The Nifty continued its momentum and opened with a gap up of almost 85 points at 11363. The index first traded sideways till 10:10 AM and then began a handsome rally of almost 95 points till 12:40 PM. After that, the index then saw a correction till 2:00 PM and then started another sharp move up of almost 90 points and made the day high at 11464. Finally the Nifty closed higher by 171 points at 11449.
We had identified a range with support at 11100 and resistance at 11450. Towards the end of the day trading session, prices have broken the resistance and closed just there. A follow through today on the upside may be able to confirm this breakout.
The long term trend remains up. Long term momentum has been down and is now reaching an area considered to be oversold. A rally can be expected soon. Intraday traders today can look to buy if the Nifty opens above 11450, one should buy above the first 15 minutes high. While if the Nifty opens below 11450, one can look to sell below the first 15 minutes low.
Bank Nifty opened at 22466.50 with a gap up of 178 points. Price first moved up making a high of 22678 then moved down touching a low of 22225 ad finally closed around where they opened at 22466. Resulting in a nothing day for the index. With the moratoriums decision being extended until September 28th, the Banking and financials sector may be under some pressure and be slightly choppy due to the uncertainty of the decision.
PSU Banks have performed better than Private banks.
Major support comes in at 22000 and resistance around 23000.
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|ADANIENT||298.30||BUY||The stock has given a breakout from a range. The stock can be bought at CMP with a stop at 293 and for the target of 310|
|TORRENT PHARMA||2814.55||BUY||The stock has given a breakout from a range. The stock can be bought at CMP with a stop at 2795 and for the target of 2870.|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|HINDUNILVR||2120 CE||BUY||55.15||CMP||47||70||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|ASIANPAINT.Sep 24||2059.55||3.64||9.86||3832800||CONCOR.Sep 24||366.3||-2.11||16.79||6686514|
|BPCL.Sep 24||431.9||5.92||8.75||22482000||CADILAHC.Sep 24||365.35||-1.83||13.92||9882400|
|APOLLOHOSP.Sep 24||1613||0.15||8.55||1035000||INFRATEL.Sep 24||200.75||-5.08||10.61||16870000|
|ADANIENT.Sep 24||299.55||5.01||8.41||16920000||BATAINDIA.Sep 24||1270.95||-1.37||8.72||2160400|
|ZEEL.Sep 24||223.1||0.65||6.71||27414000||BRITANNIA.Sep 24||3735.5||-0.57||7.45||1059200|
|Short Covering||Long Unwinding|
|LICHSGFIN.Sep 24||288.25||2.84||-6.87||10202000||TORNTPHARM.Sep 24||2818.15||-0.18||-9.67||892000|
|BANKNIFTY.Sep 24||22506.6||0.76||-6.53||1415075||VOLTAS.Sep 24||650||-0.37||-7.9||2063000|
|MRF.Sep 24||59284.65||0.52||-6.28||42680||TATAPOWER.Sep 24||55.55||-0.63||-6.37||77017500|
|AMARAJABAT.Sep 24||740.25||0.03||-6.05||1041000||ESCORTS.Sep 24||1196.8||-0.7||-5.78||2673000|
|AXISBANK.Sep 24||447.3||3.23||-5.31||52074000||PAGEIND.Sep 24||18494.6||-0.13||-5.24||138360|
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TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Hindustan Unilever Ltd||2133.9||0.08||2137794||1218782||60.64||Nifty Energy||15978.05||3.98||10836064|
|Colgate Palmolive (india||1397.3||2.31||684571||343083||58.83||Nifty 50||11449.25||1.52||52080261|
|Sbi Life Insurance Compa||845.2||1.77||659109||912611||54.16||Nifty Media||1644.5||1.33||360544461|
|Tata Consumer Products l||546.55||2.21||3787088||2311408||52.63||Nifty Bank||22466.2||0.89||26437363|
|Hdfc Ltd.||1777.45||0.95||3245630||1287217||51.29||Nifty it||18395.85||0.74||1188735|
|Itc Ltd.||184.9||0.6||17785076||13615592||48.92||Nifty Auto||7945||0.53||74810429|
|Kotak Mahindra Bank Limi||1319.5||-0.5||3289998||1670619||48.52||Nifty Fmcg||30778.75||0.47||671964|
|Bharti Airtel Limited||497.35||-1.37||21005767||14935539||47.45||Nifty Pharma||11303.4||-0.01||52482610|
|Container Corp Of India||367.55||-2.01||4485419||1535906||46.98||Nifty Metal||2369.8||-1.14||248336890|
|Mrf Ltd.||59134.05||0.63||9822||5969||46.4||India Vix||21.26||-4.36||273773601|
UPCOMING ECONOMIC DATA
|•INR: Manufacturing Output (MoM) (Jul) on 11th September, 2020
•IN R: Industrial Production (YoY) (Jul) on 11th September, 2020
|•USA: Core CPI (MoM) (Aug) on 11th September, 2020|
|•Reliance Industries Ltd. is offering to sell a roughly $20 billion stake in its retail business to Amazon.com Inc.Amazon has held discussions about investing in the conglomerate’s Reliance Retail Ventures Ltd. unit and has expressed interest in negotiating a potential transaction, the person said. Mumbai-based Reliance Industries is willing to sell as much as a 40% stake in the subsidiary to Amazon, the person said, asking not to be identified because the information is private.
