NIFTY:

The Nifty opened with a gap down of almost 173 points in the morning at 11354 and then moved up in the first 30 minutes and then moved sideways. After that, the market goes up to a high of 11452. Around 1:30 PM, the Nifty began a sharp down move of almost 149 points and made its low at 11303. Finally the Nifty closed lower by 194 points at 11333. Bank, Pharma and Realty sectors have underperformed and closed lower by more than 2%. Nifty violates 11450 support but does not give a trade. We identified 11450 as a support level below which we should go short in the market. Traders may like to take a short position using put options. The position may be taken on a rally which touches 11450 approximately. The position may also be taken if Nifty falls below 11300. However if there is a gap down below 11300, then the position is cancelled.

Our stop for this trade is 11550 if we take a sell on rally when Nifty touches 11450. If the trade is taken when the Nifty goes below 11300 out stop will be 11400. If the Nifty were to go below 11300, it would then confirm a bearish head and shoulder with a target of 10800. While the index remains above 11300 we cannot have a confirmed opinion of a downtrend

BANK NIFTY:

Bank Nifty opened at 23119.15 with a gap down of 457 points. The index fell down further within the first ten minutes of trading and made its intraday low at 22876.90. Prices then saw a sharp rally and then a sharp decline for almost the same points and finally closed at 23084.20 with a loss of 492 points. Private and PSU Banks both have seen a decline and closed lower by more than 2%. Within the index, in terms of points Bandhan Bank contributed highest while Axis Bank the lowest. It was a volatile day where prices opened with a gap down, moved on both sides intraday and finally closed near its opening price. Our short trade was executed around 23120. Short term trend is sideways. We may see a correction here. First warning of an uptrend will come when prices break above 23500.

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TECHNICAL PICKS

COMPANY CMP B/S RATIONALE
 

LT

 

942.50

 

SELL

The stock is forming a bearish pattern and we may see a breakdown here. The stock be sold below 939 with a stop at 955 and for the target of 910
 

TECHM

 

748.20

 

BUY

The stock has given a breakout from a range. The stock can be bought above 756 with a stop at 744 and for the target of 785.

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TOP DELIVERY PERCENTAGE

 

Stocks

 

Price

 

%Chg

 

Total Qty

 

Delivery

 

Del %

 

% Change

Sectors Price Change % Quantity
Petronet Lng Limited 235.15 -1.65 3210677 2073393 57.78 India Vix 22.15 8.05 254486538
Hdfc Ltd. 1769.7 -2.16 4214148 1860874 55.54 Nifty Media 1645.5 -0.19 337924861
Mindtree Limited 1194.15 -0.97 867108 1841321 54.52 Nifty Auto 7996.55 -0.66 69466965
Hindustan Unilever Ltd 2124.65 -0.68 1590491 849686 53.42 Nifty it 18073.95 -1.5 1708156
Hdfc Bank Ltd. 1119.3 -1.03 11830686 5260793 53.05 Nifty Fmcg 30828.65 -1.56 880096
Colgate Palmolive (india 1362.05 -1.41 403206 253189 52.86 Nifty 50 11333.85 -1.68 48942244
Sbi Life Insurance Compa 834.55 -2.08 1069706 461994 51.99 Nifty Energy 15434.7 -1.91 2569709
Britannia Ind Ltd. 3705.85 -1.09 759852 213797 51.62 Nifty Pharma 11281.45 -2 48831800
Hcl Technologies Ltd. 700.8 -0.84 3354844 2726008 49.85 Nifty Bank 23011.5 -2.21 24051008
Ambuja Cements Ltd 208.5 -2.84 3950171 1635728 49.68 Nifty Metal 2451.35 -3.01 225008788

UPCOMING ECONOMIC DATA

Domestic                                                                                                                                                                         International
•      INR: Manufacturing Output (MoM) (Jul) on 11th September, 2020

