NIFTY:
The Nifty again opened with a gap up of 52 points at 11322 and made today’s high of 11373. The Nifty had a choppy day, first moving up and then moving down and then repeating the same. Finally the Nifty closed above today’s open at 11322.50 up by 52 points. Yesterday’s intraday movement did not give much opportunity for traders except for a buying opportunity which came when the Nifty fell to a low of 11300 around 12:25 PM. That low was immediately purchased and the market had a handsome rally from that point onwards. Bank Nifty, Media, Financial and Metal have closed higher by more than 1% while Pharma underperformed.
The long term trend remains up. Long term momentum was falling, but started rising daybefore and continued yesterday. Yesterday was one of the narrowest range trading days in the Nifty. This narrow range reflects confusion. The Nifty is also pushing against 11300 where earlier resistance was encountered. Most of Europe did very well yesterday. We may see a big move today in the Nifty.
BANK NIFTY:
Bank Nifty opened at 22050.20 with a gap up of 123 points. The index first moved up quickly and then saw a sharp decline and then traded sideways. Another rally in the second half brought prices higher again and the index finally closed at 22237.50. Private Banks have performed well and closed higher by 1.67%. Within the index, in terms of points, Axis Bank contributed highest while Bank Baroda contributed lowest. We already have a long position in the index taken around 21950 with a stop of 21700 and a target of 22950.
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TECHNICAL PICKS
| COMPANY . | B/S | RATIONALE | |
| INDUSIND BANK | 522 | BUY | The stock has been trading in a range and has now given a breakout upwards. The stock can be bought above 524 with a stop at 514 and for the target of 544 |
| CHOLAFIN | 207.15 | 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 204 and for the target of 212 |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| AXIS BANK | 440 CE | BUY | 23.40 | CMP | 20 | 29.50 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| IBULHSGFIN.Aug 27 | 216.75 | 5.32 | 21.36 | 18017200 | SHREECEM.Aug 27 | 21561.95 | -4.05 | 19.88 | 198050 | |
| MOTHERSUMI.Aug 27 | 107.9 | 2.42 | 20.66 | 31843000 | NIITTECH.Aug 27 | 1965.9 | -1.52 | 19.17 | 494250 | |
| BANKNIFTY.Aug 27 | 22310 | 1.61 | 19.51 | 1566200 | CONCOR.Aug 27 | 380 | -2.19 | 11.77 | 6947535 | |
| ZEEL.Aug 27 | 160 | 5.12 | 17.53 | 37551000 | SUNTV.Aug 27 | 399 | -0.29 | 11.47 | 5830500 | |
| RAMCOCEM.Aug 27 | 703.75 | 2.04 | 16.24 | 2153900 | BANDHANBNK.Aug 27 | 302.45 | -0.1 | 10.43 | 29772000 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| EICHERMOT.Aug 27 | 21464.8 | 0.26 | -5 | 257355 | AMARAJABAT.Aug 27 | 740.8 | -1.63 | -5.11 | 1429000 | |
| SIEMENS.Aug 27 | 1164.5 | 2.61 | -3.26 | 2058100 | CHOLAFIN.Aug 27 | 207.05 | -0.98 | -4.97 | 5207500 | |
| TORNTPOWER.Aug 27 | 340.8 | 0.37 | -2.47 | 2601000 | MUTHOOTFIN.Aug 27 | 1176.9 | -0.28 | -3.61 | 5370750 | |
| ESCORTS.Aug 27 | 1121.35 | 0.35 | -2.42 | 2487100 | CENTURYTEX.Aug 27 | 312.8 | -2.45 | -3.59 | 3123400 | |
| TATAPOWER.Aug 27 | 52.15 | 0.87 | -2 | 60304500 | APOLLOHOSP.Aug 27 | 1746.05 | -1.4 | -3.36 | 1208000 | |
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TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Petronet Lng Limited | 246.8 | -0.2 | 3441281 | 1421043 | 66.32 | Nifty Media | 1366.4 | 1.99 | 84306 | |
| Sbi Life Insurance Compa | 860.6 | -0.59 | 971872 | 636387 | 58.36 | Nifty Metal | 2370.65 | 1.66 | 84306 | |
| Hdfc Life Insurance Comp | 608.75 | -0.02 | 1539726 | 1051588 | 51.83 | Nifty Bank | 22227.2 | 1.49 | 84306 | |
| Hindustan Unilever Ltd | 2210.65 | 0.18 | 1665204 | 743549 | 50.36 | Nifty Energy | 15588.25 | 0.47 | 84306 | |
| Hdfc Ltd. | 1826.75 | 1.55 | 4944312 | 1519312 | 50.13 | Nifty Fmcg | 31767.75 | 0.46 | 84306 | |
| Icici Prudential Life In | 477.2 | -1.05 | 1498774 | 1062497 | 49.81 | Nifty 50 | 11322.5 | 0.46 | 84306 | |
| Hcl Technologies Ltd. | 683.8 | -1.19 | 3956472 | 1828355 | 48.5 | Nifty Auto | 7630.35 | 0.12 | 84306 | |
| The Ramco Cements | 698.95 | 1.95 | 1659090 | 426847 | 47.8 | Nifty it | 18057.1 | -0.56 | 84306 | |
| Vedanta Limited | 125.6 | 0.32 | 12100883 | 5119190 | 46.6 | Nifty Pharma | 11772.25 | -1.42 | 84306 | |
| Bandhan Bank Limited | 300.6 | -0.27 | 39908487 | 6207915 | 46.4 | India Vix | 21.36 | -5.11 | 84306 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| •INR: CPI (YoY) (Jul) on 12th August, 2020
•INR: WPI Inflation (YoY) (Jul) on 14th August, 2020 |
•USA: Crude Oil Inventories on 12th August, 2020
•USA: Core CPI (MoM) (Jul) on 12th August, 2020 |
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NEWS UPDATES
| •Moody’s Investors Service has assigned a B3 rating to the proposed USD notes to be issued by Vedanta Holdings Mauritius II Limited, a wholly-owned, step-down subsidiary of Vedanta Resources Limited (VRL). The outlook on the rating is negative.
