outlookNIFTY:

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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