outlookNIFTY:

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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