outlookNIFTY:

The Nifty again opened with a gap up of almost 55 points, then continuing the move up and made a high of 11220, and then a low of 11066 and finally closed at 11101. Around 11:30 AM, the Nifty fell with sharp decline of almost 110 point within 30 minutes and recorded its intraday low at 11066. The high of 11220 and low of 11066 may act as levels of support and resistance  today. The Nifty Metal sector has outperformed and closed almost 4% where as Auto Sector closed almost 2% up.

For yesterday we said  the markets may remain choppy. They did consolidate and were quite choppy intraday. For today, we believe markets can look for some kind of stability till 11 AM, when the RBI Policy announcements will be made. Market action is likely to follow the policy announcement. Given the uncertainty, it is wise to avoid trading the index until some kind of fresh trend emerges intraday.

BANK NIFTY:

Bank Nifty opened at 21686.85 with a gap up of 202 points. The index first moved up and made its intraday high at 21936.50. After that prices have seen a sharp decline and made its intraday low at 21448.40. Prices then traded sideways for the rest of the day and closed at 21509.95 with a gain of almost 20 points. Private banks have performed well and closed higher while PSU Banks closed lower. Within the index, in terms of points, Axis Banks contributed highest while HDFC Bank contributed lowest. Bank index holds its support around 21000 and remains above this for the whole day. Prices did not hold the early morning gains and closed without much of change.

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TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
MGL 987.25 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 980 and for the target of 1000.
ADANIPORTS 327.10 BUY The stock has been trading in a range and has now given a  breakout upwards. The stock can be bought between 325-326 with a stop at 320 and for the target of  336.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
BHARTIARTL 550 CE BUY 27.30 CMP 23 37 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
SAIL.Aug 27 37 6.32 36.15 53599000 ITC.Aug 27 194.05 -0.03 54.99 89641600
MFSL.Aug 27 548.4 1.45 34.96 2594800 TATACONSUM.Aug 27 449.15 -0.31 24.78 18724500
HINDALCO.Aug 27 176.6 8.38 21.29 30869700 CADILAHC.Aug 27 397.7 -1.73 19.23 11840400
UBL.Aug 27 959.5 1.85 16.85 1592500 MUTHOOTFIN.Aug 27 1269 -1.91 18.59 3909750
RBLBANK.Aug 27 176.6 4.4 13.22 18327400 SRTRANSFIN.Aug 27 645.2 -1.84 16.75 3342337
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
CHOLAFIN.Aug 27 204.2 1.87 -5.71 6527500 IDEA.Aug 27 8.3 -4.6 -4.64 305200000
AMARAJABAT.Aug 27 721.1 0.86 -4.41 1257000 DRREDDY.Aug 27 4623.7 -0.39 -1.23 3238250
INFRATEL.Aug 27 191.95 1.19 -2.91 12628000 GODREJPROP.Aug 27 905 -3.44 -1.02 506350
BRITANNIA.Aug 27 3864 0.89 -2.69 1288400 TORNTPOWER.Aug 27 331.15 -0.53 -0.84 1425000
BAJFINANCE.Aug 27 3274.45 1.21 -2.45 5623500 AUROPHARMA.Aug 27 866.85 -0.26 -0.84 14652300

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Unilever Ltd 2194.55 -0.15 1715481 1026973 51.82 Nifty Metal 2263.8 3.97 79230
Sbi Life Insurance Compa 860.9 -1.7 1364745 362471 51.27 Nifty Auto 7489.1 1.84 79230
Ultratech Cement Limited 4041.05 0.92 569833 304875 50.73 Nifty Media 1335.35 1.14 79230
Ntpc Limited 85.9 0.35 9479240 9847136 50.18 Nifty it 17869.8 0.35 79230
Petronet Lng Limited 247.35 0.16 2869012 1597081 49.96 Nifty Bank 21509.95 0.09 79230
Bharti Airtel Limited 558.95 1.81 12682481 5708086 48.32 Nifty 50 11101.65 0.06 79230
Icici Prudential Life In 461.7 1.71 2112026 1100663 47.51 Nifty Fmcg 30863.6 -0.12 79230
Colgate Palmolive (india 1443.3 0.25 485501 431740 46.59 Nifty Pharma 11263.75 -0.47 79230
Hdfc Ltd. 1776.7 -0.25 5576455 2186015 46.29 Nifty Energy 15328.3 -0.52 79230
Power Grid Corporation o 175.95 -1.29 5950020 2489915 45.97 India Vix 23.57 -1.06 79230

