OUTLOOKNIFTY:

The Nifty opened at 12023.45 with a gap up of 52 points. The index first moved down by more than 100 points within the first 20 minutes of trading and then rallied almost 80 points in the next 20 minutes. The index then started a decline which lasted towards the end of the days trading session. Prices have seen a decline of more than 350 points from its intraday high to intraday low. Prices have closed at 11680.25 down by 290 points. All the sectoral indices have closed in the loss while Bank and Financials have led the decline.

Yesterday we gave a trade to buy the Nifty above 12000 and sell below 11770. The upside trade did not execute, but Nifty did fall below 11770 entering us into a short trade. The target for this trade is 11600.

The long term trend continues to be up. This decline is not unusual because this was just one day of decline after many days of rallies.

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 23149.95. 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 finally closed at 23072 with a loss of 800 points. Private Banks and PSU banks both have underperformed. Within the index, in terms of points, ICICI Bank contributed highest while Bandhan Bank contributed lowest.

Short term trend is up. A strong support is visible around 23000.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
MINDTREE 1424.85 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1395 and for the target of 1480.
GODREJCP 682.15 SELL The stock has given a breakdown from a trading range. The stock can be sold at CMP with a stop at 692 and for the target of 675-660.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
ASIANPAINT 2060 CE BUY 67 CMP 60 85 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
MOTHERSUMI.Oct 29 105.4 -5.05 20.26 27545000
GODREJPROP.Oct 29 846 -3.56 16.1 909350
APOLLOHOSP.Oct 29 2188.65 -1.82 12.45 1752500
BAJFINANCE.Oct 29 3199 -5.51 10.61 4841250
ASHOKLEY.Oct 29 72.55 -1.29 10.1 43443000
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
CUMMINSIND.Oct 29 443.5 2 -11.05 1884000 MINDTREE.Oct 29 1432 -7.48 -19.29 1500000
MGL.Oct 29 817.6 2.66 -7.3 1730400 PVR.Oct 29 1195 -3.68 -7.31 1548228
NMDC.Oct 29 80.45 0.25 -2.6 37459700 IBULHSGFIN.Oct 29 152.35 -2.34 -4.38 16116900
TATAPOWER.Oct 29 53.15 0 -1.12 71374500 ESCORTS.Oct 29 1196 -3.21 -4.14 3028300
PETRONET.Oct 29 218.15 3.34 -0.4 12030000 PNB.Oct 29 27.5 -2.83 -3.17 65520000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Itc Ltd. 165.05 -1.64 27116959 23353765 61.1 India Vix 22.06 9.14 96117
Petronet Lng Limited 218.15 3.78 7085127 2974635 56.19 Nifty Metal 2240.95 -0.49 96117
Godrej Cons Products Ltd 682.15 -2.52 1988759 1622608 55.71 Nifty Fmcg 29644.8 -1.05 96117
Hdfc Life Insurance Comp 561.5 -1.9 1773035 2103648 53.14 Nifty Auto 7935.35 -1.19 96117
Mrf Ltd. 58454.65 -0.76 9112 8496 52.2 Nifty Pharma 11637.9 -1.85 96117
Hindustan Unilever Ltd 2152.55 -0.26 2344440 1107301 52.16 Nifty Energy 14460.2 -2 96117
Havells India Limited 684.15 -1.91 1107005 1137768 48.02 Nifty Realty 209.6 -2.38 96117
Eicher Motors Ltd 2248.6 -0.24 1900931 646115 47.57 Nifty 50 11680.35 -2.43 96117
National Alum Co Ltd 29.7 -0.34 8221247 9658763 44.3 Nifty it 21567.3 -2.87 96117
Colgate Palmolive (india 1421.5 -1.75 645142 265340 43.37 Nifty Bank 23072.4 -3.36 96117

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR : FX Reserves, USD on 16th October, 2020 •USD: Retail Sales (MoM) (Sep)on 16th October, 2020

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NEWS UPDATES

•Weakness in shares of Reliance Industries IT majors and private lenders dragged the BSE Sensex lower by over 1,050 points in Thursday’s trade. The broader market too was hit equally hard with four stocks falling for every two that rose. At close, investors had lost over Rs 3.28 lakh crore in wealth, 207 stocks (mostly penny) had hit their lower circuit limits, at least 28 stocks had fallen anywhere between 8 per cent and 23 per cent .

