outlookNIFTY:

The Nifty opened with a large upwards gap, but did not sustain the higher levels, and began falling almost immediately after the first 30 minutes. The Nifty fell to make a low of 10756 and then began an intraday rally which saw it cross 10800 again. The trend was mainly down throughout the day. As the Nifty continues to move inside a narrow range, new trading ranges keep on developing. We are now looking at a support of 10750 and resistance at 10850. In a slightly broader range we can take 10719 as a support. The long term trend continues to be up, the long term momentum remains strong and suggests on going strength. Looking at the trend and strength of the market, traders should look for long trades.

Traders should keep their buy positions if any with a stop below 10719 and for the target of 11035. If the Nifty falls below 10719, then we can look to short Nifty for a significant downside target of 10562.

BANK NIFTY:

Bank Nifty opened at 22613.25 with a gap up of 212 points. The index started a down move just after the open and saw a downside move of more than 600 points. Prices than traded sideways for the rest of the day and finally closed with a loss of 288 points. PSU and Private banks both have performed almost same today and closed lower by more than 1%. Within the index, in terms of points, Axis Bank contributed highest while HDFC Bank contributed lowest. The index is now in a trading range of 21000-22500 with a short term support at 21800.

Buy on a dip towards 21800 or sell on a rally towards 22400.

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TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
TCS 2220 BUY The stock has been consolidating in  a narrow range for  a few days and is on a verge on an upwards breakout. The stock can be bought above 2230 with a stop loss at 2200 and for the target of  2290
TVSMOTOR 389.55 BUY Intermediate and short term trends are up in this stock. The stock has seen a sharp rally and are close to a strong support level. The prices can be bought above 390  with  a stop below 395 for the target of 400.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
DLF 142.50 PE BUY 8.15 8.25 7 10.75 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
IBULHSGFIN.Jul 30 239 1.27 20.84 11972200 SAIL.Jul 30 35.85 -3.37 10.89 45676000
MINDTREE.Jul 30 1013.05 0.17 8.32 1707200 BANKNIFTY.Jul 30 22174.55 -1.16 8.24 1748750
SUNTV.Jul 30 392 0.32 5.18 5667000 SRF.Jul 30 3858.4 -1.14 6.51 634250
AMARAJABAT.Jul 30 700.9 0.49 4.4 1543000 BATAINDIA.Jul 30 1253.85 -1.31 5.15 2110350
COLPAL.Jul 30 1435.65 2.76 3.69 2775500 ESCORTS.Jul 30 1132.3 -0.4 4.28 3192200
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
TORNTPOWER.Jul 30 330.05 0.67 -6.74 1578000 EQUITAS.Jul 30 58.4 -2.18 -16.11 11871200
ZEEL.Jul 30 173.85 2.14 -5.97 18345000 NIITTECH.Jul 30 1592 -0.06 -9.86 418125
JUBLFOOD.Jul 30 1641.9 0.83 -5.81 2190000 GODREJPROP.Jul 30 895.75 -0.02 -7.54 342550
JINDALSTEL.Jul 30 170.15 0.53 -5.22 17695000 CENTURYTEX.Jul 30 314.9 -0.19 -7.37 2868600
HINDUNILVR.Jul 30 2257.2 1.13 -4.71 16618500 PNB.Jul 30 34.6 -1.42 -6.39 58030000

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Container Corp Of India 425.45 -1.09 1275777 1213837 64.5 Nifty it 15819.2 1.63 1978570
Petronet Lng Limited 265.35 1.43 2364528 1756853 63.78 Nifty Metal 2105.15 1.3 248504501
Ultratech Cement Limited 3787.9 -0.28 302967 168344 49.98 Nifty Fmcg 31214.9 1.28 1012214
Balkrishna Ind. Ltd 1277.45 1.06 1014046 352966 49.94 India Vix 25.25 1.24 206619194
Page Industries Limited 19910.35 0.09 15098 15727 49.92 Nifty Energy 14835.1 0.93 4865026
Tata Consumer Products l 424.45 -1.31 2552387 1868410 49.62 Nifty Media 1376.45 0.63 379281657
Colgate Palmolive (india 1432.15 2.87 1612858 197952 47.3 Nifty Auto 7084.45 0.62 73731369
Mahanagar Gas Limited 969.95 0 685399 916428 46.02 Nifty Pharma 10106.6 0.34 51618537
United Breweries Limited 1007.95 -2.27 731056 322756 44.25 Nifty 50 10802.7 0.32 48307310
Power Grid Corporation o 169.1 -2.03 6077163 5894700 44.01 Nifty Bank 22089.25 -1.38 23412013

