NIFTY:
The Nifty opened higher by almost 40 points just above 11500. The index did not hold the gap up for long and then the Nifty fell almost 50 points down from its open to make its intraday low at 11462 and then moved sideways till 2:00PM. After that market began a handsome rally till the end of the day’s trading session. Nifty closed at 11549.60 up 77 points. The Media sector outperformed and closed higher by more than 2% whereas the Banking and Auto sector closed higher by more than 1%.
This is now 11500. Just five months ago the Nifty had fallen to 7500. The market has seen a rally of 40% in five months. This is as good as it gets.
If we go up another 900 points, we will then be at lifetime new highs for the Nifty.
With the strong uptrend and strong momentum, intraday traders should look to buy on dips and sell on rallies.
BANK NIFTY:
Bank Nifty opened at 23175.55 with a gap up of 67 points. The index sustained the gap up for the whole day. Moreover prices have built on the gains further and closed at 23414 with a gain of more than 300 points. Private Banks have performed well and closed higher by 1.76%. Within the index, in terms of points, Kotak Bank contributed highest while HDFC Bank contributed lowest. Bank Nifty continued its upside move for the fourth day. Back to Back gains in the index brought prices near 23500. The index is trading at the new highs of the current up move.
We should wait for a dip or any kind of consolidation in the index to take a trade. Private Banks are outperforming the Bank Index as well as the whole markets.
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TECHNICAL PICKS
| COMPANY . | B/S | RATIONALE | |
| HCLTECH | 712.80 | BUY | The stock has given a breakout from a range. The stock can be bought at CMP with a stop at 707 and for the target of 726 |
| L&TFH | 71.70 | BUY | The stock has given a breakout from a range. The stock can be bought between 71-71.20 with a stop at 69 and for the target of 74. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| BIOCON | 390 CE | BUY | 4.40 | CMP | 9 | 2.50 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| ICICIPRULI.Aug 27 | 448.95 | 0.36 | 36.15 | 2779500 | ITC.Aug 27 | 195.15 | -0.23 | 41.92 | 73964800 | |
| GODREJCP.Aug 27 | 685.1 | 1 | 31.06 | 2207000 | ULTRACEMCO.Aug 27 | 4086.8 | -2.01 | 41.19 | 1529400 | |
| HINDUNILVR.Aug 27 | 2183 | 0.14 | 27.44 | 6294900 | HDFC.Aug 27 | 1812.6 | -1.03 | 32.78 | 14679900 | |
| BAJAJ-AUTO.Aug 27 | 3082 | 2.22 | 25.94 | 884750 | HDFCLIFE.Aug 27 | 593.95 | -1.21 | 32.57 | 4625500 | |
| NMDC.Aug 27 | 96.8 | 2.33 | 24.82 | 23115000 | NESTLEIND.Aug 27 | 16210.05 | -0.73 | 32.29 | 212850 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| RAMCOCEM.Aug 27 | 732.15 | 0.15 | -38.77 | 379950 | TATACHEM.Aug 27 | 335 | -0.06 | -22.08 | 1546000 | |
| IDFCFIRSTB.Aug 27 | 32.45 | 1.56 | -36.19 | 22610000 | GODREJPROP.Aug 27 | 853.25 | -0.36 | -20.91 | 427700 | |
| UJJIVAN.Aug 27 | 253.8 | 0.51 | -26.29 | 882200 | AMARAJABAT.Aug 27 | 734 | -0.74 | -18.18 | 567000 | |
| CHOLAFIN.Aug 27 | 245 | 1.66 | -26.26 | 2450000 | BPCL.Aug 27 | 410.35 | -0.61 | -15.39 | 9111600 | |
| INFRATEL.Aug 27 | 200.95 | 1.16 | -24.76 | 4127200 | JINDALSTEL.Aug 27 | 221.3 | -0.43 | -14.84 | 4190000 | |
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TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Hindustan Unilever Ltd | 2182.8 | 0.17 | 2148246 | 1015182 | 57.2 | Nifty Media | 1632.15 | 2.54 | 98607 | |
| Sbi Life Insurance Compa | 839.2 | -1.03 | 2151697 | 1033864 | 55.05 | Nifty Auto | 8100.5 | 1.46 | 98607 | |
| Tata Consumer Products l | 549.15 | 0.66 | 5778039 | 993998 | 53.72 | Nifty Bank | 23414.2 | 1.39 | 98607 | |
| Hdfc Life Insurance Comp | 592.05 | -1.29 | 2950984 | 963752 | 53.45 | Nifty it | 18128 | 0.86 | 98607 | |
| Container Corp Of India | 393.8 | 0.13 | 2160646 | 991309 | 52.8 | Nifty Energy | 16115.05 | 0.84 | 98607 | |
| Nestleind | 16190.05 | -0.6 | 116523 | 57356 | 52.68 | Nifty Metal | 2527.8 | 0.81 | 98607 | |
| Mrf Ltd. | 59336.75 | 0.08 | 19076 | 12221 | 52.42 | Nifty 50 | 11549.6 | 0.67 | 98607 | |
| Infosys Limited | 950.8 | 1.35 | 5153663 | 3116528 | 49.99 | India Vix | 19.3 | -0.09 | 98607 | |
| Icici Bank Ltd. | 389.35 | 0.78 | 37164029 | 26307601 | 49.57 | Nifty Pharma | 11484.55 | -0.13 | 98607 | |
| Cummins India Limited | 475.2 | 0.35 | 966688 | 757275 | 48.88 | Nifty Fmcg | 31408.45 | -0.16 | 98607 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| •INR: Bank Loan Growth on 28th August, 2020
•INR: FX Reserves (USD) on 28th August, 2020 |
•USA: GDP (QoQ) (Q2) on 27th August, 2020
•USA: Initial Jobless Claims on 27th August, 2020 |
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NEWS UPDATES
| •Former Indian Oil Corp (IOC) chairman Sanjiv Singh has joined Reliance Industries Ltd as Group President for billionaire Mukesh Ambani-run firm’s oil-to-chemicals business. A communication by RIL Executive Director Hital R Meswani to the company employees said Singh, who superannuated from India’s largest oil firm on June 30, will be a member of the oil-to-chemicals(O2C) business leadership team.
