outlookNIFTY:

The Nifty opened without any gaps at 11934.65. The index first rallied then saw a decline and then traded sideways. The intraday range was very narrow. Prices have moved inside 100 points. The index closed at 11934.50 almost at the open and daybefore’s closing price. It was a nothin day as the gains were just 3.55 points. The IT sector continued to outperform and closed higher by 1.31%.

After a relentless, non-stop rally, the Nifty has now entered into a pause mode. The index has been moving just under 12000 for over two days now. This could be a sense of nervousness as the index gets ready to cross the psychological number of 12000. It could also be the fact that there may be many sellers as the market attempts to make a new high for this up move.

The Nifty has closed almost unchanged. As the markets continue to move inside a trading range, we assume the trend is up and therefore the market should eventually move higher.

The setup in Nifty suggests buying above 12022 or selling below 11867. The stop will be 11950 in both cases. Take only one trade whichever comes first.

BANK NIFTY:

Bank Nifty opened at 23663.05 with a minor gap down of 43 points. The index first rallied and made its intraday high at 23775. After that prices have seen a sharp decline and made its intraday low at 23431.50. The index finally closed at 23492 with a loss of more than 200 points.

PSU Banks have continued its underperformance and closed lower by 1.54%. Within the index, in terms of points, Kotak Bank contributed highest while ICICI Bank contributed lowest. Bank Nifty continued its weak momentum that started daybefore ad closed near its lows. The index traded very narrow. We may see a big move soon.

Short term trend is up. Support is visible around 23000. A breakdown below this level may tell us that the short term trend is changing to sideways. Intraday traders can buy above 23800 or sell below 23400.

Trade AnyTime AnyWhere With Elite Empower Mobile App

Elite-Empower-App-Promotional-Banner-img1

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
KOTAKBANK 1344.95 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1325 and for the target of 1360-1380
BALKRISHNAN 1388 SELL The stock has given a breakdown from a trading range. The stock can be sold between 1393-1397 with a stop at 1410 and for the target of 1350.

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
DABUR 515 CE BUY 14.95 CMP 12 21 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
VEDL.Oct 29 100.2 2.98 26.12 72031600 RECLTD.Oct 29 92.6 -3.79 21.7 25704000
COFORGE LIMITED.Oct 29 2776 3.9 24.46 708000 LICHSGFIN.Oct 29 288.35 -4.57 19.83 11020000
AMBUJACEM.Oct 29 242.45 1.27 15.12 16830000 ESCORTS.Oct 29 1241 -1.43 16.17 3437500
NAUKRI.Oct 29 3614.55 3.42 13.52 755500 MGL.Oct 29 791.45 -2.7 12.77 1860000
ACC.Oct 29 1530.9 0.87 12.69 2033500 BOSCHLTD.Oct 29 12159.65 -3.02 11.5 134750
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
TATACHEM.Oct 29 308.9 2.56 -2.39 5562000 SRF.Oct 29 4382.05 -0.25 -7.63 693000
KOTAKBANK.Oct 29 1341 1.75 -1.26 11715600 CANBK.Oct 29 87.45 -0.23 -6.6 16975000
ONGC.Oct 29 69.35 0.14 -0.91 50558200 GODREJPROP.Oct 29 882.95 -2.71 -3.74 753350
IOC.Oct 29 76.05 0.4 -0.78 55580700 HDFCBANK.Oct 29 1198.05 -1.32 -3.29 39679750
BRITANNIA.Oct 29 3770.75 0.63 -0.59 907400 DLF.Oct 29 155.15 -0.77 -1.85 28403100

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Unilever Ltd 2138.2 -0.01 1679176 1114159 63.99 Nifty it 22492.6 1.31 78954
Petronet Lng Limited 215.6 -1.3 3047776 1252654 55.1 Nifty Energy 14911.95 1.07 78954
Sbi Life Insurance Compa 786.55 -0.64 1142720 567548 51.73 Nifty Metal 2249.65 0.39 78954
Hdfc Life Insurance Comp 566.7 0.59 2122839 1163444 49.52 Nifty 50 11934.5 0.03 78954
Icici Prudential Life In 415.55 -0.79 2820407 680877 49.27 Nifty Fmcg 29926.7 -0.32 78954
Balkrishna Ind. Ltd 1388 -0.97 559810 269631 48.56 Nifty Auto 8052.85 -0.61 78954
Grasim Ind Ltd. 749.45 0.64 2740418 1284385 45.65 Nifty Bank 23492.2 -0.93 78954
Container Corp Of India 363.6 -1.88 1897235 789220 45.49 Nifty Media 1492.9 -1.66 78954
Siemens Ltd 1232.25 -2.17 467275 155907 45.22 Nifty Pharma 11937.1 -1.79 78954
Godrej Cons Products Ltd 714.7 0.91 1250360 607355 42.58 India Vix 20.72 -1.94 78954

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR: WPI Inflation (YoY) (Sep) on 14th October, 2020

•INR: Trade Balance on 15th October, 2020

•USD: PPI (MoM) (Sep) on 14th October, 2020

•USD: Crude Oil Inventories on 15th October 2020

Get Stock Market Recommendation By Our Research Analysts

Market-Research-Promotional-Banner-img5

NEWS UPDATES

•Wipro Ltd.’s quarterly profit rose Net profit rose 3.15% over the previous quarter to Rs 2,465.7 crore in three months ended September, according to its exchange filing. Analysts’ estimates compiled by Bloomberg had pegged profit at Rs 2,477 crore. Total revenue rose 1.17% sequentially to Rs 15,096.7 crore—higher than the estimated Rs 15,084 crore. Revenue from IT services rose 3.66% to $1,992.4 million.

•Wipro has signed a definitive agreement to acquire Eximius Design Design for $80 million (about Rs.586.3 crore) a leading engineering services company with strong expertise in semiconductor, software and systems design.Eximius provides endto-end solutions and services for building smarter, smaller and faster connected products for various use cases of loT, lndustry 4.0, Edge Computing, Cloud, 5G and Artificial lntelligence.

•Wipro approved a buyback proposal worth Rs.9,500 crore. Wipro plans to purchase of 23.75 crore shares at Rs.400 per equity share for an aggregate amount not exceeding Rs.9,500 crore.This represents 4.16% of total paid-up equity share capital of the company as on September 30. The buyback price is at a 6.6% premium to Monday’s closing price.

•Coal India Limited (CIL) witnessed a 65 per cent increase in the coal booked through the e-auction mode. CIL booked 41.4 million tonne of raw coal in the four rounds of e-auctions that it held during the April-September 2020 period compared to 25.1 MT in the corresponding period last fiscal.

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
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
DEN Quarterly Results 14-Oct-20 SHANGAR Bonus issue;Stock  Split;General 14-Oct-20
GOACARBON Quarterly Results 14-Oct-20 TATAELXSI Audited Results 14-Oct-20
GUJHOTE Quarterly Results 14-Oct-20 TATASTLBSL Quarterly Results 14-Oct-20
INDOCRED Quarterly Results;General 14-Oct-20 TWL Audited Results;Quarterly Results 14-Oct-20
INFY Interim Dividend;Quarterly Results 14-Oct-20 BLFL Quarterly Results 15-Oct-20
ITHL Quarterly Results 14-Oct-20 BONLON Audited Results 15-Oct-20
JTLINFRA Quarterly Results;General 14-Oct-20 CHENFERRO Quarterly Results 15-Oct-20
KILBURNC Quarterly Results 14-Oct-20 CYIENT Quarterly Results 15-Oct-20
MDRNSTL Quarterly Results;General 14-Oct-20 DOLAT Quarterly Results 15-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