OUTLOOK-2020-09-15NIFTY:

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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