The Nifty opened without much of a gap at 11538.45. The index made its intraday low at 11516.75 within the first 5 minutes of trading. After that prices have seen a slow and modest up move for the whole day with some minor correction in between.
Prices have seen a sharp intraday move of almost 90 points in the afternoon and also some correction in the last 30 minutes of trading.
The Nifty finally closed at 11604.55 up by 82.75 points or 0.72% Pharma and Realty sectors have led the gains and closed higher by more than 2%.
Yesterday, we had identified a narrow range in the Nifty and suggested buy above 11,565 and selling short below 11,435. the Nifty moved above 11565, setting up a buy trade at the entry price of 11,565. the index closed at 11,600,thus registering minor gains in the trade.
We do not wish to take any risk at these elevated levels of the index. We should therefore now move our stop loss to 11,550, which are almost at breakeven. Our target is 11,695.
As the Nifty crosses 11585, it also set up a bullish head and shoulder pattern which gives a target of almost 500 points which comes to 12085. The stop for this trade is 11515. The trend is up and traders should look to buy on all dips while the index remains above 11515.
Bank Nifty opened at 22476.30 without much of a gap. Prices first moved down almost 290 points and then rallied about 440 points in the second half. Private banks have outperformed and closed higher by 0.43% while PSU Banks have underperformed and closed lower by 0.52%. Within the index, in terms of points HDFC Bank contributed highest while Axis Bank the lowest. It was a choppy day where prices closed near its open after moving both sides. The index has a strong support of 21500 while strong resistance at 23000. A breakout from a small range of 22000-22800 in which the index has been trading for the last six days may give a breakout.
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|TATAMOTORS||151.45||BUY||The stock has given a breakout from a range. The stock can be bought at CMP with a stop at 146.50 and for the target of 156-162.|
|SUNPHARMA||518.50||SELL||The stock has given a breakout from a range. The stock can be bought at CMP with a stop at 510 and for the target of 535.|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|ULTRATECH||3950 CE||BUY||101.35||CMP||90||130||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|NMDC.Sep 24||91.25||1.5||23.84||40200000||SUNTV.Sep 24||481.05||-3.03||14.6||5251500|
|LICHSGFIN.Sep 24||301.95||2.15||12.54||10626000||ITC.Sep 24||181.25||-0.71||11.98||109251200|
|CHOLAFIN.Sep 24||238.05||2.1||12.09||5770000||UBL.Sep 24||1036.6||-1.58||11.68||1438500|
|BANKNIFTY.Sep 24||22646.45||0.39||10.68||1808725||HCLTECH.Sep 24||791.8||-0.16||9.35||14658000|
|LUPIN.Sep 24||1025||2||10.04||7161250||TORNTPOWER.Sep 24||329||-1.05||8.43||2430000|
|Short Covering||Long Unwinding|
|SIEMENS.Sep 24||1256.3||1.09||-3.95||1861200||TATACHEM.Sep 24||301.25||-1.81||-5.77||7388000|
|TITAN.Sep 24||1184||0.47||-2.7||5756250||GMRINFRA.Sep 24||23.95||-0.21||-5.52||72405000|
|SHREECEM.Sep 24||20342.9||1.29||-2.48||181050||TORNTPHARM.Sep 24||2849.85||-0.42||-3.32||933000|
|ADANIENT.Sep 24||300.4||3.84||-2.14||16500000||IDEA.Sep 24||11.65||-1.27||-2.78||294000000|
|SRF.Sep 24||4357.8||0.54||-1.93||597000||CUMMINSIND.Sep 24||481.5||-0.83||-2.73||2182800|
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TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Mrf Ltd.||59573.95||2||23565||32989||81.22||Nifty Realty||226.35||2.26||79419|
|Vedanta Limited||134.3||2.09||20434417||6720631||60.34||Nifty Pharma||11688.55||2.08||79419|
|Container Corp Of India||387.2||-0.4||1545351||837474||59.18||Nifty Auto||8156.2||1.53||79419|
|Hdfc Life Insurance Comp||598.6||0.74||2164876||1397713||58.93||Nifty it||19770.35||0.73||79419|
|Itc Ltd.||180.65||-0.63||50645681||15870589||51.57||Nifty 50||11604.55||0.72||79419|
|Tata Consumer Products l||542.4||0.01||2127939||900795||49.67||Nifty Bank||22573.55||0.48||79419|
|Hindustan Unilever Ltd||2143.5||0.9||2087842||601984||49.18||Nifty Metal||2396.35||0.45||79419|
|United Spirits Limited||547.95||1.21||4483312||1101886||48.26||Nifty Fmcg||30837.55||0.41||79419|
|Colgate Palmolive (india||1420.4||0.02||271029||134915||46.34||Nifty Energy||15829.45||-0.43||79419|
|National Alum Co Ltd||34.5||0.58||9957488||5272388||45.23||India Vix||19.66||-4.56||79419|
UPCOMING ECONOMIC DATA
|•INR: FX Reserves, USD on 18th September, 2020||•USA: Building Permits (Aug) on 17th September, 2020
•USA: Initial Jobless Claims on 17th September, 2020
|•Sterling and Wilson Solar Ltd on Wednesday said its consolidated net profit dipped 62 per cent on a year-on-year basis to Rs 17.22 crore in the June quarter mainly due to lower revenues. The consolidated net profit of the company stood at Rs 46.01 crore in the quarter ended June 30, 2019, a BSE filing said.
