The Nifty opened higher with a gap up of almost 47 points at 11487.20. Prices settled and then saw a decline of almost 60 points and recorded its intraday low at 11442.25. Prices have seen a bounce back from that low and quickly recovered all its morning losses. Prices then traded sideways till the afternoon. Around 1:00 PM the index again moved up and then continued that rally towards the end of the session. Finally, the Nifty closed higher by 81.75 points at 11521.80.
Banks and Pharma both sectors have performed well.
A narrow trading range is now visible in the Nifty 30 minute chart with support at 11435 and resistance around 11565. This 130 points of trading range should resolve one way or another. We should go with the flow.
The trade is to buy above 11565 or sell short below 11435. We should place a tight stop of 60 points for this trade with a target of 130 points.
Bank Nifty opened at 22202.80 with a gap up of 111 points. The index traded sideways and narrow for most of the day but seen a sharp rally in the last hour of trading. Prices have finally closed with a gain of about 450 points. Private Banks have outperformed and closed higher by 1.85%. Within the index, in terms of points, ICICI Bank contributed highest while PNB the lowest. It was an uptrend day in the index, where prices opened neared the lows and closed near the highs of the day.
Trend continues to stay sideways with support a 21500 and strong resistance around 23000. Within these boundaries prices have built a narrow range of 22000-22800. A breakout from this range can give a fresh move either side.
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|IGL||417.60||BUY||The stock has given a breakout from a range. The stock can be bought above 419 with a stop just below 412 and for the target of 433.|
|TATA CONSUMER||543.75||SELL||The stock has been trading sideways and now has formed a bearish pattern. We may see a breakdown. The stock can be sold below 542 with a stop at 549 and for the target of 528.|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|INDUSIND BANK||620 CE||BUY||39.10||CMP||35||50||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|CUMMINSIND.Sep 24||485.5||2.58||26.33||2245200||TITAN.Sep 24||1174.3||-1.14||14.15||6194250|
|SIEMENS.Sep 24||1243.2||0.64||26.18||2033350||WIPRO.Sep 24||306.6||-0.24||12.44||31190400|
|TORNTPHARM.Sep 24||2867.2||2.41||12.29||973000||PVR.Sep 24||1263.5||-2.77||12.35||1713877|
|TATACHEM.Sep 24||307.5||0.85||9.41||8252000||SAIL.Sep 24||39.4||-0.76||9.41||48830000|
|IDEA.Sep 24||11.8||2.16||8.77||354200000||HCLTECH.Sep 24||793||-0.29||8.98||16931600|
|Short Covering||Long Unwinding|
|APOLLOHOSP.Sep 24||1661.85||2.09||-8.03||1116500||ESCORTS.Sep 24||1234.8||-1.26||-6.96||2719200|
|IDFCFIRSTB.Sep 24||32.3||4.53||-7.82||127490000||MFSL.Sep 24||618.25||-0.63||-4.32||1901900|
|BAJFINANCE.Sep 24||3518.1||2.1||-5.95||4918750||TECHM.Sep 24||790.5||-0.51||-3.94||10462800|
|CADILAHC.Sep 24||375.8||1.83||-5.73||9369800||IOC.Sep 24||82.7||-0.3||-0.94||57427500|
|M&MFIN.Sep 24||138.65||3.62||-2.75||15343020||COFORGE LIMITED.Sep 24||2149||-0.57||-0.92||562875|
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TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Hindustan Unilever Ltd||2124.45||0.04||1224059||1265188||60.33||Nifty Pharma||11450.5||1.93||77163|
|Colgate Palmolive (india||1420.15||0.25||291168||411939||54.53||Nifty Bank||22465.65||1.65||77163|
|Larsen & Toubro Limited||909.95||0.87||4488940||2645571||52.84||Nifty 50||11521.8||0.71||77163|
|Hdfc Ltd.||1758.75||1.19||3159537||2125122||52.32||Nifty it||19627.3||0.63||77163|
|Petronet Lng Limited||240.5||1.61||2666364||2175818||52.12||Nifty Energy||15898.6||0.44||77163|
|Havells India Limited||671.05||0.3||2016966||1678834||51.74||Nifty Auto||8033.5||-0.02||77163|
|Mindtree Limited||1251.7||2.46||1766241||1849212||46.76||Nifty Fmcg||30712.2||-0.16||77163|
|Itc Ltd.||181.8||-0.85||30772104||14423622||46.54||Nifty Media||1651.8||-0.42||77163|
|Kotak Mahindra Bank Limi||1323.95||1.48||5029913||1804957||46.39||India Vix||20.6||-2.78||77163|
UPCOMING ECONOMIC DATA
|•INR: FX Reserves, USD on 18th September, 2020||•USA: Fed Interest Rate Decision on 16th September, 2020
•USA: Crude Oil Inventories on 16th September, 2020
|•Minda Industries on Tuesday said it has raised over Rs 242 crore by way of a rights issue to existing investors. On June 29, the board of directors of Minda Industries approved issuance of equity shares by way of a rights issue to eligible equity shareholders of the company for an aggregate amount not exceeding Rs 250 crore.
