NIFTY:
Nifty opened at 11917.40 with a minor gap down of 17 points. The index fell another 90 points till 10:00 AM. Prices then traded narrow and sideways till 2:00 PM. The index saw a sharp rally of almost 170 points in the last two hours of trading and the index finally closed at 11971.05 up by 36.55 points. Banks and Financials have led the gains and closed higher by more than 1.50%.
Narrow range day trade was taken. A narrow range breakout trade was suggested. The trade was triggered on the downside when the Nifty fell below 11865. A low of 11822 was made and then the Nifty bounced back to close above the stop loss level.
The Nifty has now developed a clear and visible trading range. Support comes in at 11770 and resistance at 12000. We should buy above 12000 with a stop at 11930 or sell below 11770 with a stop at 11840. The downside target is 11600 and the upside is 12200.
The trend remains intact. The long term trend remains up while the long term momentum remains in the strong area.
BANK NIFTY:
Bank Nifty opened at 23353.15 with a gap down of 90 points. The index fell further and recorded its intraday low at 23149.45. Prices have spent most of the day trading very narrow and sideways. A sharp rally started around 2:00 PM which lasted till the end of the days trading session and index finally closed at 23874 with a gain of about 430 points. Private Banks have outperformed and closed higher by 1.48%. PSU Banks have also performed well and closed higher by almost 1%. Within the index, in terms of points, ICICI Bank contributed highest while Bandhan Bank the lowest.
A narrow trading range is now visible in the index with support at 23150 and resistance at 24050. A breakout from this range will give us a trade.
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TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| HDFC | 1984.80 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1960 and for the target Of 2050. |
| BHARTI AIRTEL | 414.04 | SELL | The stock has given a breakdown from a trading range. The stock can be sold below 413 with a stop at 418.50 and for the target of 403. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| DABUR | 515 CE | BUY | 15.05 | CMP | 12 | 21 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| RAMCOCEM.Oct 29 | 773.45 | 0.32 | 12.38 | 1589500 | NTPC.Oct 29 | 79.5 | -4.22 | 15.14 | 57210900 | |
| PVR.Oct 29 | 1240.6 | 0.21 | 7.77 | 1670328 | GODREJCP.Oct 29 | 702.5 | -2.03 | 12.32 | 5462000 | |
| NAUKRI.Oct 29 | 3753.05 | 4.33 | 5.97 | 749750 | MINDTREE.Oct 29 | 1547.8 | -2.43 | 8.35 | 1858400 | |
| ACC.Oct 29 | 1554.75 | 1.72 | 4.4 | 2063000 | LICHSGFIN.Oct 29 | 286.95 | -0.49 | 8.09 | 10982000 | |
| BAJAJFINSV.Oct 29 | 6121.6 | 4.17 | 4.11 | 873750 | INFY.Oct 29 | 1131.75 | -1.65 | 5.84 | 42222000 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| CADILAHC.Oct 29 | 430.65 | 0.02 | -7.94 | 5896000 | HCLTECH.Oct 29 | 889.1 | -1.25 | -8.33 | 16279200 | |
| CANBK.Oct 29 | 88.45 | 2.55 | -7.32 | 15575000 | GLENMARK.Oct 29 | 486.65 | -1.08 | -7.05 | 7217400 | |
| MFSL.Oct 29 | 597.05 | 1.85 | -6.28 | 2154100 | ESCORTS.Oct 29 | 1235.65 | -0.65 | -6.27 | 3159200 | |
| DLF.Oct 29 | 159.5 | 2.61 | -4.92 | 26865300 | SRF.Oct 29 | 4390.8 | -0.05 | -5.93 | 634250 | |
| BAJFINANCE.Oct 29 | 3385.5 | 3.41 | -4.31 | 4376750 | WIPRO.Oct 29 | 351 | -6.96 | -5.67 | 31296000 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Icici Prudential Life In | 425.15 | 2.31 | 3084886 | 1772132 | 62.83 | Nifty Bank | 23874.65 | 1.63 | 21395627 | |
| Hindustan Unilever Ltd | 2158.15 | 0.93 | 2123033 | 1040055 | 61.94 | Nifty 50 | 11971.05 | 0.31 | 42501437 | |
| Petronet Lng Limited | 210.2 | -2.5 | 5293615 | 1885395 | 61.86 | Nifty Media | 1496.55 | 0.24 | 339775070 | |
| Sbi Life Insurance Compa | 810.6 | 3.06 | 2146423 | 630388 | 55.17 | Nifty Fmcg | 29959.6 | 0.11 | 907742 | |
| Nestleind | 15673.05 | 0 | 66595 | 39598 | 51.94 | Nifty Metal | 2251.95 | 0.1 | 225766829 | |
| Mrf Ltd. | 58903.55 | 0.54 | 16275 | 7586 | 48.19 | Nifty Auto | 8031.05 | -0.27 | 63223288 | |
| Power Grid Corporation o | 157.05 | -2.12 | 7516362 | 3018610 | 48 | Nifty Pharma | 11857.25 | -0.67 | 42656709 | |
| Eicher Motors Ltd | 2253.9 | 1.55 | 1358100 | 754522 | 47.53 | Nifty Energy | 14755 | -1.05 | 2880620 | |
| Kotak Mahindra Bank Limi | 1353.35 | 0.62 | 3358472 | 2293167 | 47.07 | Nifty it | 22204.05 | -1.28 | 4229266 | |
| Container Corp Of India | 364.85 | 0.34 | 938310 | 889810 | 46.9 | India Vix | 20.21 | -2.46 | 247752483 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| •INR: Trade Balance on 15th October, 2020
•INR : FX Reserves, USD on 16th October, 2020 |
•USD: Crude Oil Inventories on 15th October 2020
•USD: Retail Sales (MoM) (Sep)on 16th October, 2020 |
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NEWS UPDATES
| •Infosys, India’s second largest software services provider on Wednesday reported 20.5 per cent year-on-year (YoY) increase in the net profit from the September quarter. The company posted Rs.4,019 crore profit for the corresponding quarter last year. Consolidated revenue from operations increased to Rs.24,570 crore in Q2FY21, up by 8.6% YoY. The operating profit also rose to Rs.6,228 crore, growth of 26.8% YoY.
