outlookNIFTY:

The Nifty opened almost unchanged and then started a slow and steady rise which went on throughout the day. The Nifty closed at the highs of the day at 11215. The index is now well above 11200, having notched up gains for five of the last six days. Yesterday’s rally came after one day of decline which was the daybefore. So far, the trend has been consistent – look to buy on dips and stay on the long side. Reliance and State Bank of India were the two primary movers of yesterday’s market. A trading range in the Nifty was broken on the upside, and gives a buying opportunity. The long term trend is up. Momentum remains strong and suggests continuing strength. The intermediate trend is also up with a strong momentum. Traders should wait for a dip towards 11170 and then look to buy for the target of 11409 with a stop just below 10930.

BANK NIFTY: 

Bank Nifty opened without any gap today at 22854.85. The index rallied intraday with minor dips and closed with gains of about 200 points. PSU Banks have performed well and closed higher by 1.23%. Within the index, in terms of points, ICICI Bank contributed highest while Axis Bank contributed lowest. It was an uptrend day where prices have opened near the intraday low and closed near the intraday high. Daybefore was a big range day and yesterdays prices have remained inside the previous day’s boundary. A trading opportunity  may emerge if prices move out of these boundaries. Levels are 23250 as a resistance and 22650 as a support.

Intraday traders should try to trade extremes. Sell if prices hold the resistance and buy if prices hold the support. Keep a stop of 300 points and a target of 500 points.

Trade AnyTime AnyWhere With Elite Empower Mobile App

Elite-Empower-App-Promotional-Banner-img1

TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
UJJIVAN 257.20 BUY The stock has been consolidating in a range and has now given a breakout upwards. The stock can be bought at CMP with a stop loss at 253 and for the target of  264.
APOLLOTYRE 109.45 SELL The stock has  broken down from a range. The stock can be sold below 109.20 with a stop at 110.20 and for the target of 107.60.

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
BATAINDIA 1300 CE BUY 36.50 CMP 32 43 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
APOLLOHOSP.Jul 30 1538.05 3.5 22.27 1046000 CENTURYTEX.Jul 30 307.2 -0.26 10.76 2406600
EICHERMOT.Jul 30 20829.95 4.8 19.39 312970 PETRONET.Jul 30 252.95 -1.02 7.81 12753000
RELIANCE.Jul 30 2073 3.48 17.22 40217695 CANBK.Jul 30 102 -0.24 7.26 11150000
JUSTDIAL.Jul 30 378.45 2.16 16.82 1624000 SHREECEM.Jul 30 21630 -1.95 6.92 160700
BALKRISIND.Jul 30 1275.45 0.99 12.42 2375200 MRF.Jul 30 63524.95 -1.6 5.64 17430
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
JSWSTEEL.Jul 30 209.4 1.16 -20.02 33377400 MUTHOOTFIN.Jul 30 1313.5 -0.2 -3.69 3171000
IGL.Jul 30 415 1.84 -6.45 9339000 M&MFIN.Jul 30 145.95 -2.64 -3.41 16892820
KOTAKBANK.Jul 30 1367.9 2.44 -5.58 8974400 FEDERALBNK.Jul 30 56.75 -0.18 -2.9 52708500
GMRINFRA.Jul 30 21.8 4.56 -4.19 96705000 ESCORTS.Jul 30 1181.9 -1.82 -2.73 2663100
HDFCBANK.Jul 30 1126.9 0.41 -2.64 36233450 SAIL.Jul 30 35.15 -0.28 -2.68 39292000

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
Torrent Power Limited 319.85 0.11 850570 1821674 68.12 Nifty Energy 15803.25 1.53 79971
Hdfc Life Insurance Comp 622.7 2.14 2957797 3201206 61.98 Nifty Pharma 10322.15 1.44 79971
Balkrishna Ind. Ltd 1273.35 1.26 1638799 689794 59.92 Nifty Realty 201.85 1.41 79971
Hdfc Ltd. 1875.8 -0.28 3647242 2993093 54.04 Nifty Auto 7301.05 1.35 79971
Tata Consultancy Serv Lt 2171.2 -0.9 2265791 1542274 53.89 Nifty Bank 23083.9 0.88 79971
Ultratech Cement Limited 3837.9 -0.64 264268 228534 52.75 Nifty Metal 2131.4 0.83 79971
Info Edge (india) Limite 3272.3 2.63 296998 167823 51.21 Nifty 50 11215.45 0.74 79971
Petronet Lng Limited 251.8 -1.14 6001266 3153513 50.35 Nifty Media 1371.45 0.3 79971
Infosys Limited 907.95 -1.08 13052804 6908739 48.13 Nifty it 17045.2 -0.18 79971
Hdfc Bank Ltd. 1130.4 0.36 10074805 5835878 47.22 India Vix 24.64 -0.96 79971