•Bharti Airtel Ltd and Vodafone Idea Ltd lost 4.7 million subscribers each in May, while Reliance Jio Infocomm Ltd added 3.7 million users in the same month, according to Telecom Regulatory Authority of India (Trai) data released on Wednesday. The number of wireless subscribers, including 2G, 3G and 4G, declined 0.5% in May, amid the massive migration of workers from urban to rural areas due to covid-19 led lockdown. •In a relief to automobile manufacturers, the Director General of Foreign Trade (DGFT) has started issuing import licences for pneumatic tyres bought from China and other countries, two people directly aware of the development told Mint. So far, Hyundai Motor India Ltd, Honda Cars India ltd, MG Motor India ltd, Skoda Auto Volkswagen India Pvt Ltd, Bajaj Auto Ltd have received the import licences from the trade watchdog, the people mentioned above said. •State Bank of India Ltd. is creating a policy to lend to coal miners before landmark auctions that would end decades of state monopoly on the fuel. Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ALLCARGO | Voluntary Delisting of Shares | 27-Aug-20 | MCL | General;A.G.M. | 27-Aug-20 |
| CCFCL | General;A.G.M. | 27-Aug-20 | METALFORGE | Audited Results | 27-Aug-20 |
| CHENFERRO | Quarterly Results | 27-Aug-20 | NMDC | Quarterly Results | 27-Aug-20 |
| EDELWEISS | Quarterly Results | 27-Aug-20 | NOIDATOLL | Quarterly Results;A.G.M. | 27-Aug-20 |
| GAYAPROJ | Quarterly Results | 27-Aug-20 | ORVENPR | Quarterly Results | 27-Aug-20 |
| GMRINFRA | Quarterly Results | 27-Aug-20 | PANCARBON | General;Audited Results | 27-Aug-20 |
| HUIL | Quarterly Results | 27-Aug-20 | PENNARALUM | Quarterly Results;A.G.M. | 27-Aug-20 |
| ICRA | Quarterly Results | 27-Aug-20 | PNCINFRA | General;Quarterly Results | 27-Aug-20 |
| IDFC | Quarterly Results | 27-Aug-20 | SHAKTIPUMP | General | 27-Aug-20 |
| IITLPROJ | Quarterly Results | 27-Aug-20 | TPLPLAST | Quarterly Results;A.G.M. | 27-Aug-20 |
| KANSAFB | Quarterly Results | 27-Aug-20 | WATERBASE | Quarterly Results | 27-Aug-20 |
| MAHAPEXLTD | General | 27-Aug-20 | ZEAL | General;A.G.M. | 27-Aug-20 |
| MARGOFIN | Quarterly Results | 27-Aug-20 | ZYDUSWELL | Preferential Issue of shares | 27-Aug-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| 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 |
| ASALCBR | 27-Aug-20 | Final Dividend – Rs. – 1.00 | KCP | 27-Aug-20 | Dividend – Rs. – 0.1500 |
| BOMOXY-B1 | 27-Aug-20 | Final Dividend – Rs. – 10.00 | MUNJALSHOW | 27-Aug-20 | Final Dividend – Rs. – 4.50 |
| DIAMINESQ | 27-Aug-20 | Final Dividend – Rs. – 4.00 | OBCL | 27-Aug-20 | Dividend – Rs. – 0.50 |
| DUTRON | 27-Aug-20 | Final Dividend – Rs. – 1.20 | PFIZER | 27-Aug-20 | Final Dividend – Rs. – 10.00 |
| ECOPLAST | 27-Aug-20 | Final Dividend – Rs. – 1.50 | STRTECH* | 27-Aug-20 | Final Dividend – Rs. – 3.50 |
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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