outlookNIFTY:

The Nifty opened lower in the morning at 11289 with a gap down of 33 points and then went down another 30 points. The index made its intraday low there and then started a slow and steady rise which went on throughout the day. Finally the index closed at 11308 without much change to daybefore’s closing. The Nifty had a very narrow range movement throughout the day, continuing this narrow range over the last 5 or 6 trading days. Auto and Media sectors have performed well and closed higher by more than 2%.

There is no visible pattern which could give us a tradable setup in Nifty. However the last 6 days of narrow price movements tells us that a sharp move is near. That move can be in either direction. Traders should focus on intraday basis and follow early morning momentum.

BANK NIFTY:

Bank Nifty opened at 22135.95 with a gap down of 102 points. In the first 5 minutes of trading the index fell down another 140 points and then rallied for the whole day. Prices have closed near its top at 22264.45, without much of change. PSU Banks have performed well and closed higher by 2.70%. Within the index, in terms of points, SBI contributed highest while Kotak Bank the lowest.

We were expecting a sharp move yesterday which did not come, but it will come sooner rather then later in either side. A short term resistance is visible around 22300 while a short term support is visible around 21300.

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TECHNICAL PICKS

COMPANY  . B/S RATIONALE
DIVISLAB 3117 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 3085 and for the target of  3220.
NIITTECH  2001.95 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 above 2006 with a stop at 1980 and for the target of  2060.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
ASIAN PAINTS 1800 CE BUY 45.55 CMP 40 56 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
INDIGO.Aug 27 1039.3 10.29 26.86 3561500 NAUKRI.Aug 27 3268 -4.13 18 921250
BHARATFORG.Aug 27 434.2 4.65 23.34 6904500 CONCOR.Aug 27 365.95 -3.55 17.8 7808748
PVR.Aug 27 1192.5 6.66 18.66 1767601 SRTRANSFIN.Aug 27 668 -1.29 11.03 3076204
BHEL.Aug 27 36.5 1.53 16.13 59577000 MANAPPURAM.Aug 27 154.8 -2.18 9.63 23436000
BANKBARODA.Aug 27 48.65 2.85 13.4 54751400 BRITANNIA.Aug 27 3823 -1.6 9.5 1334400
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
EQUITAS.Aug 27 51.05 2.3 -8.86 11802800 AMARAJABAT.Aug 27 743.55 -0.07 -8.88 1282000
IBULHSGFIN.Aug 27 219 1.51 -8.53 16151000 GLENMARK.Aug 27 471 -1.75 -5.99 7366900
UJJIVAN.Aug 27 236.05 0.85 -5.57 2684000 JINDALSTEL.Aug 27 210 -0.99 -5.27 18875000
BATAINDIA.Aug 27 1235.1 0.08 -5.19 2652650 MUTHOOTFIN.Aug 27 1149 -2.41 -4.11 5126250
CUMMINSIND.Aug 27 418.5 1.38 -4.32 1938000 GODREJPROP.Aug 27 882 -1.71 -3.96 393900

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Power Finance Corporatio 91.65 1.78 9108053 8801046 62.88 Nifty Media 1398.85 2.37 80100
United Spirits Limited 582.6 -0.03 994256 1486711 58.27 Nifty Auto 7785.05 2.03 80100
Bandhan Bank Limited 297.35 -1.08 15454666 22756325 57.02 Nifty Bank 22264 0.17 80100
Sbi Life Insurance Compa 856.9 -0.43 1068002 529202 54.45 Nifty it 18066 0.05 80100
Hdfc Life Insurance Comp 608.75 0 3419611 831979 54.03 Nifty 50 11308.4 -0.12 80100
Hdfc Ltd. 1814.2 -0.69 3606317 2587133 52.33 Nifty Energy 15549 -0.25 80100
Tata Chemicals Ltd. 295.9 -0.39 940734 670462 51.85 Nifty Fmcg 31636.7 -0.41 80100
Icici Prudential Life In 477.45 0.05 2551006 736556 49.14 Nifty Metal 2354.8 -0.67 80100
Godrej Cons Products Ltd 689.95 0.31 548017 321546 47.83 Nifty Pharma 11590.25 -1.55 80100
Power Grid Corporation o 178.05 0.68 10932584 5742441 46.76 India Vix 20.85 -2.39 80100

