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

Elite-Empower-App-Promotional-Banner-img1

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


Elite-Kuber-Mutual-Fund-Promotional-Banner-img

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

Market-Research-Promotional-Banner-img5

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’sDemat-and-Trading-Account-Promotion-Banner

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