NIFTY:
The Nifty had a very narrow movement throughout the day, continuing this narrow range moves over the last five days. Yesterday was the fifth day of very narrow ranges in the Nifty. The index opened with very marginal losses just slightly lower, and then throughout the day moved in a range between 11100 and 11170. After remaining inside this narrow range for the entire day, the Nifty closed within this range ending at 11132 down 62 points. The big mover of the day was the Nifty Bank which was down a whopping 813 points. Once again, Reliance saved the day for the Nifty. Yesterdays intraday action was almost like a nothing day, and the markets are probably getting ready for a big move in either direction.
The Nifty is now trending in a very narrow range with support at 11050 and resistance at 11200. Yesterday was the fifth day on which this narrow range continues to be valid. Markets will not continue in this range for a long period. We can expect a breakout either above 11200 or below 11050. Whichever way the market moves is likely to provide some amount of attraction and give a directional trade.
BANK NIFTY:
Bank Nifty opened lower at 22664.60 without any gap. Prices have seen a decline for the whole day with minor rallies in between. The index closed just below 21850 with a loss of 824 points. Private and PSU Banks have performed same and closed lower by more than 3%. Within the index, in terms of points ICICI Bank contributed the lowest followed by HDFC Bank. We had a short person taken around 22650. Prices have seen a sharp fall and met with out suggested target at 21850. A resistance is visible around 23000-23200 zone while support is now visible around 21500-22000.
Intraday traders should buy on dips if price finds support or sell on rallies near the resistance.
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TECHNICAL PICKS
| COMPANY . | CMP | B/S | RATIONALE |
| MUTHOOTHFIN | 1363.90 | 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 1340 and for the target of 1420 |
| APOLLOTYRE | 106.70 | SELL | The stock has broken down from a range. The stock can be sold below 106 with a stop at 108 and for the target of 102. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| INFY | 940 CE | BUY | 16.40 | CMP | 12 | 24 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| ICICIPRULI.Jul 30 | 459.25 | 4.33 | 45.18 | 10305000 | AUROPHARMA.Jul 30 | 779.1 | -3.83 | 25.48 | 13131300 | |
| BAJAJ-AUTO.Jul 30 | 3008 | 0.7 | 31.38 | 1904750 | CIPLA.Jul 30 | 653.45 | -1.8 | 25.11 | 13661700 | |
| ULTRACEMCO.Jul 30 | 3862.4 | 2.62 | 26.72 | 2765200 | EICHERMOT.Jul 30 | 20534 | -0.84 | 24.19 | 274925 | |
| ACC.Jul 30 | 1362.7 | 1.15 | 26.23 | 3053500 | WIPRO.Jul 30 | 268.5 | -0.94 | 23.8 | 25532800 | |
| TECHM.Jul 30 | 663.75 | 1.82 | 25.3 | 15777600 | ESCORTS.Jul 30 | 1099.05 | -2.82 | 22.35 | 2764300 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| GLENMARK.Jul 30 | 425.75 | 0.09 | -3.3 | 4919700 | ZEEL.Jul 30 | 145.6 | -4.15 | -11.1 | 23628000 | |
| SUNTV.Jul 30 | 382 | 1.43 | -1.82 | 5167500 | GRASIM.Jul 30 | 572.65 | -1.82 | -10.41 | 14080900 | |
| HINDALCO.Jul 30 | 158.05 | 1.02 | -1.27 | 32516600 | RBLBANK.Jul 30 | 179.5 | -2.18 | -9.42 | 16400800 | |
| IBULHSGFIN.Jul 30 | 213.7 | -1.29 | -7.7 | 9805300 | ||||||
| BHEL.Jul 30 | 36.4 | -1.36 | -5.48 | 41664000 | ||||||
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TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Hdfc Life Insurance Comp | 637 | 2.35 | 3340933 | 1772870 | 63.55 | Nifty it | 17626.75 | 1.97 | 71985 | |
| Itc Ltd. | 195.75 | -1.93 | 22619859 | 38098300 | 63.3 | India Vix | 25.02 | 1.95 | 71985 | |
| Nestleind | 17350.25 | 0.57 | 103811 | 122878 | 59.28 | Nifty Metal | 2094.4 | 0.33 | 71985 | |
| Ultratech Cement Limited | 3870 | 2.31 | 499666 | 333419 | 56.07 | Nifty Energy | 15903.05 | 0.05 | 71985 | |
| Icici Prudential Life In | 457.75 | 4.03 | 3350447 | 1260171 | 54.7 | Nifty Auto | 7186.45 | -0.45 | 71985 | |
