The markets had a remarkable turnaround on Friday even though the US markets had fallen the previous night and same with the Asian markets. Thanks to a spectacular performance by Reliance and some gains by Infosys, the Indian markets actually remained unaffected by the turmoil al over the world. The Nifty opened a little lower and then went down just below 11100, but quickly recovered and closed at 11194, almost unchanged. The intraday recovery after an initial decline was almost entirely due to Reliance which closed 4.3% higher. The Nifty had opened at 11149 down almost 65 points, then went to a low of 11090 and finally rallied 100 points to close at 11195, down 20 points.
Nifty shows its strength as the world markets hardly make a difference to the Indian markets. Index closes almost unchanged while the global markets had fallen.
We had suggested buying on a dip towards 11170. Traders are expected to maintain this long side trade with a stop just under 11050. In an unlikely event that the market goes below 11050 and also goes below 10930, traders should go short below 10930.
Bank Nifty opened lower at 22853.20 with a gap down of 248 points. The index fell further till afternoon and made its intraday low at 22417.20. Prices find support here and then rallied and finally closed at 22679.70 with a loss of 422 points. Private and PSU Banks have performed the same and closed lower by 1.46% and 1.97% respectively. Within the index, in terms of points, Indusind Bank contributed the highest while ICICI Bank contributed lowest. A resistance for the index is visible around 23000-23200. Long trade will be justified if index closes above this zone or we see a sharp dip. We may be in a process of consolidation. Within a consolidation phase, intraday traders should buy on dips and sell on rallies.
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|NESTLE||17251.85||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 16950 and for the target of 17700.|
|PEL||1492||SELL||The stock has broken down from a range. The stock can be sold at CMP with a stop at 1499 and for the target of 1465.|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|HINDUNILVR||2200 CE||BUY||33.50||CMP||22||55||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|RBLBANK.Jul 30||183.5||3.23||8.85||18106400||UJJIVAN.Jul 30||245.7||-4.51||10.61||3119600|
|CUMMINSIND.Jul 30||393.2||0.4||2.25||1580400||IBULHSGFIN.Jul 30||216.5||-1.43||3.72||10623700|
|AMBUJACEM.Jul 30||200.75||0.98||0.14||17076000||MRF.Jul 30||63209.55||-0.65||3.02||17720|
|Short Covering||Long Unwinding|
|INDUSINDBK.Jul 30||523.45||1.5||-22.91||21080800||ITC.Jul 30||198.9||-0.95||-33.11||52185600|
|IDFCFIRSTB.Jul 30||28.45||4.02||-16.36||75468000||ADANIPORTS.Jul 30||310.05||-1.6||-21.49||24265000|
|SRTRANSFIN.Jul 30||708.2||0.35||-13.62||2461897||GRASIM.Jul 30||583.25||-2.69||-15.41||15716800|
|NIITTECH.Jul 30||1701.55||3.78||-12.92||402000||ESCORTS.Jul 30||1130.9||-3.73||-14.95||2259400|
|TECHM.Jul 30||651.9||2.84||-10.11||12591600||BIOCON.Jul 30||415.3||-3.75||-13.97||12532700|
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TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Tata Consumer Products l||408.45||1||3124083||1958583||65.45||Nifty it||17286||1.41||3243469|
|Hdfc Life Insurance Comp||622.4||-0.05||2789581||1826180||61.74||Nifty Energy||15895.85||0.59||8348883|
|Petronet Lng Limited||241.25||-4.19||6298398||3382375||56.36||Nifty 50||11194.15||-0.19||56551295|
|Acc Limited||1343.8||-1.2||955298||762870||54.95||Nifty Fmcg||31018.85||-0.27||1183189|
|Infosys Limited||922.85||1.64||18209670||6886521||52.76||Nifty Pharma||10237.95||-0.82||61243215|
