The NIFTY opened at 17679 with a gap up of 75 points. The index continued its bullish momentum and went above 17700 but soon formed a narrow trading range. Prices have found repeated resistance around 17700 and support around 17650 during the day and spent most of the time within this narrow range which eventually broke down. The index recorded its intraday high at 17726.50, saw a sharp intraday decline, recorded its intraday low at 17487.45, and finally closed at 17522.45 near its daily lows with a loss of 82.5O points or 0.47% down. All the sectoral indices have closed lower today except the REALTY which ended with a gain of 1.47%. IT and METAL led the bears today and ended with a loss of over half a percent. A gap-up opening did not sustain today. The bias was bearish today as the index closed near its daily lows. The short-term trend is sideways. The volatility is high and likely to continue rising. We have a support level of around 17400 and a resistance level of around 18000.These levels are yet to be confirmed but we are anticipating that the index may spend weeks within these levels. We should now wait for an adequate setup to emerge for fresh trading opportunities. As of now, we should avoid trading the index. Fresh trade should emerge either on a dip towards 17400 or on a rally towards 17900 – 18000.
The BANK NIFTY opened at 39190.05 with a gap up of 103 points. The index started moving upwards after the opening and found strong resistance around the 39400 – 39500 zone in the afternoon. Prices have recorded its intraday high at 39471.75 and then saw a steep fall towards the end of today’s trading session. The index recorded its intraday low at 38803.70 and finally closed at 38847.95 with a loss of 240 points. PSU BANKS have significantly outperformed today and closed with a gain of 2.74%. PVT BANKS have underperformed today and ended with a loss of just 0.15%. Within the index, in terms of points, PNB contributed the highest on the upside while HDFC BANK contributed the lowest. We now have a support level of around 38000 and a resistance level of around 40000.This range has yet to be confirmed but it is most likely that prices may move within these boundaries for a few weeks. Volatility is rising and we can see that during the day how prices fluctuate randomly. Avoid trading the index and wait for an adequate setup to emerge
|NAUKRI||4503.05||BUY||The stock is on the verge of giving the breakout on the intraday as well as the daily chart. The stock should be buy at 4535 with a stop loss of 4455 and for the target of 4654.|
|DEEPAK NTR||1958.05||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 1950 with a stop loss of 1984 and target of 1899.|
|Stock Name||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|ADANI PORT||800 PE||BUY||34.50||CMP||29||45||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|BHEL.22.08 Aug||57.4||7.49||10.48||18259500||ADANIPORTS.22.08 Aug||814.85||-2.67||16.8||8932500|
|L&TFH.22.08 Aug||79.8||6.12||0.78||15054788||BAJFINANCE.22.08 Aug||7033.75||-2.25||2.92||880375|
|CROMPTON.22.08 Aug||411||5.87||16.27||2422500||ADANIENT.22.08 Aug||3066.55||-2.19||26.42||5080000|
|PNB.22.08 Aug||35.2||4.76||0.19||74400000||MPHASIS.22.08 Aug||2188.2||-1.59||9.67||671125|
|Short Covering||Long Unwinding|
|CUB.22.08 Aug||186.9||5.27||-47.49||575000||NAM-INDIA.22.08 Aug||303.7||-3.22||-49.26||656000|
|IDFC.22.08 Aug||65.95||5.27||-1.04||36060000||LUPIN.22.08 Aug||661.6||-2.53||-16.18||1695750|
|LALPATHLAB.22.08 Aug||2596.3||4.47||-42.46||155500||BALKRISIND.22.08 Aug||2071||-2.41||-37.97||119100|
|INDIAMART.22.08 Aug||4261.5||3.9||-25.38||66600||AMBUJACEM.22.08 Aug||397||-2.22||-23.73||11395800|
TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Power Finance Corporatio||120.2||1.69||6637297||0||73.65||Nifty50||17522.45||-0.47||86496|
|Hdfc Bank Ltd.||1464.85||-0.54||5911520||0||69.7||Nifty it||28608.65||-0.87||86496|
|Hdfc Ltd.||2419.75||-0.77||1276129||0||67.77||India Vix||19.57||5.61||86496|
|Icici Bank Ltd.||872.35||-0.11||9827829||0||66.94||Nifty Fmcg||42830.05||-0.39||86496|
|Icici Lombard General In||1260.3||1.33||2414864||0||66.49||Nifty Pharma||12593.25||-0.4||86496|
|Indian Oil Corp. Ltd.||71.45||1.28||13090152||0||66.43||Nifty Realty||455.45||1.47||86496|
|Ambuja Cements Ltd||397.15||-1.73||11274377||0||66.27||Nifty Auto||12877.9||-0.27||86496|
|Dabur India Ltd.||579.7||-1.26||1563845||0||64.56||Nifty Metal||5800.1||-0.51||86496|
|Indus Towers Limited||198.6||0.4||2204153||0||63.49||Nifty Financial Services||17916.35||-0.39||86496|
UPCOMING ECONOMIC DATA
|INR: FX Reserves, USD on 26th August, 2022
INR: GDP Quarterly (YoY) (Q1) on 31st August, 2022
| USD : Jackson Hole Symposium on 26th August, 2022
USD : Fed Chair Powell Speaks on 26th August, 2022
India’s stock benchmarks declined after a volatile final hour of trade on the expiry day of August series derivatives contracts. The Sensex and Nifty reversed course, dragged by information technology, banking stocks ahead of the crucial Jackson Hole annual economic symposium of the U.S. Federal Reserve which begins today.
