outlookNIFTY:

The Nifty again opened with a gap up of almost 80 points around 11185 then moved sideways for half of the day. The Nifty had a choppy day, first moving sideways then moving up, then down and then finally having a last hour rally which gained more than 50 points to close above the open. Around 12:15, the Nifty started  a handsome rally which led to gain almost 95 points in an hour and made a high of 11256, then prices saw a decline and touched a low of 11127.30. Finally the Nifty closed near the opening price at 11200. The Nifty has been moving up rather steadily. In the uptrend we have seen at least two strong effort to being the Nifty down. While the ultimate result of these efforts was the Nifty found support and rallied again.

The Nifty has a narrow range day trading in a relatively tight boundary when compared to the trade in the last four days. There is a resistance at 11237 and support at 10973. If the Nifty goes above 11237, we can consider taking a long position. In the unlikely event that the Nifty falls below 10973, we should go in for a short position. Keep a stop of 50 points in both trades.

BANK NIFTY:

Bank Nifty opened at 21644.25 with a gap up of 88 points. The Index first traded sideways and then saw a sharp rally, followed by a decline and finally a rally in the trading hour. Private banks have performed well and closed higher while PSU Banks have closed  lower. Within the index, in terms of points ICICI Banks contributed highest while Bandhan Bank the lowest. Bank Index holds its support around 21000 and remained above this. A trading range of 21000-22000 is now visible. A major trade will be seen on a breakout. Although intraday traders can buy above 21900 or sell below 21300 with a stop of 300 points and target of 500 points.

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TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
HCLTECH 704.90 BUY The stock has been trading in a range and we may now see a breakout upwards. The stock can be bought  above 706 with a stop at 695 and for the target of 725.
UPL 463.90 BUY The stock has been trading in a range and has now given a  breakout upwards. The stock can be bought between at CMP with a stop at 458.50 and for the target of  473.30.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
RELIANCE 2120 CE BUY 106.60 CMP 95 125 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
FEDERALBNK.Aug 27 52.7 0.38 35.97 81744500 CANBK.Aug 27 100.45 -2.48 40.35 16940000
M&MFIN.Aug 27 128 3.1 16.75 19207188 MUTHOOTFIN.Aug 27 1216.45 -3.86 35.16 5238750
NIITTECH.Aug 27 2043.6 5.98 14.73 517125 NAUKRI.Aug 27 3350 -0.22 30.27 954250
TORNTPHARM.Aug 27 2984 4.23 14.36 2018500 MANAPPURAM.Aug 27 157.2 -1.81 26.17 25656000
RECLTD.Aug 27 107.05 5.21 12.96 22176000 BATAINDIA.Aug 27 1267.8 -4.36 21.4 2957900
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
SRTRANSFIN.Aug 27 663.45 2.73 -5.84 3116224 GODREJPROP.Aug 27 891.75 -1.57 -14.94 399750
UPL.Aug 27 459.8 2.06 -2.8 14497600 MFSL.Aug 27 542.7 -1.82 -4.29 2379000
TATAMOTORS.Aug 27 117.6 1.38 -2.43 96210300 ESCORTS.Aug 27 1122.05 -2.48 -4.22 2449700
POWERGRID.Aug 27 174.8 0 -2.37 13508000 TORNTPOWER.Aug 27 329 -0.68 -2.35 1374000
ITC.Aug 27 196.2 1.16 -1.61 84784000 PVR.Aug 27 1119 -1.33 -2.31 1599510

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Itc Ltd. 195.35 1.32 17886231 37434763 76.76 Nifty it 18188.75 1.78 83829
Petronet Lng Limited 246.2 -0.46 2502767 1794191 62.54 Nifty Metal 2294.75 1.37 83829
Nestleind 16677.15 1.05 105889 57990 59.32 Nifty Fmcg 31287.6 1.37 83829
Sbi Life Insurance Compa 875.4 1.68 907558 728703 53.39 Nifty Pharma 11403.65 1.24 83829
Hindustan Unilever Ltd 2220.45 1.18 1824540 901406 52.55 Nifty 50 11200.15 0.89 83829
Pidilite Industries Ltd 1331.95 1.29 2362657 994687 51.69 Nifty Bank 21642.6 0.62 83829
Icici Prudential Life In 471.6 2.14 2910502 1087469 51.49 Nifty Energy 15408.15 0.52 83829
The Ramco Cements 685.45 0.09 1259867 517284 50.4 Nifty Auto 7498.25 0.12 83829
Hdfc Life Insurance Comp 606.9 0.31 2596375 991768 48.33 Nifty Media 1336.7 0.1 83829
Britannia Ind Ltd. 3857.65 0.2 786063 274364 48.2 India Vix 23.15 -1.78 83829

