NIFTY:
The market again opened with a gap up, just a little below 11000. After moving sideways during most of the day, the Nifty again had a late hour rally and closed above 11000. The market action during the day was choppy except for the last hour then the big rally came in. Trading was mainly to buy on a dip and wait for the market to cross 11000. The Nifty closed at 11022 up 120 points. While the Nifty had impressive gains because of the gap up, the daily range was quite narrow, being just 85 points. This led to the day being the narrowest range in seven days. The Nifty had set up a narrow range day yesterday after a handsome rally from 10550 to above 11000. A narrow range day represents indecision and in some cases- consolidation. If Nifty were to go below 10950, yesterdays low, perhaps this could be the first sign of a small decline. A move above yesterdays high of 11040 will almost certainly suggest that the index is willing to go to 11150. We had suggested traders to go long in Nifty above 10800 for the target of 11050. Yesterdays high was just 12 points short of that, traders that did not exit their trade, should book their profits today.
Intraday traders can look to buy above 11050 or sell below 10950 if markets sustain the lows.
BANK NIFTY:
Bank Nifty opened at 22307.30 with a gap up of 250 points. The index traded sideways after opening higher. The index closed with a gain of 355 points. PSU Banks have performed well and closed higher by 1.55%. Within the index, in terms of points. HDFC Bank contributed highest while Kotak Bank the lowest. Bank Nifty continued its momentum and closing higher for the third consecutive day. Prices have seen a rally from its 21000 support to 22500 resistance. 1500 points in just 3 trading days.
Intraday traders should buy above 22500 or short sell below 22150.
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TECHNICAL PICKS
| COMPANY . | CMP | B/S | RATIONALE |
| IGL | 417.60 | BUY | The stock has been consolidating in a narrow range for a few days and is on the verge for a breakout upwards. The stock can be bought above 420 with a stop loss at 415 and for the target of 430. |
| GODREJPROP | 877.85 | SELL | The stock has broken down from a range. The stock can be sold below 875 with a stop at 885 and for the target of 850. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| TCS | 2200 CE | BUY | 57 | CMP | 45 | 78 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| M&MFIN.Jul 30 | 219.75 | 5.75 | 76.47 | 19059600 | KOTAKBANK.Jul 30 | 1315 | -1.14 | 16.03 | 9569600 | |
| HEROMOTOCO.Jul 30 | 2831.2 | 3.19 | 15.23 | 2648700 | SUNPHARMA.Jul 30 | 483.6 | -4.32 | 10.67 | 31173800 | |
| EQUITAS.Jul 30 | 58.65 | 6.06 | 12.77 | 11544400 | CONCOR.Jul 30 | 446 | -1.01 | 10.67 | 7860327 | |
| BANKNIFTY.Jul 30 | 22250 | 1.27 | 11.82 | 1643100 | LUPIN.Jul 30 | 866 | -3.81 | 8.08 | 9146000 | |
| ADANIENT.Jul 30 | 161.95 | 6.41 | 11.75 | 21412000 | ZEEL.Jul 30 | 155 | -1.9 | 6.7 | 23226000 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| FEDERALBNK.Jul 30 | 53.9 | 2.96 | -5.99 | 54961000 | GLENMARK.Jul 30 | 420.15 | -2.62 | -8 | 6212300 | |
| CANBK.Jul 30 | 103.5 | 0.58 | -5.72 | 10300000 | MFSL.Jul 30 | 571.75 | -0.91 | -6.81 | 1566500 | |
| IDEA.Jul 30 | 8.95 | 1.13 | -3.01 | 292740000 | BHEL.Jul 30 | 38.05 | -1.17 | -4.04 | 50904000 | |
| L&TFH.Jul 30 | 62.85 | 1.13 | -2.67 | 29777200 | BPCL.Jul 30 | 437.65 | -1.57 | -2.69 | 19553400 | |
| DIVISLAB.Jul 30 | 2290 | 0.83 | -2.62 | 4575600 | NATIONALUM.Jul 30 | 33.75 | -2.32 | -2.28 | 37927000 | |
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TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Upl Limited | 453.65 | 3.94 | 9435359 | 1950469 | 53.52 | Nifty it | 17258.3 | 2.6 | 88740 | |
| Balkrishna Ind. Ltd | 1253.25 | 0.02 | 514593 | 402172 | 53.21 | India Vix | 24.71 | 2.29 | 88740 | |
| Hindustan Unilever Ltd | 2330.95 | -0.15 | 2816285 | 1505353 | 48.74 | Nifty Bank | 22321.85 | 1.62 | 88740 | |
