outlookNIFTY:

The Nifty opened with a gap up of almost 47 points and made a high at 11526 but did not sustain these higher levels and began falling almost immediately after the first 20 minutes of trading. After making an intraday low around 11423, the Index began an intraday rally. The market closed almost exactly at the closing of the previous day at 11472.

The Nifty is now moving in a narrow range for many days. While it is recording small gains, momentum is coming down. On 29th July, The Nifty had recorded a high of 11341. After a month on August 25th, The Nifty recorded a high of 11525. In the last month of trading, the Nifty has actually moved up 170 points approximately. This is much smaller momentum when compared to the gains we saw every month from April to July. This is the only sign we have that suggests, markets are now slowing down on the upside. However, these signs are not yet tradable. What is important is to understand that markets may be facing resistance, and therefore keep our long trades with tight stops and small volumes.

BANK NIFTY:

Bank Nifty opened at 22973.40 with a gap up of 168 points. The index sustained the higher levels, maintained the gap and finally closed at 23092 with a gain of almost 300 points. Private and PSU Banks both have performed well and closed higher. Within the index, in terms of points, SBI contributed highest while Federal Banks the lowest.

Back to Back gains in the index helped prices to close above its strong resistance around 23000. The index has seen a sharp rally of almost 1000 points in two days and now trading near the new highs of the current up move. Since the trend is up we should wait for a significant dip to buy.

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TECHNICAL PICKS

COMPANY  . B/S RATIONALE
HAVELLS 663.05 BUY The stock has given a breakout from a range. The stock can be bought between 654-657 with a stop at 645 and for the target of  685.
IDFC FIRST BANK 31.95 BUY The stock has given a breakout from a range. The stock can be bought at CMP with a stop at 31 and for the target of  34

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
BAJFINSERV 6500 CE BUY 108 CMP 70 160 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
HAVELLS.Aug 27 661.1 3.43 35.81 3925000 SBILIFE.Aug 27 849.65 -1.48 41.33 6336750
TITAN.Aug 27 1137.9 0.87 33.71 4938750 CIPLA.Aug 27 750 -0.56 34.51 12079600
ICICIBANK.Aug 27 385.4 1.14 26.74 93082000 HINDUNILVR.Aug 27 2182.55 -0.85 28.93 11347800
PIDILITIND.Aug 27 1475 0.41 25.78 3356500 HCLTECH.Aug 27 701.95 -0.81 28.59 12594400
LICHSGFIN.Aug 27 299.8 8.37 24.38 7704000 NESTLEIND.Aug 27 16339 -1.05 28.14 369350
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
ASIANPAINT.Aug 27 2002.95 1.86 -19.05 2685600 NTPC.Aug 27 103.95 -1.66 -18.01 24857700
RAMCOCEM.Aug 27 733.35 1.68 -12.26 991100 JSWSTEEL.Aug 27 284 -0.72 -16.47 19602000
UJJIVAN.Aug 27 253.2 1.28 -11.28 1298000 ZEEL.Aug 27 200.05 -0.92 -15.45 19524000
PVR.Aug 27 1323.95 0.93 -9.11 864468 VOLTAS.Aug 27 657.15 -0.9 -14.67 1937000
CHOLAFIN.Aug 27 241.5 4.75 -8.51 3787500 TORNTPOWER.Aug 27 353.35 -0.55 -13.68 1722000

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Unilever Ltd 2179.1 -0.7 1774886 1086991 65.27 Nifty Bank 23092.15 1.13 85548
Info Edge (india) Limite 3285.25 1.43 239635 238964 64.8 Nifty Auto 7983.6 0.44 85548
Tata Consumer Products l 545.55 0 1850495 1246886 58.73 India Vix 19.32 0.44 85548
Infosys Limited 938.1 -0.98 6233923 2986383 51.5 Nifty Media 1591.65 0.33 85548
Hdfc Life Insurance Comp 599.8 0.18 1803138 971433 51.31 Nifty 50 11472.25 0.05 85548
Cummins India Limited 473.55 1.35 1549218 1353506 49.93 Nifty it 17973.7 -0.21 85548
Mah & Mah Ltd. 609.35 1.23 4248591 1721908 46.44 Nifty Energy 15980.2 -0.56 85548
Bandhan Bank Limited 293.4 -0.53 11273967 4928833 46.2 Nifty Fmcg 31460.3 -0.57 85548
Vedanta Limited 130.05 0.97 8464054 9666227 46.15 Nifty Pharma 11500 -0.62 85548
Hdfc Ltd. 1829.6 -0.01 2646159 1744755 45.72 Nifty Metal 2507.5 -0.74 85548

