NIFTY:
The Nifty opened higher with a gap up of almost 53 points at 10953. In the next 15 minutes, the index fell down 50 points to 10900. Then began a handsome rally and the Nifty closed higher by almost 205 points. Around 12:00 PM in the afternoon the Nifty moved sideways for 2 hours, after moving sideways, the Index again had an hour rally, up almost 60 points from 11040. The trend yesterday was on the upside with the Nifty staying above the low and high of the first 15 minutes. The Bank Nifty and Nifty financial services both have outperformed and closed higher by more than 2%.After yesterdays remarkable rally, it is possible that markets may be choppy intraday today. We should also remember that the RBI will be meeting and announcing its policy changes, if any on Thursday, August 6.
The long term trend remains up; long term momentum was falling and has started rising yesterday after a decent period of decline. The up move in momentum after falling for many days suggests that markets may be willing to go for a consolidation rather than a significant decline.
Markets maybe entering a process of consolidation. Since a consolidation involves both rallies and declines, we can focus on the rallies and look to buy on dips.
BANK NIFTY:
Bank Nifty opened at 21248.25 with a gap up. The index first moved down and then saw a sharp rally and then traded sideways towards the end of the trading session. The index closed at 21490 with a gain of more than 400 points. Private Banks have performed well and closed higher by almost 2%. Within the index, in terms of points HDFC Bank contributed highest while Indusind Bank the lowest. Yesterday we mentioned a support around 21000, the index made a low of 21050 and then saw a sharp intraday rally.
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TECHNICAL PICKS
| COMPANY . | CMP | B/S | RATIONALE |
| ICICIBANK | 351 | 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 347 and for the target of 358. |
| TORNTPHARMA | 2828.70 | BUY | The stock has been trading in a range and has now given a breakout upwards. The stock can be bought between 2820-2825 with a stop at 2800 and for the target of 2860. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| ASIANPAINTS | 1700 CE | BUY | 61 | CMP | 54 | 75 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| APOLLOTYRE.Aug 27 | 116.2 | 6.95 | 38.19 | 15505000 | BANDHANBNK.Aug 27 | 303.15 | -2.16 | 28.18 | 31545000 | |
| VOLTAS.Aug 27 | 609 | 2.81 | 26.63 | 3134000 | SRTRANSFIN.Aug 27 | 656.55 | -2.39 | 19.8 | 3143571 | |
| MRF.Aug 27 | 61629.9 | 0.61 | 21.97 | 26810 | MFSL.Aug 27 | 539.3 | -0.94 | 18.35 | 1961700 | |
| EXIDEIND.Aug 27 | 156.2 | 0.77 | 19.75 | 12657600 | NTPC.Aug 27 | 83.35 | -2.91 | 12.35 | 59878500 | |
| CANBK.Aug 27 | 104.55 | 2.85 | 12.91 | 11985000 | TECHM.Aug 27 | 658.4 | -2.8 | 12.24 | 14126400 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| BANKNIFTY.Aug 27 | 21552.45 | 1.83 | -3.84 | 1494425 | BPCL.Aug 27 | 407.65 | -2.71 | -3.8 | 20237400 | |
| BALKRISIND.Aug 27 | 1330.95 | 1.16 | -3.64 | 2624800 | MINDTREE.Aug 27 | 1121.3 | -0.19 | -2.16 | 1193600 | |
| COLPAL.Aug 27 | 1440.45 | 1.5 | -1.5 | 3026100 | ||||||
| APOLLOHOSP.Aug 27 | 1650 | 4.61 | -1.22 | 1051000 | ||||||
| ZEEL.Aug 27 | 144.1 | 6.23 | -1.21 | 33930000 | ||||||
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TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Petronet Lng Limited | 246.95 | -1.18 | 3196862 | 1840373 | 61.1 | Nifty Media | 1320.3 | 3.8 | 80043 | |
| Ntpc Limited | 85.6 | 0 | 19622064 | 7631012 | 53.9 | Nifty Energy | 15408.15 | 2.34 | 80043 | |
| Hindustan Unilever Ltd | 2197.8 | -0.3 | 1981721 | 884767 | 52.55 | Nifty Bank | 21490.5 | 1.99 | 80043 | |
| Hdfc Ltd. | 1781.1 | 2.37 | 4722583 | 2400935 | 51.64 | Nifty 50 | 11095.25 | 1.87 | 80043 | |
| Kotak Mahindra Bank Limi | 1323.95 | 1.18 | 4946596 | 2643403 | 50.43 | Nifty Pharma | 11316.95 | 1.69 | 80043 | |
| Power Grid Corporation o | 178.25 | -0.17 | 5416560 | 3427969 | 48.75 | Nifty Auto | 7353.95 | 1.57 | 80043 | |
| Infosys Limited | 949.85 | -0.74 | 11133259 | 4108547 | 48.45 | Nifty Metal | 2177.35 | 0.98 | 80043 | |
| Bharti Airtel Limited | 549 | 0.3 | 11813422 | 4456165 | 48.33 | Nifty Fmcg | 30901.65 | 0.46 | 80043 | |
| Hdfc Bank Ltd. | 1041.65 | 3.96 | 30153418 | 7578040 | 47.69 | Nifty it | 17808 | -0.88 | 80043 | |
| Oil & Natural Gas Corp | 76.1 | 0.26 | 13370396 | 5645207 | 47.54 | India Vix | 23.82 | -5.42 | 80043 | |
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
| •Sun Pharmaceutical Industries said on Tuesday that it has launched FluGuard — a version of Favipiravir 200 mg — at Rs 35 per tablet for the treatment of mild to moderate cases of COVID-19 patients in India. “With over 50,000 COVID-19 cases being reported daily in India, there is an urgent need to provide more treatment options to healthcare professionals. We are launching FluGuard at an economical price to make the drug accessible to more and more patients thereby reducing their financial burden. This is in line with our continuous efforts to support India’s pandemic response,” Kirti Ganorkar, CEO of India Business, Sun Pharma, said on Tuesday.
