NIFTY:
After five days of narrow range movement, the Nifty decided to finally begin a breakout and the breakout was on the upside. We had identified a resistance of 11200 in the Nifty. During the day the index crossed this resistance and then did not look back, touching a high of 11318 before closing significantly higher at 10300 up more than 150 points. Yesterdays trading was marked by two different segments in the day – first sideways and choppy movement in the initial hours and then once 11200 broke out, a significant rally of more than 120 points from the breakout level. We have been long in the Nifty at 11150, our stop was at 11050. Yesterday the market was choppy but never came close to out stop loss. Eventually there was a breakout above 11200. Should take profits and close this position today. The target for this pattern is 11350. We have already reached 11318. It may be possible that we will touch the target today or even exceed it. We have to wait and see since the rally was not reflected in the European markets and US Futures. We must therefore take our profits in this long position. A month ago, the Nifty was trading at 10100. If we were asked whether the Nifty would touch 11300 in just a month, we would have said it was very unlikely. Although, it does appear the market is over extended on the upside, any significant correction should come about sooner or later. But the market has to give some signs for when it comes. For now the only message is that the market is going up and we should follow that.
BANK NIFTY:
Bank Nifty opened at 21940.15 with a gap up of 88 points. Prices first saw a sharp decline and then a steady rally for the most part of the day. The index closed at 22100 with a gain of more than 240 points. Private banks have performed well and closed higher by 1.26%. Within the index, in terms of points, Kotak Bank contributed highest while ICICI Bank contributed lowest. Private banks are outperforming the Index, investors should look for large Private banks stocks to buy.
Buy above 22250 or sell below 21650.
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TECHNICAL PICKS
| COMPANY . | CMP | B/S | RATIONALE |
| ICICIBANK | 352.10 | BUY | The stock has had a moil correction touched a major support zone and revered its journey back up. The stock can be bought at CMP with a stop at 344.50 and for the target of 360-365. |
| ZEEL | 144.40 | SELL | The stock has broken down from a range. The stock can be sold below 141 with a stop at 144 and for the target of 134. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| ESCORTS | 1160 CE | BUY | 15.40 | CMP | 12 | 22 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| ACC.Jul 30 | 1400 | 2.46 | 35.54 | 2465500 | NESTLEIND.Jul 30 | 17165.25 | -1.08 | 30.03 | 636100 | |
| MARICO.Jul 30 | 360.8 | 2.81 | 34.39 | 11708000 | TATAPOWER.Jul 30 | 49.2 | -0.71 | 29.71 | 59994000 | |
| SBILIFE.Jul 30 | 884.15 | 1.71 | 33.34 | 6235500 | VOLTAS.Jul 30 | 582.65 | -1.24 | 26.96 | 3188000 | |
| TATAMOTORS.Jul 30 | 106.35 | 4.62 | 29.08 | 85517100 | ICICIBANK.Jul 30 | 353.45 | -1.6 | 26.26 | 90194500 | |
| MRF.Jul 30 | 62425.25 | 0.69 | 28.07 | 18890 | TORNTPHARM.Jul 30 | 2298.35 | -0.09 | 21.43 | 1686000 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| UJJIVAN.Jul 30 | 236.7 | 4.23 | -26 | 2153800 | GLENMARK.Jul 30 | 422.6 | -0.8 | -20.09 | 3705300 | |
| RAMCOCEM.Jul 30 | 713.15 | 4.02 | -24.25 | 796450 | TORNTPOWER.Jul 30 | 317.5 | -0.02 | -15.51 | 1356000 | |
| BANKBARODA.Jul 30 | 47 | 0.64 | -20.36 | 26043200 | ZEEL.Jul 30 | 145.2 | -0.17 | -12.24 | 18999000 | |
| CANBK.Jul 30 | 101.15 | 4.44 | -18.47 | 7175000 | NCC.Jul 30 | 29.8 | 0 | -11.81 | 14427000 | |
| L&TFH.Jul 30 | 60.85 | 2.79 | -18.07 | 16156800 | BALKRISIND.Jul 30 | 1245.3 | -0.48 | -6.3 | 1928800 | |
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TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Container Corp Of India | 453 | 2.23 | 1341290 | 1054961 | 66.7 | Nifty Auto | 7416.9 | 3.21 | 80790 | |
| United Breweries Limited | 970.05 | -1.24 | 257409 | 349719 | 58.67 | Nifty it | 18042.75 | 2.36 | 80790 | |
| Hdfc Life Insurance Comp | 640.5 | 1.11 | 4307409 | 1836929 | 54.93 | Nifty Metal | 2141.3 | 2.24 | 80790 | |
| Torrent Power Limited | 317.05 | -0.14 | 525146 | 318545 | 53.32 | Nifty 50 | 11300.55 | 1.52 | 80790 | |
| Hdfc Bank Ltd. | 1086.65 | 0.66 | 17798330 | 9728035 | 51.24 | Nifty Bank | 22105.2 | 1.17 | 80790 | |
| Exide Industries Ltd | 154.1 | 0.39 | 2292344 | 1226885 | 50.4 | Nifty Pharma | 10128.05 | 0.66 | 80790 | |
| Nestleind | 17095.4 | -1.47 | 158968 | 51346 | 49.45 | Nifty Energy | 16001.95 | 0.62 | 80790 | |
| Tata Consumer Products l | 413.05 | 1.13 | 3500424 | 1516369 | 48.4 | Nifty Fmcg | 30910.9 | 0.3 | 80790 | |
| Pidilite Industries Ltd | 1353.8 | -0.18 | 1289612 | 518343 | 46.66 | Nifty Media | 1329.25 | -0.2 | 80790 | |
| Hdfc Ltd. | 1897.35 | 2.52 | 4346193 | 1718505 | 46.14 | India Vix | 23.64 | -5.51 | 80790 | |
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
| •Prime Minister Modi is expected to hold a meeting with stakeholders from the financial sector in the next few days, a senior government official told Moneycontrol. Expectedly this week itself, in the next few days,” the official said. The meeting is expected to be attended by heads of public sector banks and non-banking financial companies (NBFCs).