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR: Bank Loan Growth on 28th  August, 2020

•INR: FX Reserves (USD) on 28th  August, 2020

•USA: Crude Oil Inventories on 26th August, 2020

•USA: Initial Jobless Claims on 27th August, 2020

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NEWS UPDATES

•Average income per person per month under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) almost doubled to Rs. 1,000 in the first four months of this fiscal from ₹509 in the previous year, Crisil said in a report on Tuesday.”The April-July period typically sees 25% greater work execution (in terms of person-days) under the scheme compared with the rest of the fiscal, thereby aiding rural income,” Crisil said in a statement.

•Higher agricultural income, a better-than-expected monsoon and pick up in the affordable housing segment will lead to a surge in India’s cement demand in the rural segment, analysts said. Rural demand is likely to help contain the on-year drop in cement sales volume to 12-14% this fiscal as against an average annual growth of 6% during the last three fiscals, said analysts from rating agency Crisil in a sector research report.

•Reducing debt, and improving the product portfolio will top the priority of Tata Motors, said N Chandrasekaran chairman of the company, at a shareholders’ meeting on Tuesday. “Currently the TML group has a net automotive debt of Rs 48,000 crore and currently we are deleveraging this business substantially. The target is to bring it to near zero debt levels in the next three years. Towards this, the company has already taken steps. This includes making the company free cash flow positive by FY22. The TML group, he added will also look to unlock investment in various non-core businesses.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
CEENIK Quarterly Results 26-Aug-20 MARBU Quarterly Results 26-Aug-20
COARO Quarterly Results 26-Aug-20 MENAMANI General 26-Aug-20
CORDSCABLE A.G.M.;General 26-Aug-20 MINDAFIN Quarterly Results 26-Aug-20
CRANESSOFT Audited Results 26-Aug-20 MISHTANN A.G.M.;General;Quarterly Results 26-Aug-20
CUPID General;Quarterly Results;A.G.M. 26-Aug-20 MKEXIM A.G.M.;General 26-Aug-20
DCM Quarterly Results 26-Aug-20 MPFSL A.G.M.;General;Quarterly Results 26-Aug-20
DOLAT Interim Dividend;Quarterly Results 26-Aug-20 NACLIND Quarterly Results 26-Aug-20
GILLETTE Audited Results;Final Dividend 26-Aug-20 NOVAPUB General;Quarterly Results 26-Aug-20
GMDCLTD Quarterly Results 26-Aug-20 ORIBEVER Audited Results;Dividend 26-Aug-20
HNDFDS Quarterly Results 26-Aug-20 QUINTEGRA Quarterly Results 26-Aug-20
IGL Quarterly Results 26-Aug-20 RALEGRA General 26-Aug-20
JDORGOCHEM A.G.M.;General 26-Aug-20 RELCHEMQ Quarterly Results 26-Aug-20
MARATHON General;Quarterly Results 26-Aug-20 RSCINT General;Quarterly Results 26-Aug-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
BIMETAL 26-Aug-20 Dividend – Rs. – 7.00 ASALCBR 27-Aug-20 Final Dividend – Rs. – 1.00
BRITANNIA 26-Aug-20 Interim Dividend – Rs. – 83.00 BOMOXY-B1 27-Aug-20 Final Dividend – Rs. – 10.00
GRASIM 26-Aug-20 Final Dividend – Rs. – 4.00 DIAMINESQ 27-Aug-20 Final Dividend – Rs. – 4.00
IIFLWAM 26-Aug-20 Interim Dividend – Rs. – 40.00 DUTRON 27-Aug-20 Final Dividend – Rs. – 1.20
KANPRPLA 26-Aug-20 Final Dividend – Rs. – 0.60 ECOPLAST 27-Aug-20 Final Dividend – Rs. – 1.50
ADSL 27-Aug-20 Final Dividend – Rs. – 0.50 GREENPLY 27-Aug-20 Final Dividend – Rs. – 0.40
ALFREDHE 27-Aug-20 Dividend – Rs. – 2.50 HESTERBIO 27-Aug-20 Dividend – Rs. – 6.60
ALFREDHE 27-Aug-20 Special Dividend – Rs. – 1.00 ISHANCH 27-Aug-20 Final Dividend – Rs. – 1.00

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


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