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR:  FX Reserves, USD on 7th August, 2020

•INR:  Industrial Production (YoY) (Jun) on 11th August, 2020

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

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

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NEWS UPDATES

•The Reserve Bank of Indian (RBI) on Thursday decided to keep the benchmark repo rate unchanged at 4 per cent, already at the lowest since 2000, and reverse repo rate at 3.35 per cent. In view of the Covid-19 pandemic and the resultant stress in the system, the central bank also decided to allow lenders to provide a restructuring facility on some loans that were standard as on March 1, 2020. An expert committee will be set up under K V Kamath to thrash out modalities and look into resolution plans of eligibile borrowers.

•Glenmark Pharmaceuticals on Thursday said it will launch a 400 mg version of oral antiviral drug FabiFlu for the treatment of mild and moderate Covid-19 in India. Currently, the drug is available in 200 mg dosage. The higher strength will improve compliance for patients by effectively reducing the number of tablets required per day.

•Adani Power’s consolidated net loss widened to Rs 682.46 crore in the June quarter, mainly due to lower revenues on account of low power demand during the lockdown. The total income of the company in the quarter declined to Rs 5,356.19 crore, from Rs 8,014.50 crore in the year-ago period

•Tata Motors on Thursday has launched a subscription model for electric version of its compact SUV Nexon, making it available to customers at a fixed monthly rental. Designed to make electric vehicles (EVs) more accessible to a rapidly growing base of future-conscious citizens, the company is making available its flagship Nexon at an all-inclusive fixed rental starting at Rs 41,900 per month.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ABBOTINDIA Quarterly Results 7-Aug-20 DICIND Quarterly Results 7-Aug-20
ADANITRANS Quarterly Results 7-Aug-20 EXCEL Quarterly Results 7-Aug-20
ALEMBICLTD Quarterly Results 7-Aug-20 FDC Buy Back of Shares;General;Results 7-Aug-20
ALKEM Quarterly Results 7-Aug-20 FINOLEXIND Quarterly Results 7-Aug-20
AMARAJABAT Quarterly Results 7-Aug-20 KAJARIACER Quarterly Results 7-Aug-20
AMBER General;Quarterly Results 7-Aug-20 M&M Quarterly Results 7-Aug-20
BALRAMCHIN Quarterly Results 7-Aug-20 MGL Quarterly Results 7-Aug-20
BATAINDIA Quarterly Results 7-Aug-20 MONTECARLO Quarterly Results 7-Aug-20
BEML Quarterly Results 7-Aug-20 NAUKRI General;Preferential Issue of shares 7-Aug-20
BIRLACORPN Quarterly Results 7-Aug-20 RAMCOIND Quarterly Results 7-Aug-20
CGPOWER Preferential Issue of shares 7-Aug-20 RECLTD General;Quarterly Results 7-Aug-20
CIPLA Quarterly Results 7-Aug-20 SIEMENS Quarterly Results 7-Aug-20
CONCOR General;Quarterly Results 7-Aug-20 SUDARSCHEM Quarterly Results 7-Aug-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
CHEMCRUX 7-Aug-20 Final Dividend – Rs. – 1.00 VINDHYATEL 10-Aug-20 Dividend – Rs. – 10.00
COMPUAGE 7-Aug-20 Dividend – Rs. – 0.20 ATFL 11-Aug-20 Final Dividend – Rs. – 3.00
NAVINFLUOR 7-Aug-20 Final Dividend – Rs. – 3.00 NUCLEUS 11-Aug-20 Interim Dividend – Rs. – 3.00
ORIENTREF 7-Aug-20 Final Dividend – Rs. – 2.50 ORIENTCQ 11-Aug-20 Final Dividend – Rs. – 6.00
ALKEM 10-Aug-20 Final Dividend – Rs. – 3.00 PONNIERODE 11-Aug-20 Dividend – Rs. – 4.00
ASHIANA 10-Aug-20 Final Dividend – Rs. – 0.30 TTFL 11-Aug-20 Bonus issue 14:10
HONAUT 10-Aug-20 Final Dividend – Rs. – 75.00 AUTOAXLES 12-Aug-20 Final Dividend – Rs. – 0.80
UNIVCABLES 10-Aug-20 Final Dividend – Rs. – 2.00 NATCAPSUQ 12-Aug-20 Dividend – Rs. – 0.60

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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