NIFTY:
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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