outlookNIFTY:

The Nifty opened without much of change yesterday at 11057.55. The index saw a sharp decline from its open which continued for the whole day. It was a downside trend day as prices opened near its intraday high and closed near its intraday low at 10891 down by about 180 points. Banks and Financials have led the bearish move as both indices closed down by more than 2%. The intermediate trend is up but gives a sign of weakness. Momentum in the intermediate time frame has been falling and has now reached a point of where we can consider momentum to be oversold.

Traders should watch the index today carefully before going ahead with any trade.

BANK NIFTY:

Bank Nifty opened at 21543.80 with a gap down of 113 points. The index has seen an intraday fall of almost 500 points and closed below 21100. PSU Banks have continued performing well and the index closed with a gain of 0.54%. Within the index, in terms of points, SBI contributed highest while HDFC Banks the lowest. Prices have seen a sharp fall and closed near its support of 21000. Prices yesterday broke a support of 21500. Prices have been falling for the last few days and incurred a loss of almost 2200 points from its swing high. We should wait for an adequate setup to initiate a trade.

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TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
NIITTECH 1928.65 BUY The stock has been trading in a range and we may now see a breakout upwards. The stock can be bought at CMP with a stop at 1900 and for the target of 1970.
MCDOWELL 574 SELL The stock has broken down from its range. The stock can be sold below 573 with a stop at 579 and for the target of  561.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
TATACONSUMER 430 CE BUY 21.25 20 18 25 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
IDEA.Aug 27 8.8 3.53 38.12 288120000 BANDHANBNK.Aug 27 309.85 -10.4 147.14 24609600
TATAMOTORS.Aug 27 113.6 8.24 21.68 96854400 UJJIVAN.Aug 27 225.1 -4.31 20.37 3302200
MUTHOOTFIN.Aug 27 1289.75 0.77 9.37 3318750 BANKNIFTY.Aug 27 21165.9 -2.42 14.29 1554025
JINDALSTEL.Aug 27 191.6 3.29 7.03 17205000 ESCORTS.Aug 27 1103.55 -2.49 11.99 2435400
BANKBARODA.Aug 27 47.1 0.11 4.49 42935200 GODREJPROP.Aug 27 924.95 -0.81 7.51 483600
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
BIOCON.Aug 27 413.25 0.4 -5.11 14147300 APOLLOHOSP.Aug 27 1577.25 -5.2 -10.25 1064000
SRF.Aug 27 3839.8 1.07 -5.01 602500 MFSL.Aug 27 544.4 -2.72 -3.04 1657500
JUBLFOOD.Aug 27 1741.1 0.68 -3.88 1908500 BAJAJFINSV.Aug 27 6124.6 -1.83 -2.94 805875
AMBUJACEM.Aug 27 221.35 0.41 -3.28 18570000 NAUKRI.Aug 27 3167.55 -1.35 -2.9 704000
CHOLAFIN.Aug 27 200.6 0.48 -2.58 7282500 HDFCLIFE.Aug 27 604.7 -3.72 -2.9 10618300

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Petronet Lng Limited 249.9 0.83 1305496 2652860 56.11 India Vix 25.18 4.11 40179
Nestleind 16524.8 0.02 60085 78814 53.27 Nifty Metal 2156.15 0.41 40179
Torrent Power Limited 327.95 0.77 1146751 678091 51.95 Nifty Pharma 11128.4 -0.18 40179
United Breweries Limited 946.2 -0.57 125974 285213 50.63 Nifty Fmcg 30759.8 -0.36 40179
Mindtree Limited 1126.95 4.02 1134063 749732 49.39 Nifty Auto 7240.25 -0.54 40179
Hindustan Unilever Ltd 2204.5 -0.24 728666 826884 48.19 Nifty it 17965.8 -0.59 40179
Power Finance Corporatio 81.05 0.25 2578131 2443007 47.34 Nifty Media 1271.95 -1.02 40179
Hdfc Bank Ltd. 1002 -2.98 6669946 8542845 45.28 Nifty 50 10891.6 -1.64 40179
Hero Motocorp Limited 2631.3 -1.69 1804664 551980 43.79 Nifty Energy 15055.55 -1.66 40179
Bharti Airtel Limited 547.35 -1.35 4620694 5625127 41.17 Nifty Bank 21072.1 -2.62 40179