DreamFolks Services Ltd.’s Rs 562.10-crore initial public offering continued to see investor demand on the second day of subscription. he IPO subscribed 4.33 times as of 3:00 p.m. on Aug. 25. Institutional investors: 0.42 times. Non-institutional investors: 4.68 times. Retail investors: 15.52 times.
Auto components maker UNO Minda (formerly Minda Industries) will be investing up to Rs 300 crore to expand capacities at its two plants in Haryana. The Manesar-based company is in need of increasing its production capacity of alloy wheels and automotive switches for four-wheelers, it said today.
The government on Thursday decided to put restrictions on the export of wheat flour to curb rising prices of the commodity. The decision was taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi here.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Meeting Date||Company Name||Purpose||Meeting Date|
|ANSHNCO||Bonus issue||26-Aug-22||NITINCAST||General;Employees Stock Option Plan;A.G.M.;Final Dividend||26-Aug-22|
|ARNOLD||A.G.M.||26-Aug-22||OCEANIC||Audited Results;Quarterly Results||26-Aug-22|
|HITKITGLO||General||26-Aug-22||TTIL||General;Preferential Issue of shares;Right Issue of Equity Shares;Rights Issue||26-Aug-22|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|GRMOVER||26-Aug-22||Interim Dividend Rs. 0.20||STHINPA||29-Aug-22||Final Dividend Rs. 1|
|LINC||26-Aug-22||Dividend Rs. 1.80||VIRAT||29-Aug-22||Final Dividend Rs. 1|
|PANAMAPET||26-Aug-22||Final Dividend Rs. 6||AARTECH||30-Aug-22||Dividend Rs. 0.50|
|PDSL||26-Aug-22||Split Rs. 10/- to Rs. 2/-||BENARAS||30-Aug-22||Final Dividend Rs. 10|
|PERMAGN||26-Aug-22||Final Dividend Rs. 1.2||BENGALASM||30-Aug-22||Final Dividend Rs. 15|
|SUTLEJTEX||26-Aug-22||Final Dividend Rs. 1.85||BNALTD||30-Aug-22||Final Dividend Rs. 2|
|ALFAVIO||29-Aug-22||Split Rs. 10/- to Rs. 1/-||GENUSPOWER||30-Aug-22||Dividend Rs. 0.25|
|DATAINFRA||29-Aug-22||Income Distribution (InvIT)||HEIDELBERG||30-Aug-22||Dividend Rs. 9|
|DATAPATTNS||29-Aug-22||Final Dividend Rs. 3.5||JK AGRI||30-Aug-22||Dividend Rs. 1.5|
|ELNET||29-Aug-22||Final Dividend Rs. 2||KAKATCEM||30-Aug-22||Dividend Rs. 3|
|GUJTHEM||29-Aug-22||Final Dividend Rs. 4||LAMBODHARA||30-Aug-22||Dividend Rs. 1.5|
|INDIAGLYCO||29-Aug-22||Final Dividend Rs. 7.5||MANYAVAR||30-Aug-22||Final Dividend Rs. 5|
|IONEXCHANG||29-Aug-22||Dividend Rs. 10||TAMBOLI||30-Aug-22||Dividend Rs. 1|
|IVC||29-Aug-22||Final Dividend Rs. 0.4||BANARISUG||01-Sep-22||Dividend Rs. 10|
|KAMAHOLD||29-Aug-22||Interim Dividend Rs. 82||GGL||01-Sep-22||Right Issue of Equity Shares|
|METROBRAND||29-Aug-22||Final Dividend Rs. 0.75||GSPL||01-Sep-22||Dividend Rs. 2|
|POKARNA||29-Aug-22||Final Dividend Rs. 0.60||INDIAMART||01-Sep-22||Final Dividend Rs. 2|
|RSWM||29-Aug-22||Dividend Rs. 25||JOINDRE||01-Sep-22||Dividend Rs. 1.25|
|SIS||29-Aug-22||Buy Back of Shares||KANCHI||01-Sep-22||Dividend Rs. 2.5|
|SNL||29-Aug-22||Final Dividend Rs. 6.5||LAKSHMIMIL||01-Sep-22||Final Dividend Rs. 25|
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, firstname.lastname@example.org
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 email@example.com 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 firstname.lastname@example.org.
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