NIFTY:
The Nifty again opened with a gap up of almost 60 points and then spent half of the day trying to cross 11600. At some point apparently the bears got stronger or the bull gave up, or probably both events happened, the Nifty fell almost 60 points. The Nifty finally closed at 11559, up by almost 10 points near the lows of the day and the previous day close. While its a little early to say, it does appear that there was some kind of a period of consolidation. The Realty sector has seen a sharp move and closed higher by 6.40%. Auto and PSU Banks both sectors have closed higher by more than 1%. The Nifty continues to make new highs for this up move. The index touched 11600 before moving in a very narrow range throughout the day. The Nifty faces resistance around 11625 which is a resistance line coming from many months ago. If the index were to cross 11625, it is possible that we may be looking at 11740 as the next target.
The index has had a rally of more than 4100 points in just five months. Perhaps it is not difficult for it to go another 900 points to cross its lifetime high. The markets are very strong and we should remain on the buying side. For today we would like to trade the narrow range day that has developed. Buy above 11625 or sell below 11535. Keep a stop of 50 points.
BANK NIFTY:
Bank Nifty opened at 23511.45 with a gap up of 81 points. The index sustained these levels for the whole day. Prices have seen a minor intraday rally and closed with a gain of about 200 points. PSU and Private banks both have performed well and closed higher by almost 1%. Within the index, in terms of points Axis Bank contributed highest while Kotak Bank contributed lowest. Bank Nifty continued its upside for the fifth day but however traded very narrow. Trend is up, we have two scenarios to buy: First, a dip towards 23000 or Second, A small consolidation followed buy a breakout. Intraday traders should buy above 23725 or sell below 23450.
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TECHNICAL PICKS
| COMPANY . | B/S | RATIONALE | |
| BHARAT FORGE | 510.90 | BUY | The stock has given a breakout from a range. The stock can be bought at CMP with a stop at 500 and for the target of 530-540. |
| KOTAKBANK | 1420 | BUY | The stock has given a breakout from a range. The stock can be bought between 1412-1415 with a stop at 1390 and for the target of 1450 |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| BATA INDIA | 1340 CE | BUY | 62.55 | 57 | 45 | 85 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| TECHM.Aug 27 | 737.9 | 0.65 | 51.95 | 4155600 | HINDUNILVR.Aug 27 | 2179.15 | -0.14 | 26.43 | 2876100 | |
| M&M.Aug 27 | 639.6 | 4.3 | 46.53 | 6361600 | PETRONET.Aug 27 | 243.75 | -1.79 | 24.46 | 3465000 | |
| HDFC.Aug 27 | 1859.2 | 2.31 | 37.2 | 8159700 | GODREJCP.Aug 27 | 679.85 | -0.37 | 19.33 | 969000 | |
| MARICO.Aug 27 | 373.25 | 0.48 | 34.47 | 4034000 | DABUR.Aug 27 | 492.85 | -0.58 | 16.68 | 1976250 | |
| AMBUJACEM.Aug 27 | 221.5 | 0.11 | 17.16 | 4116000 | ADANIENT.Aug 27 | 285 | -0.12 | 12.62 | 3392000 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| HAVELLS.Aug 27 | 651 | 0.62 | -59.37 | 284000 | MINDTREE.Aug 27 | 1155.45 | -1.07 | -76.35 | 45600 | |
| TATASTEEL.Aug 27 | 428 | 0.62 | -56.88 | 1421200 | RAMCOCEM.Aug 27 | 713 | -1.87 | -75.24 | 65450 | |
| AMARAJABAT.Aug 27 | 741.2 | 0.43 | -50 | 159000 | UJJIVAN.Aug 27 | 255.05 | -0.18 | -74.85 | 184800 | |
| IDEA.Aug 27 | 9 | 0.56 | -47.27 | 64820000 | ICICIPRULI.Aug 27 | 448.7 | -0.26 | -59.67 | 291000 | |
| COFORGE LIMITED.Aug 27 | 1960.65 | 0.45 | -43.28 | 87000 | TVSMOTOR.Aug 27 | 459.85 | -1.2 | -57.77 | 631400 | |
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TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Info Edge (india) Limite | 3277.35 | 0.8 | 218136 | 289324 | 69.69 | Nifty Realty | 232.8 | 6.4 | 83439 | |
| Container Corp Of India | 395.5 | 0.43 | 1315768 | 1394606 | 64.55 | Nifty Auto | 8183 | 1.02 | 83439 | |
| Hindustan Unilever Ltd | 2171.25 | -0.53 | 2172278 | 1345926 | 62.65 | Nifty Pharma | 11588.05 | 0.9 | 83439 | |
| Sbi Life Insurance Compa | 841.25 | 0.24 | 945124 | 1259308 | 58.53 | Nifty Bank | 23600.35 | 0.8 | 83439 | |
| Vedanta Limited | 127.85 | -0.85 | 21935103 | 4774380 | 56.95 | Nifty Media | 1640.7 | 0.52 | 83439 | |
| Marico Limited | 374.65 | 1.2 | 1454666 | 1008097 | 56.59 | Nifty Metal | 2531.05 | 0.13 | 83439 | |
| Larsen & Toubro Limited | 975.6 | 0.69 | 4466694 | 2528073 | 56.4 | Nifty 50 | 11559.25 | 0.08 | 83439 | |
| Nestleind | 16113.7 | -0.47 | 127656 | 61439 | 52.73 | Nifty it | 18102.65 | -0.14 | 83439 | |
| Ultratech Cement Limited | 4047.15 | -0.8 | 458042 | 299583 | 52.12 | Nifty Fmcg | 31314.45 | -0.3 | 83439 | |
| Petronet Lng Limited | 243.35 | -1.74 | 5227448 | 1999672 | 52.1 | Nifty Energy | 15996.1 | -0.74 | 83439 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| •INR: Bank Loan Growth on 28th August, 2020
•INR: FX Reserves (USD) on 28th August, 2020 |
•USA: Personal Spending (MoM) (Jul) on 28th August, 2020
•USA: Chicago PMI (Aug) on 28th August, 2020 |
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NEWS UPDATES
| •RBI Governor said that the central bank will not withdraw the coronavirus-related dispensations immediately. It will be done in a calibrated manner. The RBI is monitoring the situation closely and will execute a very cautious plan with respect to unwinding relief measures such as interest rate cuts, higher structural and durable liquidity, moratorium on debt servicing, asset classification standstill, among others.
