outlookNIFTY:

The Nifty opened about one third of a percent lower than Thursday, probably pressurized by weak US markets and down Asian Markets in the morning. The lower open continued to put pressure on the Nifty and the index fell to make a low of 10713 somewhere around midday. From the lows the market began a rally and closed around the open. This means that there was a lot of intraday movement between the open and the close but finally the open and close matched, meaning the entire days movement was a big zero and resulted in nothing. Very often we see such days in the market. Trading range for the day was on the lower side with a range of 103 points for the Nifty. Our range of 10690 on the lower side and 10859 on the upper side remains intact.

Friday was the fifth day of a narrow range in the Nifty. This range is as tight as it can be, with a weight of barely 160 points. Such narrow range is unlikely to hold for long. Traders should go in the direction of the breakout.

Can look to buy above 10859 or sell below 10690.

BANK NIFTY:

Bank Nifty opened at 22720.95 with a gap down of 234 points. The index first moved higher and recorded its intraday high at 22835.20. Prices then began a decline for the whole day and closed near its day low at 22401.70 with a loss of 553 points. PSU and Private banks both have performed same today and closed lower by more than 2%. Within the index, in terms of points, ICICI Bank contributed lowest followed by Axis Bank. Prices have closed below the breakout point and previous support of 22500. Trend is up and one day of decline does not change that. A short term support comes around 21800. First warning of a trend change will come when prices break below this support level.

Buy on a dip towards 22000 or breakout above 22600

Trade AnyTime AnyWhere With Elite Empower Mobile App

Elite-Empower-App-Promotional-Banner-img1

TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
HDFC 1886 BUY The stock has been consolidating in  a narrow range for  a few days and has given an upwards breakout. The stock can be bought at CMP with a stop loss at 1874 and for the target of  1910-1920.
DLF 147.75 SELL The immediate trend of the stock is down. After a  short period of consolidation, the stock has given a breakdown. The stock can be sold below 143 with a stop at 147 for the target of 133

Get All Your Mutual Fund Portfolio Retuns on Your Mobile by Elite Kuber App


Elite-Kuber-Mutual-Fund-Promotional-Banner-img

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
HINDUNILVR 2240 CE BUY 63.25 57 45 77 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
IDEA.Jul 30 9.85 4.79 24.23 402640000 MGL.Jul 30 973.6 -4.1 26.83 1290600
EQUITAS.Jul 30 59.7 2.23 23.31 14151200 BALKRISIND.Jul 30 1270.75 -0.24 13.15 1459200
GODREJPROP.Jul 30 895.9 1.63 13.55 370500 BANKNIFTY.Jul 30 22435.85 -2.06 10.77 1615575
BRITANNIA.Jul 30 3741.15 1.47 7.81 1656200 INFRATEL.Jul 30 209.75 -2.65 10.67 12280800
VOLTAS.Jul 30 564.85 0.34 7.08 3284000 PNB.Jul 30 35.1 -5.52 7.71 61992000
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
SAIL.Jul 30 37.1 1.23 -7.15 41192000 CANBK.Jul 30 104.75 -3.81 -10.72 11535000
NIITTECH.Jul 30 1592.95 1.62 -6.57 463875 M&MFIN.Jul 30 203.15 -2.38 -7.15 10038000
IBULHSGFIN.Jul 30 236 2.65 -6.14 9907600 TATAPOWER.Jul 30 48.85 -4.12 -6.89 46359000
BHARTIARTL.Jul 30 575.4 0.85 -3.9 82763763 APOLLOHOSP.Jul 30 1406.35 -0.16 -5.77 881500
TCS.Jul 30 2225.45 1.43 -3.65 9531900 ZEEL.Jul 30 170.2 -1.16 -4.55 19509000

Get Stock Market Recommendation By Our Research Analysts

Market-Research-Promotional-Banner-img5

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Page Industries Limited 19892.75 -0.5 31504 81529 81.9 Nifty Pharma 10072.25 0.85 53751440
Petronet Lng Limited 261.6 -1.28 2754416 2390943 67.4 Nifty Realty 206.1 0.66 2147483500
Sbi Life Insurance Compa 860.2 2.37 2062806 790889 67 Nifty Energy 14698.5 0.53 3491199
Hindustan Petroleum Corp 209.9 2.22 7668893 5197381 65.61 Nifty Fmcg 30821.15 0.49 824471
Hdfc Life Insurance Comp 592.5 1.25 3207170 1416451 58.01 Nifty it 15565.2 0.19 2103524
Tata Chemicals Ltd. 299.6 -2.44 2997165 1854258 56.67 India Vix 24.94 0.12 216047182
Godrej Cons Products Ltd 697.25 0.54 1076732 597257 53.63 Nifty 50 10768.05 -0.42 50241857
Icici Prudential Life In 417.45 -3.65 3885699 565703 52.96 Nifty Auto 7041.1 -0.63 76534240
Hcl Technologies Ltd. 582.25 -1.02 2376908 2499237 51.98 Nifty Metal 2078.2 -0.77 260260548
Oil & Natural Gas Corp 78.55 -2.06 17773267 9004544 51.9 Nifty Bank 22398.45 -2.22 23977152

