NIFTY:
The Nifty opened with a gap down of almost 91 points at 11317, then went up and then moved sideways throughout the day. Finally, the Nifty closed almost near the open at 11312 down by 96 points. A rally after the gap down made today’s high at 11361.45 and then around 1:15 PM the market fell almost 70 points down and made its intraday lows at 11290. Yesterdays intraday action was almost like a nothing day and more like a choppy day. Media and Metal both sectors continued their outperformance and closed higher.
The Nifty had a choppy day. But with all the up and down in the market, there is an underlying message: the trend is still up. Just five days ago on Friday, August 14 the Nifty made a low of 11100. Yesterday the following gap down made a low of 11260. So far, we have a pattern of higher lows. This is inherently not bearish.
Based on the narrow movement of the Nifty. We recommend buying above 11361 and keep a stop below 11289. Take the trade only after the first 45 minutes of trading having elapsed. We can also look to sell Nifty below 11259 with a stop at 11320.
BANK NIFTY:
Bank Nifty opened at 21989.90 with a gap down of 306 points. The index traded very narrow and choppy and closed at 21999 with a loss of 300 points. Private banks have underperformed and closed lower by 1.31%. Within the index, in terms of points, PNB contributed highest while ICICI Bank contributed lowest. The index opened with a gap down. Prices maintain that gap down for the whole day but did not fall further down. This suggests that bulls still have upper hand. Trend is up. A broader range is 21400-22400. Although intraday traders can look to buy on dips or sell on rallies.
Trade AnyTime AnyWhere With Elite Empower Mobile App
TECHNICAL PICKS
| COMPANY . | B/S | RATIONALE | |
| TCS | 2252.85 | BUY | The stock has corrected, reached a good support level and we may see an up move from here. The stock can be bought at CMP with a stop at 2230 and for the target of 2300. |
| HINDPETRO | 214.70 | BUY | The stock has given a breakout from a range. The stock can be bought at CMP with a stop at 210 and for the target of 220-225 |
Get All Your Mutual Fund Portfolio Retuns on Your Mobile by Elite Kuber App
DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| JUBLFOOD | 1960 CE | BUY | 45.55 | CMP | 35 | 60 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| TORNTPOWER.Aug 27 | 361.05 | 3.76 | 26.92 | 3069000 | MUTHOOTFIN.Aug 27 | 1185.95 | -5.74 | 21.91 | 4443750 | |
| VOLTAS.Aug 27 | 668 | 2.77 | 16.9 | 3438000 | FEDERALBNK.Aug 27 | 54.55 | -1.09 | 18.39 | 98098500 | |
| ZEEL.Aug 27 | 199.9 | 1.39 | 16.11 | 35346000 | BANKNIFTY.Aug 27 | 21919.95 | -1.74 | 17.34 | 1428525 | |
| HINDALCO.Aug 27 | 198.4 | 0.53 | 15.9 | 30396700 | INDUSINDBK.Aug 27 | 514 | -1.97 | 13.67 | 35379200 | |
| IOC.Aug 27 | 89.3 | 1.13 | 7.2 | 46928100 | PETRONET.Aug 27 | 250.75 | -2.03 | 10.9 | 11445000 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| UJJIVAN.Aug 27 | 255.7 | 2.94 | -22.66 | 2215400 | CANBK.Aug 27 | 103.6 | -2.26 | -8.79 | 12660000 | |
| CENTURYTEX.Aug 27 | 339 | 1.44 | -14.71 | 2515800 | SRF.Aug 27 | 4250 | -1.15 | -7.09 | 636000 | |
| EQUITAS.Aug 27 | 56.65 | 3.75 | -5.24 | 15656000 | M&MFIN.Aug 27 | 135.35 | -1.13 | -5.48 | 16751616 | |
| COALINDIA.Aug 27 | 138.3 | 2.07 | -4.79 | 29662900 | ESCORTS.Aug 27 | 1144.5 | -1.44 | -4.87 | 2233000 | |
| EXIDEIND.Aug 27 | 169.35 | 1.38 | -4.56 | 10929600 | COFORGE LIMITED.Aug 27 | 1993 | -1.59 | -4.1 | 377250 | |
Get Stock Market Recommendation By Our Research Analysts
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Nestleind | 16211.95 | -0.82 | 98085 | 76556 | 61.24 | India Vix | 20.62 | 3.29 | 81825 | |
| Petronet Lng Limited | 250.05 | -1.96 | 8023423 | 2509422 | 59.22 | Nifty Media | 1598.65 | 3.11 | 81825 | |
| Hdfc Ltd. | 1785.15 | -2.34 | 2702815 | 1671178 | 56.94 | Nifty Energy | 15960.95 | 1.58 | 81825 | |
| Power Grid Corporation o | 181.2 | 2.17 | 24785430 | 3727922 | 53.44 | Nifty Metal | 2538.9 | 1.02 | 81825 | |
| Icici Prudential Life In | 439.1 | -3.4 | 2208998 | 898945 | 52.02 | Nifty Pharma | 11540.9 | 0.03 | 81825 | |
| Sbi Life Insurance Compa | 852.85 | -1.25 | 660138 | 685307 | 51.42 | Nifty Auto | 7911.6 | -0.37 | 81825 | |
| Info Edge (india) Limite | 3269.75 | -0.74 | 246606 | 218198 | 51.04 | Nifty Fmcg | 31439.9 | -0.46 | 81825 | |
| Vedanta Limited | 128.95 | -0.08 | 11240627 | 5964459 | 49.75 | Nifty it | 18126.1 | -0.47 | 81825 | |
| Tech Mahindra Limited | 726.4 | -0.04 | 6610632 | 3210780 | 49.34 | Nifty 50 | 11312.2 | -0.84 | 81825 | |
| Mrf Ltd. | 59507.3 | -0.55 | 27844 | 12370 | 48.86 | Nifty Bank | 21999.45 | -1.29 | 81825 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| •INR: FX Reserves (USD) on 21st August, 2020 | •USA: Manufacturing PMI (Aug) on 21st August, 2020
•USA: Existing Home Sales (Jul) on 21st August, 2020 |
Open Your Demat Account to Invest in Upcoming IPO’s
NEWS UPDATES
| •RBL Bank Ltd. plans to raise 15.66 billion rupees ($209 million) by issuing shares to five investors, including Maple II BV, ICICI Prudential Life Insurance Co. and CDC Group Plc. The bank’s board approved the issuance of about 88.5 million preferential shares at 177 rupees a share.That’s about 4% lower than their closing price on Wednesday.
