NIFTY:
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.
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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. |
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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 |
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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 |
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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
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