•Brand Nexa, which has become the third largest automobile retail brand in five years since inception in July 2015, is arguably one of the best examples of how customer-centricity can create a premium brand. Nexa, the premium retail brand from the automotive leader Maruti Suzuki, commands a little over 11 per cent of the car market volume and contributes more than 20 per cent of Maruti’s annual volumes, grossing over 30,000 units per month even in this downturn. •Adani Properties, Suraksha Asset Reconstruction and Sunteck Realty are among six players which have shown initial interest to acquire debt-laden HDIL through the insolvency resolution process, according to a regulatory filing. Adani Properties and Suraksha group had participated in the insolvency resolution process of Jaypee Infratech, which eventually was acquired by the state-owned NBCC. Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ADANIGAS | Quarterly Results | 5-Aug-20 | JKLAKSHMI | Quarterly Results | 5-Aug-20 |
| AGRITECH | Quarterly Results | 5-Aug-20 | JPASSOCIAT | Quarterly Results | 5-Aug-20 |
| AMRITCORP | Quarterly Results | 5-Aug-20 | JYOTHYLAB | Quarterly Results | 5-Aug-20 |
| APOLLOTYRE | General;Quarterly Results | 5-Aug-20 | MAGADHSUGAR | Quarterly Results | 5-Aug-20 |
| ASAHIINDIA | General;Quarterly Results | 5-Aug-20 | MEGRISOFT | Quarterly Results | 5-Aug-20 |
| BSOFT | Quarterly Results | 5-Aug-20 | NETWORK | Quarterly Results | 5-Aug-20 |
| CADILAHC | Quarterly Results | 5-Aug-20 | PNBGILTS | Quarterly Results | 5-Aug-20 |
| CANBK | Quarterly Results | 5-Aug-20 | PSPPROJECT | A.G.M.;General;Quarterly Results | 5-Aug-20 |
| CERA | Quarterly Results | 5-Aug-20 | RBL | Quarterly Results | 5-Aug-20 |
| DLF | Quarterly Results | 5-Aug-20 | STAR | Quarterly Results | 5-Aug-20 |
| EIDPARRY | Quarterly Results | 5-Aug-20 | TASTYBIT | Quarterly Results | 5-Aug-20 |
| GODREJPROP | Quarterly Results | 5-Aug-20 | TITANBIO | Quarterly Results | 5-Aug-20 |
| HAWKINCOOK | Interim Dividend;Quarterly Results | 5-Aug-20 | TITANSEC | Quarterly Results | 5-Aug-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| CRAVATEX | 5-Aug-20 | Final Dividend – Rs. – 1.00 | VOLTAS | 5-Aug-20 | Dividend – Rs. – 4.00 |
| GOODYEAR | 5-Aug-20 | Final Dividend – Rs. – 13.00 | ALKYLAMINE | 6-Aug-20 | Dividend – Rs. – 10.00 |
| GRANULES | 5-Aug-20 | Final Dividend – Rs. – 0.2500 | BCPL | 6-Aug-20 | Final Dividend – Rs. – 0.20 |
| INFRATEL | 5-Aug-20 | Interim Dividend – Rs. – 2.30 | BHARTIARTL | 6-Aug-20 | Final Dividend – Rs. – 2.00 |
| LT | 5-Aug-20 | Final Dividend – Rs. – 8.00 | GMM | 6-Aug-20 | Interim Dividend – Rs. – 1.00 |
| SHILCTECH | 5-Aug-20 | Dividend – Rs. – 1.00 | HEXAWARE | 6-Aug-20 | Interim Dividend – Rs. – 1.50 |
| SURYAAMBA | 5-Aug-20 | Final Dividend – Rs. – 0.60 | LAKSELEC | 6-Aug-20 | Dividend – Rs. – 0.50 |
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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