NIFTY:
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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