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR:  Cash Reserve Ratio on 6th August, 2020

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

•USA: Nonfarm Payrolls (Jul)on  7th August, 2020

•USA: Unemployment Rate (Jul) on 7th August, 2020

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NEWS UPDATES

•ITC launched as many as 60 new products in the non-cigarette fast-moving consumer goods (FMCG) space during FY20, bettering its earlier record in a year marked by slowdown. Aashirvaad Svasti fortified milk, Aashirvaad Nature’s superfoods, Fiama handwash with new fragrance technology, a wellness offering from Sunfeast – Veda Marie Light, and pulse chips Bingo! Starter, were some of them. During FY19, ITC had launched over 50 new FMCG products, which was a record for the company.

•India’s worsening economic outlook as coronavirus cases soar has raised the chance the central bank will cut interest rates at its policy review on Thursday, in spite of inflationary pressures. Around two-thirds of economists in a Reuters poll expect the Reserve Bank of India (RBI) to cut the repo rate by another 25 basis points (bps) on Aug. 6 and once more next quarter to a record low of 3.50%.

•Close on heels of announcing schemes to achieve self-reliance in bulk drugs to avert overdependence on China, the Indian government will shortly unveil a new Research and Development policy that seeks to incentivise the scientists on the monetisation of their innovations.

•Maruti Suzuki India (MSI) on Wednesday said it has launched S- Cross model with petrol engine, priced between Rs 8.39-12.39 lakh (ex-showroom Delhi). The model, which was earlier available in diesel engine only, now comes with 1.5 litre petrol powertrain mated with both manual and automatic transmissions.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ADANIENT Quarterly Results 6-Aug-20 JAMNAAUTO Quarterly Results 6-Aug-20
ADANIPOWER General;Quarterly Results 6-Aug-20 JKTYRE Quarterly Results 6-Aug-20
BASF Quarterly Results 6-Aug-20 KEI Quarterly Results 6-Aug-20
BAYERCROP Quarterly Results 6-Aug-20 LEMONTREE General;Quarterly Results 6-Aug-20
BLUESTARCO Quarterly Results 6-Aug-20 LUPIN General;Quarterly Results 6-Aug-20
DALBHARAT* Quarterly Results 6-Aug-20 MATRIMONY Quarterly Results 6-Aug-20
DEEPAKNI Quarterly Results 6-Aug-20 PIDILITIND Quarterly Results 6-Aug-20
DHARAMSI Quarterly Results 6-Aug-20 SAURASHCEM Quarterly Results 6-Aug-20
ESABINDIA Quarterly Results 6-Aug-20 TORNTPOWER Quarterly Results 6-Aug-20
GREENPANEL Quarterly Results 6-Aug-20 VARUNME Quarterly Results 6-Aug-20
GSPL Quarterly Results 6-Aug-20 VSSL Quarterly Results 6-Aug-20
HINDPETRO Quarterly Results 6-Aug-20 WHIRLPOOL Quarterly Results 6-Aug-20
IDEA Quarterly Results 6-Aug-20 YUKEN Quarterly Results 6-Aug-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ALKYLAMINE 6-Aug-20 Dividend – Rs. – 10.00 RANEHOLDIN 6-Aug-20 Final Dividend – Rs. – 4.00
BCPL 6-Aug-20 Final Dividend – Rs. – 0.20 SRF 6-Aug-20 Interim Dividend – Rs. – 5.00
BHARTIARTL 6-Aug-20 Final Dividend – Rs. – 2.00 STEELCAS 6-Aug-20 Final Dividend – Rs. – 0.60
GMM 6-Aug-20 Interim Dividend – Rs. – 1.00 SUKHJITS 6-Aug-20 Dividend – Rs. – 2.00
HEXAWARE 6-Aug-20 Interim Dividend – Rs. – 1.50 TATASTEEL 6-Aug-20 Final Dividend – Rs. – 10.00
LAKSELEC 6-Aug-20 Dividend – Rs. – 0.50 VISHNU 6-Aug-20 Dividend – Rs. – 1.00
MADHAVIPL 6-Aug-20 Bonus issue 3:1 WELCORP 6-Aug-20 Dividend – Rs. – 0.50
NGLFINE 6-Aug-20 Final Dividend – Rs. – 1.75 WHIRLPOOL 6-Aug-20 Final Dividend – Rs. – 5.00

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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