NIFTY:
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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