outlookNIFTY:

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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