NIFTY:
The US markets which were trading at new highs daybefore suddenly turned weak and closed with a loss of almost 1%. This decline affected all Asian markets that opened yesterday. The Nifty also opened lower and from the morning itself began a slide that took down all the way to 10600. The index closed at 10607 down almost 195 points. Today was a trend on the downside and there was one directional move. The Nifty has broken a significant support at 10719 which was identified yesterday. Support now exists at 10562, below which the market may be willing to go down all the to 10321. We had explained that a short sell is possible if the Nifty broke this level and we had given a target of 10562, the Nifty made a low of almost 10562. Given yesterdays sharp decline, we should wait before taking a long position. It is possible that markets may be getting ready for a deeper correction.
For today the trade is to go short below 10562 for the target of 10321.
BANK NIFTY:
Bank Nifty opened at 21877.60 with a gap down of 236 points. The index started a down move just after the open and saw a downside move of almost 700 points. Price then traded sideways for the rest of the day and finally closed at 21392 with a loss of 697 points. PSU and Private banks both have performed almost same today and closed lower by more than 3%. Within the index, in terms of points, Axis Bank contributed lowest followed by HDFC Bank. Decline continued in Bank Nifty and the index closed lower for the third consecutive day. Prices are trading near the support levels of a trading range inside 21000-22500. Trend is now sideways and it will be on downside if prices closed below 21000. A trading opportunity will come depending on how prices are moving around 21000 support.
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TECHNICAL PICKS
| COMPANY . | CMP | B/S | RATIONALE |
| TORNTPHARMA | 2421.30 | BUY | The stock has been consolidating in a narrow range and given an upwards breakout. The stock can be bought between 2410-2415 with a stop loss at 2395 and for the target of 2450 |
| ZEEL | 166.30 | SELL | Intermediate and short term trends are down in this stock. The stock has given a breakdown from a large range. The stock can be sold below 164 with a stop at 167.50 for the target of 157. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| BERGEPAINT | 500 CE | BUY | 19.30 | CMP | 17.50 | 24 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| BIOCON.Jul 30 | 438.35 | 5.46 | 7.22 | 15916000 | RBLBANK.Jul 30 | 164.55 | -7.74 | 28.11 | 26254800 | |
| SUNTV.Jul 30 | 392.95 | 0.24 | 6.78 | 6051000 | RAMCOCEM.Jul 30 | 652.05 | -2.04 | 27.02 | 1390600 | |
| MGL.Jul 30 | 987.05 | 1.67 | 5.66 | 1310400 | MINDTREE.Jul 30 | 972 | -4.05 | 20.2 | 2052000 | |
| APOLLOHOSP.Jul 30 | 1443 | 0.49 | 4.47 | 922500 | CANBK.Jul 30 | 100.85 | -2.47 | 17.99 | 13870000 | |
| AUROPHARMA.Jul 30 | 813.15 | 0.07 | 2.9 | 13217100 | ZEEL.Jul 30 | 165.65 | -4.72 | 16.14 | 21306000 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| JUSTDIAL.Jul 30 | 373.65 | 0.63 | -3.98 | 1282400 | ESCORTS.Jul 30 | 1090 | -3.74 | -15.58 | 2695000 | |
| TATACHEM.Jul 30 | 306.95 | 2.47 | -2.6 | 3902000 | IBULHSGFIN.Jul 30 | 221.6 | -7.28 | -8.26 | 10983300 | |
| JUBLFOOD.Jul 30 | 1658.9 | 1.04 | -1.07 | 2166500 | SAIL.Jul 30 | 34.55 | -3.63 | -6.45 | 42731000 | |
| TORNTPHARM.Jul 30 | 2436.8 | 3 | -0.17 | 1444000 | MFSL.Jul 30 | 551.4 | -1.98 | -6.4 | 1444300 | |
| BAJFINANCE.Jul 30 | 3193.95 | -1.36 | -4.43 | 6581000 | ||||||
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TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Godrej Cons Products Ltd | 694.6 | -0.07 | 663400 | 885904 | 59.61 | India Vix | 26.64 | 5.5 | 96054 | |
| Hindustan Unilever Ltd | 2234.75 | -1.35 | 2403257 | 2463365 | 54.06 | Nifty Pharma | 10155.05 | 0.48 | 96054 | |
| Petronet Lng Limited | 266 | 0.24 | 3192812 | 1178276 | 49.83 | Nifty Media | 1366.55 | -0.72 | 96054 | |
| Ultratech Cement Limited | 3770.9 | -0.45 | 351720 | 135239 | 44.64 | Nifty Fmcg | 30932.85 | -0.9 | 96054 | |
