outlookNIFTY:

The Nifty opened almost flat at 11447.80. The Nifty quickly started an up move and made a high of 11493.50 and then moved sideways for the rest of the day in a narrow range.

In terms of the sectors, IT and Realty sectors have performed the best. While Media and Energy have been slightly on the negative side.

The Long term momentum which was seen to be slowing down has picked up momentum again. The Nifty has crossed its resistance of 11450 for the second day and has closed above it at 11464.45. Our trade above 11450 was activated on the buy side and we should stay long in this trade keeping a stop at 11370.

The intermediate trend remains strong as well. With the equal weight age in Mutual funds being imposed on Multi Cap funds, we can hope to see the small and mid cap segments performing well.

Intraday traders can look to buy on a dip towards 11450 and for the upside target of 11550.

BANK NIFTY:

Bank Nifty opened at 22509 with a slight gap up. The index moved up to make its high at 22668.75 and then traded narrow and choppy for the rest of the day. The index made its low at 22205 and finally closed at 22479.95 almost around Thursdays close which leads to nothing day in the index.

The index has been moving in a narrow range between 22000-22700 for the last two days. Any breakout from this range can give a move.

Intraday traders can look to buy on dips and sell on rallies.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
SBILIFE 864.40 BUY The stock has given a breakout from a range. The stock can be bought at CMP with a stop at 850 and for the target of  892.
MUTHOOTFIN 1128.50 BUY The stock has given a breakout from a range. The stock can be bought between 1123-1125 with a stop at 1105 and for the target of  1150-1160.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
IGL 400 CE BUY 12.95 CMP 9 19 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
COFORGE LIMITED.Sep 24 2098.55 9.14 69.37 572250 CUMMINSIND.Sep 24 452.25 -3.83 13.45 1832400
CANBK.Sep 24 101.2 1.3 17.75 11975000 ACC.Sep 24 1326.65 -1.52 8.83 2299500
TITAN.Sep 24 1168.4 0.79 10.15 5679000 ADANIENT.Sep 24 297.2 -0.78 8.37 18336000
WIPRO.Sep 24 294.25 3.14 7.84 27123200 PVR.Sep 24 1250 -2.97 8.25 1489620
NIFTY.Sep 24 11467.1 0.1 7.03 10699500 HCLTECH.Sep 24 722.5 -0.03 7.78 14561400
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
VEDL.Sep 24 132.3 0.95 -11.87 93892800 ASIANPAINT.Sep 24 2038.8 -1.01 -5.25 3631500
ESCORTS.Sep 24 1202.6 0.48 -10.49 2392500 BERGEPAINT.Sep 24 573.9 -0.51 -3.29 2943600
MANAPPURAM.Sep 24 157.9 7.12 -8.69 15948000 MRF.Sep 24 59255.1 -0.05 -2.34 41680
APOLLOTYRE.Sep 24 116.7 0.34 -8.47 11835000 BHEL.Sep 24 37.05 -0.13 -1.79 56532000
COLPAL.Sep 24 1420.5 1.25 -7.29 2821700 NTPC.Sep 24 90.35 -0.66 -1.52 48421500

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Power Grid Corporation o 175.15 -1.38 17540145 6827491 61.82 Nifty it 18633.25 1.29 2448624
Hindustan Unilever Ltd 2159.25 1.19 1934716 1251165 58.53 Nifty Fmcg 30972.25 0.63 933775
Container Corp Of India 383.8 4.42 3692299 2462792 54.91 Nifty Metal 2384.3 0.61 215332629
Hdfc Ltd. 1768.15 -0.52 2232185 1643387 50.63 Nifty Auto 7956.8 0.15 64440429
The Ramco Cements 703 0.59 675766 296402 47.88 Nifty 50 11464.45 0.13 44761248
Nestleind 16325.35 -0.58 81228 33184 42.98 Nifty Pharma 11313.3 0.09 45313863
Tech Mahindra Limited 765.15 2.02 4918291 1590086 42.54 Nifty Bank 22479.95 0.06 22778337
Bharti Airtel Limited 491.65 -1.15 15597700 8923960 42.48 Nifty Energy 15942.3 -0.22 5003451
Kotak Mahindra Bank Limi 1330.35 0.82 3500326 1395476 42.42 Nifty Media 1629.95 -0.88 313390222
Britannia Ind Ltd. 3772.25 1.43 829715 146232 40.86 India Vix 20.71 -2.59 244335207

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR:  WPI Food (YoY) (Aug) on 14th  September, 2020

•IN R: CPI (YoY) (Aug) on 14th  September, 2020

•USA: Industrial Production (YoY) (Aug) on 15th September, 2020

•USA: Core Retail Sales (MoM) (Aug) on 16th September, 2020

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NEWS UPDATES

•Industrial production declined by 10.4 per cent in July, mainly due to lower output of manufacturing, mining and power generation, as per the government data released on Friday. According to the Index of Industrial Production (IIP) data, manufacturing sector production registered a decline of 11.1 per cent, while the output of mining and power fell 13 per cent and 2.5 per cent, respectively.

