outlookNIFTY:

The Nifty continued its momentum and opened almost unchanged. The index moved up and then moved down till 12:00PM and then began a rally of almost 100 points till the end of the day. A significant resistance level of 11370 was touched easily, suggesting that the markets are finding it easy to go up and difficult to go down, what this really means is that there are buyers at every level. The Nifty finally closed the day at 11385, up almost 125 points. Bank and Media sector both have performed and closed higher by more than 2% whereas the Realty sector was the outperformer and closed higher by more than 4%.

We had identified a trading range between 11375 and 11100. Our idea was to go long if the Nifty crossed 11375. In the last hour of trading, the Nifty crossed 11375, enabling us to build our long position. The stop for the same is 11300

We now have 11100 as the a major support, if this breaks the trend can be said to be reversed.  Intraday traders should look to buy on dips.

BANK NIFTY:

Bank Nifty opened at 21702 without much of gap. Prices have seen a rally first then traded sideways till afternoon. Prices then saw a sharp rally till the markets closed. Private banks performed well and closed higher by more than 2%. Within the index, in terms of points HDFC Banks contributed highest while RBL Bank the lowest. Prices have seen a sharp intraday rally and recovered from the losses of the two days.

Index is finding support around 21600. A resistance is visible around 22300. A further buying opportunity will come on a break of 22300.

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TECHNICAL PICKS

COMPANY  . B/S RATIONALE
DRREDDY 4520.40 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  4490 and for the target of  4600.
LT 1004.55 BUY The stock has given a breakout from a range. The stock can be bought at CMP with a stop at 993 and for the target of 1020-1060

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
PIDILITE 1440 CE BUY 24.50 27.50 20 50 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
GODREJPROP.Aug 27 898 2.49 72.12 718250 BPCL.Aug 27 403 -1.59 23.93 22347000
ADANIENT.Aug 27 214.45 8.17 37.95 25648000 PAGEIND.Aug 27 19170 -1.29 20.89 124500
IBULHSGFIN.Aug 27 209 2.43 18.5 16538500 GAIL.Aug 27 97.3 -0.76 10.71 28627300
BANDHANBNK.Aug 27 289.7 0.35 18.49 29678400 RBLBANK.Aug 27 183.1 -0.62 5.63 23652200
GRASIM.Aug 27 664.7 6.51 16.54 8458800 POWERGRID.Aug 27 178.45 -0.53 5.07 13348000
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
SUNTV.Aug 27 434 1.45 -10.73 4929000 MOTHERSUMI.Aug 27 127.2 -0.12 -3.97 23184000
JINDALSTEL.Aug 27 225.75 0.74 -6.93 18990000 IDEA.Aug 27 8.75 -3.31 -2.63 326760000
CONCOR.Aug 27 393.95 1.68 -4.22 5926896 ESCORTS.Aug 27 1157.55 -0.04 -1.64 2566300
UJJIVAN.Aug 27 243.5 2.85 -3.64 2791800 PFC.Aug 27 93.7 0 -1.1 44125400
BATAINDIA.Aug 27 1256.15 0.8 -3.2 2097150 CANBK.Aug 27 99.45 -0.45 -0.46 10780000

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Sbi Life Insurance Compa 860.45 2.15 1170823 997282 69.45 Nifty Realty 217.6 4.04 108417
Hdfc Ltd. 1820.7 1.12 3413536 2699991 66.23 Nifty Media 1471.6 2.16 108417
Hindustan Unilever Ltd 2214.35 0.83 1339002 887640 56.92 Nifty Bank 22170.6 2.16 108417
Vedanta Limited 126.8 -0.9 26536571 12706994 54.56 Nifty Metal 2507.5 1.76 108417
Grasim Ind Ltd. 667.1 6.68 15465826 2219504 51.51 Nifty 50 11385.35 1.23 108417
The Ramco Cements 695.75 3.87 1336996 700347 50.57 Nifty Auto 7941.85 0.97 108417
Hdfc Life Insurance Comp 597.6 1.44 2225080 656471 49.16 Nifty Fmcg 31726.15 0.57 108417
Mahanagar Gas Limited 970.6 1.35 538412 407766 48.68 Nifty Energy 15634.35 0.29 108417
Bandhan Bank Limited 288 0.24 22784788 6186399 44.96 Nifty it 18270.35 0.26 108417
Icici Prudential Life In 453.85 0.13 1437852 548161 43.91 Nifty Pharma 11581.7 -0.12 108417

