NIFTY:
The Nifty moved in a very narrow range throughout the day, finally closing with gains but not offering any significant intraday movement. The index opened with a gap up, then made a high of 10631, then a low of 10562 and finally closed at 10607, up 55 points. Reliance, TCS, Hind Unilever were the outperformers on Friday and significantly contributed to Nifty. A minor trading range was visible in Nifty with resistance at 10518 and support at 10228. This trading range broke out on the upside on Thursday and has maintained the breakout on Friday as well.
The long term trend is up. This trend tell us the direction of the market. However, we should watch out for a possible correction. We should be looking to buy on dips and breakouts.
We suggest going long in the Nifty with a stop below 10550. The target for this move is 10808.
Intraday traders should buy above 10635 or sell below 10550 with the opposite levels as stop losses.
BANK NIFTY:
Bank Nifty opened at 22101.75 with a gap up of 112 points. The index traded very choppy and narrow and closed at 21851.55 with a loss of 138 points. PSU and Private Banks both have performed same today and closed lower. Within the index, in terms of points, Axis Banks contributed highest while HDFC Bank contributed lowest. The index has been trading very narrow from the last two weeks were the narrowest. These narrow trading suggests us a sharp move is eminent and we might see it in the next week. Bank Nifty has extended its trading range. The new levels are 20900 as a support and 22500 as a resistance. We should take a breakout trade from this range.
Intraday traders should buy above 22150 or sell below 21750. Keep a stop of 300 points and target of 500 points.
TECHNICAL PICKS
| COMPANY . | CMP | B/S | RATIONALE |
| ASIANPAINTS | 1695.65 | BUY | The stock has corrected after a rally and made a strong base and can start an upmove. Traders should buy between 1685-1690 with a stop at 1675 and target of 1720. |
| BRITANNIA | 3538.35 | BUY | The stock has corrected after a rally and has started an up move. Traders should buy at CMP with a stop at 3900 and target of 3980. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| DRREDDY | 3900 CE | BUY | 153.10 | CMP | 140 | 183 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| BATAINDIA.Jul 30 | 1298.1 | 1.09 | 33 | 1992650 | MOTHERSUMI.Jul 30 | 97.45 | -6.48 | 23.09 | 46613000 | |
| IBULHSGFIN.Jul 30 | 226.95 | 0.78 | 29.98 | 17149200 | LICHSGFIN.Jul 30 | 273.7 | -3.42 | 22.38 | 7754000 | |
| BHEL.Jul 30 | 38.65 | 5.03 | 28.71 | 63084000 | CADILAHC.Jul 30 | 364.7 | -0.11 | 16.01 | 7746200 | |
| BEL.Jul 30 | 97.15 | 8.91 | 24.39 | 27367600 | SRTRANSFIN.Jul 30 | 694.2 | -0.83 | 9.85 | 2956850 | |
| BALKRISIND.Jul 30 | 1318.35 | 3.24 | 24.14 | 1102400 | VOLTAS.Jul 30 | 559.6 | -0.73 | 9.32 | 3720000 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| APOLLOHOSP.Jul 30 | 1380.55 | 1.28 | -12.37 | 1091000 | SAIL.Jul 30 | 30.8 | -1.91 | -11.81 | 51794000 | |
| BERGEPAINT.Jul 30 | 505.6 | 2.09 | -1.37 | 4527600 | GLENMARK.Jul 30 | 435.4 | -0.8 | -3.47 | 5630400 | |
| PAGEIND.Jul 30 | 20698.65 | 1.87 | -0.85 | 112290 | JUSTDIAL.Jul 30 | 383.35 | -0.94 | -3.11 | 1439200 | |
| GRASIM.Jul 30 | 629.85 | 1.6 | -0.8 | 18779600 | RAMCOCEM.Jul 30 | 641.85 | -0.77 | -2.17 | 1036150 | |
| AXISBANK.Jul 30 | 428.6 | 1.01 | -0.73 | 64310400 | EQUITAS.Jul 30 | 53.2 | -3.27 | -1.59 | 13201200 | |
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TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Bharti Airtel Limited | 581.45 | 4.12 | 20620014 | 7669556 | 56.63 | Nifty it | 15285.9 | 1.08 | 80076 | |
| Petronet Lng Limited | 272.75 | 4.38 | 11852877 | 1974646 | 55.62 | Nifty Energy | 14771.05 | 1 | 80076 | |
| Dabur India Ltd. | 467.05 | 0.43 | 2323284 | 1303648 | 54.99 | Nifty Auto | 6971.05 | 0.93 | 80076 | |
| Power Grid Corporation o | 177.6 | 1.43 | 12780027 | 4748330 | 54.53 | Nifty Fmcg | 30529.1 | 0.7 | 80076 | |
| Hindustan Unilever Ltd | 2173.7 | 1.02 | 1946326 | 1397165 | 53.97 | Nifty 50 | 10607.35 | 0.53 | 80076 | |
| Tata Consumer Products l | 396.45 | 1.45 | 3223338 | 1392462 | 53.41 | Nifty Pharma | 9963.4 | 0.2 | 80076 | |
| Nestleind | 16695.6 | -0.56 | 181658 | 77875 | 52.97 | Nifty Media | 1370.45 | -0.2 | 80076 | |
