outlookNIFTY:

The Nifty opened almost unchanged from daybefores close and then spent half the day trying to cross 10800 decisively. At some point apparently the bears got stronger or the bulls gave up, or probably both events happened. The Nifty fell almost 60 points in five minutes and this was a clear signal that the bulls were giving up. The Nifty finally closed at 10705, almost at the lows of the day. The Nifty recorded a low of 10676. In the early morning trading when it was trying to cross 10800 , it did go up to 10847 but never sustained these higher levels. While its a little early to say, it does appear that some kind of a period of consolidation/correction has started.  A fresh trading range is now visible which is probably easier to trade given the change in circumstances. Support for this range comes at 10603 and resistance at 10819. All markets go through a correction; its just a question of when they will do so. Until then we should go with the trend.

If the Nifty goes below 10603, it gives an opportunity to go short as well, for the target of 10386.

BANK NIFTY:

Bank Nifty opened at 22700.90 with a gap up of 129 points. The index rallied further up and made its intraday high at 23080.60. A sharp decline of more than 500 points came in the last hour of trading. The index finally closed at 22561.15 without much of change. PSU Banks have performed well and closed higher by 2.34%. Within the index, in terms of points, Indusind Bank contributed highest while ICICI Bank the lowest. Daybefore we saw a breakout from a trading range. The index continued that momentum with a gap up opening and then an intraday rally. However the last hour of trading has seen some sharp decline but prices remained above the breakout level of 22500. Intraday traders should buy on a dip towards 22400 or breakout above 22800.

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TECHNICAL PICKS

COMPANY  . CMP B/S RATIONALE
HINDUNILVR 2186.05 BUY The stock has been consolidating in  a narrow range for  a few days and has given an upwards breakout. The stock can be bought at CMP with a stop loss at 2170 and for the target of  2220.
HDFC BANK 1110.35 SELL The immediate trend of the stock is down. After a  short period of consolidation, the stock has given a breakdown. The stock can be sold at CMP with a stop at 1120 for the target of 1080

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
BERGER PAINT 500 PE BUY 19 CMP 15 29 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
CANBK.Jul 30 109.2 4.3 45.73 14070000 CUMMINSIND.Jul 30 411.25 -4.29 22.18 2155200
SAIL.Jul 30 35.3 7.46 43.46 61085000 BALKRISIND.Jul 30 1258.75 -4.12 13.71 1293600
TATACHEM.Jul 30 314.25 0.27 32.34 3552000 BANKNIFTY.Jul 30 22568.7 -0.15 11.64 1530925
SBIN.Jul 30 192.5 1.74 15.32 124335000 ZEEL.Jul 30 171.7 -4.77 11.5 24075000
BANKBARODA.Jul 30 52.85 3.93 14.61 45870800 L&TFH.Jul 30 70.85 -1.12 11.14 35332800
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
TATASTEEL.Jul 30 335.05 1.18 -4.36 15612800 EQUITAS.Jul 30 56.55 -4.64 -17.11 13072000
NIITTECH.Jul 30 1536.4 1.42 -1.84 561000 ESCORTS.Jul 30 1087.95 -1.78 -9.69 2666400
DRREDDY.Jul 30 3873.2 1.56 -1.4 3616250 BHEL.Jul 30 41.2 -3.51 -9.2 49518000
GLENMARK.Jul 30 429 1.78 -1.28 5126700 JUSTDIAL.Jul 30 374.15 -0.91 -5.95 1394400
PEL.Jul 30 1420 0.78 -1.02 3527700 ASHOKLEY.Jul 30 51.95 -0.29 -4.89 41490000

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Unilever Ltd 2186.05 1.48 3350115 1161326 57.64 India Vix 26.1 3.98 81951
Hdfc Life Insurance Comp 581.95 -0.11 4280870 2144590 55.71 Nifty Metal 2054.3 1.57 81951
Marico Limited 349.4 -0.85 1919724 1447445 55.67 Nifty Fmcg 30773.9 0.84 81951
Ntpc Limited 91 -1.67 26257436 9947661 52.95 Nifty Pharma 9948.5 0.71 81951
Nestleind 16802.05 -0.65 218721 73299 51.85 Nifty Bank 22584.65 -0.19 81951
Petronet Lng Limited 264.15 1.11 4263550 2452185 50.75 Nifty 50 10705.75 -0.87 81951
Container Corp Of India 435.6 1.3 3436605 495889 49.5 Nifty Media 1368.25 -1.56 81951
Mahanagar Gas Limited 1007.35 -2.06 1576167 972476 48.87 Nifty it 15513.65 -1.72 81951
Itc Ltd. 196.3 1.06 21276389 15220009 48.65 Nifty Auto 7059.35 -1.95 81951
Bharti Airtel Limited 561.3 -1.03 9404763 6074198 48.5 Nifty Realty 203.7 -1.95 81951

