NIFTY:
The Nifty opened higher from Thursdays close. It was a tale of two halves. In the first half the index continued trading narrow but in the second half prices have seen a sharp intraday fall of more than 200 points. Prices have seen a mild recovery in the last hour of trading and finally closed at 11178.40 down by 122 points. The Bank Nifty underperformed and closed lower by more than 2.40%, whereas Pharma and Metal outperformed on Friday. We gave a set up explaining that the market is in a narrow range and we should be buyers above 11380 and sellers below 11240. The Nifty fell dramatically after reaching its resistance of 11380 breaking all minor supports and making a low of 11111.45. Any short positions taken should be held with a stop at 11300. The market does appear to be ready to begin some kind of correction or consolidation. We have to patiently wait for the index to show its path.
BANK NIFTY:
Bank Nifty opened at 22333.40 with a gap up of 108 points. Prices did not sustain the higher levels and started decline from its opening price. That decline continued for the whole day and the index closed at 21679 with a loss of 530 points. Private and PSU banks both have contributed in the decline and closed lower by more than 2%. Within the index in terms of points, HDFC Bank contributed highest on downside followed by Axis Bank.
We were expecting a sharp move in the index. That move came on Friday on downside and index has seen an intraday decline of more than 800 points. A strong support is visible around 21000 in the index. It is possible that we may see a move towards this support.
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TECHNICAL PICKS
| COMPANY . | B/S | RATIONALE | |
| FEDERAL BANK | 52.60 | 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 at CMP with a stop at 52 and for the target of 54.50. |
| IOC | 84.80 | SELL | The stock has broken down from a range. The stock can be sold between 85-85.20 with a stop loss at 86.50 and for the target of 83. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| HINDUNILVR | 2160 CE | BUY | 55.70 | CMP | 43 | 80 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| CADILAHC.Aug 27 | 397.15 | 2.66 | 10.48 | 9559000 | EICHERMOT.Aug 27 | 20196.9 | -6.91 | 23.68 | 308035 | |
| LUPIN.Aug 27 | 1021.2 | 9.6 | 5.75 | 8128550 | MRF.Aug 27 | 61685.85 | -3.91 | 10.82 | 34530 | |
| TATASTEEL.Aug 27 | 420 | 1.52 | 4.65 | 17056100 | POWERGRID.Aug 27 | 174.4 | -2.24 | 7.62 | 13616000 | |
| DRREDDY.Aug 27 | 4537.7 | 0.3 | 3.75 | 3303500 | UJJIVAN.Aug 27 | 237.5 | -0.02 | 7.15 | 2802800 | |
| JSWSTEEL.Aug 27 | 265.45 | 2.43 | 3.69 | 48335400 | UBL.Aug 27 | 964.4 | -2.36 | 5.79 | 1623300 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| ASHOKLEY.Aug 27 | 61.95 | 1.14 | -18.66 | 48897000 | RAMCOCEM.Aug 27 | 676 | -4.34 | -21.72 | 1752700 | |
| CONCOR.Aug 27 | 379.35 | 0.3 | -12.99 | 6112893 | BALKRISIND.Aug 27 | 1312.35 | -5.39 | -17.68 | 1866400 | |
| GLENMARK.Aug 27 | 477.45 | 2.63 | -11.58 | 6166300 | BEL.Aug 27 | 112.85 | -1.4 | -14.9 | 21667600 | |
| MUTHOOTFIN.Aug 27 | 1211.4 | 2.7 | -9.1 | 4262250 | BHEL.Aug 27 | 37.5 | -4.09 | -14.81 | 56427000 | |
| SHREECEM.Aug 27 | 21517.45 | 0.78 | -9.04 | 136300 | INDIGO.Aug 27 | 1131.75 | -2.46 | -13.67 | 2782500 | |
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TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Icici Prudential Life In | 458.95 | -2.5 | 1793998 | 1144898 | 64.02 | India Vix | 21.67 | 5.35 | 299986509 | |
| Nestleind | 16354.7 | -0.73 | 59434 | 39924 | 60.21 | Nifty Pharma | 11640.4 | 1.42 | 55917341 | |
| Hdfc Ltd. | 1791.7 | -0.73 | 6136766 | 2218181 | 58.84 | Nifty Metal | 2405.8 | 1.06 | 270067589 | |
| Hindustan Unilever Ltd | 2173.9 | -1.13 | 1341691 | 827804 | 56.96 | Nifty it | 18022.65 | -0.47 | 1212581 | |
| Hdfc Life Insurance Comp | 587.75 | -2 | 3151499 | 1160200 | 53.6 | Nifty Energy | 15394.95 | -0.94 | 3248711 | |
| Power Grid Corporation o | 175.4 | -1.87 | 9636131 | 3078646 | 51.43 | Nifty 50 | 11178.4 | -1.08 | 57820892 | |
| Sbi Life Insurance Compa | 839.3 | -2.58 | 1897747 | 332305 | 49.87 | Nifty Media | 1399.85 | -1.29 | 459739432 | |
| Pidilite Industries Ltd | 1371.6 | -0.62 | 1173257 | 405127 | 49.33 | Nifty Fmcg | 31237.95 | -1.36 | 772677 | |
| Hdfc Bank Ltd. | 1034.45 | -2.32 | 10462350 | 4863570 | 48.9 | Nifty Bank | 21679.4 | -2.33 | 29608012 | |
| Marico Limited | 366.3 | 0.05 | 2196454 | 1251920 | 48.61 | Nifty Auto | 7677.65 | -2.56 | 83690310 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| •INR: FX Reserves (USD) on 21st August, 2020 | •USA: Building Permits (Jul) on 18th August, 2020
•USA: Crude Oil Inventories on 19th August, 2020 |
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NEWS UPDATES
| •Glenmark Pharmaceuticals posted an over two-fold increase in consolidated net profit at Rs 254.04 crore for the quarter ended June. The company had reported a net profit of Rs 109.28 crore for the April-June period of 2019-20. Consolidated revenue stood at Rs 2,344.78 crore, as compared to Rs 2,322.87 crore in the year-ago period.
