outlookNIFTY:

The Nifty opened with a minor gap up of 26 points at 11359 and then moved down at the low of the day at 11251 and then moved sideways throughout the day. Around 2:00 PM the Nifty fell almost 80 points in 30 minutes and after that Nifty moved up and made high of the day at 11381. Finally the Nifty closed higher by 22 points at 11355. Yesterday’s intraday action was almost like a nothing day as the index closed almost at its opening price.

On Monday we set up a possible short trade which required us to go short on a rally touching 11450 or on a decline that goes below 11300. The index did go below 11300 during the day, setting up a short sell at 11300. A late bounce saw the Nifty rally almost 100 points from the lows of 11260 and close with minor gains. The stop loss for this short trade is 11400 and traders should exit at this level.

We also suggest taking a long position if the Nifty crosses 11400. The stop for such a position should be at 11340. The target being around 11500.

BANK NIFTY:

Bank Nifty opened at 23036.25 with a gap down of just 48 points. The index traded very choppily and narrow. Prices have closed at 22945 with slight losses. Private banks have relatively underperformed and closed lower by 0.50%. Within the index, in terms of points  AXIS Bank contributed highest HDFC Bank the lowest. Bank Nifty made its swing high at 25232.60 on Monday last week. From that point, prices have seen a decline till yesterday’s low at 22716.25 down by almost 10% from its swing highs. Strong support is visible around 22500-23000.

Prices have reached this zone. Now  close below 22500 may suggest deeper corrections while holding of this support would indicate a rally. We need to wait for this confirmation.

Intraday traders can look at buy above 23150 or sell below 22700.

Trade AnyTime AnyWhere With Elite Empower Mobile App

Elite-Empower-App-Promotional-Banner-img1

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
DLF 152.15 SELL The stock has given a breakdown from a range. The stock can be sold between 153-154 with a stop at 157 and for the target of 146.
TCS 2327.05 BUY The stock has given a breakout from a range. The stock can be bought  at CMP with a stop at 2310 and for the target of  2355-2380

Get All Your Mutual Fund Portfolio Retuns on Your Mobile by Elite Kuber App


Elite-Kuber-Mutual-Fund-Promotional-Banner-img

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
ZEEL 220 CE BUY 15.20 CMP 10 28 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
RAMCOCEM.Sep 24 715.05 0.72 14.7 1332800 BALKRISIND.Sep 24 1273.1 -1.73 12.39 1843200
ASIANPAINT.Sep 24 1988.85 1.13 9.72 3896100 HEROMOTOCO.Sep 24 2877 -1.68 10.72 2416500
TATASTEEL.Sep 24 423.4 0.11 7.52 22831000 MANAPPURAM.Sep 24 145.95 -4.42 10.6 18972000
INFRATEL.Sep 24 226.55 4.96 6.66 16312800 GODREJCP.Sep 24 653 -0.87 10.11 4910000
ASHOKLEY.Sep 24 70.2 0.29 6.38 34533000 NTPC.Sep 24 93.05 -2.26 9.53 47281500
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
IDEA.Sep 24 12.35 2.49 -3.97 400120000 APOLLOHOSP.Sep 24 1649.6 -0.33 -3.2 878000
BHEL.Sep 24 38.8 0.13 -2.18 67011000 JINDALSTEL.Sep 24 205 -2.84 -3.06 24535000
ITC.Sep 24 190.45 1.47 -1.99 95632000 TORNTPOWER.Sep 24 331.55 -0.87 -2.32 2274000
MOTHERSUMI.Sep 24 114 0.93 -1.48 25564000 JUBLFOOD.Sep 24 2235.7 -0.27 -2.28 2524500
PNB.Sep 24 34 1.04 -0.83 50470000 INDIGO.Sep 24 1230.15 -1.99 -1.33 2489500

Get Stock Market Recommendation By Our Research Analysts

Market-Research-Promotional-Banner-img5

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Sbi Life Insurance Compa 838.45 0.47 808907 678734 63.45 Nifty Fmcg 31003.85 0.57 81648
Bharti Airtel Limited 515.45 -1.47 16147428 15664347 55.78 Nifty it 18176.8 0.57 81648
Ambuja Cements Ltd 210.55 0.98 4220405 2135845 54.07 Nifty Media 1653.6 0.49 81648
Hdfc Life Insurance Comp 591.85 2.99 3374335 1366214 52.17 Nifty 50 11355.05 0.19 81648
Hdfc Ltd. 1791.1 1.21 4073465 2187135 51.9 Nifty Metal 2450.05 -0.05 81648
Hindustan Unilever Ltd 2162.6 1.79 2363028 822931 51.74 Nifty Pharma 11269.85 -0.1 81648
Itc Ltd. 189.1 1.29 32663990 21359144 51.61 Nifty Bank 22945.05 -0.29 81648
Petronet Lng Limited 236.9 0.74 3009426 1626979 50.67 Nifty Auto 7957.85 -0.48 81648
Infosys Limited 925.05 0.64 6700450 4241995 49.04 Nifty Energy 15356.45 -0.51 81648
Godrej Cons Products Ltd 651.7 -0.62 1257645 380234 48.2 India Vix 22.01 -0.64 81648

