The NIFTY opened at 17898.65 with a gap down of 46 points. The index continued moving downwards but found support around 17850 and bounced up sharply. Prices quickly erased all the losses and went above 17950 but found strong resistance there and turned down. A decline again found support around 17850 and prices bounced up after recording their intraday low at 17852.05. The index rallied sharply towards the end of today’s trading session, recorded its intraday high at 17968.45, and finally closed at 17956.50 near its daily highs with a gain of 12.25 points or 0.07% up. REALTY outperformed today and ended with a gain of 1.55% followed by METAL which gained 0.92%. OIL GAS and IT underperformed today and ended with a loss of over half percent. The short-term trend is up. We have a support level of around 17700 in the NIFTY index. A close below this level will indicate avoid buying. Strong support is visible around the 17450 – 17500 zone. A close below this support will suggest us taking short trade in the index. A likely resistance should now emerge around the 18000 mark. We are anticipating a dip or some kind of consolidation here since the index has seen a sharp upside move in the past few weeks. We should now avoid trading the index and wait for an adequate setup to emerge.
The BANK NIFTY opened at 39324.40 with a gap down of 92 points. In its initial trade, the index recorded its intraday low at 39291.15 and started moving higher. A sharp rally brought prices above 39500 and then the index turned down towards 39300. Prices have again moved up, went above 39600 and recorded their intraday high at 39703.70. The index finally closed at 39670.80 again 254 points. PVT BANKS have outperformed today and ended with a gain of 0.64%. PSU BANKS have underperformed today and ended with a loss of 0.23%. Within the index, in terms of points, KOTAK BANK contributed the highest on the upside while AXIS BANK contributed the lowest. It was a volatile day today in the index where prices have seen moves in both directions in the first half while rallied sharply in the second half and closed which was a gain of a half percent. The last two days of DOJI Pattern resolve on the upside today and the index has ended near its daily highs. The short-term trend is up and prices are now heading towards a psychological resistance at the 40000 mark. Support is visible at around 38000. We should now wait for a dip or some kind of consolidation for fresh trading opportunities
|ADANIENT||2272||BUY||The stock is on the verge of giving the breakout on the intraday as well as the daily chart. The stock can be buy with a stop loss of 2255 and for the target of 2320.|
|DR REDDY||4390||SELL||The immediate trend of the script is bearish. There is a negative cross over of moving averages as well as of the indicators therefore it can be sell below 4385 with a stop loss of 4430 and target of 4300.|
|Stock Name||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|DEEPAKNTR||1750 CE||BUY||70.90||CMP||55||100||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|PFC.22.07 Jul||107.3||0||2.92||31062000||ONGC.22.07 Jul||121.4||-4.18||10.28||86902200|
|SYNGENE.22.07 Jul||550.65||0||2.75||935000||BALRAMCHIN.22.07 Jul||349.8||-3.48||10||6705600|
|LT.22.07 Jul||1544.3||0.02||8.48||10452600||NMDC.22.07 Jul||107.1||-1.43||5.87||56079000|
|RAIN.22.07 Jul||152.8||0.03||1.44||7385000||IOC.22.07 Jul||72.95||-0.95||12.04||65705250|
|PVR.22.07 Jul||1884.5||0.04||3.07||2023604||COALINDIA.22.07 Jul||181||-0.9||6.33||32827200|
|Short Covering||Long Unwinding|
|TATAPOWER.22.07 Jul||214.5||0.52||-0.2||80200125||NTPC.22.07 Jul||139.15||-1.52||-0.2||69682500|
|FEDERALBNK.22.07 Jul||93.7||0.7||-1.16||70070000||POWERGRID.22.07 Jul||211.85||-1.12||-0.54||55269000|
Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Ipca Laboratories Ltd.||944.05||1.72||378393||0||75.46||Nifty50||15989.8||1.13||77082|
|Oracle Fin Serv Soft Ltd||3095||1.43||46283||0||69.88||Niftybank||34324.25||1.5||77082|
|Gujarat State Petronet l||227.2||0.33||1123636||0||69.68||Nifty it||28007.6||1.13||77082|
|Ambuja Cements Ltd||368.25||0.44||2209031||0||69.41||India Vix||20.27||-2.5||77082|
|Infosys Limited||1491.65||1.06||5209162||0||69.18||Nifty Fmcg||40740.15||2.64||77082|
|Honeywell Auto India Ltd||34787.95||5.47||8072||0||68.48||Nifty Pharma||12331.15||0.8||77082|
|Ultratech Cement Limited||5828.05||1.71||371948||0||67.03||Nifty Realty||400.75||2.27||77082|
|Icici Bank Ltd.||725.95||0.9||12163533||0||67.01||Nifty Auto||11952.2||2.6||77079|
|Kotak Mahindra Bank Limi||1704.5||2.49||5572949||0||66.56||Nifty Metal||4665.3||0.03||77079|
|Hindustan Unilever Ltd||2498.4||4.03||4770394||0||65.58||Nifty Financial Services||15980.25||1.6||77088|
UPCOMING ECONOMIC DATA
|INR: FX Reserves, USD on 19th August, 2022
INR: GDP Quarterly (YoY) (Q1) on 31st August, 2022
| USD : New Home Sales (Jul) on 23rd August, 2022
USD : Core Durable Goods Orders (MoM) (Jul) on 24th August, 2022
India’s stock benchmarks edged higher with Nifty extending its winning streak for eighth day, longest in 21 months, aided by gains in banking, capital goods, realty, telecom, power and utilities stocks. The Sensex and Nifty swung between gains and losses for the bulk of the session before closing near day’s high.
