outlook

NIFTY:

The Nifty opened almost unchanged, then moved inside a narrow trading range throughout the day. There were repeated moves towards 11150 on the upside and repeated moves towards 11030 on the downside. Finally, the Nifty closed at 11073.45 down by 28 points. Friday’s intraday action was almost like a nothing day, and the markets are probably getting ready for a big move in either direction. The Pharma sector has outperformed and closed higher by more than 3% whereas Banks had a narrow range. On Thursday, a short position was initiated  with a stop at 11160. This level was not touched, although our target of 11060 was achieved.

The Long term trend continues to be up. Long term momentum has started falling and suggests that the market may be ready for either a correction or consolidation.

Intraday traders can look to buy above 11160 with a stop below 11080.

BANK NIFTY:

Bank Nifty opened at 21730.55 with a minor gap up of 68 points. In the first 30 minutes of trading, the index, first moved down and then moved higher. Prices then remains inside these levels for the rest of the day and closed at 21656 without much of change. PSU Banks have performed well today and closed higher by almost 1.42%. Within the index, in terms of points, SBI contributed highest while HDFC Bank the lowest. It was a choppy day as prices have traded inside the range recorded in the first 30 minutes of trading. The index has seen multiple moves intraday around 21500 support but at the end closed above this level. We have to wait and see how prices move around the 21500 support for the next few days and plan our trades accordingly.  Intraday traders should buy on dips and sell on rallies.

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TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
CANBK 101.85 BUY The stock has been trading in a range and has now given a breakout upwards. The stock can be bought at CMP with a stop at 100.90 and for the target of 104
IBULLHSGFIN 190 SELL The stock has broken down from its range. The stock can be sold between 193-195 with a stop at 201 and for the target of 178.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
HDFC LTD 1780 CE BUY 84.65 CMP 75 105 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
TORNTPHARM.Aug 27 2674.7 9.75 8501.96 2193500 HDFC.Aug 27 1795.05 -0.94 7592.12 28683900
AUROPHARMA.Aug 27 880.4 7.12 7056.6 14792700 MARUTI.Aug 27 6213.7 -1.04 6908.89 2838600
HAVELLS.Aug 27 582.9 0.81 5858.95 5661000 ASIANPAINT.Aug 27 1728.5 -1.03 6759.33 5514900
CADILAHC.Aug 27 391.9 7.09 5706.33 10091400 AMBUJACEM.Aug 27 220.75 -0.02 5680 19941000
EXIDEIND.Aug 27 155.6 1.17 5244.64 10774800 PFC.Aug 27 81.45 -0.79 5302.48 53927600
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
EQUITAS.Aug 27 50.55 -4.89 -77.32 1208400

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hdfc Life Insurance Comp 627.1 -1.26 3775023 19835648 71.23 Nifty Pharma 11148.9 3.56 83181
Vedanta Limited 113.8 2.61 27621967 55759659 61.48 Nifty Metal 2147.3 0.57 83181
Hindustan Unilever Ltd 2209.9 0.65 1715834 1111383 54.31 Nifty Fmcg 30872.45 0.57 83181
Pidilite Industries Ltd 1357 0.59 536618 403181 53.4 Nifty it 18071.85 0.38 83181
Container Corp Of India 451.1 0.26 1333011 970618 53.08 Nifty Bank 21640.05 -0.03 83181
Petronet Lng Limited 247.85 1.33 4727646 3384566 52.53 Nifty Auto 7279.75 -0.11 83181
Exide Industries Ltd 155.65 1.1 2540436 2398065 50.37 Nifty 50 11073.45 -0.26 83181
Power Grid Corporation o 178.3 0.82 8074445 6502756 48.18 Nifty Energy 15309.15 -0.84 83181
Infosys Limited 966 0.47 12704359 5962965 47.73 Nifty Media 1285.1 -0.87 83181
Dabur India Ltd. 513.55 4.4 8509912 3962932 45.93 India Vix 24.19 -2.17 83181

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR:  Nikkei Markit Manufacturing PMI (Jul) on 3rd August, 2020

•INR:  Nikkei Services PMI (Jul) on 5st  August, 2020

•USA: ISM Manufacturing PMI (Jul) on  3rd August, 2020

•USA: ISM Non-Manufacturing PMI (Jul) on 5th August, 2020

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NEWS UPDATES

•Maruti Suzuki India Ltd. sold 108,064 units in July 2020—that’s a growth of 88.2% over June 2020 and a fall of 1.1% over July 2019. The sales figure includes domestic sales of 100,000 units and 1,307 units for other original equipment manufacturers in the local market. The company also exported 6,757 units in July 2020. The sales performance signals a better second quarter for Maruti Suzuki after its first  quarterly loss since listing in the April-June period.

•Tata Power will focus on the renewable front for future growth, and it aims to raise its green energy portfolio to 50 per cent. Its growth would be concentrated on renewables, distribution and transmission of power along with new and value-added business, including rooftop solar, smart metering, micro-grids in rural areas.

•Tata Motors, the commercial vehicle major and the owner of Jaguar Land Rover, reported a consolidated loss of Rs 8,443.98 crore on July 31, for the quarter ended June 2020 as lockdown in several countries affected JLR as well as domestic businesses. The loss in fact was significantly higher than Rs 3,679.66 crore loss posted in Q1FY20 and Rs 9,863.75 crore loss in Q4FY20. Revenue from operations during the June quarter fell significantly to Rs 31,983.1 crore, compared to Rs 61,467 crore in the year-ago period.

•UPL Ltd.’s profit surged in the quarter ended June, a period marred by the coronavirus pandemic, on account of a low base and improved performance in India—one of its largest markets. Net profit rose 93% year-on-year to Rs 551 crore in the April-June period. UPL’s revenue, however, declined 1% over the year ago to Rs 7,833 crore.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AMAZEENT Issue Of Warrants;Pref.Issue; Results 3-Aug-20 NBVENTURES Quarterly Results 3-Aug-20
ARTEMISMED General;Quarterly Results 3-Aug-20 NITTAGELA General;Quarterly Results 3-Aug-20
BANKINDIA General;Quarterly Results 3-Aug-20 OLYOI Audited Results;Quarterly Results 3-Aug-20
BCLIL General;Preferential Issue of shares 3-Aug-20 POOJAENT Quarterly Results 3-Aug-20
CIGNITI Quarterly Results 3-Aug-20 RUBFILA General;Quarterly Results 3-Aug-20
DHANBANK Quarterly Results 3-Aug-20 SOLARA Quarterly Results 3-Aug-20
EXIDEIND Quarterly Results 3-Aug-20 SOUTLAT Quarterly Results 3-Aug-20
KANSAINER Quarterly Results 3-Aug-20 SRIKPRIND General 3-Aug-20
KPITTECH Quarterly Results 3-Aug-20 TRF Quarterly Results 3-Aug-20
MRO-TEK Quarterly Results 3-Aug-20 VBCFERROQ Audited Results 3-Aug-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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
TITAN 3-Aug-20 Dividend – Rs. – 4.00 SATIN 4-Aug-20 Right Issue of Equity Shares

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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