NIFTY:
The Nifty opened with a gap up of almost 80 points at 11540. The Nifty continued to move in a narrow range for half the day. Around 11:45 AM the Nifty made its high at 11568.90 and started its downward move. This down move continued for the rest of the day with Nifty making its low at 11383.55 by 2:15PM. That’s about a 180 points downside move from the highs with Nifty managing to break its previous resistance, then intraday support of 11450 with ease. The Nifty made its low at the previous breakout mark and close to the support of 11350. The Nifty after making that low gave a pullback and closed at 11440.05 with a loss of 24 points.
In the index, IT sector has outperformed with HCL Tech making the biggest gains and closing above by 10%.
As expected, the small and mid cap sectors have performed exceptionally well.
In the index, we can 11350 and 11200 are good support levels. Traders can look to buy Nifty if it opens above 11350 and sustains above its 15 minutes high with a stop at 11350 and for the target of 11550.
BANK NIFTY:
Bank Nifty opened at 22688.35 with a gap up of more than 200 points and above its short term resistance of 22500. After making its high of 22757 in the first 15 minutes of trading, the index started declining and made its low at 22028 and closed at 22101 down by 1.68%.
PSU Banks have performed better than the Private Banks although both have closed in the reds. Banking sector has remained in pressure and make continue to be so. Our major indicator will be if the index goes below 22000 sustains and closes below that level, we may see a further fall.
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TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| ESCORTS | 1246.50 | BUY | The stock has given a breakout from a range. The stock can be bought at CMP with a stop at 1220 and for the target of 1295. |
| INDIGO | 1321.15 | BUY | The stock has given a breakout from a range. The stock can be bought between 1310-1315 with a stop at 1290 and for the target of 1350. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| MINDTREE | 3160 CE | BUY | 102.50 | CMP | 85 | 125 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| INDIGO.20.09 Sep | 1312.5 | 2.14 | 27.87 | 3347000 | BANKNIFTY.20.09 Sep | 22153 | -1.71 | 24.03 | 1856650 | |
| MINDTREE.20.09 Sep | 1226 | 3.18 | 26.21 | 2311200 | UBL.20.09 Sep | 1054.8 | -0.85 | 14.2 | 1261400 | |
| AMARAJABAT.20.09 Sep | 765.6 | 2.35 | 24.71 | 1307000 | BHARTIARTL.20.09 Sep | 475.8 | -3.68 | 10.75 | 135374736 | |
| ESCORTS.20.09 Sep | 1245.95 | 3.6 | 24.09 | 2968900 | BAJFINANCE.20.09 Sep | 3445.4 | -2.92 | 10.68 | 5281750 | |
| VOLTAS.20.09 Sep | 689.6 | 4.71 | 21.96 | 2521000 | BANDHANBNK.20.09 Sep | 299.3 | -4.47 | 10.5 | 20318400 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| APOLLOTYRE.20.09 Sep | 125 | 7.11 | -6.72 | 11040000 | ADANIENT.20.09 Sep | 293 | -1.41 | -4.34 | 17540000 | |
| UPL.20.09 Sep | 517.25 | 3.24 | -5.31 | 9360000 | TORNTPHARM.20.09 Sep | 2796.35 | -1.65 | -3.65 | 871500 | |
| CANBK.20.09 Sep | 101.7 | 0.49 | -4.59 | 11425000 | CADILAHC.20.09 Sep | 368.5 | -0.75 | -2.5 | 10043000 | |
| BEL.20.09 Sep | 105.9 | 4.49 | -2.29 | 35621200 | MUTHOOTFIN.20.09 Sep | 1126.45 | -0.56 | -1.79 | 3954000 | |
| NAUKRI.20.09 Sep | 3432.1 | 1.13 | -2.26 | 615000 | IOC.20.09 Sep | 82.9 | -0.48 | -1.75 | 58185600 | |
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TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Power Grid Corporation o | 171.5 | -2.08 | 7956020 | 6827491 | 73.76 | Nifty it | 19505.1 | 4.68 | 83382 | |
| Mrf Ltd. | 58519.85 | -1.19 | 17430 | 1251165 | 51.45 | India Vix | 21.19 | 2.32 | 83382 | |
| Icici Prudential Life In | 430.35 | -2 | 1630656 | 2462792 | 51.06 | Nifty Media | 1658.85 | 1.77 | 83385 | |
| Hdfc Ltd. | 1738 | -1.71 | 4061493 | 1643387 | 48.81 | Nifty Auto | 8035.35 | 0.99 | 83382 | |
| Nestleind | 16083.3 | -1.48 | 102927 | 296402 | 46.73 | Nifty Metal | 2387.05 | 0.12 | 83382 | |
| Shree Cements Ltd. | 19789.5 | 1.47 | 60868 | 33184 | 44.49 | Nifty 50 | 11440.05 | -0.21 | 83382 | |
| Grasim Ind Ltd. | 707 | -1.93 | 3044866 | 1590086 | 43.62 | Nifty Fmcg | 30760.5 | -0.68 | 83382 | |