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

Open Your Demat Account to Invest in Upcoming IPO’sDemat-and-Trading-Account-Promotion-Banner

NEWS UPDATES

•Maruti Suzuki India, India’s largest carmaker, on Monday said its total production in August increased by 11% to 1,23,769 units. The company had produced a total of 1,11,370 units in the same month last year, Maruti Suzuki India (MSI) said in a statement. Passenger vehicles production stood at 1,21,381 units last month as compared to 1,10,214 units in August 2019, a growth of 10%.

•The Delhi High Court on Monday asked cash-strapped airline SpiceJet to deposit within six weeks an additional Rs 243 crore in connection with a share-transfer dispute with ex-promoter Kalanithi Maran, owner of Sun group. Maran has the right to seek status quo on SpiceJet’s shareholding if the amount is not deposited within the deadline, meaning the company won’t be able raise new capital from the market through issuance of fresh shares or stake sale.

•Addressing the media, Managing Director and Chief Executive Officer of Vodafone Idea Ravinder Takkar elaborated on the significance of the new brand—Vi (pronounced ‘we’). ‘’The unified brand powers our tomorrow together,’’ he said indicating that the partners would stay invested. Later in the Q&A session, Takkar reserved his comment on whether the two partners will participate in the proposed Rs 25,000-crore fundraising exercise announced last week. He however was clear on the tariff front—prices will have to increase, he said. ‘’We are never shy of raising tariff…and others have followed us often.’’

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BALPHARMA Quarterly Results 8-Sep-20 SKPMIL Quarterly Results 8-Sep-20
CESC Quarterly Results 8-Sep-20 SMLISUZU Quarterly Results 8-Sep-20
CHDCHEM Quarterly Results 8-Sep-20 SPENCER Quarterly Results 8-Sep-20
FCONSUMER Quarterly Results 8-Sep-20 SYMBIOX General 8-Sep-20
FRANKLIN General 8-Sep-20 SYNTHFO Quarterly Results 8-Sep-20
MAFATIND Quarterly Results 8-Sep-20 TAALENT Quarterly Results 8-Sep-20
MOTHERSUMI General 8-Sep-20 TEXRAIL Preferential Issue; Results;Rights Issue 8-Sep-20
NIDL A.G.M.;General;Quarterly Results 8-Sep-20 TRITON General 8-Sep-20
PIXTRANS Quarterly Results 8-Sep-20 VAARAD Quarterly Results 8-Sep-20
RAJPACK Quarterly Results 8-Sep-20 VAICC Quarterly Results 8-Sep-20
SHARONBIO Quarterly Results 8-Sep-20 VIAANINDUS Results;Reduction of Capital 8-Sep-20
SHRJAGP General;Quarterly Results 8-Sep-20 WELLNESS General 8-Sep-20
SIMPLEX Quarterly Results 8-Sep-20 ZENLABS Quarterly Results 8-Sep-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
GUJHOTE 8-Sep-20 Dividend – Rs. – 2.50 HSIL 9-Sep-20 Dividend – Rs. – 3.00
HERCULES 8-Sep-20 Dividend – Rs. – 1.80 IGARASHI 9-Sep-20 Final Dividend – Rs. – 1.20
NITINSPIN 8-Sep-20 Dividend – Rs. – 0.60 SCI 9-Sep-20 Final Dividend – Rs. – 0.7500
RAJPALAYAM 8-Sep-20 Dividend – Rs. – 1.00 TNPL 9-Sep-20 Final Dividend – Rs. – 6.00
STOVACQ 8-Sep-20 Dividend – Rs. – 60.00 UFLEX 9-Sep-20 Dividend – Rs. – 2.00
UMANGDAIR 8-Sep-20 Dividend – Rs. – 0.50 WSFIN 9-Sep-20 Final Dividend – Rs. – 1.50
GSPL 9-Sep-20 Dividend – Rs. – 2.00 AARTIIND 10-Sep-20 Final Dividend – Rs. – 1.00
GUJGAS 9-Sep-20 Dividend – Rs. – 1.2500 BHATIA 10-Sep-20 Final Dividend – Rs. – 4.00

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


For Daily Share Market Updates, Daily debt market review, Market Research Analysis reports, Weekly Techno-Funda Report, Fundamental Analysis Report, Monthly Recommended stock Picks, Equity Trading Tips, Upcoming IPO/NFO/Bonds/Ncd’s updates & other related information Subscribe our research plan