•Infosys revised its full year revenue as well as margin guidance given the highest ever deal wins in Q2. It has revised its revenue growth guidance upward to 2-3 percent in constant currency for financial year 2020-21, from 0-2 percent earlier. The full year operating margin guidance also revised upward to 23-24 percent. •The government decision’s to waive off compound interest payment for small borrowers during the six-month moratorium period should be implemented by November 2, said the Supreme Court on Wednesday, according to multiple media reports. The government’s decision is decision is welcome, but we need to see concrete results on the ground, said the court as it set November 2 as the next date of hearing in the matter. •A total of 39.43 lakh domestic passengers travelled by air in September this year, 66 per cent lower than the corresponding period last year, the country’s aviation regulator DGCA said on Wednesday. As many as 21.07 lakh and 28.32 lakh people travelled by air domestically this July and August, respectively, the regulator had said last month. 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 |
| BLFL | Quarterly Results | 15-Oct-20 | RBL | Buy Back of Shares;Quarterly Results | 15-Oct-20 |
| BONLON | Audited Results | 15-Oct-20 | RSSOFTWARE | Audited Results | 15-Oct-20 |
| CHENFERRO | Quarterly Results | 15-Oct-20 | SANKHYAIN | General | 15-Oct-20 |
| CYIENT | Quarterly Results | 15-Oct-20 | SEACOAST | General | 15-Oct-20 |
| DOLAT | Quarterly Results | 15-Oct-20 | SOUTHBANK | Quarterly Results | 15-Oct-20 |
| HATHWAY | Quarterly Results | 15-Oct-20 | SYTIXSE | Quarterly Results | 15-Oct-20 |
| IFINSER | General;Quarterly Results | 15-Oct-20 | TRIDENT | General;Quarterly Results | 15-Oct-20 |
| JUPITERIN | Quarterly Results | 15-Oct-20 | VIMTALABS | Quarterly Results | 15-Oct-20 |
| LAKSHVILAS | Right Issue of Equity Shares | 15-Oct-20 | VRFILMS | A.G.M.;General | 15-Oct-20 |
| MINDTREE | Interim Dividend;Quarterly Results | 15-Oct-20 | YASHMGM | General | 15-Oct-20 |
| MOSCHIP | A.G.M.;Quarterly Results | 15-Oct-20 | ZBHILENG | Voluntary Delisting of Shares | 15-Oct-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| ASHFL | 15-Oct-20 | Dividend – Rs. – 0.10 | SUBEX | 22-Oct-20 | Reduction of Capital |
| ELIXIR | 15-Oct-20 | Final Dividend – Rs. – 1.2500 | UNISTRMU | 23-Oct-20 | E.G.M. |
| SDBL | 15-Oct-20 | Stock Split From Rs.10/- to Rs.5/- | LTTS | 26-Oct-20 | Interim Dividend |
| VAL | 15-Oct-20 | Bonus issue 3:5 | PRIVISCL | 26-Oct-20 | Dividend – Rs. – 1.50 |
| COSPOWER | 16-Oct-20 | Final Dividend – Rs. – 1.20 | LTI | 27-Oct-20 | Interim Dividend |
| HIMTEK | 16-Oct-20 | Dividend – Rs. – 0.20 | ASIANPAINT | 28-Oct-20 | Interim Dividend |
| IRCTC | 19-Oct-20 | Final Dividend – Rs. – 2.50 | CONFIPET | 28-Oct-20 | Final Dividend – Rs. – 0.0750 |
| ISFT | 21-Oct-20 | Dividend – Rs. – 1.00 | DHINDIA | 28-Oct-20 | E.G.M. |
| HCLTECH | 22-Oct-20 | Interim Dividend | GMM | 28-Oct-20 | Interim Dividend |
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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