The Nifty opened with a gap up and then moved sideways maintaining the benefits of the gap. Towards the last hour of the day, the index started a handsome rally which led it to gain more than 100 points in half and hour and closed above 10900. The market on Friday was completely one sided, all the way up. On Friday, we mentioned that we should go long on Nifty if it crosses 10800; the Nifty moved above 10800 and traders that are long now should move their stops to 10800 and for the target of 11050.
The long term trend continues to be up. Momentum is at maximum strength which suggests strong upward movement. The intermediate trend continues to be up. This is the trend that traders should be following.
Intraday traders should look to buy on dips.
Bank Nifty opened at 21608.5 with a gap up of 66 points. The index traded sideways after opening higher. A sharp rally came in the last hour of trading which helps index to close near the day high with a gain of about 500 points. PSU and Private banks both have performed well and closed higher by more than 1.50%. Within the index, in terms of points, HDFC Bank contributed the highest while Axis Bank the lowest. Private banks are outperforming the index.
Bank Nifty continued its momentum. A broader range for the index is between 21000-22500. Prices have been trading inside these 1500 points of a range for the past month. Earlier an attempt to break this range did not last long. Since the range is large enough, intraday traders should look to buy above 22200 or buy on a dip towards 21800.
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|SBILIFE||875.20||BUY||The stock has been consolidating in a narrow range for a few days and has now given a breakout upwards. The stock can be bought at CMP with a stop loss at 863 and for the target of 900.|
|MOTHERSON SUMI||93.35||SELL||The stock has broken down from a range. The stock can be sold below 92.60 with a stop at 93.10 and for the target of 91.20.|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|MGL||980 CE||BUY||44.65||CMP||42||50||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|CONCOR.Jul 30||450.55||4.43||32.87||7102272||TORNTPHARM.Jul 30||2403.35||-0.44||17.76||1631500|
|VOLTAS.Jul 30||578.7||5.12||20.21||3604000||PVR.Jul 30||1025.5||-0.52||5.54||1456653|
|SAIL.Jul 30||35.55||3.49||16.52||43016000||MANAPPURAM.Jul 30||161.1||-0.25||3.81||18324000|
|BHEL.Jul 30||38.5||3.91||16.08||53046000||EQUITAS.Jul 30||55.3||-0.09||3.62||10237200|
|ACC.Jul 30||1320.75||1.2||13.02||2287500||BRITANNIA.Jul 30||3793.45||-1.92||2.76||2071800|
|Short Covering||Long Unwinding|
|MUTHOOTFIN.Jul 30||1203.15||5.95||-13.89||3792750||GODREJPROP.Jul 30||884.15||-0.34||-11.92||345800|
|CIPLA.Jul 30||689.1||2.05||-9.78||12216100||INFY.Jul 30||904.8||-0.36||-4.62||48426000|
|HINDPETRO.Jul 30||224.25||6.86||-9.28||23630400||HINDALCO.Jul 30||162.9||-1.93||-3.43||34094700|
|MINDTREE.Jul 30||1018.35||1.33||-9.07||1420000||BHARATFORG.Jul 30||378.4||-0.53||-3.32||6118500|
|EXIDEIND.Jul 30||159.95||2.8||-8.77||9961200||TCS.Jul 30||2209.1||-1.14||-2.84||8943600|
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TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Container Corp Of India||448.65||4.36||5519237||1061649||63.69||Nifty Energy||14942.25||4.2||5597247|
|Divi S Laboratories Limi||2263.4||2.67||1233698||503658||60.41||Nifty Auto||7137.3||1.73||82429433|
|Colgate Palmolive (india||1426||2.07||638924||741625||57.1||Nifty Bank||21966.8||1.71||26786497|
|Tata Consumer Products l||423||3.1||2740799||1129391||55.72||Nifty Metal||2103||1.56||278570192|
|Hindustan Unilever Ltd||2334.55||2.04||3088773||1318813||52.86||Nifty Media||1336.6||1.15||439662253|
|Bharat Electronics Ltd||98||3.76||10158409||5966883||48.45||Nifty Fmcg||31439.3||0.82||1256880|
|Godrej Cons Products Ltd||700.55||0.89||803306||321527||48.23||Nifty it||16821.35||-0.62||3937233|
|Hdfc Ltd.||1805.85||1.01||4240987||1932130||45.68||India Vix||24.16||-4.73||236607713|
UPCOMING ECONOMIC DATA
|•INR: Infrastructure Output (YoY) (Jun) on 31st July, 2020||•USA: Existing Home Sales (Jun) on 22nd July, 2020
•USA: Crude Oil Inventories on 22nd July, 2020
|•Net profit of ICICI Lombard General Insurance for the quarter ended June rose 28.5 per cent to Rs 398 crore from a year ago. The gross direct premium income (GDPI) of the company stood at Rs 3,302 crore in the June quarter, down 5.3 per cent from Rs 3,487 crore a year ago. Excluding the crop segment, GDPI of the company decreased by 6.2 per cent to Rs 3,274 crore in the quarter ended June, in line with the degrowth across industry, mainly hit by the Covid-19 pandemic.