Tata Motors wins order of 921 electric buses from Bengaluru Metropolitan Transport Corporation. Tata Motors will supply, operate and maintain 12-metre electric buses for a period of 12 years, as per the contract.
Shares of Power Mech Projects Ltd. rose to a record high after the firm received orders worth more than Rs 6,100 crore from the Adani Group. The Hyderabad-based construction engineering company will install 15 flue gas desulphurisation units at Adani’s coal-based units located at Mundra, Tiroda, Kawai and Udupi, according to an exchange filing.
India’s largest aggregator of airport lounge services will soon be boarding the flight to Dalal Street. Dreamfolks Services’ initial public offering is expected to open to subscription on August 24, and close on August 26. The anchor portion for the issue will open for bidders a day prior – on August 23.
Source: Economic Times, Indian Express, Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Meeting Date||Company Name||Purpose||Meeting Date|
|GENSOL||General;Preferential Issue of shares;Rights Issue||19-Aug-22||SAGRSOY-B||General||20-Aug-22|
|GORANIN||Scheme of Arrangement||19-Aug-22||SOBME||General;Quarterly Results||20-Aug-22|
|RAMASTEEL||Issue Of Warrants;Preferential Issue of shares||19-Aug-22||DRA||A.G.M.;General||22-Aug-22|
|TSPIRITUAL||General||19-Aug-22||GILLETTE||Audited Results;Final Dividend||22-Aug-22|
|GGL||Right Issue of Equity Shares||20-Aug-22||MYMONEY||A.G.M.||22-Aug-22|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|ASTRAL||19-Aug-22||Final Dividend Rs.1.75||CRAVATEX||22-Aug-22||Final Dividend Rs.3|
|BPCL||19-Aug-22||Final Dividend Rs.6||DHUNINV||22-Aug-22||Dividend Rs. 2.5|
|CHAMBLFERT||19-Aug-22||Final Dividend Rs.3||DSSL||22-Aug-22||Int. Div. Rs.0.5|
|ECLERX||19-Aug-22||Final Dividend Rs.1||FINOLEXIND||22-Aug-22||Final Dividend Rs.2|
|GUJGAS||19-Aug-22||Dividend Rs.2||FINOLEXIND||22-Aug-22||Special Dividend Rs.2|
|HAL||19-Aug-22||Final Dividend Rs.10||GRANULES||22-Aug-22||Buy Back of Shares|
|KITEX||19-Aug-22||Final Dividend Rs.1.5||HINDPETRO||22-Aug-22||Final Dividend Rs.14|
|MARKSANS*||19-Aug-22||Final Dividend Rs.0.25||KPEL||22-Aug-22||Int. Div.|
|NATCOPHARM||19-Aug-22||Int. Div. Rs.3.5||KPIGREEN||22-Aug-22||Int. Div.|
|ORIENTCQ||19-Aug-22||Final Dividend Rs.7||NH||22-Aug-22||Final Dividend Rs.1|
|POWERGRID||19-Aug-22||Final Dividend Rs.2.25||NICCOPAR||22-Aug-22||Int. Div. Rs.0.5|
|SPCAPIT||19-Aug-22||Int. Div. Rs.0.75||STLTECH||22-Aug-22||Final Dividend Rs.0.5|
|SUNPHARMA||19-Aug-22||Final Dividend Rs.3||TIDEWATER||22-Aug-22||Int. Div.|
|TBZ||19-Aug-22||Final Dividend Rs.1||WARDINMOBI||22-Aug-22||Final Dividend Rs.0.075|
|TI||19-Aug-22||Dividend Rs.0.1||JKPAPER||23-Aug-22||Final Dividend Rs.5.5|
|TIPSINDLTD||19-Aug-22||Final Dividend Rs.2||JUBLINGREA||23-Aug-22||Final Dividend Rs.2.5|
|UCALFUEL||19-Aug-22||Dividend Rs.2||SCFL||23-Aug-22||Int. Div. Rs.0.3|
|AEGISLOG||22-Aug-22||Int. Div. Rs.1.5||SUNTV||23-Aug-22||Int. Div. Rs.5|
|CHEMCON||22-Aug-22||Int. Div. Rs.4||BAPACK||24-Aug-22||Final Dividend Rs.1.5|
|COMPUAGE||22-Aug-22||Final Dividend Rs.0.20||COCHINM||24-Aug-22||Dividend Rs.1.5|
Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014
Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, email@example.com
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing firstname.lastname@example.org with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail email@example.com.
Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL