outlook

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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