•      IN R: Industrial Production (YoY) (Jul) on 11th September, 2020

•      USA: JOLTs Job Openings (Jul) on 9th September, 2020

•      USA: PPI (MoM) (Aug) on 10th September, 2020

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NEWS UPDATES

  • Future Retail Ltd plunged to a net loss of Rs. 470.61 crore in the March quarter compared to a net profit of Rs.203.17 crore in the year-ago, underscoring the financial stress at one of India’s prominent retail chains and curbs on operational hours at its stores due to the coronavirus pandemic. Standalone revenue from operations fell by 17.3% from Rs. 5,396.60 crore in the Q4FY20 to Rs. 4,445.35 crore during January-March 2020. Future Retail runs large-format retail stores, including FBB, Big Bazaar, Nilgiris and

  • Vodafone Idea board has approved a fund-raising plan to secure Rs 25,000 crore as concerns over the company’s finances deepen. Vodafone Idea said that it will raise up to Rs 15,000 crore through issue of equity shares or securities convertible into equity shares, Global Depository Receipts, American Depository Receipts, foreign currency convertible bonds, convertible debentures, warrants, composite issue of non-convertible debentures and

  • Reliance Industries Ltd (RIL) has offered all 13 financial and strategic investors of Jio Platforms the option to invest in its Reliance Retail Ventures Ltd (RRVL) unit, two people aware of the developments said. These investors, include Facebook, Google, KKR, Silver Lake and TPG. They helped RIL amass a total of Rs.1.52 trillion in the past few months by picking up a combined 33% stake in its digital unit, Jio Platforms

  • BPCL has offered its employees stock options as part of reward ahead of its The stock options are being issued to the staff at one-third of the market price.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BHASKAGR Quarterly Results 7-Sep-20 INDOCRED General 7-Sep-20
BIMETAL Quarterly Results 7-Sep-20 KINGSINFR A.G.M.;General;Quarterly Results 7-Sep-20
CGPOWER Quarterly Results 7-Sep-20 KJMCFIN Quarterly Results 7-Sep-20
CHLLTD A.G.M.;General;Quarterly Results 7-Sep-20 MONARCH A.G.M.;General 7-Sep-20
EIHOTEL Right Issue of Equity Shares 7-Sep-20 NAUKRI Quarterly Results 7-Sep-20
FAZE3Q Quarterly Results 7-Sep-20 PARAGMILK Issue Of Warrants;Quarterly Results 7-Sep-20
FLFL Quarterly Results 7-Sep-20 PGFOILQ Quarterly Results 7-Sep-20
FMNL Quarterly Results 7-Sep-20 RPPINFRA General;Quarterly Results 7-Sep-20
GENPHARMA Quarterly Results 7-Sep-20 SANWARIA Quarterly Results 7-Sep-20
GICRE General;Quarterly Results 7-Sep-20 SERVOTEACH Quarterly Results 7-Sep-20
GUJSTATFIN Quarterly Results 7-Sep-20 SUNTECHNO Quarterly Results 7-Sep-20
HARISH Audited Results;Preferential Issue 7-Sep-20 UNITEDINT Quarterly Results 7-Sep-20
HINDOILEXP General;Quarterly Results 7-Sep-20 ZUARIGLOB General;Quarterly Results 7-Sep-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ELECTCAST 7-Sep-20 Final Dividend – Rs. – 0.30 SUBROS 7-Sep-20 Final Dividend – Rs. – 0.80
HIKAL 7-Sep-20 Final Dividend – Rs. – 0.20 TEXINFRA 7-Sep-20 Final Dividend – Rs. – 0.20
HIRECT 7-Sep-20 Final Dividend – Rs. – 0.80 GUJHOTE 8-Sep-20 Dividend – Rs. – 2.50
KKCL 7-Sep-20 Final Dividend – Rs. – 1.00 HERCULES 8-Sep-20 Dividend – Rs. – 1.80
NCC 7-Sep-20 Dividend – Rs. – 0.20 NITINSPIN 8-Sep-20 Dividend – Rs. – 0.60
PANAENERG 7-Sep-20 Final Dividend – Rs. – 4.00 RAJPALAYAM 8-Sep-20 Dividend – Rs. – 1.00
POLYSPIN 7-Sep-20 Stock Split From Rs.10/- to Rs.5/- STOVACQ 8-Sep-20 Dividend – Rs. – 60.00
POLYSPIN 7-Sep-20 Bonus issue 1:4 UMANGDAIR 8-Sep-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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