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR:  FX Reserves, USD on 10th July, 2020

•INR:  Industrial Production (YoY) (May) on  10th July, 2020

•USA: JOLTs Job Openings (Apr) on 9th June, 2020

•USA: PPI (MoM) (Jun) on  10th July, 2020

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NEWS UPDATES

•GMR Group has concluded a deal to complete 49% stake sale in its airport arm to Paris-based Groupe ADP, the GMR Group said in a statement on Wednesday. As per the revised share purchase agreement, Groupe ADP’s second tranche of the investment for picking up 24.01% stake in GMR Airports Limited (GAL) has been structured in two parts.

•Nestle India plans to focus on core categories, including milk & nutrition, chocolates & confectionery and coffee & beverages to explore growth and expansion opportunities in these segments, a top company official said. The company believes that during this time and in the post COVID-19 world, consumers would seek trust, quality, intervention of science and technology, better nutrition and better immunity for the family.

•Tata Motors has introduced financing scheme for Tiago, Nexon, and Altroz under which customers can avail six-month EMI holiday. Under the scheme, customers can now make zero down payment, avail a six-month EMI holiday (only interest needs to be serviced monthly) and access up to 100 per cent on-road funding for a loan tenure of five years.

•Shares of IOL Chemicals & Pharmaceuticals hit a new high of Rs 592, surging 7 per cent on the BSE on Wednesday after CARE Ratings upgraded the ratings of the company’s bank facilities. The rating agency has also withdrawn the rating assigned to the long-term loan facility of IOL Chemicals as the company has repaid term loan in full and there is no outstanding under the said loan as on date.

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

BOARD MEETINGS

Company Name5 Purpose Ex-Date Company Name Purpose Ex-Date
AMITSEC General 9-Jul-20 KABRAEXTRU Audited Results 9-Jul-20
ARIHCAPM Audited Results;Dividend;General 9-Jul-20 PNB General 9-Jul-20
ARVINDFASN Audited Results 9-Jul-20 RANDER Audited Results;General 9-Jul-20
AUSTENG Audited Results 9-Jul-20 SADBHAV Audited Results;Final Dividend 9-Jul-20
BRADYM Voluntary Delisting of Shares 9-Jul-20 SBL Audited Results 9-Jul-20
CNOVAPETRO Audited Results 9-Jul-20 SKIL Audited Results 9-Jul-20
HPL Audited Results;Final Dividend 9-Jul-20 SWARNSAR Audited Results 9-Jul-20
HRYNSHP Audited Results 9-Jul-20 TCS Interim Dividend;Quarterly Results 9-Jul-20
INDCTST Audited Results 9-Jul-20 TREEHOUSE Audited Results 9-Jul-20
INTECCAP Audited Results 9-Jul-20 TTIL Audited Results;Quarterly Results 9-Jul-20
KABRADG General 9-Jul-20 VASINFRA A.G.M.;General 9-Jul-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ADVENZYMES 9-Jul-20 Final Dividend – Rs. – 0.60 ELANTAS 13-Jul-20 Final Dividend – Rs. – 5.00
HDFC 9-Jul-20 Dividend – Rs. – 21.00 TATAELXSI 13-Jul-20 Final Dividend – Rs. – 16.50
HDFCAMC 9-Jul-20 Dividend – Rs. – 28.00 WIREFABR 13-Jul-20 Final Dividend – Rs. – 0.10
LTI 9-Jul-20 Final Dividend – Rs. – 15.50 INFRATRUST 14-Jul-20 Income Distribution (InvIT)
PVR 9-Jul-20 Right Issue of Equity Shares KUANTUM 14-Jul-20 Stock  Split From Rs.10/- to Rs.1/-
SRTRANSFIN 9-Jul-20 Right Issue of Equity Shares SKFINDIA 14-Jul-20 Special Dividend – Rs. – 130.00
DRREDDY 13-Jul-20 Final Dividend – Rs. – 25.00 TATAPOWER 14-Jul-20 Dividend – Rs. – 1.55

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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