NIFTY:
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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