•Private sector general insurer ICICI Lombard General Insurance Company Ltd on Monday said it has entered into a bancassurance tie-up with Yes Bank for selling its insurance products. “The partnership will provide the bank’s diverse customer base access to the insurer’s portfolio and make insurance more accessible to its customers across India,” ICICI Lombard General Insurance Company said.
•Multiplex operator PVR Cinemas suffered a consolidated loss after tax of Rs 226 crore in the first quarter (April to June) of the current financial year as compared to a profit of Rs 18 crore during the corresponding period of last year. The revenues in Q1 FY21 totalled Rs 55 crore as compared to Rs 887 crore in Q1 FY20 due to the outbreak of COVID-19 and consequent lockdown.
•Computer Age Management Services (CAMS), the largest registrar and transfer agent of mutual funds, will open its initial public offering on September 21, according to the RHP. The anchor investors’ book will open for a day on September 18. The offer for sale indicated that the NSE Investments is going to offload its entire stake in CAMS via IPO.
Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|NIYOGIN||Employees Stock Option Plan||16-Sep-20||CHADPAP||Audited Results||21-Sep-20|
|KUMAKAIND||Bonus issue||17-Sep-20||AIML||Audited Results||23-Sep-20|
|MAGNAELQ||Buy Back of Shares||18-Sep-20||RUBFILA||Preferential Issue of shares||24-Sep-20|
|RITES||Buy Back of Shares||18-Sep-20||DDIL||A.G.M.;General||29-Sep-20|
|TERAI||Audited Results||18-Sep-20||MAHESH||Quarterly Results||30-Sep-20|
|TOYAMIND||General||18-Sep-20||UDL||Audited Results;Quarterly Results||30-Sep-20|
|MERMETL||Right Issue of Equity Shares;General||19-Sep-20||UNIPLY||Audited Results;Quarterly Results||30-Sep-20|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|BHARATRAS||16-Sep-20||Final Dividend – Rs. – 1.50||ITL||16-Sep-20||Dividend – Rs. – 0.50|
|DEEPAKFERT||16-Sep-20||Dividend – Rs. – 3.00||KEERTHI||16-Sep-20||Dividend – Rs. – 0.90|
|DEEPAKFERT||16-Sep-20||Right Issue of Equity Shares||KPRMILL||16-Sep-20||Final Dividend – Rs. – 0.7500|
|DVL||16-Sep-20||Dividend – Rs. – 0.50||LUXIND||16-Sep-20||Final Dividend – Rs. – 2.50|
|ECLERX||16-Sep-20||Final Dividend – Rs. – 1.00||MALLCOM||16-Sep-20||Dividend – Rs. – 2.00|
|FLEXFO||16-Sep-20||Dividend – Rs. – 0.7500||MAZDALTD||16-Sep-20||Final Dividend – Rs. – 2.50|
|HBLPOWER||16-Sep-20||Final Dividend – Rs. – 0.10||MGL||16-Sep-20||Final Dividend – Rs. – 10.50|
|ICRA||16-Sep-20||Dividend – Rs. – 27.00||MGL||16-Sep-20||Special Dividend – Rs. – 15.00|
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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