|Gmr Infrastructure Limit||22.35||3.23||33162825||11994145||51.32||Nifty Auto||7218.65||-1.13||87482068|
|Icici Prudential Life In||440||-2.4||2303790||2071690||50.36||Nifty Media||1348.9||-1.64||466922257|
|Torrent Pharma Ltd.||2325.3||-1.09||315421||141329||49.63||Nifty Bank||22662.05||-1.83||27808468|
|Colgate Palmolive (india||1384.2||-0.34||946383||364137||49.15||Nifty Metal||2087.5||-2.06||301199037|
UPCOMING ECONOMIC DATA
|•INR: Bank Loan Growth on 31th July, 2020
•INR: Infrastructure Output (YoY) (Jun) on 31st July, 2020
|•USA: Core Durable Goods Orders (MoM) (Jun) on 27th July, 2020
•USA: Pending Home Sales (MoM) (Jun) on 29th July, 2020
|•ITC reported a 26 percent year-on-year (YoY) fall in standalone net profit for the quarter ended June 30, 2020, at Rs 2,342.76 crore. The company had reported a net profit of Rs 3,173.94 in the same quarter a year ago. The number came better than the estimates of the market. A CNBC-TV18 poll had estimated the June quarter net profit at Rs 2,220 crore. ITC’s revenue from operations dropped 17.4 percent YoY to Rs 9,501.75 crore in Q1FY21 from Rs 11,502.82 crore in the corresponding quarter a year ago.
•Ambuja Cement reported a 10.03 per cent rise in its standalone net profit for the quarter ended June to Rs 453.37 crore, and managed to beat analysts’ expectations. Its revenue from operations came in at Rs 2,176.75 crore, compared with 2,983.56 crore a year ago. The company said its net profit rose by 10 per cent on account of dividend income.
•Zee Entertainment Enterprises (ZEE) has posted a net loss of Rs 765.8 crore for the fourth quarter of the financial year ended March 31, 2020. This is compared to a net profit of Rs 292.5 crore in the corresponding quarter of the previous fiscal. ZEE’s operating revenue for the quarter was down 3.4% to Rs 1,951.1 crore, compared with Rs 2,019.3 crore in the year-ago period, as poor macroeconomic environment and the onset of Covid-19 outbreak resulted in a drop in advertising revenues.
•Reserve Bank of India (RBI) stress test on banks indicates that gross non performing asset (GNPA) ratio of all banks may increase from 8.5% in March 2020 to 12.5% by March 2021 due to the sharp slowdown in the economy as a result of the lockdown imposed to fight the Covid 19 pandemic.
Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|APOLLOTRI||Quarterly Results||27-Jul-20||ORIENTELEC||Quarterly Results||27-Jul-20|
|APTECHT||Quarterly Results||27-Jul-20||PFIZER||Quarterly Results||27-Jul-20|
|BEL||Quarterly Results||27-Jul-20||REGENCERAM||Audited Results;Quarterly Results||27-Jul-20|
|HAVELLS||Quarterly Results||27-Jul-20||TECHM||Quarterly Results||27-Jul-20|
|INDIACEM||Quarterly Results||27-Jul-20||TEJASNET||Quarterly Results||27-Jul-20|
|INDRAIND||Audited Results||27-Jul-20||VGUARD||Quarterly Results||27-Jul-20|
|INFRATEL||Interim Dividend;Quarterly Results||27-Jul-20||VIRATCRA||Audited Results;Final Dividend||27-Jul-20|
|KOTAKBANK||Quarterly Results||27-Jul-20||VTL||Quarterly Results||27-Jul-20|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|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|
|HATSUN||28-Jul-20||Interim Dividend – Rs. – 4.00||SPENCER||28-Jul-20||Right Issue of Equity Shares|
|HATSUN||28-Jul-20||Special Dividend – Rs. – 4.00||WORL||28-Jul-20||Bonus issue 1:1|
|MAHEPC||28-Jul-20||Dividend – Rs. – 1.20||ALEMBICLTD||29-Jul-20||Final Dividend – Rs. – 0.60|
|RBL||28-Jul-20||Final Dividend – Rs. – 11.00||BATAINDIA||29-Jul-20||Dividend – Rs. – 4.00|
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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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