outlookNIFTY:

The Nifty opened almost unchanged in the morning, moved up, and then spent one hour trying to cross 11300 decisively. Price did not hold the higher levels and started a down move. From 12:40 PM onwards, the index began to fall steadily. A sharp intraday decline of 200 points (from intraday high to intraday low), almost 1.76% came, by the time the market closed. The Nifty closed at 11103, down 101 points. Trading range identified yesterday finally gives a sell signal. Yesterday, we explained that a small trading range is now visible. We asked traders to go long above 11262 and go short below 11160. The markets became choppy and both trades were executed one after the other. First the Nifty went above 11262 triggering a long trade for us. The stop for the trade was 11160 where a fresh short was also to be taken. Somewhere around midday, a sharp decline took the Nifty below 11160, which closed  our long position and started a short one. The stop for the short position should be moved to 11160 and for the downside target of 11060. We would suggest holding the trade with the above mentioned stop loss. If the market has begun a correction then the chances are that the index will go below 11000. The Nifty’s inability to cross 11300 and the fact that the index has now come all the way down to 11100 in just one day- both these indications suggests that the market may now be ready for some kind of a decline.

BANK NIFTY: 

Bank Nifty opened at 22195.05 with a minor gap down of 72 points. In the first half prices have traded sideways while in second half, prices have seen a sharp decline. The index closed at 21647 with a loss of about 415 points. Private and PSU banks have performed same today and closed lower by almost 2%. Within the index, in terms of points, Bandhan Bank contributed highest while Axis Bank the lowest. It was downside trend day as prices have opened near the day high and closed near the day low. A sharp decline in second half forced index to close near its support.

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TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
BERGERPAINT 527.65 BUY The stock has seen a sharp rally and then started trading in a range. The stock is on the verge of a breakout. The stock can be bought at CMP with a stop at 520 for the target of  540.
ADANIPORTS 311.95 SELL The stock is trading at the bottom of its range and we may see a breakdown here. The stock can be sold below  311 with a stop at 316 and for the target of 301.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
BIOCON 400 CE BUY 24.50 CMP 21 33 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
AMBUJACEM.Jul 30 221.35 2.43 47.99 3423000 HDFC.Jul 30 1803.4 -4.23 64.9 6154500
MARICO.Jul 30 366.3 0.88 42.99 3000000 M&M.Jul 30 598.65 -1.26 51.55 6844600
AUROPHARMA.Jul 30 825 1.32 36.84 2385500 TCS.Jul 30 2280 -0.05 38.4 1550400
DABUR.Jul 30 491.45 0.3 36.76 8291250 HDFCLIFE.Jul 30 631.15 -1.2 35.69 6461400
SUNPHARMA.Jul 30 509.45 3.05 35.47 7485800 ULTRACEMCO.Jul 30 4154.7 -0.85 35.33 623600
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
TVSMOTOR.Jul 30 405.75 1.08 -52.37 970200 CUMMINSIND.Jul 30 398 -0.3 -83.82 60000
INDIGO.Jul 30 935.15 2.45 -48.36 236500 CANBK.Jul 30 99.1 -1.1 -77.2 1125000
MINDTREE.Jul 30 1091.1 2.33 -46.61 201600 RAMCOCEM.Jul 30 695 -2.82 -76.89 51850
GLENMARK.Jul 30 441.4 3.68 -41.61 920000 BANDHANBNK.Jul 30 337 -0.15 -63.83 711000
APOLLOHOSP.Jul 30 1721.3 5.7 -40.37 308000 EICHERMOT.Jul 30 21229.8 -0.43 -59.13 22470

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Petronet Lng Limited 244.6 0.49 6443061 4586226 62.1 Nifty Pharma 10766.05 3.11 99054
Hdfc Ltd. 1810.65 -3.55 7473426 4500440 60.7 India Vix 24.73 2.57 99054
Hdfc Life Insurance Comp 635.1 -0.42 27847477 1325470 53.91 Nifty it 18003.55 0.69 99054
Dabur India Ltd. 491.9 0.47 8628663 3460199 52.79 Nifty Fmcg 30696.4 -0.81 99054
Exide Industries Ltd 153.95 0.1 4761327 1290193 51.68 Nifty 50 11102.15 -0.9 99054
Hcl Technologies Ltd. 695.45 0.15 7966921 3689633 51.66 Nifty Metal 2135.15 -1.18 99054
Hdfc Bank Ltd. 1050.65 -1.31 13478951 8529553 50.78 Nifty Infrastructure 3162.2 -1.19 99054
Lupin Limited 890.4 3.62 4113394 994697 48.81 Nifty Energy 15439 -1.9 99054
Siemens Ltd 1142.45 -0.55 606599 288501 44.15 Nifty Bank 21646.85 -1.95 99054
Amara Raja Batt Ltd 698.75 2.98 1188165 383604 44.01 Nifty Media 1296.35 -2.28 99054

