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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