NIFTY:
The Nifty opened almost unchanged after daybefore’s big move. This should have been taken to be positive because the US markets weighed down overnight. The fact that India was opening almost unchanged was not bearish. After a very brief foray in positive territory, the index started falling and reached a low of 11240 rather quickly. A quick rally saw the Nifty move up to 11300 and then around 12 PM a decline started that saw a big 150 points down move all the way to 11150, before the index recovered a little closed at 11200, still with a loss of about 95 points. Yesterday was a trend day on the downside. The Nifty did not move above the high of the first 15 minutes. The Nifty is now showing a small trading range with support at 11160 and resistance at 11262.
Traders can go short below 11160 with a stop at 11262 and target at 11061. Go long above 11262 with a stop below 11160 and a target of 11362.
BANK NIFTY:
Bank Nifty opened at 22075 without any gap. Prices have seen lots of up’s and down’s yesterday and finally closed at 22076.60 without much change from the previous closing. PSU Banks have performed well yesterday and closed higher by 1.51%. Within the index, in terms of points, Indusind Bank contributed highest while HDFC Bank contributed lowest. It was nothing day for the Bank Index. Prices moved in both directions and closed near its opening price. We suggested a trade above 22250, stay long on this trade with a stop just below 21650 and for a target of 23000.
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TECHNICAL PICKS
| COMPANY . | CMP | B/S | RATIONALE |
| ADANIENT | 178.30 | BUY | The stock has had a moil correction touched a major support zone and revered its journey back up. The stock can be bought between 176-177 with a stop at 168 and for the target of 186-210. |
| AMARARAJA | 681.25 | SELL | The stock has broken down from a range. The stock can be sold below 680 with a stop at 686 and for the target of 666. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| INDUSINDBK | 540 CE | BUY | 9 | 8.50 | 6.50 | 15 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| PFC.Jul 30 | 84 | 3.07 | 32.73 | 34093800 | BPCL.Jul 30 | 455.75 | -1.56 | 38.74 | 19591200 | |
| BHARTIARTL.Jul 30 | 568.95 | 0.6 | 31.76 | 49708605 | HDFC.Jul 30 | 1883.9 | -0.86 | 38.33 | 14733900 | |
| ULTRACEMCO.Jul 30 | 4177.25 | 1.07 | 31.34 | 1364600 | MARICO.Jul 30 | 362.75 | -0.01 | 36.06 | 6128000 | |
| DRREDDY.Jul 30 | 4310 | 6.09 | 28.81 | 1617250 | SBILIFE.Jul 30 | 882.25 | -0.22 | 35.84 | 3664500 | |
| COLPAL.Jul 30 | 1452.4 | 4.12 | 27.52 | 1505000 | AMBUJACEM.Jul 30 | 215.7 | -0.35 | 35.5 | 10752000 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| JINDALSTEL.Jul 30 | 184.05 | 0.27 | -45.29 | 3485000 | RAMCOCEM.Jul 30 | 715.25 | -0.1 | -50.64 | 327250 | |
| UJJIVAN.Jul 30 | 242.45 | 1.89 | -44.23 | 1009800 | RBLBANK.Jul 30 | 176.85 | -2.99 | -24.33 | 9487400 | |
| PNB.Jul 30 | 32.85 | 1.86 | -40.68 | 13370000 | ASHOKLEY.Jul 30 | 51.25 | -0.29 | -21.88 | 23580000 | |
| L&TFH.Jul 30 | 62.35 | 2.47 | -27.85 | 11009200 | CANBK.Jul 30 | 99.8 | -1.33 | -17.83 | 5370000 | |
| IDFCFIRSTB.Jul 30 | 28.3 | 1.43 | -26.49 | 30267000 | ESCORTS.Jul 30 | 1134.15 | -2.05 | -17.06 | 1171500 | |
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TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Hdfc Life Insurance Comp | 637.75 | -0.43 | 2458653 | 2529113 | 58.72 | Nifty Pharma | 10441.15 | 3.09 | 89100 | |
| Petronet Lng Limited | 243.4 | 3.8 | 7385546 | 2581852 | 57.83 | India Vix | 24.11 | 2 | 89100 | |
| Tata Consumer Products l | 427.7 | 3.55 | 5938179 | 1862151 | 53.2 | Nifty Metal | 2160.75 | 0.91 | 89100 | |
| Hdfc Ltd. | 1877.3 | -1.06 | 7413828 | 2221432 | 51.11 | Nifty Fmcg | 30948.5 | 0.12 | 89100 | |
| Godrej Cons Products Ltd | 680.15 | 0.4 | 971664 | 421461 | 50.67 | Nifty Bank | 22076.6 | -0.13 | 89100 | |
| Torrent Power Limited | 318.25 | 0.38 | 792055 | 264673 | 50.4 | Nifty Media | 1326.55 | -0.2 | 89100 | |
| Grasim Ind Ltd. | 616.3 | 3.36 | 6086161 | 2807292 | 50.1 | Nifty 50 | 11202.85 | -0.86 | 89100 | |
| Exide Industries Ltd | 153.8 | -0.19 | 2496414 | 1145724 | 49.98 | Nifty it | 17880.5 | -0.9 | 89100 | |
| Upl Limited | 461.75 | 2.85 | 7119905 | 2245723 | 48.54 | Nifty Auto | 7330.25 | -1.17 | 89100 | |
| Pidilite Industries Ltd | 1370.85 | 1.26 | 819945 | 599607 | 46.5 | Nifty Energy | 15737.55 | -1.65 | 89100 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| •INR: Bank Loan Growth on 31th July, 2020
•INR: Infrastructure Output (YoY) (Jun) on 31st July, 2020 |
•USA: Initial Jobless Claims on 30th July, 2020
•USA: GDP (QoQ) (Q2) on 30th July, 2020 |
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NEWS UPDATES
| •Interglobe Aviation Limited, posted its sharpest quarterly loss in at least five years as coronavirus-related restrictions hit its operations badly. The company recorded a net loss of Rs 2,844 crore for the June quarter as against a profit of Rs 1,200 crore in the corresponding period of the previous year. Revenue from operations fell 92 per cent.