•Reliance Industries (RIL, is plowing billions into Indian debt funds after receiving cash from stake sales and a rights issue, according to people with knowledge of the matter. The monies have been deployed into ultra-short and money-market funds, and others focused on debt with an average of three-to-five year maturities, according to fund managers who asked not to be identified in discussing investment details.
•State-owned Life Insurance Corporation (LIC) is expecting to post steady growth in new business premium (NBP) by the end of the December quarter (Q3FY21). The first quarter of FY21 was a rough one for life insures because NBP contracted 18.64 per cent to Rs 49,335 crore against Rs 60,637 crore in Q1FY20 due the lockdown.
•HDFC Bank on Saturday posted a 19.58 per cent year-on-year rise in net profit at Rs 6,658.62 crore for the quarter ended June 30. Net interest income of the lender grew 17.80 per cent YoY to Rs 15,665.40 crore in Q1FY21. Asset quality of the lender deteriorated marginally as Gross NPA stood at 1.36 per cent in Q1FY21 against 1.26 per cent in Q4FY20.
Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint
|Company Name5||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|ACC||Quarterly Results||20-Jul-20||LPDC||Audited Results;Dividend||20-Jul-20|
|BOMDYEING||Quarterly Results||20-Jul-20||LUHARUKA||Audited Results||20-Jul-20|
|COMFINCAP||Audited Results||20-Jul-20||MAHSCOOTER||Quarterly Results||20-Jul-20|
|DEN||Quarterly Results||20-Jul-20||MHEL||Audited Results;Half Yearly Results||20-Jul-20|
|DHAMPURE||Audited Results||20-Jul-20||MODISNME||Audited Results||20-Jul-20|
|IFINSEC||Quarterly Results||20-Jul-20||PRISMFN||Audited Results||20-Jul-20|
|JCTLTD||Audited Results||20-Jul-20||SBICARD||General;Quarterly Results||20-Jul-20|
|LAFFANSQ||Audited Results||20-Jul-20||STCINDIA||Audited Results||20-Jul-20|
|LORDSCHLO||Audited Results||20-Jul-20||SWARAJENG||Quarterly Results||20-Jul-20|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|NEWGEN||20-Jul-20||Final Dividend – Rs. – 2.00||BASF||22-Jul-20||Dividend – Rs. – 3.00|
|ORIENTHOT||20-Jul-20||Final Dividend – Rs. – 0.20||GODREJAGRO||22-Jul-20||Final Dividend – Rs. – 5.50|
|VSTIND||20-Jul-20||Final Dividend – Rs. – 103.00||ICIL||22-Jul-20||Final Dividend – Rs. – 0.60|
|CHEMFABALKA||21-Jul-20||Final Dividend – Rs. – 1.25||TCPLPACK||22-Jul-20||Dividend – Rs. – 4.00|
|HIL||21-Jul-20||Final Dividend – Rs. – 10.00||WHEELS||22-Jul-20||Final Dividend – Rs. – 2.65|
|VAIBHAVGBL||21-Jul-20||Final Dividend – Rs. – 7.00||AKCAPIT||23-Jul-20||Final Dividend – Rs. – 1.00|
|ASRL||22-Jul-20||Bonus issue 3:4||ASIANPAINT||23-Jul-20||Final Dividend – Rs. – 1.50|
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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