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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