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR:  FX Reserves, USD on 24th  July, 2020

•INR:  Infrastructure Output (YoY) (Jun) on 31st  July, 2020

•USA: New Home Sales (Jun) on 24th July, 2020

•USA: Core Durable Goods Orders (MoM) (Jun) on  27th July, 2020

Open Your Demat Account to Invest in Upcoming IPO’sDemat-and-Trading-Account-Promotion-Banner

NEWS UPDATES

•The Indian economy is likely to rebound in the second half of 2020 as the impact of the COVID-19 pandemic recedes, and is projected to grow by 6.7% in the next financial year, IHS Markit said on Thursday. The pandemic resulted in severe disruptions in industrial production and consumption spending in India during April and May.

•Hindustan Zinc Ltd, a subsidiary of Anil Agarwal-led Vedanta Ltd, on Thursday announced the appointment of Anjani K Agarwal, a former senior partner of Ernst & Young, and Akhilesh Joshi, former chief executive officer at Hindustan Zinc as directors on its board, effective August 1, 2020. The Udaipur-headquartered HZL is the largest producer of zinc, lead and silver in India.

•PNB Housing Finance on Thursday reported 10 per cent decline in consolidated net profit to Rs 257.2 crore in the first quarter ended June 30, mainly due to lower disbursement amid COVID-19 pandemic. The housing financier, promoted by Punjab National Bank, had reported net profit of Rs 284.5 crore in June quarter of 2019-20. The company’s net interest income also slipped 22 per cent to Rs 487.8 crore during April-June, as against Rs 625.5 crore in year-ago period, it said in a regulatory filing.

•Domestic carrier SpiceJet may have taken an early lead among private airlines to restart international operations, after getting designated as a scheduled airline to operate on agreed routes between India and the United States. SpiceJet will operate on the India-US route as per terms of Air Services Agreement between the two countries.

Source: Economic Times,  Moneycontrol  ,Business Today,Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AMBUJACEM Quarterly Results 24-Jul-20 NATHIND Audited Results 24-Jul-20
ASIANPAINT Quarterly Results 24-Jul-20 NEWLIGHT Audited Results;Quarterly Results 24-Jul-20
ATUL Quarterly Results 24-Jul-20 PRATIKSH Audited Results;Quarterly Results 24-Jul-20
CCL Quarterly Results 24-Jul-20 SCHAEFFLER Quarterly Results 24-Jul-20
CHENNPETRO Quarterly Results 24-Jul-20 STYLAMIND Quarterly Results 24-Jul-20
COROMANDEL Quarterly Results 24-Jul-20 TCIEXP Quarterly Results 24-Jul-20
CROMPTON Quarterly Results 24-Jul-20 TERRASCOPE Audited Results;General 24-Jul-20
CRSTCHM Audited Results 24-Jul-20 TYROON Audited Results 24-Jul-20
GHCL Quarterly Results 24-Jul-20 WELSPUNIND Quarterly Results 24-Jul-20
ITC Audited Results;Quarterly Results 24-Jul-20 WENDT Quarterly Results 24-Jul-20
JSWSTEEL General;Quarterly Results 24-Jul-20 ZEEL Audited Results 24-Jul-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
PAUSHAKLTD 24-Jul-20 Final Dividend – Rs. – 6.00 HATSUN 28-Jul-20 Interim Dividend – Rs. – 4.00
POLYCHEM 24-Jul-20 Dividend – Rs. – 12.50 HATSUN 28-Jul-20 Special Dividend – Rs. – 4.00
STAR 24-Jul-20 Final Dividend – Rs. – 2.00 MAHEPC 28-Jul-20 Dividend – Rs. – 1.20
TRENT 24-Jul-20 Dividend – Rs. – 1.00 RBL 28-Jul-20 Final Dividend – Rs. – 11.00
BAYERCROP 27-Jul-20 Final Dividend – Rs. – 25.00 SESHAPAPER 28-Jul-20 Special Dividend – Rs. – 0.50
NITTAGELA 27-Jul-20 Dividend – Rs. – 2.50 SESHAPAPER 28-Jul-20 Dividend – Rs. – 3.50
GRANULES 28-Jul-20 Interim Dividend – Rs. – 0.2500 SOLARA 28-Jul-20 Dividend – Rs. – 2.00

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