NIFTY:
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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