outlookNIFTY:

The Nifty had a nothing day, closing almost where it closed on the previous day. The Nifty closed higher by 23 points, The index opened higher with a gap up of more than 50 points. Prices have traded very choppy and narrow. The opening gap was somehow maintained, as the Nifty closed near the open. The market trade in a narrow range with yesterday being the narrowest range in the last 7 days. The high of 11460.35 and low of 11394.10 should act as breakout levels for today. The media sector has seen a handsome rally by closing 5% higher. Zee has closed up by almost 15%.

A large move is imminent soon enough. However may not come today. The last time the Nifty was in a narrow range was on August 10 and then it continued with four such narrow days before a move on the downside came.

Daybefore we entered a long position above 11375. We recommend holding this position for the target of 11480 and moving the stop of 11350. Since the trend remains up, we should continue to buy on dips.

BANK NIFTY:

Bank Nifty opened at 22315.40 with a gap up of 156 points. The index traded very narrow and closed at 22285.90 with a gain of more than 120 points. PSU have performed well and closed higher by more than 2%. Within the index, in terms of points, ICICI Bank contributed highest while Kotak Bank the lowest. The index opened with a gap but traded very choppy and sideways for the whole day. Prices have seen multiple up’s and down’s.

Although the Index broke out from its range above 22300. A follow through of this breakout will be confirmed today. We should look to buy as long as prices are above 21600.

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TECHNICAL PICKS

COMPANY  . B/S RATIONALE
UPL 499.40 BUY The stock has given a breakout from a range. The stock can be bought at CMP with a stop at 495 and for the target of  515
UJJIVAN FINANCE 247.70 BUY The stock has given a breakout from a range. The stock can be bought at CMP with a stop at 243 and for the target of  255

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
BPCL 400 CE BUY 17.80 12 36 50 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
CANBK.Aug 27 106.1 3.61 41.48 14565000 AMARAJABAT.Aug 27 736.5 -3.93 74.61 2015000
EQUITAS.Aug 27 55.05 4.06 36.72 17601600 GODREJPROP.Aug 27 894.05 -0.2 14.7 821600
CENTURYTEX.Aug 27 335.1 5.74 25.47 2979200 HCLTECH.Aug 27 713.6 -0.47 13.83 16293200
LICHSGFIN.Aug 27 279.6 3.79 23.44 11766000 APOLLOHOSP.Aug 27 1695.4 -0.48 11.75 965500
M&MFIN.Aug 27 138 1.62 16.78 19840884 EXIDEIND.Aug 27 167 -1.21 9.79 11912400
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
BANKBARODA.Aug 27 47.6 1.93 -12.27 47765000 CONCOR.Aug 27 393.5 -0.14 -6.33 5181345
ZEEL.Aug 27 198.25 13.55 -12.04 42429000 IBULHSGFIN.Aug 27 205.05 -1.77 -6.27 15190000
ADANIENT.Aug 27 242.15 13.31 -7.46 12100000 TATASTEEL.Aug 27 433.75 -0.5 -2.65 16019100
SRF.Aug 27 4300 0.01 -5.81 708750 MFSL.Aug 27 542.45 -0.69 -1.82 2238600
MANAPPURAM.Aug 27 160.7 2.32 -4.01 20082000 ACC.Aug 27 1433.5 -0.11 -1.39 2557500

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hdfc Ltd. 1827.95 0.4 2934730 1913561 56.06 Nifty Media 1550.5 5.36 95640
Dabur India Ltd. 494.2 -0.56 3390446 1818133 55.44 Nifty Bank 22285.9 0.52 95640
Hcl Technologies Ltd. 709.85 -0.64 4858027 2002825 55.11 Nifty Energy 15712 0.5 95640
Hdfc Life Insurance Comp 603.45 0.98 2345111 1215130 54.61 Nifty Metal 2513.15 0.23 95640
Icici Prudential Life In 454.55 0.15 1728150 778086 54.11 Nifty 50 11408.4 0.2 95640
Nestleind 16345.75 -1.26 125007 55672 53.32 Nifty Auto 7941.35 -0.01 95640
Sbi Life Insurance Compa 863.65 0.37 1332731 611213 52.2 Nifty it 18210.85 -0.33 95640
Hindustan Unilever Ltd 2193.6 -0.94 1585132 670289 50.06 Nifty Pharma 11537.9 -0.38 95640
Bata India Ltd. 1271.25 1.17 1004727 419904 48.09 Nifty Fmcg 31586.05 -0.44 95640
Page Industries Limited 18920.35 -0.95 50237 38884 46.9 India Vix 19.96 -2.31 95640