•Covid-19 pandemic is set to impact the India growth story and the country’s gross domestic product (GDP) could in fact shrink in 2020, as per a Dun & Bradstreet global report. India could witness a negative growth of 4.5% in 2020 fiscal, but could grow at a healthy growth rate of 6.3% in 2021 fiscal. •Bajaj Electricals on Tuesday reported a consolidated net loss of Rs 16.60 crore for the first quarter ended June 30, 2020, on account of lower income. The company had posted a net profit of Rs 13.70 lakh in the April-June quarter a year ago, it said in a BSE filing. Its total income during the quarter under review stood at Rs 615.34 crore, down 53.3 per cent, as against Rs 1,317.99 crore in the corresponding quarter last fiscal. •CRISIL has reaffirmed A1-plus rating on the Rs 100 crore commercial paper programme of food services major Jubilant FoodWorks which operates Domino’s Pizza and Dunkin’ Donuts chain in India. The rating continues to reflect an established market position in the quick-service restaurant (QSR) segment, healthy operating efficiency driven by a robust supply-chain network and a strong financial risk profile, said CRISIL. Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| AARTIIND | Quarterly Results | 12-Aug-20 | IONEXCHANG | Quarterly Results | 12-Aug-20 |
| ACRYSIL | Quarterly Results | 12-Aug-20 | KALPATPOWR* | General;Quarterly Results | 12-Aug-20 |
| ADVENZYMES | Quarterly Results | 12-Aug-20 | NATCOPHARM | Interim Dividend;Quarterly Results | 12-Aug-20 |
| ASHOKLEY | Quarterly Results | 12-Aug-20 | NCC | Quarterly Results | 12-Aug-20 |
| AUROPHARMA | Interim Dividend;Quarterly Results | 12-Aug-20 | NELCAST | Quarterly Results | 12-Aug-20 |
| BALAMINES | Quarterly Results | 12-Aug-20 | POWERINDIA | Quarterly Results | 12-Aug-20 |
| BHARATFORG | Quarterly Results | 12-Aug-20 | RUPA | Quarterly Results | 12-Aug-20 |
| CENTURYPLY | General;Quarterly Results | 12-Aug-20 | SCHNEIDER | Quarterly Results | 12-Aug-20 |
| CESL | Quarterly Results | 12-Aug-20 | SMSPHARMA | Quarterly Results | 12-Aug-20 |
| CUMMINSIND | Audited Results;General | 12-Aug-20 | TANLA | Quarterly Results | 12-Aug-20 |
| FINEORG | Quarterly Results | 12-Aug-20 | TATAPOWER | General;Quarterly Results | 12-Aug-20 |
| GRAPHITE | Quarterly Results | 12-Aug-20 | TCI | Quarterly Results | 12-Aug-20 |
| GSFC | Quarterly Results | 12-Aug-20 | THERMAX | Quarterly Results | 12-Aug-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| 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 |
| APCL | 13-Aug-20 | Dividend – Rs. – 5.00 | MARUTI | 13-Aug-20 | Final Dividend – Rs. – 60.00 |
| BAJAJST | 13-Aug-20 | Final Dividend – Rs. – 2.00 | NTPC | 13-Aug-20 | Final Dividend – Rs. – 2.65 |
| BSOFT | 13-Aug-20 | Final Dividend – Rs. – 1.00 | OSWALOR | 13-Aug-20 | Stock Split From Rs.10/- to Rs.5/- |
| DABUR | 13-Aug-20 | Final Dividend – Rs. – 1.60 | TTKPRESTIG | 13-Aug-20 | Dividend – Rs. – 20.00 |
| EMBASSY | 13-Aug-20 | Income Distribution RITES | ASMTEC | 14-Aug-20 | Interim Dividend – Rs. – 2.00 |
| ERIS | 13-Aug-20 | Interim Dividend – Rs. – 5.50 | CENTURYTEX | 14-Aug-20 | Dividend – Rs. – 3.00 |
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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