OUTLOOK-2020-09-17NIFTY:

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:

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.

Trade AnyTime AnyWhere With Elite Empower Mobile App

Elite-Empower-App-Promotional-Banner-img1

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
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.

Get All Your Mutual Fund Portfolio Retuns on Your Mobile by Elite Kuber App


Elite-Kuber-Mutual-Fund-Promotional-Banner-img

DERIVATIVE PICKS

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
Sector Price Price% OI% OI Sector Price Price% OI% OI
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

Get Stock Market Recommendation By Our Research Analysts

Market-Research-Promotional-Banner-img5

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
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

   Domestic                                                                                                                                                  International
•INR: FX Reserves, USD on 18th  September, 2020 •USA: Building Permits (Aug) on 17th September, 2020

•USA: Initial Jobless Claims on 17th September, 2020

Open Your Demat Account to Invest in Upcoming IPO’sDemat-and-Trading-Account-Promotion-Banner

NEWS UPDATES

•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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BFUTILITIE Audited Results 17-Sep-20 CHADPAP Audited Results 21-Sep-20
KILPEST Amalgamation 17-Sep-20 MOHOTAIND Quarterly Results 21-Sep-20
KUMAKAIND Bonus issue 17-Sep-20 NOVAPUB General 22-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
TERAI Audited Results 18-Sep-20 BETALA A.G.M.;General 29-Sep-20
TOYAMIND General 18-Sep-20 DDIL A.G.M.;General 29-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

CORPORATE ACTION

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


For Daily Share Market Updates, Daily debt market review, Market Research Analysis reports, Weekly Techno-Funda Report, Fundamental Analysis Report, Monthly Recommended stock Picks, Equity Trading Tips, Upcoming IPO/NFO/Bonds/Ncd’s updates & other related information Subscribe our research plan