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR:  CPI (YoY) (Jun) on 13th July, 2020

•INR:  WPI Inflation (YoY) (Jun) on  14th July, 2020

•USA: Core CPI (MoM) (Jun) on  14th July, 2020

•USA: Industrial Production (YoY) (Jun) on  15th July, 2020

Open Your Demat Account to Invest in Upcoming IPO’sDemat-and-Trading-Account-Promotion-Banner

NEWS UPDATES

•Jio Platforms has received subscription amounts, totalling Rs.30,062.43 crore, for a 6.3% stake sale to L Catterton, PIF, Silver Lake, and General Atlantic Singapore. This statement comes after Jio received Facebook’s subscription amount of Rs 43,574 crore for 9.99 per cent stake on July 8.

•The chief executive officer of Asia’s largest IT services firm warned that a U.S. freeze on thousands of employment visas will only raise costs for American corporations like Wall Street banks, auto manufacturers and drugmakers. Tata Consultancy Services Ltd. CEO Rajesh Gopinathan told Bloomberg News the move has put massive stress on a huge swath of Indian-born engineers that have lived in the U.S. for years and helped support American clients, who will ultimately be the ones hurt most.

•SAIL has earned a net profit of Rs 2,021.54 crore in FY’20 on a turnover of Rs 61,024.88 crore. The net profit for the year was a shade below the previous year’s figure of Rs 2179 crore. The company also reported a Profit Before Tax (PBT) of Rs 3,170.66 crore in spite of the challenging market conditions including the onset of the coronavirus pandemic, an official statement said. SAIL said EBITDA per tonne of Saleable Steel improved from Rs 7,284 in FY19 to Rs 7,869 FY20.

•Regulator Irdai on Friday permitted life insurers to modify the terms of ‘Group Credit Life Master Policies’ of entities who have availed moratorium on repayment of loans announced by the Reserve Bank in view of the COVID-19 pandemic.

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

BOARD MEETINGS

Company Name5 Purpose Ex-Date Company Name Purpose Ex-Date
5PAISA Quarterly Results 13-Jul-20 MBLINFRA Audited Results 13-Jul-20
ANUPAM Audited Results 13-Jul-20 PANTH Audited Results 13-Jul-20
CUB A.G.M.;General 13-Jul-20 PRECISION Quarterly Results 13-Jul-20
DFL General 13-Jul-20 RITHWIKFMS Audited Results 13-Jul-20
ELAND Audited Results 13-Jul-20 SAB Quarterly Results 13-Jul-20
GKP General 13-Jul-20 SIMMOND Audited Results;General 13-Jul-20
INDIAHOME Audited Results;Dividend 13-Jul-20 STRIPMT Quarterly Results 13-Jul-20
INTLCONV Audited Results;Dividend;General 13-Jul-20 TEJNAKSH General;Quarterly Results 13-Jul-20
KONNDOR Audited Results 13-Jul-20 UNIAUTO Audited Results 13-Jul-20
KPL Audited Results 13-Jul-20 VINTRON Audited Results 13-Jul-20
LYKISLTD Audited Results;Quarterly Results 13-Jul-20 VLL General 13-Jul-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
DRREDDY 13-Jul-20 Final Dividend – Rs. – 25.00 TATAPOWER 14-Jul-20 Dividend – Rs. – 1.55
ELANTAS 13-Jul-20 Final Dividend – Rs. – 5.00 ACGL 15-Jul-20 Final Dividend – Rs. – 5.00
TATAELXSI 13-Jul-20 Final Dividend – Rs. – 16.50 PETRONET 15-Jul-20 Final Dividend – Rs. – 7.00
WIREFABR 13-Jul-20 Final Dividend – Rs. – 0.10 SUYOG 15-Jul-20 Interim Dividend – Rs. – 0.50
INFRATRUST 14-Jul-20 Income Distribution (InvIT) WENDT 15-Jul-20 Final Dividend – Rs. – 25.00
KUANTUM 14-Jul-20 Stock  Split From Rs.10/- to Rs.1/- ABB 16-Jul-20 Dividend – Rs. – 4.80
SKFINDIA 14-Jul-20 Special Dividend – Rs. – 130.00 ASTEC 16-Jul-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


For Daily Share Market Updates, Daily debt market review, Market Research Analysis reports, Weekly Techno-Funda Report, Fundamental Analysis Report, Monthly Recommended stock Picks, Equity Trading Tips, Upcoming IPO/NFO/Bonds/Ncd’s updates & other related information Subscribe our research plan