The Nifty continued its strong upside momentum and opened with a gap up of 59 points at 11973.55. Prices have added another 50 points into the gains within first 10 minutes of trading and recorded its intraday high above 12000. Strong momentum did not last long and prices have started drifting downwards. Minor rallies quickly sold by bears and prices have moved lower by almost 150 points. The index spent its last hour of trading very narrow and choppy and finally closed at 11930.95 up by just 16.75 points.
IT, Pharma and FMCG closed with gains while the rest of the sectoral indices closed in a loss.
Nifty settled almost in a volatile trading session, taking a breather after the recent surge. A V- Shaped rally that started from 10800 on September 25, has now come near 12000 levels with many corrections. After such move prices tend to trade choppy and consolidate.
Nifty again has made a pattern of Doji. On Thursday the index made a Doji which resolved on the upside. Again the index has made this pattern which reflects uncertainty. A breakout from yesterdays high or low may tell us the next likely direction. The Nifty has touched and crossed 12000 a psychological benchmark for the index. The trade continuously is only one sided, buy on every dip and consolidation.
Bank Nifty opened at 23955.60 with a gap up of 67 points. The index rallied further for the first 10 minutes of trading and made its intraday high at 24190.35. The index then saw a sharp decline and made its intraday low at 23552.60. After that prices traded sideways for the rest of the day and finally closed at 23712 with a loss of 180 points.
PSU and Private Banks both have underperformed and closed lower by 1.77%. Within the index, in terms of points, ICICI Bank contributed the highest while HDFC Bank contributed lowest. Bank Nifty has taken a break from its higher closing streak and closed lower. A gap up opening did not sustain and closed near 23700. Short term trend is up and intact.
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|SRTRANFIN||661.65||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought above 664 with a stop at 652 and for the target of 685|
|SUNTV||449.60||SELL||The stock has given a breakdown from a narrow trading range. The stock can be sold at CMP with a stop at 455 and for the target of 440-435.|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|RELIANCE||2240 CE||BUY||78.30||CMP||70||100||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|WIPRO.Oct 29||379.15||1.3||12.2||31996800||CANBK.Oct 29||87.65||-5.19||26.83||18175000|
|COFORGE LIMITED.Oct 29||2671.75||7.99||11.22||568875||MGL.Oct 29||813.45||-1.74||8.66||1649400|
|SRF.Oct 29||4392.95||2.42||7.26||750250||SUNTV.Oct 29||450.9||-2.25||6.68||4141500|
|NAUKRI.Oct 29||3495||0.72||6.82||665500||BALKRISIND.Oct 29||1405.5||-0.58||4.73||1914400|
|HCLTECH.Oct 29||867.95||1.11||6.07||18005400||HAVELLS.Oct 29||703.5||-0.54||4.67||5601000|
|Short Covering||Long Unwinding|
|GLENMARK.Oct 29||496.35||0.39||-6.47||7580800||VEDL.Oct 29||97.3||-19.95||-18.2||57114400|
|ASIANPAINT.Oct 29||2085.15||1.31||-5.48||2297700||M&MFIN.Oct 29||131.5||-1.79||-9.76||15277584|
|CADILAHC.Oct 29||442.5||0.97||-4.73||6556000||MOTHERSUMI.Oct 29||113.8||-6.3||-8.11||24192000|
|INFRATEL.Oct 29||188.65||0.94||-4.61||11695600||RAMCOCEM.Oct 29||758.4||-1.87||-5.47||1321750|
|TORNTPHARM.Oct 29||2853.45||1.72||-4.31||843500||LICHSGFIN.Oct 29||302.15||-1.79||-3.75||9196000|
TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Hindustan Unilever Ltd||2138.4||-0.06||1741171||1119823||55.96||Nifty Bank||23846.8||79038||222823532|
|Tata Consumer Products l||474.7||0.73||4422571||3524852||52.44||Nifty 50||11914.2||79038||3319330|
|Sbi Life Insurance Compa||791.65||-1.77||1097167||590208||49.64||Nifty it||21837.65||79038||38880804|
|Power Grid Corporation o||159.8||1.14||11627290||3297561||48.93||Nifty Energy||14833.8||79038||896399|
|Kotak Mahindra Bank Limi||1312.9||-0.53||5175329||2446802||46.06||India Vix||20.38||79038||39452348|
|Pidilite Industries Ltd||1479.5||0.5||438869||221935||46.06||Nifty Auto||8163.5||79038||1592417|
|Itc Ltd.||172.2||2.59||66250654||10239344||45.77||Nifty Metal||2260.85||79038||19755782|
|Godrej Cons Products Ltd||708.25||-1.61||1426513||490599||44.77||Nifty Media||1554.85||79038||208649561|
|Petronet Lng Limited||218.45||0.14||2273448||1333781||44.17||Nifty Pharma||12043.95||79038||306876888|
UPCOMING ECONOMIC DATA
|•INR: WPI Inflation (YoY) (Sep) on 14th October, 2020
•INR: Trade Balance on 15th October, 2020
|•USD: Core CPI (MoM) (Sep) on 13th October 2020
•USD: PPI (MoM) (Sep) on 14th October, 2020
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|•The Indian government has announced a set of measures in the hope of front-loading consumer spending and capital expenditure. This is the second fiscal support package announced to revive the economy that’s expected to see its worst recession in at least four decades. In a press briefing today, Finance Minister Nirmala Sitharaman announced measures in two buckets — schemes intended to boost spending by central government employees, and those intended to push states’ capital expenditure.
