NIFTY:
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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