•Hindalco Industries on Friday posted a consolidated loss of Rs 709 crore for the quarter ended June 2020. The company had posted a profit after tax (PAT) of 1,063 crore in the April-June quarter a year ago. It said that .The Aditya Birla Group firm in a statement said that “on account of certain special items, including charitable contributions towards Covid relief, ex-gratia paid to employees for their contribution during Covid, and Aleris acquisition costs, the reported PAT was impacted”. •A new twist emerged during the adjusted gross revenue case hearing at the Supreme Court on Friday, with the court inquiring if companies that are using the spectrum of insolvent telecom companies can be asked to pay AGR dues. The bench asked whether Reliance Jio Infocomm Ltd.—which has a spectrum sharing contract with the insolvent company since 2016—can be asked to pay RComm’s AGR dues. •India’s trade balance turned to a deficit in July after a rare surplus reported in June, as imports of gold and other commodities started to pick-up. The trade deficit for July stood at $4.83 billion in July 2020, compared to a trade surplus of $0.79 billion in June. Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| BHARAT | A.G.M.;Quarterly Results | 17-Aug-20 | OPTIFIN | Quarterly Results | 17-Aug-20 |
| BRITANNIA | Bonus issue;Interim Dividend | 17-Aug-20 | ORIENTPPR | General;Quarterly Results | 17-Aug-20 |
| CANFINHOME | Quarterly Results | 17-Aug-20 | PETRONET | Quarterly Results | 17-Aug-20 |
| HINDMOTORS | Quarterly Results | 17-Aug-20 | PRANAVSP | Quarterly Results | 17-Aug-20 |
| HIRECT | Quarterly Results | 17-Aug-20 | SAINIK | A.G.M.;General;Quarterly Results | 17-Aug-20 |
| HLEGLAS | Quarterly Results | 17-Aug-20 | SHIVAMILLS | Quarterly Results | 17-Aug-20 |
| INDIANCARD | Increase in Auth. Cap.;Pref.Issue | 17-Aug-20 | SICAL | Audited Results | 17-Aug-20 |
| INDOCITY | General | 17-Aug-20 | SPSINT | Quarterly Results | 17-Aug-20 |
| INOVSYNTH | Quarterly Results | 17-Aug-20 | SRECR | Quarterly Results | 17-Aug-20 |
| KALYANIFRG | Dividend;Final Dividend;General | 17-Aug-20 | SUVENPHAR | Bonus issue;ESOP; Results | 17-Aug-20 |
| KRANTI | Increase in Authorised Capital | 17-Aug-20 | SWADPOL | Quarterly Results | 17-Aug-20 |
| LUXIND | Quarterly Results | 17-Aug-20 | VIRGOGLOB | Quarterly Results;Reduction of Capital | 17-Aug-20 |
| MAXIMUS | Quarterly Results | 17-Aug-20 | ZPPOLYSA | Quarterly Results | 17-Aug-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| BIRLACORPN | 17-Aug-20 | Dividend – Rs. – 7.50 | UBL | 18-Aug-20 | Final Dividend – Rs. – 2.50 |
| CLNINDIA | 17-Aug-20 | Final Dividend – Rs. – 11.00 | ADCINDIA | 19-Aug-20 | Dividend – Rs. – 2.00 |
| CUMMINSIND | 17-Aug-20 | Final Dividend – Rs. – 7.00 | BDH | 19-Aug-20 | Final Dividend – Rs. – 2.50 |
| NATPEROX | 17-Aug-20 | Dividend – Rs. – 12.50 | COCKERILL | 19-Aug-20 | Final Dividend – Rs. – 5.00 |
| CANFINHOME | 18-Aug-20 | Dividend – Rs. – 2.00 | EVERESTIND | 19-Aug-20 | Final Dividend – Rs. – 1.00 |
| EQUITAS | 18-Aug-20 | Interim Dividend – Rs. – 1.00 | GMM | 19-Aug-20 | Final Dividend – Rs. – 2.00 |
| IGPL | 18-Aug-20 | Final Dividend – Rs. – 2.00 | GTPL | 19-Aug-20 | Final Dividend – Rs. – 3.00 |
| PRESSMN | 18-Aug-20 | Final Dividend – Rs. – 1.00 | HERITGFOOD | 19-Aug-20 | Dividend – Rs. – 2.50 |
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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