| Tata Consumer Products l | 419.35 | -1.2 | 3232206 | 1134142 | 44.43 | Nifty it | 15640.55 | -1.13 | 96054 | |
| Hdfc Bank Ltd. | 1058.85 | -1.98 | 13306511 | 6602916 | 44.13 | Nifty Realty | 199.7 | -1.53 | 96054 | |
| Balkrishna Ind. Ltd | 1251.75 | -2.01 | 638868 | 443238 | 43.71 | Nifty 50 | 10607.35 | -1.81 | 96054 | |
| Cadila Healthcare Ltd. | 353.8 | -1.2 | 2596036 | 813342 | 43.52 | Nifty Auto | 6916 | -2.38 | 96054 | |
| Icici Bank Ltd. | 345.55 | -2.28 | 34033233 | 13678602 | 42.24 | Nifty Metal | 2052.45 | -2.5 | 96054 | |
| Dr. Reddys Lab Ltd | 3983.15 | 2.14 | 1208945 | 225803 | 42.15 | Nifty Bank | 21392.2 | -3.16 | 96054 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| •INR: Trade Balance on 15th July, 2020
•INR: Bank Loan Growth on 17th July, 2020 |
•USA: Industrial Production (YoY) (Jun) on 15th July, 2020
•USA: Crude Oil Inventories on 15th July, 2020 |
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NEWS UPDATES
| •Google is reportedly in advanced talks to invest $4 billion in Jio Platforms, the digital services arm of Reliance Industries Limited (RIL). The fresh funding bid comes just two days after billionaire Mukesh Ambani-led Jio Platforms raised Rs 730 crore in a investment round by Qualcomm Ventures, the investment arm of Qualcomm Incorporated.
•State Bank of India (SBI) will institute work-from-anywhere infrastructure and expects to save Rs 1,000 crore from this measure, Chairman Rajnish Kumar said. Speaking to shareholders at the bank’s 65th annual general meeting on Tuesday, he said the focus going forward will be on cost reduction, rationalization and reskilling of workforce, improving staff productivity and redeployment of workforce from admin offices to sales roles. •Mindtree, now a Larsen & Toubro group company, on Tuesday reported a significant jump of 129.8 per cent in its consolidated net profit at Rs 213 crore for the first quarter ended June 30, 2020, despite the global headwinds due to COVID-19 pandemic. The profit was attributed to healthy order book of $391 million and EBITDA (Earnings before Interest, Taxes, Depreciation, and Amortisation) of 18.2 per cent during April-June quarter of 2020 •With the automobile industry growing through the longest sales slump, made worse by coronavirus pandemic, auto industry body SIAM President Rajan Wadhera on Tuesday said he does not see any case for investment in the auto sector at present. Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name5 | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ABCGAS | General;Quarterly Results | 15-Jul-20 | DJSSS | Audited Results | 15-Jul-20 |
| ADVMULT | General;Quarterly Results | 15-Jul-20 | EMERALD | Audited Results | 15-Jul-20 |
| AMFL | Audited Results | 15-Jul-20 | FEDERALBNK | Quarterly Results | 15-Jul-20 |
| AMRAFIN | Half Yearly Results | 15-Jul-20 | FILTRA | Audited Results | 15-Jul-20 |
| ANDREWYU | Audited Results;Final Dividend | 15-Jul-20 | GIRDSGA | Audited Results | 15-Jul-20 |
| ARIHANTINS | Audited Results | 15-Jul-20 | GOODLUCK | Audited Results;Final Dividend | 15-Jul-20 |
| AVONMERC | Quarterly Results | 15-Jul-20 | GTPL | Quarterly Results | 15-Jul-20 |
| BANDHANBNK | Quarterly Results | 15-Jul-20 | INDOCRED | Audited Results | 15-Jul-20 |
| BARTRONICS | Audited Results | 15-Jul-20 | INFY | Audited Results | 15-Jul-20 |
| CATECH | Audited Results | 15-Jul-20 | INVENTURE | Audited Results;General | 15-Jul-20 |
| CROWNTOURS | Audited Results | 15-Jul-20 | JAYSYN | Audited Results;Dividend | 15-Jul-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| 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 |
| WENDT | 15-Jul-20 | Final Dividend – Rs. – 25.00 | IRB | 16-Jul-20 | Final Dividend – Rs. – 5.00 |
| ABB | 16-Jul-20 | Dividend – Rs. – 4.80 | LAXMIMACH | 16-Jul-20 | Dividend – Rs. – 10.00 |
| ASTEC | 16-Jul-20 | Final Dividend – Rs. – 1.50 | M&M | 16-Jul-20 | Dividend – Rs. – 2.35 |
| BBTC | 16-Jul-20 | Dividend – Rs. – 1.20 | PEL | 16-Jul-20 | Final Dividend – Rs. – 14.00 |
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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