| Grasim Ind Ltd. | 603.15 | 1.87 | 2286607 | 1027503 | 47.31 | Nifty 50 | 11022.2 | 1.11 | 88740 | |
| Power Grid Corporation o | 163.5 | 0.12 | 4719748 | 3630664 | 47.07 | Nifty Media | 1343.9 | 0.55 | 88740 | |
| Siemens Ltd | 1180.05 | 1.82 | 1096727 | 337190 | 46.99 | Nifty Auto | 7175.85 | 0.54 | 88740 | |
| Tata Consumer Products l | 423.1 | 0.02 | 1680913 | 1284266 | 46.86 | Nifty Realty | 197.25 | 0.43 | 88740 | |
| Godrej Cons Products Ltd | 698.65 | -0.27 | 985318 | 366518 | 45.63 | Nifty Metal | 2106 | 0.14 | 88740 | |
| Container Corp Of India | 446.25 | -0.53 | 7216169 | 2513609 | 45.54 | Nifty Energy | 14936 | -0.04 | 88740 | |
| Mahanagar Gas Limited | 1006.65 | 1.28 | 705363 | 513526 | 45.35 | Nifty Pharma | 10304.6 | -1.6 | 88740 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| •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 |
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NEWS UPDATES
| •SBI Card on Monday posted 13.80 per cent year-on-year (YoY) rise in net profit at Rs 393.29 crore for the quarter ended June 30. It had posted a net profit of Rs 345.59 crore in the corresponding quarter last year. Total revenue from operation increased 4 per cent YoY to Rs 2,152.20 crore during the quarter under review against Rs 2,068.28 crore in the corresponding quarter last year.
•IIFL Securities on Monday reported a 67 per cent plunge in profit after tax (PAT) to Rs 41.5 crore for the three months ended June 30, 2020. In comparison, the company had posted a PAT of Rs 125.4 crore in the year ago period, IIFL Securities said in a statement. Total income stood at Rs 178.3 crore for the quarter under review, down 4 per cent from Rs 185 crore reported in the April-June period of 2019-20. •Infrastructure Leasing & Financial Services (IL&FS) said on Monday it expected to resolve about 57% of its near trillion rupee ($13.35 billion) debt pile even as the pandemic delayed the resolution process in some of the group companies. •Infosys announced a partnership with Germany- based LANXESS, a specialty chemicals company, manufacturing chemical intermediates, additives, specialty chemicals. Infosys would support LANXESS in its IT infrastructure digitisation strategy and enable its global workforce spread across 33 countries with a secure and modern workplace. Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name5 | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| AXISBANK | Audited Results;Quarterly Results | 21-Jul-20 | ICICIPRULI | Quarterly Results | 21-Jul-20 |
| BAJAJFINSV | Quarterly Results | 21-Jul-20 | IIFL | Quarterly Results | 21-Jul-20 |
| BAJFINANCE | Quarterly Results | 21-Jul-20 | INDIAMART | Quarterly Results | 21-Jul-20 |
| BROOKS | Audited Results | 21-Jul-20 | POLYCAB | Quarterly Results | 21-Jul-20 |
| CRISIL | Interim Dividend;Quarterly Results | 21-Jul-20 | RESONANCE | Audited Results | 21-Jul-20 |
| DCMSHRIRAM | General;Quarterly Results | 21-Jul-20 | RIDHISYN | Audited Results | 21-Jul-20 |
| HATSUN | Interim Dividend;Quarterly Results | 21-Jul-20 | RISHITECH | Audited Results | 21-Jul-20 |
| HDFCLIFE | Quarterly Results | 21-Jul-20 | ROCKONENT | Audited Results;General | 21-Jul-20 |
| HINDCOPPER | Audited Results | 21-Jul-20 | SBILIFE | Quarterly Results | 21-Jul-20 |
| HINDUNILVR | Interim Dividend;Quarterly Results | 21-Jul-20 | SYNGENE | Quarterly Results | 21-Jul-20 |
| HINDZINC | Quarterly Results | 21-Jul-20 | TATAELXSI | Audited Results;Quarterly Results | 21-Jul-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| 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 |
| BASF | 22-Jul-20 | Dividend – Rs. – 3.00 | CGCL | 23-Jul-20 | Dividend – Rs. – 0.20 |
| GODREJAGRO | 22-Jul-20 | Final Dividend – Rs. – 5.50 | HCLTECH | 23-Jul-20 | Interim Dividend – Rs. – 2.00 |
| ICIL | 22-Jul-20 | Final Dividend – Rs. – 0.60 | MAHLOG | 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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