•Hindalco Industries Ltd signed an agreement with UltraTech Cement Ltd to supply 1.2 million tonnes of bauxite residue every year to be used as a raw material for cement, as part of its push for alternative methods of disposing of the toxic waste. Hindalco would supply 2.5 million tonnes of bauxite residue, also known as red mud, to 40 cement companies this year, to help cement makers to replace their existing raw materials such as laterite, a mineral. •Private sector lender ICICI Bank’s Rs 15,000 crore equity raise will strengthen the lender’s capital position and is credit positive, says rating agency Moody’s. It was an important development since the ongoing economic slowdown, exacerbated by the disruptions from the coronavirus outbreak, will have a negative effect on the bank’s asset quality and pressure profitability and capital, it added. •Maruti Suzuki India (MSI) on Thursday said it has joined hands with the startup hub and incubation centre at the Indian Institute of Management, Bangalore (IIMB) to spearhead innovations in the mobility space. Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| COFFEEDAY | Quarterly Results | 21-Aug-20 | SIMRAN | Quarterly Results | 21-Aug-20 |
| DIXON | Preferential Issue of shares | 21-Aug-20 | SMSLIFE | General;Quarterly Results | 21-Aug-20 |
| GOENKA | A.G.M.;General;Quarterly Results | 21-Aug-20 | SPORTKING | Quarterly Results | 21-Aug-20 |
| IBULHSGFIN | Quarterly Results | 21-Aug-20 | SRESTHA | Quarterly Results | 21-Aug-20 |
| INDGELA | A.G.M.;General;Quarterly Results | 21-Aug-20 | SRMENERGY | A.G.M.;Quarterly Results | 21-Aug-20 |
| OIL | Quarterly Results | 21-Aug-20 | STANROS | Quarterly Results | 21-Aug-20 |
| PHCAP | Quarterly Results | 21-Aug-20 | SUPRAJIT | Quarterly Results | 21-Aug-20 |
| PNB | Quarterly Results | 21-Aug-20 | UNIONBANK | Quarterly Results | 21-Aug-20 |
| RAAJMEDI | General | 21-Aug-20 | VBCFERROQ | General | 21-Aug-20 |
| RAMSONS | Quarterly Results | 21-Aug-20 | VCU | Quarterly Results | 21-Aug-20 |
| RITHWIKFMS | A.G.M.;General | 21-Aug-20 | VENUSREM | Audited Results | 21-Aug-20 |
| ROSSARI | Quarterly Results | 21-Aug-20 | VINTAGES | Quarterly Results | 21-Aug-20 |
| SESL | General | 21-Aug-20 | VISIONCINE | A.G.M.;General | 21-Aug-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| AUROPHARMA | 21-Aug-20 | Interim Dividend – Rs. – 1.2500 | RADICO | 21-Aug-20 | Final Dividend – Rs. – 2.00 |
| DYNAMIND | 21-Aug-20 | Final Dividend – Rs. – 1.50 | TINPLATE | 21-Aug-20 | Dividend – Rs. – 1.00 |
| FAIRCHEM | 21-Aug-20 | Spin Off | VAIBHAVGBL | 21-Aug-20 | Interim Dividend – Rs. – 5.00 |
| INDIANHUME | 21-Aug-20 | Dividend – Rs. – 2.00 | DOLLAR | 24-Aug-20 | Dividend – Rs. – 1.70 |
| LOVABLE | 21-Aug-20 | Final Dividend – Rs. – 0.50 | EICHERMOT | 24-Aug-20 | Stock Split From Rs.10/- to Rs.1/- |
| MCX | 21-Aug-20 | Final Dividend – Rs. – 30.00 | SHIL | 24-Aug-20 | Dividend – Rs. – 0.1500 |
| MPSLTD | 21-Aug-20 | Buy Back of Shares | BANARISUG | 25-Aug-20 | Dividend – Rs. – 10.00 |
| NATCOPHARM | 21-Aug-20 | Interim Dividend – Rs. – 1.2500 | POLYPLEX* | 25-Aug-20 | Dividend – Rs. – 6.00 |
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
For Daily Share Market Updates, Daily debt market review, Market Research Analysis reports, Weekly Techno-Funda Report, Fundamental Analysis Report, Monthly Recommended stock Picks, Equity Trading Tips, Upcoming IPO/NFO/Bonds/Ncd’s updates & other related information Subscribe our research plan