•Reliance Industries Ltd (RIL) on Thursday said it has received Rs 5,550 crore from global investment firm KKR, which has picked up 1.28 per cent stake in its retail arm. Earlier, on September 23, RIL had announced that KKR will make the investment in its subsidiary Reliance Retail Ventures Ltd (RRVL) to buy 1.28 per cent equity stake

•RITES Ltd, a company of the Indian Railways has taken 24 per cent equity stake in Indian Railway Stations Development Corporation (IRSDC) and has got a representation on the company board. The enhanced paid-up capital in IRSDC is now held by Rail Land Development Authority (RLDA), Ircon and RITES in the ratio of 50:26:24. RITES’ induction has brought IRSDC additional capital of Rs 48 crore.

•Adani Green Energy’s joint venture with French energy major TOTAL SA has completed the acquisition of a 205 mw solar power project for an enterprise value of Rs 1,632 crore, taking the total operating renewable portfolio under the JV to 2,353 mw, the Gautam Adani-led company said on Thursday.

•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
ADROITINFO Quarterly Results 16-Oct-20 INDIANVSH Audited Results 16-Oct-20
AMAL Quarterly Results 16-Oct-20 LKPFIN Quarterly Results 16-Oct-20
ANJANIFIN Quarterly Results 16-Oct-20 LKPSEC Quarterly Results 16-Oct-20
BAJAJCON Quarterly Results 16-Oct-20 OSCARGLO Quarterly Results 16-Oct-20
CHANDRAP General;Quarterly Results 16-Oct-20 PHILIPCARB Results;Voluntary Delisting of Shares 16-Oct-20
CROWNTOURS Quarterly Results 16-Oct-20 PLASTIBLEN Quarterly Results 16-Oct-20
FEDERALBNK Quarterly Results 16-Oct-20 PROVESTSER General 16-Oct-20
GANGOTRI Quarterly Results 16-Oct-20 RPEL Quarterly Results 16-Oct-20
HCLTECH Interim Dividend;Quarterly Results 16-Oct-20 SACHEMT Quarterly Results 16-Oct-20
HEMANG General 16-Oct-20 SHAKTIPUMP General;Quarterly Results 16-Oct-20
IIFLSEC Quarterly Results 16-Oct-20 SHOPERSTOP Quarterly Results 16-Oct-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
COSPOWER 16-Oct-20 Final Dividend – Rs. – 1.20 LTTS 26-Oct-20 Interim Dividend
HIMTEK 16-Oct-20 Dividend – Rs. – 0.20 PRIVISCL 26-Oct-20 Dividend – Rs. – 1.50
IRCTC 19-Oct-20 Final Dividend – Rs. – 2.50 LTI 27-Oct-20 Interim Dividend
ISFT 21-Oct-20 Dividend – Rs. – 1.00 ASIANPAINT 28-Oct-20 Interim Dividend
CIMMCO 22-Oct-20 Amalgamation CONFIPET 28-Oct-20 Final Dividend – Rs. – 0.0750
HCLTECH 22-Oct-20 Interim Dividend DHINDIA 28-Oct-20 E.G.M.
SUBEX 22-Oct-20 Reduction of Capital GMM 28-Oct-20 Interim Dividend
INFY 23-Oct-20 Interim Dividend – Rs. – 12.00 HINDUNILVR 28-Oct-20 Interim Dividend
UNISTRMU 23-Oct-20 E.G.M. SASKEN 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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