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR:  Bank Loan Growth on 31th  July, 2020

•INR:  Infrastructure Output (YoY) (Jun) on 31st  July, 2020

•USA: Chicago PMI (Jul) on  31st July, 2020

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NEWS UPDATES

•Housing Development Finance Corp.’s profit declined in the first full quarter affected by the coronavirus pandemic. India’s biggest mortgage lender saw its profit fall 4.7% year-on-year to Rs 3,051 crore in the three months ended June, according to an exchange filing. That compares with the Rs 2,532.2-crore consensus estimate of analysts tracked by Bloomberg. During the quarter, HDFC Ltd sold shares in HDFC Life Insurance, resulting in a pre-tax gain of Rs 1,241 crore. In the year ago quarter, the lender had a profit on investments of Rs 1,894 crore.

•India’s fast moving consumer goods (FMCG) sector is expected to witness flat growth in 2020 following severe and extended lockdowns, restrictions on manufacturing units, social distancing norms and store closures, according to data analytics firm Nielsen. Earlier, on April 30, in the middle of the lockdown, Nielsen had slashed the growth forecast for the FMCG sector by almost half to 5-6 per cent for 2020 citing adverse impact of the coronavirus pandemic.

•Yes bank Ltd has taken possession of Reliance Centre, the headquarter building of Anil Dhirubhai Ambani Group (ADAG) in Mumbai. In an advertisement published in Financial Express on Wednesday, the bank has informed that it has taken possession of the over 21,000 sq ft headquarter building in Santacruz (Mumbai) and also two floors in Nagin Mahal in South Mumbai, which was its erstwhile headquarters.

Source: Economic Times,  Moneycontrol  ,Business Today,Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BLUEDART Quarterly Results 31-Jul-20 PRINCEPIPE Quarterly Results 31-Jul-20
DEEPAKFERT Quarterly Results 31-Jul-20 RCOM Audited Results 31-Jul-20
IOC Quarterly Results 31-Jul-20 RELCAPITAL Quarterly Results 31-Jul-20
IOLCP Quarterly Results 31-Jul-20 SBIN Quarterly Results 31-Jul-20
JSWENERGY General;Quarterly Results 31-Jul-20 SUNPHARMA* Quarterly Results 31-Jul-20
JUSTDIAL General;Quarterly Results 31-Jul-20 TATACHEM Audited Results;Quarterly Results 31-Jul-20
KHAITANLTD Audited Results;General 31-Jul-20 TATAMOTORS Quarterly Results 31-Jul-20
KISAN Audited Results 31-Jul-20 THYROCARE Interim Dividend;Quarterly Results 31-Jul-20
LALPATHLAB Quarterly Results 31-Jul-20 UJJIVANSFB Quarterly Results 31-Jul-20
MOTILALOFS* General;Quarterly Results 31-Jul-20 UPL Quarterly Results 31-Jul-20
NELCO Quarterly Results 31-Jul-20 VAKRANGEE Audited Results;Final Dividend 31-Jul-20
NIITLTD Audited Results 31-Jul-20 WABAG Audited Results;General 31-Jul-20
ORIENTLTD Audited Results 31-Jul-20 ZYDUSWELL Quarterly Results 31-Jul-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
EIMCOELECO 31-Jul-20 Dividend – Rs. – 5.00 TITAN 3-Aug-20 Dividend – Rs. – 4.00
BOSCHLTD 3-Aug-20 Final Dividend – Rs. – 105.00 CRISIL 4-Aug-20 Interim Dividend – Rs. – 6.00
DISAQ 3-Aug-20 Final Dividend – Rs. – 2.50 JMCPROJECT 4-Aug-20 Final Dividend – Rs. – 0.70
ISEC 3-Aug-20 Final Dividend – Rs. – 6.7500 JSWENERGY 4-Aug-20 Final Dividend – Rs. – 1.00
KAYCEEI 3-Aug-20 Final Dividend – Rs. – 30.00 KELENRG 4-Aug-20 Final Dividend – Rs. – 1.50
LUPIN 3-Aug-20 Final Dividend – Rs. – 6.00 NELCO 4-Aug-20 Dividend – Rs. – 1.20
SAREGAMA 3-Aug-20 Final Dividend – Rs. – 1.50 POLYSPIN 4-Aug-20 Final Dividend – Rs. – 0.60

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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