•The Supreme Court on Thursday virtually extended the loan moratorium period till September 28, granting relief to borrowers. The top court extended the interim order, in which it had directed the banks not to declare as NPAs accounts that are unable to make repayments, till further orders.
•Ratings agency Crisil Ltd. has said nearly two-thirds of the companies that it rates will eligible for a debt restructuring, considering the financial benchmarks set by the RBI-appointed Kamath Committee. For its analysis, the ratings agency studied the rated portfolio of 8,500 companies after sorting them by ratings, sector and moratorium availed. The ratings, Crisil said, excludes financial sector firms and small and medium-sized businesses.
•Reliance Industries became the first Indian company to hit a market cap of $200 Billion. In 2020, Reliance has gained a market cap of over $70 billion, while the second-placed TCS has gained less than $10 billion.
Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|ADANIGREEN||Quarterly Results||11-Sep-20||KLGCAP||Quarterly Results||11-Sep-20|
|AFEL||Preferential Issue;Results||11-Sep-20||LLOYDSTEEL||Quarterly Results;General||11-Sep-20|
|BGRENERGY||Quarterly Results||11-Sep-20||MIDHANI||Preferential Issue of shares||11-Sep-20|
|BPCAP||Quarterly Results||11-Sep-20||OSWALAGRO||Quarterly Results||11-Sep-20|
|DCMFINSERV||Quarterly Results||11-Sep-20||PRECISION||Quarterly Results;General||11-Sep-20|
|DEEPAKFERT||Right Issue of Equity Shares;General||11-Sep-20||SKYIND||Quarterly Results||11-Sep-20|
|FSC||Quarterly Results||11-Sep-20||STDBAT||Quarterly Results||11-Sep-20|
|GARFIBRES||Quarterly Results||11-Sep-20||TIL||Quarterly Results||11-Sep-20|
|GORANIN||Quarterly Results||11-Sep-20||TOYAMIND||Quarterly Results;General||11-Sep-20|
|IRCTC||Quarterly Results||11-Sep-20||TRANSFRE||Quarterly Results||11-Sep-20|
|ISFT||Quarterly Results||11-Sep-20||TREEHOUSE||Quarterly Results||11-Sep-20|
|ITDC||Quarterly Results||11-Sep-20||WANBURY||Quarterly Results||11-Sep-20|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|AVADHSUGAR||11-Sep-20||Dividend – Rs. – 4.00||HONDAPOWER||11-Sep-20||Dividend – Rs. – 12.50|
|BAJAJCON||11-Sep-20||Dividend – Rs. – 2.00||INDGELA||11-Sep-20||Dividend – Rs. – 1.50|
|BHARATSE||11-Sep-20||Dividend – Rs. – 0.50||NECLIFE||11-Sep-20||Final Dividend – Rs. – 0.05|
|BLS||11-Sep-20||Final Dividend – Rs. – 0.50||SALONACOT||11-Sep-20||Dividend – Rs. – 0.60|
|COMPEAU||11-Sep-20||Dividend – Rs. – 1.00||VICTMILL||11-Sep-20||Final Dividend – Rs. – 50.00|
|ENGINERSIN||11-Sep-20||Final Dividend – Rs. – 1.55||WPIL||11-Sep-20||Dividend – Rs. – 7.50|
|FIEMIND||11-Sep-20||Final Dividend – Rs. – 3.00||AEGISLOG||14-Sep-20||Final Dividend – Rs. – 1.20|
|GGL||11-Sep-20||Bonus issue 5:6||GANECOS||14-Sep-20||Final Dividend – Rs. – 2.00|
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
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