•India’s financial capital saw its worst blackout in decades because of a grid failure, disrupting transport networks and briefly hitting trading volume in bond markets. Mumbai, home to India’s biggest stock exchanges, financial regulators and the central bank, witnessed a power outage at around 10 am local time. Power tripping — or an overload in the circuit that forces the system to shut down automatically — was the reason for the grid’s collapse, according to local power utility Tata Power Ltd. Electricity is gradually being restored across the island city.
•Shareholders of Vedanta Ltd saw their hopes dashed because of the failed attempt at delisting, which also hammered the stock down 20% in trade on Monday. Shares, however, found support at about Rs.97 level, which is little consolation for investors who had bought the stock for delisting gains. Given that the number of shares tendered of about 1.24 billion stood lower than the 1.34 billion required, the delisting gains did not quite go through as shareholders were expecting.
Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|ARCHITORG||Issue Of Warrants||13-Oct-20||DEN||Quarterly Results||14-Oct-20|
|CALSOFT||Quarterly Results||13-Oct-20||GOACARBON||Quarterly Results||14-Oct-20|
|KTKBANK||Quarterly Results||13-Oct-20||INFY||Interim Dividend;Quarterly Results||14-Oct-20|
|RUDRA||General;Quarterly Results||13-Oct-20||JTLINFRA||General;Quarterly Results||14-Oct-20|
|TATASTLLP||Audited Results||13-Oct-20||MDRNSTL||Audited Results;Quarterly Results||14-Oct-20|
|BIRLAMONEY||Quarterly Results||14-Oct-20||PALMJEWELS||Half Yearly Results||14-Oct-20|
|CHDCHEM||Quarterly Results||14-Oct-20||RIIL||Quarterly Results||14-Oct-20|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|INFRATRUST||14-Oct-20||Income Distribution (InvIT)||ISFT||21-Oct-20||Dividend – Rs. – 1.00|
|TCS||14-Oct-20||Interim Dividend – Rs. – 12.00||HCLTECH||22-Oct-20||Interim Dividend|
|ASHFL||15-Oct-20||Dividend – Rs. – 0.10||LTTS||26-Oct-20||Interim Dividend|
|ELIXIR||15-Oct-20||Final Dividend – Rs. – 1.2500||ASIANPAINT||28-Oct-20||Interim Dividend|
|SDBL||15-Oct-20||Stock Split From Rs.10/- to Rs.5/-||DHINDIA||28-Oct-20||E.G.M.|
|VAL||15-Oct-20||Bonus issue 3:5||GMM||28-Oct-20||Interim Dividend|
|COSPOWER||16-Oct-20||Final Dividend – Rs. – 1.20||HINDUNILVR||28-Oct-20||Interim Dividend|
|HIMTEK||16-Oct-20||Dividend – Rs. – 0.20||ASAHISONG||2-Nov-20||Interim Dividend|
|IRCTC||19-Oct-20||Final Dividend – Rs. – 2.50||IVC||2-Nov-20||Final Dividend – Rs. – 0.60|
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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