UPCOMING ECONOMIC DATA

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

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

•USA: Philadelphia Fed Manufacturing Index (Aug) on 20th August, 2020

•USA: Initial Jobless Claims on 20th August, 2020

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NEWS UPDATES

•India’s domestic pharmaceuticals market is expected to grow by 12 to 14 per cent in the next three years while the export market may grow by 8 to 14 per cent, according to a new report by professional services firm KPMG. Backed by a $41 billion pharma industry, the country ranks as the third-largest market globally by volume and 13 largest by value. The epidemiological transition from communicable diseases to non communicable diseases in the country is driving the pharma market.

•The department of telecommunications (DoT) has objected to the resolution plan of Reliance Communications, Reliance Telecom and Reliance Infratel in the National Company Law Tribunal (NCLT). DoT, as an operational creditor, will not get any proceeds out of the resolution of the companies, according to the plan. The NCLT has adjourned the hearing on the resolution plan on the companies till August 21. The DoT will file written submissions by then.

•The Centre on Wednesday cleared award of airports at Jaipur, Thiruvananthapuram and Guwahati to the Adani Group that won these in an auction last year. Union minister Prakash Javadekar told reporters that the Airport Authority of India (AAI) will get an upfront amount of Rs. 1,070 crore from handing over the airports to the private developer.

•Non-bank lender L&T Finance Holdings Ltd plans to raise funds through a rights issue, said three people aware of the development. The company is yet to formally appoint advisors to start work on this fundraise, he added. L&T Finance could look to raise around Rs.2,000-3,000 crore through the rights issue.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AARTIDRUGS Bonus issue 20-Aug-20 CENLUB A.G.M.;General;Quarterly Results 20-Aug-20
ACCELYA Audited Results;Final Dividend 20-Aug-20 CGVAK General;Quarterly Results 20-Aug-20
AIML Audited Results 20-Aug-20 CLIOINFO Quarterly Results 20-Aug-20
AMARNATH General;Quarterly Results 20-Aug-20 COSYN Quarterly Results 20-Aug-20
AMBALALSA Quarterly Results 20-Aug-20 CRANEX Quarterly Results 20-Aug-20
ASIFOOD General;Quarterly Results 20-Aug-20 DENISCHEM Quarterly Results 20-Aug-20
ASIIL Quarterly Results 20-Aug-20 ELECTHERM Quarterly Results 20-Aug-20
BEMHY Quarterly Results 20-Aug-20 ETT Quarterly Results 20-Aug-20
BHAGCHEM Quarterly Results 20-Aug-20 EXPLEOSOL Quarterly Results 20-Aug-20
BHATIA A.G.M.;General 20-Aug-20 FOODSIN A.G.M.;Quarterly Results 20-Aug-20
BITS Quarterly Results 20-Aug-20 GOKAKTEX Quarterly Results 20-Aug-20
BLISSGVS Quarterly Results 20-Aug-20 GOLCA Quarterly Results 20-Aug-20
BPLPHARMA Quarterly Results 20-Aug-20 GOLDTECH A.G.M.;General 20-Aug-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
AKZOINDIA 20-Aug-20 Dividend – Rs. – 14.00 GNFC 20-Aug-20 Dividend – Rs. – 5.00
ALANKIT 20-Aug-20 Final Dividend – Rs. – 0.20 LUMAXIND 20-Aug-20 Final Dividend – Rs. – 6.00
ASTRAZEN 20-Aug-20 Interim Dividend – Rs. – 2.00 SKYIND 20-Aug-20 Final Dividend – Rs. – 0.50
AVANTI 20-Aug-20 Final Dividend – Rs. – 0.10 SRD 20-Aug-20 Final Dividend – Rs. – 0.10
BALKRISIND 20-Aug-20 Interim Dividend – Rs. – 3.00 STANROS 20-Aug-20 Dividend – Rs. – 6.00
BHAGIL 20-Aug-20 Final Dividend – Rs. – 3.00 TATACOMM 20-Aug-20 Final Dividend – Rs. – 4.00
ESTER 20-Aug-20 Dividend – Rs. – 2.50 TATAMETALI 20-Aug-20 Dividend – Rs. – 2.50
FDC 20-Aug-20 Buy Back of Shares TIDEWATER 20-Aug-20 Final Dividend – Rs. – 140.00

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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