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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