outlookNIFTY:

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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