2.31 | 122871600 | UJJIVAN.Aug 27 | 238.7 | -1 | -1.61 | 2965600 | |
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TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Hdfc Ltd. | 1798.95 | 1.2 | 3030917 | 3082806 | 60.09 | Nifty Pharma | 11941.4 | 5.37 | 82362 | |
| Petronet Lng Limited | 247.3 | 1.15 | 2142610 | 1382643 | 57.44 | Nifty Auto | 7621.3 | 0.88 | 82362 | |
| Siemens Ltd | 1132.3 | -1.74 | 888158 | 313392 | 53.55 | Nifty it | 18159.55 | 0.86 | 82362 | |
| Itc Ltd. | 198.85 | 1.43 | 16474715 | 10870977 | 51.98 | Nifty Metal | 2332 | 0.76 | 82362 | |
| Dlf Limited | 148.65 | 4.79 | 14527334 | 5385356 | 51.34 | Nifty Bank | 21900.25 | 0.67 | 82362 | |
| Hindustan Unilever Ltd | 2206.75 | -0.17 | 1476389 | 893781 | 50.27 | Nifty 50 | 11270.15 | 0.5 | 82362 | |
| Larsen & Toubro Limited | 960.05 | 4.85 | 11861752 | 1181837 | 48.02 | Nifty Fmcg | 31621.75 | 0.42 | 82362 | |
| Ntpc Limited | 88.2 | 2.8 | 12215888 | 4881761 | 47.21 | Nifty Media | 1339.75 | 0.28 | 82362 | |
| Hcl Technologies Ltd. | 692.05 | 0.25 | 3769575 | 3393887 | 46.04 | Nifty Energy | 15515.35 | 0.11 | 82362 | |
| Sbi Life Insurance Compa | 865.75 | -0.33 | 1090544 | 376649 | 45.53 | India Vix | 22.51 | -0.31 | 82362 | |
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
| •S&P Global Ratings on Monday said that Reliance Industries Ltd’s sizable proceeds from asset monetization over the past four months should significantly improve its credit quality. “RIL’s deleveraging could exceed our expectations, given the extent and magnitude of its asset monetization,” the rating agency said in a statement. The asset monetization was despite operations that are trending weaker than anticipated for the fiscal year ending March 31, 2021.
•Indian government is planning to promote the manufacturing of selected products, especially in areas where China enjoys a big share in the global market, as part of efforts to reduce imports and push exports, said minister Nitin Gadkari on Monday. •Blue Star has said it expects its room or residential air conditioners and commercial refrigeration businesses to get back to normal by the last quarter of the current financial year after it reported a steep fall in its revenue hit by COVID-19 led disruptions. The company, which reported a consolidated net loss of 19.66 crore for the first quarter ended June 30, 2020, said its manufacturing and supply chain operations are fully operational. •L&T Metro Rail (Hyderabad) Limited may invoke force majeure clause with the Telangana government seeking extension of the concession period equivalent to the time it could not operate due to the lockdown. The concession period of the project is 35 years, from the appointed date of July 5, 2012 including the initial construction period of five years. Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| AXTEL | Quarterly Results | 11-Aug-20 | MOTHERSUMI | Quarterly Results | 11-Aug-20 |
| BAJAJELEC | Quarterly Results | 11-Aug-20 | OFSS | Quarterly Results | 11-Aug-20 |
| BIRLACABLE | Quarterly Results | 11-Aug-20 | PTC | Quarterly Results | 11-Aug-20 |
| BOSCHLTD | Quarterly Results | 11-Aug-20 | RATNAMANI | Quarterly Results | 11-Aug-20 |
| CENTRALBK | Quarterly Results | 11-Aug-20 | RCF | General;Quarterly Results | 11-Aug-20 |
| CHALET | Quarterly Results | 11-Aug-20 | RITES | Quarterly Results | 11-Aug-20 |
| GALAXYSURF | Quarterly Results | 11-Aug-20 | SOMANYCERA | Quarterly Results | 11-Aug-20 |
| GUJALKALI | Quarterly Results | 11-Aug-20 | STARCEMENT | Quarterly Results | 11-Aug-20 |
| HONDAPOWER | Quarterly Results | 11-Aug-20 | SUVEN | ESOP;Quarterly Results | 11-Aug-20 |
| INDOCO | Quarterly Results | 11-Aug-20 | SYMPHONY | Quarterly Results | 11-Aug-20 |
| JMCPROJECT | General;Quarterly Results | 11-Aug-20 | TCIIND | Quarterly Results | 11-Aug-20 |
| KRBL | Quarterly Results | 11-Aug-20 | USHAMART | Quarterly Results | 11-Aug-20 |
| METROPOLIS | Quarterly Results | 11-Aug-20 | VSTTILLERS | Quarterly Results | 11-Aug-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| 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 |
| ORIENTCQ | 11-Aug-20 | Final Dividend – Rs. – 6.00 | DABUR | 13-Aug-20 | Final Dividend – Rs. – 1.60 |
| PONNIERODE | 11-Aug-20 | Dividend – Rs. – 4.00 | EMBASSY | 13-Aug-20 | Income Distribution RITES |
| TTFL | 11-Aug-20 | Bonus issue 14:10 | ERIS | 13-Aug-20 | Interim Dividend – Rs. – 5.50 |
| AUTOAXLES | 12-Aug-20 | Final Dividend – Rs. – 0.80 | ESCORTS | 13-Aug-20 | Final Dividend – Rs. – 2.50 |
| NATCAPSUQ | 12-Aug-20 | Dividend – Rs. – 0.60 | GPTINFRA | 13-Aug-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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