| Ntpc Limited | 94.5 | 1.18 | 15274892 | 7273249 | 50.74 | Nifty Metal | 2008.5 | -0.42 | 80076 | |
| Tech Mahindra Limited | 567.2 | 1.13 | 4007492 | 2951288 | 49.46 | Nifty Bank | 21852.4 | -0.46 | 80076 | |
| Marico Limited | 358.5 | 0.24 | 2319392 | 1976692 | 49.2 | India Vix | 25.77 | -2.8 | 80076 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| •INR: FX Reserves, USD on 10th July, 2020
•INR: Industrial Production (YoY) (May) on 10th July, 2020 |
•USA: ISM Non-Manufacturing PMI (Jun) on 6th July, 2020
•USA: PPI (MoM) (Jun) on 10th July, 2020 |
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NEWS UPDATES
| •Indiabulls Housing Finance has reported a 37 per cent decline in pre-tax profit for the March quarter (Q4FY20), on a stand-alone basis. The fall was driven by extra provisions made on account of Covid-19. The lender reported pre-tax profit of Rs 789 crore in Q4, against Rs 1,252 crore in the same period last year. Net profit declined 20.77 per cent to Rs 693.53 crore, from Rs 875.39 crore. The lender made extra provisions of Rs 700 crore, equivalent to 1 per cent of the loan book. It has raised more than Rs 9,000 crore in the last three months via bond issuances, term loans from banks, and securitization. The amount raised in the last three months represents 12.5 per cent of total liabilities.
•India is planning to launch the Covid-19 vaccine by August 15 this year, according to the head of the Indian Council of Medical Research (ICMR), the country’s premier, state-run medical research organization. Bharat Biotech, which is developing the vaccine, said in a statement: “We are working towards a safe and efficacious solution for Covid-19 and public health. Bharat Biotech will continue to abide to all necessary quality standards and safety guidelines towards vaccine clinical development.” •The reopening of commercial passenger flight services in a phased manner is not expected to help in recovery of domestic aviation industry in FY21, a report said. The domestic air traffic may shrink by 41-46 per cent and international travel demand by a negative 67-72 per cent year-on-year owing to the coronavirus pandemic, rating agency ICRA said on Friday. The domestic passenger flight services restarted from May 25 after a gap of two months owing to the coronavirus lockdown. Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name5 | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ASIIL | Audited Results | 6-Jul-20 | IFBAGRO | Audited Results | 6-Jul-20 |
| BALTE | Audited Results | 6-Jul-20 | IFBIND | Audited Results | 6-Jul-20 |
| BCLIL | Audited Results | 6-Jul-20 | IFINSEC | Audited Results;General | 6-Jul-20 |
| BMW | Audited Results | 6-Jul-20 | IMCAP | Audited Results | 6-Jul-20 |
| BODALCHEM | A.G.M.;General;Quarterly Results | 6-Jul-20 | INOVSYNTH | Audited Results | 6-Jul-20 |
| BRIJLEAS | Audited Results | 6-Jul-20 | NBCC | Audited Results;Final Dividend | 6-Jul-20 |
| DCW | Audited Results | 6-Jul-20 | NYSSACORP | Audited Results | 6-Jul-20 |
| DYNAMIND | Audited Results;Final Dividend | 6-Jul-20 | PVR | Right Issue of Equity Shares;General | 6-Jul-20 |
| ECLERX | Buy Back of Shares | 6-Jul-20 | RESTILE | Quarterly Results | 6-Jul-20 |
| HARME | General;Quarterly Results | 6-Jul-20 | SADBHIN | Audited Results | 6-Jul-20 |
| HPCOTTON | Audited Results | 6-Jul-20 | SUZLON | Audited Results;Quarterly Results | 6-Jul-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| ITC | 6-Jul-20 | Dividend – Rs. – 10.1500 | MAYURUNIQ | 8-Jul-20 | Final Dividend – Rs. – 1.00 |
| JSWSTEEL | 6-Jul-20 | Final Dividend – Rs. – 2.00 | ONWARDTEC | 8-Jul-20 | Final Dividend – Rs. – 1.50 |
| MINDTREE | 6-Jul-20 | Final Dividend – Rs. – 10.00 | ADVENZYMES | 9-Jul-20 | Final Dividend – Rs. – 0.60 |
| ASMTEC | 7-Jul-20 | Final Dividend – Rs. – 2.50 | HDFC | 9-Jul-20 | Dividend – Rs. – 21.00 |
| SAGARSOFT | 7-Jul-20 | Dividend – Rs. – 1.50 | HDFCAMC | 9-Jul-20 | Dividend – Rs. – 28.00 |
| BOMDYEING | 8-Jul-20 | Dividend – Rs. – 0.20 | LTI | 9-Jul-20 | Final Dividend – Rs. – 15.50 |
| LTTS | 8-Jul-20 | Final Dividend – Rs. – 13.50 | DRREDDY | 13-Jul-20 | Final Dividend – Rs. – 25.00 |
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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