| Pidilite Industries Ltd | 1357.65 | -1.52 | 1110545 | 337606 | 54.17 | Nifty 50 | 11131.8 | -0.56 | 71985 | |
| The Ramco Cements | 686.75 | -0.34 | 787845 | 357092 | 51.76 | Nifty Fmcg | 30819.75 | -0.64 | 71985 | |
| Colgate Palmolive (india | 1386.05 | 0.13 | 587045 | 488430 | 51.61 | Nifty Media | 1331.95 | -1.26 | 71985 | |
| Sbi Life Insurance Compa | 867.45 | 0.01 | 1342603 | 395353 | 50.37 | Nifty Pharma | 10062.05 | -1.72 | 71985 | |
| Kotak Mahindra Bank Limi | 1322.6 | -2.03 | 7558785 | 1393598 | 44.78 | Nifty Bank | 21848.75 | -3.59 | 71985 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| •INR: Bank Loan Growth on 31th July, 2020
•INR: Infrastructure Output (YoY) (Jun) on 31st July, 2020 |
•USA: Crude Oil Inventories on 29th July, 2020
•USA: Pending Home Sales (MoM) (Jun) on 29th July, 2020 |
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NEWS UPDATES
| •Reliance Industries Ltd (RIL) is in late-stage talks with Kishore Biyani-led Future Group to buy a controlling stake in its retail business. The companies have supposedly reached a common accord regarding certain terms and conditions and a deal is likely to be announced soon. The deal will make RIL the number one player in brick-and-mortar space in India across categories such as fashion, groceries, and merchandise. The transaction will be funded through a mix of share-swap and cash.
•Deepak Parekh, veteran banker and head of India’s largest mortgage lender, asked the banking regulator not to extend the moratorium on debt repayments beyond Aug. 31 even as India Inc. sought a one-time restructuring of outstanding loans. “Do not extend the moratorium as we have seen that people who have the ability to repay, whether it is corporates or individuals, are taking advantage under this moratorium and are deferring payments,” Parekh, chairman at Housing Development Finance Corp., speaking during an interaction with members of the Confederation of Indian Industry after the RBI governor’s speech. •India’s chemicals minister on Monday launched schemes to boost manufacturing in the bulk drugs and medical device industries to reduce India’s dependence on exports in these sectors. “The objective is to make India self-reliant in production of 53 critical (active pharmaceutical ingredients) APIs or Key Starting Materials (KSMs), and in production of medical devices, for which India is crucially dependent upon imports Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| 3IINFOTECH | Audited Results | 28-Jul-20 | MUTHTFN | General;Quarterly Results | 28-Jul-20 |
| CASTROLIND | Quarterly Results | 28-Jul-20 | NESTLEIND | Quarterly Results | 28-Jul-20 |
| ELANTAS | Quarterly Results | 28-Jul-20 | NIITTECH | Quarterly Results | 28-Jul-20 |
| EXCEL | Quarterly Results | 28-Jul-20 | ORIENTCEM | Quarterly Results | 28-Jul-20 |
| GALLISPAT | Quarterly Results | 28-Jul-20 | RBLBANK | Quarterly Results | 28-Jul-20 |
| HEXAWARE | Dividend;Quarterly Results | 28-Jul-20 | SANOFI | Quarterly Results | 28-Jul-20 |
| HTMEDIA | Quarterly Results | 28-Jul-20 | SUNTECK | Audited Results;Final Dividend | 28-Jul-20 |
| HYPERSOFT | Audited Results | 28-Jul-20 | SUPREME | Audited Results;Quarterly Results | 28-Jul-20 |
| IDBI | Quarterly Results | 28-Jul-20 | TATACOFFEE | Quarterly Results | 28-Jul-20 |
| IDFCFIRSTB | General;Quarterly Results | 28-Jul-20 | ULTRACEMCO | Quarterly Results | 28-Jul-20 |
| LEGACY | Quarterly Results | 28-Jul-20 | WELCORP | Quarterly Results | 28-Jul-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| GRANULES | 28-Jul-20 | Interim Dividend – Rs. – 0.25 | 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 |
| SESHAPAPER | 28-Jul-20 | Special Dividend – Rs. – 0.50 | GMBREW | 29-Jul-20 | Final Dividend – Rs. – 3.00 |
| SESHAPAPER | 28-Jul-20 | Dividend – Rs. – 3.50 | GPPL | 29-Jul-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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