UPCOMING ECONOMIC DATA

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

•INR:  Trade Balance on 14th July, 2020

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

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

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NEWS UPDATES

•Vodafone Idea to put on hold its RedX premium tariff plan, the telecom major on Monday filed an application in the telecom tribunal to challenge the order passed by the Telecom Regulatory Authority of India (TRAI) on July 11.Vodafone Idea has moved the Telecom Disputes Settlement & Appellate Tribunal (TDSAT) as it was reportedly not happy with the order, which was passed in a hasty manner without giving the company any chance to respond on an important matter such as tariff.

•Yes Bank Ltd. is considering segregating its bad assets into a separate entity as it aims to lower the stress on balance sheet. The proposed organisation will be “professionally run, where there will be investors”, said Prashant Kumar, chief executive officer and managing director. This is subject to regulatory approvals.

•Biocon has received the Drugs Controller General of India’s (DCGI) approval to market its novel biologic drug Itolizumab in India for treatment of patients with moderate to severe Covid-19 complications, its partner Equillium is planning to carry out a clinical trial in the US, which could lead to huge spike in demand for the product. While the US has over 3 million cases, it has reported more than 132,000 deaths to date in the country.

•Larsen & Toubro has made three new board level appointments, in relation to its energy, civil infrastructure and utilities business. As part of the new appointments announced, Subramanian Sarma will be take over appointed as whole-time director and senior executive vice president (Energy).

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

BOARD MEETINGS

Company Name5 Purpose Ex-Date Company Name Purpose Ex-Date
CENTURYTEX Quarterly Results 14-Jul-20 MANAKSIA Audited Results 14-Jul-20
DDIL Audited Results 14-Jul-20 MINDTREE Quarterly Results 14-Jul-20
DELTACORP* Quarterly Results 14-Jul-20 NATPEROX Dividend;Audited Results 14-Jul-20
FCL General;Audited Results 14-Jul-20 REGENTRP Audited Results 14-Jul-20
FOMEHOT Dividend;Audited Results 14-Jul-20 RIIL Quarterly Results 14-Jul-20
GEMSI Audited Results 14-Jul-20 SUPRAP General;Increase in Authorised Capital 14-Jul-20
GUJHOTE Quarterly Results 14-Jul-20 UPASAFN General 14-Jul-20
HATHWAYB Quarterly Results 14-Jul-20 VASCONEQ General;Employees Stock Option Plan 14-Jul-20
HINDCOPPER Audited Results 14-Jul-20 VASINFRA A.G.M.;General 14-Jul-20
KHADIM Audited Results 14-Jul-20 WIPRO Quarterly Results 14-Jul-20
KHAITANLTD General;Audited Results 14-Jul-20 ZMILGFIN Audited Results 14-Jul-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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
TATAPOWER 14-Jul-20 Dividend – Rs. – 1.55 BBTC 16-Jul-20 Dividend – Rs. – 1.20
ACGL 15-Jul-20 Final Dividend – Rs. – 5.00 CLNINDIA 16-Jul-20 Special Dividend – Rs. – 140.00
PETRONET 15-Jul-20 Final Dividend – Rs. – 7.00 COROMANDEL 16-Jul-20 Final Dividend – Rs. – 12.00
SUYOG 15-Jul-20 Interim Dividend – Rs. – 0.50 GRINDWELL 16-Jul-20 Dividend – Rs. – 7.50

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


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