•Hetero Labs Ltd has received regulatory approval to sell its version of anti-viral drug favipiravir to treat COVID-19, the drugmaker said on Wednesday, as coronavirus infections in the world’s third worst-hit nation crossed 1.5 million. The drug, priced at 59 rupees (79 cents) per tablet, is approved to treat mild to moderate COVID-19 and will be available at drug stores from Wednesday, privately held Hetero said in a statement. •Low-cost carrier SpiceJet has closed the full financial year 2019-20 with a net loss of Rs 935 crore as compared to a net loss of Rs 316 crore in the previous fiscal, impacted by COVID-19 pandemic and grounding of Boeing 737 MAX. For the January-March quarter of FY20, the carrier reported a net loss of Rs 807.1 crore as against net profit of Rs 56.28 crore in Q4 FY19, on weak demand, suspension of flight operations due to coronavirus outbreak. •Telecom industry has lost 82 lakh subscribers during the complete lockdown in April, and COVID-19 pandemic will continue to keep customer additions under pressure, according to a report. The decline in subscriber base during April was preceded by a loss of 28 lakh connections in March, which saw the lockdown being imposed towards the end. Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| AJANTPHARM | Quarterly Results | 30-Jul-20 | LAURUSLABS | Quarterly Results | 30-Jul-20 |
| CHOLAFIN | Quarterly Results | 30-Jul-20 | PEL | Quarterly Results | 30-Jul-20 |
| DAAWAT | Quarterly Results | 30-Jul-20 | RELIANCE | Quarterly Results | 30-Jul-20 |
| DABUR | Quarterly Results | 30-Jul-20 | RELINFRA | Quarterly Results | 30-Jul-20 |
| DHAMPURSUG | General;Quarterly Results | 30-Jul-20 | RPOWER | Quarterly Results | 30-Jul-20 |
| FAIRCHEM | Quarterly Results | 30-Jul-20 | SHREDIGCEM | Quarterly Results | 30-Jul-20 |
| GMRINFRA | Audited Results | 30-Jul-20 | SRF | Interim Dividend;Quarterly Results | 30-Jul-20 |
| HDFC | Quarterly Results | 30-Jul-20 | TATACOMM | Quarterly Results | 30-Jul-20 |
| INDIGO | General | 30-Jul-20 | TCPLPACK | Quarterly Results | 30-Jul-20 |
| IOB | General | 30-Jul-20 | TORNTPHARM | Quarterly Results | 30-Jul-20 |
| JMFINANCIL | Quarterly Results | 30-Jul-20 | VAIBHAVGBL | Interim Dividend;Quarterly Results | 30-Jul-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| BALAMINES | 30-Jul-20 | Final Dividend – Rs. – 0.60 | JONJUA | 30-Jul-20 | Bonus issue 1:43 |
| BOMBCYC | 30-Jul-20 | Final Dividend – Rs. – 5.00 | KHAICHEM | 30-Jul-20 | Dividend – Rs. – 0.20 |
| CENTENKA | 30-Jul-20 | Dividend – Rs. – 8.00 | KRITIIND | 30-Jul-20 | Final Dividend – Rs. – 0.15 |
| ESSELPRO | 30-Jul-20 | Final Dividend – Rs. – 2.05 | KRITINUT | 30-Jul-20 | Dividend – Rs. – 0.1800 |
| GABRIEL | 30-Jul-20 | Final Dividend – Rs. – 0.85 | KUANTUM | 30-Jul-20 | Dividend – Rs. – 2.50 |
| HEROMOTOCO | 30-Jul-20 | Final Dividend – Rs. – 25.00 | MATRIMONY | 30-Jul-20 | Final Dividend – Rs. – 1.50 |
| HINDUNILVR | 30-Jul-20 | Special Dividend – Rs. – 9.50 | MATRIMONY | 30-Jul-20 | Special Dividend – Rs. – 2.00 |
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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