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR: RBI MPC Meeting Minutes  on 20th  August, 2020

•INR: FX Reserves (USD) on 21st  August, 2020

•USA: FOMC Meeting Minutes on 19th August, 2020

•USA: Crude Oil Inventories on 19th August, 2020

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NEWS UPDATES

•Indian Prime Minister Narendra Modi’s office has asked officials to speed up the process of trimming government stakes in at least four primarily state-owned banks within the current fiscal year, according to two officials familiar with the discussions. The sources said the four lenders are Punjab & Sind Bank , Bank of Maharashtra, UCO Bank and IDBI Bank, in which the Indian government owns majority stakes through direct and indirect holdings.

•Zee Entertainment Enterprises posted a consolidated net profit of Rs 29.28 crore for the quarter ended June, down 94.5 per cent from a year ago. The company had reported a net profit of Rs 529.76 in the same quarter a year ago. Zee’s total income in the period tumbled 36.6 per cent to Rs 1,338.41 crore, from Rs 2,112.03 crore a year ago. Zee said Subhash Chandra has tendered his resignation, as the non-executive director of the company, which was reluctantly accepted by the board of directors. He will now act as the Chairman Emiritus of the company from August 19. The company elevated R Gopalan as the Chairman. He was appointed as an additional director in November 2019.

•Voltas impressed with its June quarter performance, outperforming peers in an challenging quarter marred by lockdowns. Though the impact on revenues and profits was visible, the positive was its ability to expand its market leadership in the air conditioner business. Voltas year-to-date market share stood at 26.2 per cent at the end of June quarter (24.2 per cent in previous quarter). Within segments, Voltas also gained share in inverter ACs.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
COSMOFILMS Quarterly Results 19-Aug-20 POLYLINK Quarterly Results 19-Aug-20
CSBBANK Quarterly Results 19-Aug-20 RUCHISOYA A.G.M.;Quarterly Results 19-Aug-20
GMLM Quarterly Results 19-Aug-20 SAMBANDAM Quarterly Results 19-Aug-20
IIFLWAM Interim Dividend 19-Aug-20 SCC General 19-Aug-20
INDPRUD A.G.M.;Final Dividend 19-Aug-20 SHRAJOI General;Quarterly Results 19-Aug-20
IZMO A.G.M.;General;Quarterly Results 19-Aug-20 SRGHFL General 19-Aug-20
JIYAECO Quarterly Results 19-Aug-20 TAVERNIER Quarterly Results 19-Aug-20
KENNAMET Audited Results;General 19-Aug-20 TIDEWATER Quarterly Results 19-Aug-20
MONGIPA Quarterly Results 19-Aug-20 TIPSINDLTD Quarterly Results 19-Aug-20
MOONGIPASEC Quarterly Results 19-Aug-20 TRIVENIGQ Audited Results;General; Results 19-Aug-20
MOUNT Audited Results 19-Aug-20 V2RETAIL Quarterly Results 19-Aug-20
MUTHOOTFIN General;Quarterly Results 19-Aug-20 VFL Quarterly Results 19-Aug-20
PNBHOUSING General 19-Aug-20 VLL General 19-Aug-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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
EVERESTIND 19-Aug-20 Final Dividend – Rs. – 1.00 SUNPHARMA* 19-Aug-20 Final Dividend – Rs. – 1.00
GMM 19-Aug-20 Final Dividend – Rs. – 2.00 UPL 19-Aug-20 Dividend – Rs. – 6.00
GTPL 19-Aug-20 Final Dividend – Rs. – 3.00 AKZOINDIA 20-Aug-20 Dividend – Rs. – 14.00
HERITGFOOD 19-Aug-20 Dividend – Rs. – 2.50 ALANKIT 20-Aug-20 Final Dividend – Rs. – 0.20
LUMAXTECH 19-Aug-20 Final Dividend – Rs. – 1.00 ASTRAZEN 20-Aug-20 Interim Dividend – Rs. – 2.00

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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