outlook

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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