•A year since its listing, Sterling & Wilson Solar still awaits full payment of the intercorporate loan, the company extended to its promoters prior to the public offer. In a notification to the exchanges, the company said it has now extended the repayment timeline by another year. In an NSE release, the company said, “Further extension of time upto September 30, 2021 to facilitate funding for the repayment of part of June 2020 installment and September 2020 installment has been approved by the board. “
•Russian Direct Investment Fund has inked a deal with Dr. Reddy’s Laboratories to conduct a clinical trial and distribution of Sputnik V in India. Under the agreement, Russia’s sovereign wealth fund will supply 100 million doses of Russia’s COVID-19 vaccine to Indian drug maker. Both the trials and supply deal depend on central drug regulator’s approval. If the trials are successful, the vaccine will be available in India as by the end of this year.
•A total of 28.32 lakh domestic passengers travelled by air in August this year, 76% lower than the corresponding period last year, aviation regulator DGCA said on Wednesday. While IndiGo carried 16.82 lakh passengers, a 59.4% share of the total domestic market, SpiceJet flew 3.91 lakh passengers, which is 13.8% share of the total market.
Source: Economic Times, Moneycontrol ,Business Today,Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|BFUTILITIE||Audited Results||17-Sep-20||CHADPAP||Audited Results||21-Sep-20|
|MAGNAELQ||Buy Back of Shares||18-Sep-20||PRABHAT||Audited Results||22-Sep-20|
|OLYOI||Quarterly Results||18-Sep-20||AIML||Audited Results||23-Sep-20|
|RITES||Buy Back of Shares||18-Sep-20||RUBFILA||Preferential Issue of shares||24-Sep-20|
|MERMETL||Right Issue of Equity Shares;General||19-Sep-20||MAHESH||Quarterly Results||30-Sep-20|
|MHEL||General||19-Sep-20||UDL||Audited Results;Quarterly Results||30-Sep-20|
|SHREMETAL||General||19-Sep-20||UNIPLY||Audited Results;Quarterly Results||30-Sep-20|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|ACKNIT||17-Sep-20||Final Dividend – Rs. – 1.50||BERGEPAINT||17-Sep-20||Final Dividend – Rs. – 0.30|
|ANUP||17-Sep-20||Final Dividend – Rs. – 7.00||BLIL||17-Sep-20||Final Dividend – Rs. – 37.50|
|APOLLO||17-Sep-20||Dividend – Rs. – 0.50||BLISSGVS||17-Sep-20||Dividend – Rs. – 0.50|
|APOLLOHOSP||17-Sep-20||Final Dividend – Rs. – 2.75||CANTABIL||17-Sep-20||Final Dividend – Rs. – 1.00|
|ARIHCAPM||17-Sep-20||Dividend – Rs. – 1.00||CEEJAY||17-Sep-20||Dividend – Rs. – 1.00|
|BALMLAWRIE||17-Sep-20||Final Dividend – Rs. – 7.50||CHEVIOT||17-Sep-20||Buy Back of Shares|
|BEML||17-Sep-20||Final Dividend – Rs. – 3.50||CIFL||17-Sep-20||Final Dividend – Rs. – 0.10|
|BEPL||17-Sep-20||Final Dividend – Rs. – 0.50||CREATIVE||17-Sep-20||Final Dividend – Rs. – 10.00|
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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