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR: Trade Balance on 14th August, 2020

•INR: WPI Inflation (YoY) (Jul) on 14th August, 2020

•USA: Initial Jobless Claims on 13th August, 2020

•USA: Core Retail Sales (MoM) (Jul) on 14th August, 2020

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NEWS UPDATES

•The Hindustan Aeronautics Limited said on Wednesday two Light Combat Helicopters (LCH) produced by it have been deployed for operations at high altitude (Leh sector) at short notice to support IAF missions, “in the light of the prevailing situation on the border.” “It is the lightest attack helicopter in the world designed and developed by HAL to meet the specific and unique requirements of Indian Armed Forces reflecting the crucial role of HAL in’Atma Nirbhar Bharat’,”HAL’s CMD, R Madhavan, said.

•Supply chain and logistics solutions provider Transport Corporation of India Ltd (TCIL) on Wednesday posted 67 per cent plunge in its profit after tax at Rs 9.8 crore for the quarter ended June as compared to Rs 29.7 crore in Q1 FY20. Total revenues dipped by 46 per cent to Rs 337 crore in Q1 FY21 due to Covid-19 national lockdown.

•The country’s largest iron ore miner NMDC on Wednesday hiked rates of the mineral by Rs 300 to Rs 2,950 a tonne with immediate effect. Iron ore is the key raw material used in steel making. Any change in its prices has a direct impact on the rates of steel.

•Titan Co. Ltd. is witnessing a slight increase in demand for jewellery, aided by pent-up purchases for weddings, as stores reopen after India eased the lockdown to contain the pandemic. “We’ve come to a hypothesis: since wedding spends have come down substantially due to Covid-19, people are possibly spending that money more on jewellery,” S Subramaniam, chief financial officer of Titan.

Source: Economic Times,  Moneycontrol  ,Business Today,Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
20MICRONS Quarterly Results 13-Aug-20 EXCELINDUS Quarterly Results 13-Aug-20
3MINDIA General;Quarterly Results 13-Aug-20 GAIL Quarterly Results 13-Aug-20
ABFRL Quarterly Results 13-Aug-20 GODREJIND Quarterly Results 13-Aug-20
APLAPOLLO Quarterly Results 13-Aug-20 GRASIM Quarterly Results 13-Aug-20
BALKRISIND Interim Dividend;Quarterly Results 13-Aug-20 GREAVESCOT Quarterly Results 13-Aug-20
BANKINDIA General 13-Aug-20 HEROMOTOCO Quarterly Results 13-Aug-20
BHARATGEAR Quarterly Results 13-Aug-20 MINDACORP Quarterly Results 13-Aug-20
BPCL Quarterly Results 13-Aug-20 MINDTECK Quarterly Results 13-Aug-20
DBCORP Quarterly Results 13-Aug-20 PFC Quarterly Results 13-Aug-20
DCMSRMIND Quarterly Results 13-Aug-20 PRESTIGE Quarterly Results 13-Aug-20
EICHERMOT Quarterly Results 13-Aug-20 PRSMJOHNSN General;Quarterly Results 13-Aug-20
ENDURANCE Quarterly Results 13-Aug-20 TATASTEEL General;Quarterly Results 13-Aug-20
ENGINERSIN Quarterly Results 13-Aug-20 TRENT Quarterly Results 13-Aug-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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. – 2.6500
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
ESCORTS 13-Aug-20 Final Dividend – Rs. – 2.50 HAWKINCOOK 14-Aug-20 Interim Dividend – Rs. – 80.00
GPTINFRA 13-Aug-20 Final Dividend – Rs. – 1.50 MINDAIND 14-Aug-20 Right Issue of Equity Shares

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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