•Moody’s revised its forecast of India’s growth to a double digit contraction at 11.5% during the current fiscal year, down from the -4% it had estimated in July. At the same time, it raised its expectations of the economy’s performance in the coming fiscal to 10.6% from 8.7% earlier, but said this was largely due to the strong statistical base effect.

•Oil companies’ marketing margin on petrol and diesel will more than double by month-end if they don’t cut domestic retail prices in line with the recent drop in international rates, as per analysts. “Recent global auto fuel price correction has meant net margin may surge to Rs 4.38 per litre on 16th September and Rs 5.73 per litre on 1st October if retail prices are not cut,” ICICI Securities said in a note. The margin on September 10 was Rs 2.62 per litre.

•Route Mobile Ltd.’s Rs 600-crore initial public offering was subscribed 74.28 times on the final day of bidding, led by demand from non-institutional investors. The portion reserved for non-institutional investors subscribed 195.61 times, while institutional investors bid 91.06 times on shares earmarked for them.

Source: Economic Times,  Moneycontrol  ,Business Today,Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ALFL Quarterly Results 14-Sep-20 JMTAUTOLTD Quarterly Results 14-Sep-20
APOLLOHOSP Quarterly Results 14-Sep-20 KISAN Quarterly Results 14-Sep-20
BAJAJHCARE Quarterly Results 14-Sep-20 KWALITY Quarterly Results 14-Sep-20
BALAJITELE Quarterly Results 14-Sep-20 NBCC Quarterly Results 14-Sep-20
CCCL Quarterly Results 14-Sep-20 NECLIFE General;Quarterly Results 14-Sep-20
CENTRUM Quarterly Results 14-Sep-20 NETTLINX General;Quarterly Results 14-Sep-20
CIL Quarterly Results 14-Sep-20 PARLEIND Quarterly Results 14-Sep-20
FERMENTA Quarterly Results 14-Sep-20 PCJEWELLER Quarterly Results 14-Sep-20
FRETAIL Quarterly Results 14-Sep-20 PVR Quarterly Results 14-Sep-20
IBULHSGFIN General 14-Sep-20 RAYMOND Quarterly Results 14-Sep-20
IFCI Quarterly Results 14-Sep-20 RELIGARE Quarterly Results 14-Sep-20
ITI Quarterly Results 14-Sep-20 SAIL Quarterly Results 14-Sep-20
JBCHEPHARM Quarterly Results 14-Sep-20 WIMPLAST Quarterly Results 14-Sep-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
AEGISLOG 14-Sep-20 Final Dividend – Rs. – 1.20 MRF 14-Sep-20 Final Dividend – Rs. – 94.00
GANECOS 14-Sep-20 Final Dividend – Rs. – 2.00 PFS 14-Sep-20 Final Dividend – Rs. – 0.45
GSFC 14-Sep-20 Final Dividend – Rs. – 1.20 PREMCO 14-Sep-20 Final Dividend – Rs. – 2.00
HCLTECH 14-Sep-20 Final Dividend – Rs. – 2.00 PTC 14-Sep-20 Final Dividend – Rs. – 5.50
JINDRILL 14-Sep-20 Final Dividend – Rs. – 0.50 SILINV 14-Sep-20 Dividend – Rs. – 2.50
JKTYRE 14-Sep-20 Final Dividend – Rs. – 0.70 SUPERHOUSE 14-Sep-20 Dividend – Rs. – 0.80
MAGADHSUGAR 14-Sep-20 Final Dividend – Rs. – 4.00 SUPPETRO* 14-Sep-20 Final Dividend – Rs. – 1.50
MAHSEAMLES 14-Sep-20 Final Dividend – Rs. – 2.50 SUTLEJTEX 14-Sep-20 Dividend – Rs. – 0.30

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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