| Kotak Mahindra Bank Limi | 1304.7 | -1.93 | 3891183 | 8923960 | 43.57 | Nifty Pharma | 11233.3 | -0.71 | 83382 | |
| Ultratech Cement Limited | 3914.1 | 0.26 | 472618 | 1395476 | 42.16 | Nifty Energy | 15829.15 | -0.71 | 83382 | |
| Divi S Laboratories Limi | 3164.8 | 0.58 | 773894 | 146232 | 41.73 | Nifty Bank | 22101.25 | -1.68 | 83382 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| •INR: Trade Balance on 15th September, 2020
•IN R: FX Reserves, USD on 18th 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
|
•Indian Oil Corp, the country’s top refiner, expects local demand for gasoline and gasoil to reach pre-pandemic levels in the first half of next fiscal year beginning April 2021, Chairman SM Vaidya said on Monday. India, the world’s third-biggest oil importer and consumer, has experienced a sharp decline in its fuel demand, mirroring a global trend following the coronavirus outbreak. •HCL Technologies on Monday said that it expects the revenue and the operating margin for the September quarter to be better than the top end of the guidance provided in July 2020. The revenue growth for the current quarter is expected to exceed 3.5% quarter on quarter in constant currency, enabled by broad based momentum across all service lines, verticals and geographies,” it added. The company expects margins to be between 20.5 per cent and 21 per cent in the quarter. •Investor demand for Reliance Industries Ltd.’s retail business is so strong that Carlyle Group Inc. and SoftBank Group Corp. are among those that have been put onto a waiting list, according to people familiar with the matter. •In a bid to accelerate its path to break into top 10 global commercial vehicle market, Ashok Leyland on Monday expanded its presence into a resilient light commercial vehicle market with the new generation Phoenix platform and de-risk itself from the cyclical medium and heavy truck segment, which is witnessing its worst time post Pandemic. Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| CANTABIL | Quarterly Results | 15-Sep-20 | MANPASAND | Quarterly Results | 15-Sep-20 |
| ECS | Quarterly Results | 15-Sep-20 | MAYUR | Quarterly Results | 15-Sep-20 |
| ELCIDIN | Quarterly Results | 15-Sep-20 | MTNL | Audited Results | 15-Sep-20 |
| FEL | Quarterly Results | 15-Sep-20 | ORIENTTR | Quarterly Results | 15-Sep-20 |
| FELDVR | Quarterly Results | 15-Sep-20 | PGHL | Final Dividend;Quarterly Results | 15-Sep-20 |
| GAMMONIND | Quarterly Results | 15-Sep-20 | PRISMFN | Quarterly Results | 15-Sep-20 |
| GKCONS | Quarterly Results | 15-Sep-20 | REMSONSIND | Quarterly Results | 15-Sep-20 |
| GLITTEKG | Quarterly Results | 15-Sep-20 | RESONANCE | Quarterly Results | 15-Sep-20 |
| HASTIFIN | Quarterly Results | 15-Sep-20 | SPICEJET | Quarterly Results | 15-Sep-20 |
| INDOGLOBAL | Quarterly Results | 15-Sep-20 | STCINDIA | Quarterly Results | 15-Sep-20 |
| INDOTECH | Quarterly Results | 15-Sep-20 | TATIAGLOB | General;Quarterly Results | 15-Sep-20 |
| ITDCEM | Quarterly Results | 15-Sep-20 | TCIFINANCE | Quarterly Results | 15-Sep-20 |
| JATALIA | Quarterly Results | 15-Sep-20 | VARDHMAN | Quarterly Results | 15-Sep-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| AARTECH | 15-Sep-20 | Final Dividend – Rs. – 0.50 | ENIL | 15-Sep-20 | Dividend – Rs. – 1.00 |
| AVTNPL | 15-Sep-20 | Final Dividend – Rs. – 0.3500 | ITDCEM | 15-Sep-20 | Dividend – Rs. – 0.30 |
| BEL | 15-Sep-20 | Final Dividend – Rs. – 1.40 | JTEKTINDIA | 15-Sep-20 | Dividend – Rs. – 0.3500 |
| BGWTATO | 15-Sep-20 | Final Dividend – Rs. – 1.00 | KCPSUGIND | 15-Sep-20 | Dividend – Rs. – 0.10 |
| COMPUSOFT | 15-Sep-20 | Final Dividend – Rs. – 0.30 | NIRLON | 15-Sep-20 | Dividend – Rs. – 0.7500 |
| DEEPAKFERT | 15-Sep-20 | Dividend – Rs. – 3.00 | ORVENPR | 15-Sep-20 | Dividend – Rs. – 0.20 |
| DHUNTEAIND | 15-Sep-20 | Dividend – Rs. – 2.50 | PPL | 15-Sep-20 | Dividend – Rs. – 1.20 |
| DLF | 15-Sep-20 | Final Dividend – Rs. – 0.80 | ROSSELLIND | 15-Sep-20 | Final Dividend – Rs. – 0.20 |
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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