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR:  Nikkei Services PMI (Jul) on 5th August, 2020

•INR:  Interest Rate Decision on 6th August, 2020

•USA: Crude Oil Inventories on  5th August, 2020

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

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NEWS UPDATES

•Wockhardt  Ltd will supply millions of doses of multiple COVID-19 vaccines to the United Kingdom, it said on Monday. The company has reserved manufacturing capacity to supply vaccines to the UK, including the one being developed by AstraZeneca and Oxford University, as part of an agreement with the UK government.

•Bandhan Bank on Monday said the promoter’s stake in it reduced to 40% after the block deal in which 337.4 million shares were sold. The lender told stock exchanges that its promoter Bandhan Financial Holdings Limited was “required to bring excess shareholding to 40% of paid-up voting equity capital of the bank” and hence it “diluted excess shareholding of 20.95% through secondary market sale”.

•Amid absence of skilled employment in villages, migrant workers who had left for home during coronavirus lockdown are returning to cities, a survey said. Nearly two-third of migrant workers have either returned to cities or wish to do so, said the survey of 4,835 households across 11 states in 48 districts in Jharkhand, Madhya Pradesh, Assam, Bihar, Chhattisgarh, Gujarat, Uttar Pradesh, West Bengal, Odisha, Rajasthan and Tripura. The study was conducted in the period of June 24 to July 8.

•Demand for work under the rural employment guarantee scheme, the Mahatma Gandhi National Rural Employment Guarantee, has fallen sharply in July by over 31% after rising for four consecutive months since April and touching a peak of 6.2 crore in June while employment provided under the scheme fell by more than half.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
APOLLOPIPES Quarterly Results 4-Aug-20 HIKAL Quarterly Results 4-Aug-20
ASTRAL Quarterly Results 4-Aug-20 IGARASHI Quarterly Results 4-Aug-20
CIGNITI Quarterly Results 4-Aug-20 JINDALSAW Quarterly Results 4-Aug-20
DIXON Quarterly Results 4-Aug-20 JMTAUTOLTD Audited Results 4-Aug-20
ERIS Interim Dividend;Quarterly Results 4-Aug-20 MARKSANS Quarterly Results 4-Aug-20
GEOJITFSL General;Quarterly Results 4-Aug-20 MRPL Quarterly Results 4-Aug-20
GODREJCP Quarterly Results 4-Aug-20 NEULANDLAB Quarterly Results 4-Aug-20
GRINDWELL Quarterly Results 4-Aug-20 PAUSHAKLTD Quarterly Results 4-Aug-20
GSCLCEMENT Quarterly Results 4-Aug-20 TATACONSUM General;Quarterly Results 4-Aug-20
GUJGAS Quarterly Results 4-Aug-20 UNICHEMLAB Quarterly Results 4-Aug-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
CRISIL 4-Aug-20 Interim Dividend – Rs. – 6.00 CRAVATEX 5-Aug-20 Final Dividend – Rs. – 1.00
JMCPROJECT 4-Aug-20 Final Dividend – Rs. – 0.70 GOODYEAR 5-Aug-20 Final Dividend – Rs. – 13.00
JSWENERGY 4-Aug-20 Final Dividend – Rs. – 1.00 GRANULES 5-Aug-20 Final Dividend – Rs. – 0.2500
KELENRG 4-Aug-20 Final Dividend – Rs. – 1.50 INFRATEL 5-Aug-20 Interim Dividend – Rs. – 2.30
NELCO 4-Aug-20 Dividend – Rs. – 1.20 LT 5-Aug-20 Final Dividend – Rs. – 8.00
POLYSPIN 4-Aug-20 Final Dividend – Rs. – 0.60 SHILCTECH 5-Aug-20 Dividend – Rs. – 1.00
SATIN 4-Aug-20 Right Issue of Equity Shares SURYAAMBA 5-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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