outlookNIFTY:

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: 

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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TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
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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DERIVATIVE PICKS

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
MFSL.Jul 30 563.3 -1.62 2.05 1619800
TORNTPOWER.Jul 30 319.2 -0.62 1.92 1752000
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
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
Sectors Price Change % Quantity
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
Nestleind 17251.85 -0.03 207281 58680 54.87 India Vix 24.54 -0.41 56551295
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

   Domestic                                                                                                                                                  International
•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

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NEWS UPDATES

•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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
APLLTD General 27-Jul-20 MARICO Quarterly Results 27-Jul-20
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
ESCORTS General;Quarterly Results 27-Jul-20 REGENCY General 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
MAINFRA Audited Results 27-Jul-20 WELLNESS General 27-Jul-20

CORPORATE ACTION

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

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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