•Mukesh Ambani’s Reliance Industries Ltd will pay between Rs 24,000 crore and Rs 27,000 crore ($3.2-$3.6 billion) to buy the Indian retail chains owned by Future Group, Mint newspaper reported on Tuesday, citing two sources familiar with details of the deal. Asia’s richest man, Ambani has been buoyed by investments close to $20 billion from backers including Google and Facebook in his oil-to-telecoms conglomerate, and is seeking to strengthen his hand in India’s huge retail sector. •Leading private sector lender ICICI Bank has now become the second most widely tracked stock in the world after e-commerce giant Alibaba. As many as 59 analysts covered ICICI Bank, and all of them had ‘buy’ ratings on the lender. On the other hand, 64 experts tracked Alibaba and 63 had ‘buy’ ratings on the stock, while one had a ‘hold’ call, ETNOW reported. •Chairman of Tata Sons, Tata Motors and Jaguar Land Rover plc on Tuesday announced Thierry Bolloré as the new Chief Executive Officer of Jaguar Land Rover, effective 10 September 2020. Bolloré succeeds Prof Sir Ralf Speth, who will take up the previously announced position of Non-Executive Vice Chairman of Jaguar Land Rover plc. Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| AVTNPL | Final Dividend;Quarterly Results | 29-Jul-20 | DRL | Audited Results;Quarterly Results | 29-Jul-20 |
| BALPHARMA | A.G.M.;Audited Results | 29-Jul-20 | DRREDDY | Quarterly Results | 29-Jul-20 |
| BENARAS | Quarterly Results | 29-Jul-20 | HERITGFOOD | Quarterly Results | 29-Jul-20 |
| BETALA | Quarterly Results | 29-Jul-20 | JKPAPER* | Quarterly Results | 29-Jul-20 |
| BHARATAGRI | Audited Results | 29-Jul-20 | JMTAUTOLTD | Audited Results | 29-Jul-20 |
| BHARTIARTL | Quarterly Results | 29-Jul-20 | MANAPPURAM | Quarterly Results | 29-Jul-20 |
| CANBK | General | 29-Jul-20 | MARUTI | Quarterly Results | 29-Jul-20 |
| CEATLTD | Quarterly Results | 29-Jul-20 | NAVINFLUOR | Quarterly Results | 29-Jul-20 |
| CHAMBLFERT | Quarterly Results | 29-Jul-20 | SIS | Quarterly Results | 29-Jul-20 |
| COLPAL | Quarterly Results | 29-Jul-20 | SNOWMAN | Quarterly Results | 29-Jul-20 |
| DHARSUGAR | Audited Results | 29-Jul-20 | TVSMOTOR | Quarterly Results | 29-Jul-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| ALEMBICLTD | 29-Jul-20 | Final Dividend – Rs. – 0.60 | BALAMINES | 30-Jul-20 | Final Dividend – Rs. – 0.60 |
| BATAINDIA | 29-Jul-20 | Dividend – Rs. – 4.00 | BOMBCYC | 30-Jul-20 | Final Dividend – Rs. – 5.00 |
| GMBREW | 29-Jul-20 | Final Dividend – Rs. – 3.00 | CENTENKA | 30-Jul-20 | Dividend – Rs. – 8.00 |
| GPPL | 29-Jul-20 | Final Dividend – Rs. – 3.50 | ESSELPRO | 30-Jul-20 | Final Dividend – Rs. – 2.05 |
| MORGANITE | 29-Jul-20 | Final Dividend – Rs. – 16.00 | GABRIEL | 30-Jul-20 | Final Dividend – Rs. – 0.85 |
| NOVARTIND | 29-Jul-20 | Final Dividend – Rs. – 10.00 | HEROMOTOCO | 30-Jul-20 | Final Dividend – Rs. – 25.00 |
| ULTRACEMCO | 29-Jul-20 | Final Dividend – Rs. – 13.00 | HINDUNILVR | 30-Jul-20 | Special Dividend – Rs. – 9.50 |
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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