2020-10-13-OUTLOOKNIFTY:

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:

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.

Trade AnyTime AnyWhere With Elite Empower Mobile App

Elite-Empower-App-Promotional-Banner-img1

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
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.

Get All Your Mutual Fund Portfolio Retuns on Your Mobile by Elite Kuber App


Elite-Kuber-Mutual-Fund-Promotional-Banner-img

DERIVATIVE PICKS

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
Sector Price Price% OI% OI Sector Price Price% OI% OI
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
Sectors Price Change % Quantity
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
Nestleind 15902.2 -0.82 58171 33392 44.97 Nifty Fmcg 29923.9 79038 57871183
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

   Domestic                                                                                                                                                  International
•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

Get Stock Market Recommendation By Our Research Analysts

Market-Research-Promotional-Banner-img5

NEWS UPDATES

•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

Open Your Demat Account to Invest in Upcoming IPO’sDemat-and-Trading-Account-Promotion-Banner

BOARD MEETINGS

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
CSLFINANCE General 13-Oct-20 GUJHOTE Quarterly Results 14-Oct-20
GTV General 13-Oct-20 INDOCRED General;Quarterly Results 14-Oct-20
KTKBANK Quarterly Results 13-Oct-20 INFY Interim Dividend;Quarterly Results 14-Oct-20
LESHAIND General 13-Oct-20 ITHL Quarterly Results 14-Oct-20
RUDRA General;Quarterly Results 13-Oct-20 JTLINFRA General;Quarterly Results 14-Oct-20
STRGRENWO General 13-Oct-20 KILBURNC 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

CORPORATE ACTION

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


For Daily Share Market Updates, Daily debt market review, Market Research Analysis reports, Weekly Techno-Funda Report, Fundamental Analysis Report, Monthly Recommended stock Picks, Equity Trading Tips, Upcoming IPO/NFO/Bonds/Ncd’s updates & other related information Subscribe our research plan