The Nifty opened with a gap up of 70 points around 11250 but prices did not hold these higher levels and started a down move. A sharp decline of almost 100 points came within the first 30 minutes of trading and then prices moved sideways inside a narrow range for the whole day. However in the last 30 minutes of trading prices again saw a rally of almost 50 points and finally the index closed at 11247. Media and Metal have outperformed and closed higher by more than 2% whereas PSU Banks and Pharma was an underperformer. The Nifty is now moving into a zone of consolidation with support coming around 11100 and resistance at 11375.
It is too early to say that the market is topping out. All we have seen in one sharp down day. The first signs that a deeper correction is coming will emerge if the Nifty were to go below 11100.
Long term trend continues to be up. Long term momentum remains in the strong position suggesting that the current up move is intact.
A short trade which should be probably a positional trade will come if the Nifty goes below 11100. A long positional trade emerges if the Nifty goes above 11375.
Bank Nifty opened at 21906.95 with a gap up of 211 points. Prices did not sustain the higher levels and started a decline from its opening price. Prices then traded sideways for most part of the day. Private Banks have performed well and closed higher while PSU Banks have underperformed. Within the index, in terms of points Kotak Bank contributed the highest while SBI the lowest. On Friday, we have seen a sharp decline and intraday range was very large. Prices did not follow that decline yesterday and closed with minor gains. A strong support is visible around 21000 and resistance around 22500. A break from these levels may give a big move.
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|BAJAJ FINANCE||3384.80||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 between 3365-3370 with a stop at 3330 and for the target of 3410-3460.|
|DIVISLAB||3129.55||BUY||The stock has given a breakout from a range. The stock can be bought above 3138 with a stop at 3090 and for the target of 3220.|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|HDFCBANK||1030 CE||BUY||26.85||CMP||20||40||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|ESCORTS.Aug 27||1163.4||5.62||24.06||2728000||RAMCOCEM.Aug 27||667.6||-1.24||13.43||1988150|
|SUNTV.Aug 27||425.95||6.3||24.05||6732000||MRF.Aug 27||60270||-2.3||12.22||38750|
|GODREJPROP.Aug 27||876.5||1.61||14.07||432250||MGL.Aug 27||961.1||-1.23||11.01||1209600|
|NTPC.Aug 27||95.4||7.61||13.52||59599200||IBULHSGFIN.Aug 27||204.1||-0.29||7.59||14185600|
|SIEMENS.Aug 27||1233.65||1.59||13.32||2223100||BERGEPAINT.Aug 27||543.05||-1.5||6.78||4039200|
|Short Covering||Long Unwinding|
|BAJFINANCE.Aug 27||3404.9||2.29||-3.2||5466500||SRTRANSFIN.Aug 27||682.85||-0.67||-3.04||3512422|
|KOTAKBANK.Aug 27||1330.15||1.84||-3.15||8399600||MANAPPURAM.Aug 27||154.4||-0.39||-1.8||22248000|
|GAIL.Aug 27||98.2||2.24||-2.97||26669200||BHEL.Aug 27||37.15||-0.93||-1.15||55776000|
|GLENMARK.Aug 27||481.15||0.77||-2.54||6009900||AUROPHARMA.Aug 27||858||-2.65||-1.09||13817700|
|LICHSGFIN.Aug 27||267.2||1.33||-2.53||9568000||MFSL.Aug 27||523.45||-0.21||-0.88||2329600|
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TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Hdfc Ltd.||1800.55||0.49||4076960||3852136||62.77||Nifty Media||1440.45||2.9||96006|
|Torrent Power Limited||351.55||2.54||2959037||519040||52.17||Nifty Auto||7865.55||2.45||96006|
|Power Grid Corporation o||178.65||1.85||9769553||4902535||50.88||Nifty Metal||2464.25||2.43||96006|
|Hindustan Unilever Ltd||2196.05||1.02||1559579||668066||49.79||Nifty Energy||15588.45||1.26||96006|
|Dabur India Ltd.||495.55||-0.31||2880081||2326058||49.46||Nifty it||18223.6||1.11||96006|
|Sbi Life Insurance Compa||842.35||0.36||1435985||900272||47.44||Nifty Fmcg||31545.15||0.98||96006|
|Kotak Mahindra Bank Limi||1327.55||1.54||2831340||1556543||46.72||Nifty 50||11247.1||0.61||96006|
|Colgate Palmolive (india||1421.25||0.72||512659||307292||46.11||Nifty Pharma||11595.35||-0.39||96006|
|Tata Consultancy Serv Lt||2253.4||0.5||2625670||1016058||44.75||India Vix||21.31||-1.67||96006|
UPCOMING ECONOMIC DATA
|•INR: FX Reserves (USD) on 21st August, 2020||•USA: Building Permits (Jul) on 18th August, 2020
•USA: Crude Oil Inventories on 19th August, 2020
|•US-based Rosen Law Firm on Monday said it plans to investigate potential securities claims against HDFC Bank following allegations of sharing “materially misleading business information” with investors. HDFC Bank said it was not aware of any lawsuit and prima facie it looked “frivolous as we believe we have been transparent in our disclosures”. “Rosen law firm is preparing a securities lawsuit on behalf of HDFC Bank shareholders,” the global investor right law firm said in a statement on its website.