•Dr Reddy’s Laboratories has launched generic Penicillamine capsules, used for treatment of Wilson’s disease and cystinuria, in the US market. The company announced the launch of Penicillamine capsules USP in the strength of 250 mg after it was approved by the United States Food and Drug Administration (USFDA). The product is a generic version of Bausch Health Companies Inc’s Cuprimine capsules in the same strength, it added. •An Indian court on Thursday halted insolvency proceedings against Reliance Group chairman Anil Ambani, the younger brother of India’s richest man, and barred him from disposing of any of his assets. The SBI had moved the NCLT to recover over Rs 1,200 crore from Anil Ambani under the personal guarantee clause of the bankruptcy law. •Amid rising demand for anti-bacterial range of products, JSW Steel has rolled out a new product segment, JSW Radiance, colour-coated steel and coils with properties like anti-microbial & anti-dust. Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ARCHIES | A.G.M.;Quarterly Results | 28-Aug-20 | LORDSCHLO | General | 28-Aug-20 |
| CANTABIL | A.G.M.;Final Dividend | 28-Aug-20 | MAGNUM | Quarterly Results | 28-Aug-20 |
| CENTUM | Quarterly Results | 28-Aug-20 | MAHAANF | Quarterly Results | 28-Aug-20 |
| ESARIND | A.G.M.;General;Quarterly Results | 28-Aug-20 | NAM | A.G.M.;In. in Auth. Capital;Pref. Issue | 28-Aug-20 |
| EXPOGAS | A.G.M.;General;Quarterly Results | 28-Aug-20 | NETTLINX | A.G.M.;General | 28-Aug-20 |
| FEL | Audited Results | 28-Aug-20 | NUTECGLOB | Quarterly Results | 28-Aug-20 |
| FERMENTA | A.G.M.;Final Dividend;General | 28-Aug-20 | PARACABLES | Quarterly Results | 28-Aug-20 |
| HIGHENE | Quarterly Results | 28-Aug-20 | PARLEIND | A.G.M.;General | 28-Aug-20 |
| IBVENTURES | General;Preferential Issue of shares | 28-Aug-20 | POLYTEX | General;Quarterly Results | 28-Aug-20 |
| J&KBANK | General | 28-Aug-20 | SISL | Interim Dividend;Quarterly Results | 28-Aug-20 |
| KHADIM | Quarterly Results | 28-Aug-20 | SJVN | Quarterly Results | 28-Aug-20 |
| KOHINOOR | Audited Results;Dividend | 28-Aug-20 | TITAANIUM | A.G.M.;General | 28-Aug-20 |
| LAFFANSQ | General | 28-Aug-20 | XCHANGING | Voluntary Delisting of Shares | 28-Aug-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| ABBOTINDIA | 28-Aug-20 | Final Dividend – Rs. – 107.00 | PAISALO | 31-Aug-20 | Final Dividend – Rs. – 1.00 |
| ABBOTINDIA | 28-Aug-20 | Special Dividend – Rs. – 143.00 | PANAMAPET | 31-Aug-20 | Final Dividend – Rs. – 1.20 |
| CORALFINAC | 28-Aug-20 | Final Dividend – Rs. – 0.20 | SMLT | 31-Aug-20 | Final Dividend – Rs. – 0.50 |
| JOSTS | 28-Aug-20 | Final Dividend – Rs. – 3.00 | VINYLINDIA | 31-Aug-20 | Dividend – Rs. – 2.40 |
| SOLIMAC | 28-Aug-20 | Final Dividend – Rs. – 0.7500 | ASTRAMICRO | 1-Sep-20 | Final Dividend – Rs. – 1.20 |
| STHINPA | 28-Aug-20 | Final Dividend – Rs. – 1.50 | EVERESTO | 1-Sep-20 | Final Dividend – Rs. – 1.00 |
| CARERATING | 31-Aug-20 | Final Dividend – Rs. – 2.50 | JAYBARMARU | 1-Sep-20 | Dividend – Rs. – 1.2500 |
| MORGANITE | 31-Aug-20 | Stock Split From Rs.10/- to Rs.5/- | KAKATCEM | 1-Sep-20 | Final Dividend – Rs. – 3.00 |
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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