•Reliance Jio Infocomm (Jio) has informed the Supreme Court that it is not liable for Reliance Communications’ (Rcom) adjusted gross revenue (AGR) dues. The largest telco has said that AGR dues arise out of revenue from customers and sharing spectrum does not make the telco liable for the contested statutory dues.
•Fortis Healthcare has said that the company board has given approval to change the name of the firm and its subsidiaries to ‘Parkway’ – a brand that Malaysian health care major IHH owns. SRL, the diagnostic arm of the hospital chain, will also look for a new brand name and logo.
•Oil slipped further below $45 a barrel on Friday, giving up this week’s gains, under pressure from doubts about demand recovery due to the novel coronavirus pandemic and rising supply. Two prominent forecasters, the International Energy Agency and the Organization of the Petroleum Exporting Countries, trimmed their 2020 oil demand forecasts this week. OPEC and its allies are increasing output this month.
Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|CHEMOPH||General;Quarterly Results||18-Aug-20||OSEASPR||Quarterly Results||18-Aug-20|
|DYNAVSN||Quarterly Results||18-Aug-20||PML||Quarterly Results||18-Aug-20|
|EASTBUILD||A.G.M.;Quarterly Results||18-Aug-20||PRIMESECU||Quarterly Results||18-Aug-20|
|EUROASIA||Audited Results;Quarterly Results||18-Aug-20||SPMLINFRA||Audited Results;Quarterly Results||18-Aug-20|
|GTLINFRA||Quarterly Results||18-Aug-20||SUNILAGR||Quarterly Results||18-Aug-20|
|HAL||Audited Results||18-Aug-20||UFLEX||Quarterly Results||18-Aug-20|
|ICIL||Quarterly Results||18-Aug-20||UNIABEXAL||Quarterly Results||18-Aug-20|
|KNRCON||Quarterly Results||18-Aug-20||USGTECH||A.G.M.;General;Quarterly Results||18-Aug-20|
|NOL||A.G.M.;Quarterly Results||18-Aug-20||VIRPOLY||Quarterly Results||18-Aug-20|
|OMNITEX||A.G.M.;General;Quarterly Results||18-Aug-20||ZEEL||Quarterly Results||18-Aug-20|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|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|
|UBL||18-Aug-20||Final Dividend – Rs. – 2.50||LUMAXTECH||19-Aug-20||Final Dividend – Rs. – 1.00|
|ADCINDIA||19-Aug-20||Dividend – Rs. – 2.00||ORIENTPPR||19-Aug-20||Dividend – Rs. – 0.50|
|BDH||19-Aug-20||Final Dividend – Rs. – 2.50||RITES||19-Aug-20||Final Dividend – Rs. – 6.00|
|COCKERILL||19-Aug-20||Final Dividend – Rs. – 5.00||SINCLAIR||19-Aug-20||Final Dividend – Rs. – 0.80|
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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