The Nifty opened at 11584.10 with a gap up of 68 points. The index traded narrow and choppy for almost the whole day. Prices have traded very narrowly inside a range of just 44 points till 2:20 PM. Then a sharp decline of more than 120 points within the 20 minutes of trading and prices have made its intraday low at 11466.10. Prices have seen some recovery in the last hour of trading and finally closed at 11504.95 down by just 11 points. The Pharma sector shines and closed higher by almost 5% followed by the Realty sector which was up by 1.91%.
We had identified a narrow range in the Nifty and suggested buying above 11612 and going short below 11490. After a fairly choppy market move in the morning, The Nifty fell and broke the support level of 11490, thus initiating a short position. Traders should now be short in the Nifty. The stop for this position continues to be at 11540. The target on the downside is 11370.
The Long term trend continues to be up although there are signs that the trend is now flattening out. Long term momentum is rising despite Friday’s decline. The intermediate trend also continues to be up. Intermediate momentum is in the strength area but has started falling. Perhaps early next week, we will know if these trends will persist or a decline may start.
Bank Nifty opened at 22429.35 with a gap up of 105 points. The index started falling just after the opening tick and continued for the whole day. Prices have seen a sharp decline of almost 500 points around 2:30 PM and finally closed at 22031 with a loss of about 300 points. PSU and Private banks both have performed same and closed lower by more than 1%. Within the index, in terms of points, ICICI Bank contributed highest while HDFC Bank the lowest. It was a downside trend day where prices have opened near its high and closed near its intraday lows. Prices have given a breakdown from its range of 22000-22800. Although saw slight covering and closed inside the range.
Trade AnyTime AnyWhere With Elite Empower Mobile App
|AUROPHARMA||828.10||BUY||The stock has given a breakout from a range. The stock can be bought at CMP with a stop at 810 and for the target of 845-860|
|BHARTI AIRTEL||494.55||BUY||The stock has given a breakout from a range. The stock can be bought at CMP with a stop at 485 and for the target of 504-510|
Get All Your Mutual Fund Portfolio Retuns on Your Mobile by Elite Kuber App
|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|GRASIM||740 CE||BUY||18.80||17||13.50||25||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|DRREDDY.Sep 24||5316.5||10.14||30.39||3568000||IGL.Sep 24||415.7||-0.69||30.69||7693125|
|APOLLOHOSP.Sep 24||1831.95||3.25||13.3||1196500||INDUSINDBK.Sep 24||617||-0.09||16.6||32611200|
|GODREJPROP.Sep 24||917.95||1.5||11.55||772200||CUMMINSIND.Sep 24||478.5||-1.76||14.36||2160000|
|CHOLAFIN.Sep 24||242.45||1.55||11.34||5795000||PETRONET.Sep 24||227.55||-3.11||11.15||11787000|
|M&M.Sep 24||654.3||2.71||10.33||15839600||COLPAL.Sep 24||1380.85||-1.54||10.93||2741900|
|Short Covering||Long Unwinding|
|GRASIM.Sep 24||744||2.34||-17.6||14254750||APOLLOTYRE.Sep 24||130.7||-2.43||-7.02||7155000|
|GMRINFRA.Sep 24||23.85||0.21||-7.47||62955000||SAIL.Sep 24||38||-0.91||-5.17||42503000|
|SUNPHARMA.Sep 24||524.1||2.08||-3.2||32446400||PNB.Sep 24||32.45||-2.7||-4.76||38136000|
|WIPRO.Sep 24||317.35||1.63||-2.65||21014400||L&TFH.Sep 24||63.8||-1.54||-4.32||28471600|
|SUNTV.Sep 24||485.1||2.28||-2.41||4975500||JUBLFOOD.Sep 24||2361.6||-1.94||-4.07||2120000|
Get Stock Market Recommendation By Our Research Analysts
TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Petronet Lng Limited||228.2||-2.42||3657906||3156291||64.46||Nifty Pharma||12320.9||4.98||83364|
|Hindustan Unilever Ltd||2098.7||-1.39||4475209||1115937||64.07||Nifty Energy||15777.1||0.57||83364|
|Container Corp Of India||389.3||0.12||2125693||1602456||61.14||Nifty Auto||8161.7||0.41||83364|
|Hdfc Ltd.||1724||-1.17||5642506||1681077||52.67||Nifty it||19827.1||0.05||83364|
|Tata Consultancy Serv Lt||2449.9||-0.45||4183256||2534877||52.5||Nifty Metal||2362.2||-0.05||83364|
|Max Financial Services l||610.5||-1.75||858384||560280||52.04||Nifty 50||11504.95||-0.1||83364|
|Vedanta Limited||130.95||-2.49||16354338||3349871||49.45||India Vix||20.05||-0.27||83364|
|Bosch Limited||13070.6||0.83||89575||45278||46.89||Nifty Fmcg||30460.85||-0.62||83364|
|Sbi Life Insurance Compa||848.1||-0.94||1245818||282524||46.14||Nifty Bank||22031.05||-1.3||83364|
UPCOMING ECONOMIC DATA
|•INR: Bank Loan Growth on 25th September, 2020
•INR: FX Reserves, USD on 25th September, 2020
|•USD: Existing Home Sales (Aug) on 22nd September, 2020
•USD: Crude Oil Inventories on 23rd September, 2020
|•Promoter Epsilon Bidco, an affiliate of funds managed or advised by the US-based Blackstone Group, has offloaded 23 percent equity stake in Essel Propack via open market transaction on September 18. It sold 1.8 crore equity shares in the laminated and coex tubes manufacturer at Rs 256.44 and 5,45,80,090 shares at Rs 256.49 each.
•The board of directors at government-owned RITES Ltd has approved buy-back of 96.98 lakh equity shares with a face value of Rs 10 each at Rs 265 per share, translating into the total buyback amount not exceeding Rs 257 crore. The company was listed in July 2018. At present 72.02 per cent of its shares are held by the government and the balance are with public and financial institutions.
•India Ratings and Research on Friday said it had revised its outlook on the banking sector to negative for the second half of FY21 (H2FY21) from stable. The change was made in view of an expected spike in stressed assets, higher credit costs, weaker earnings on account of interest reversals and lower fee income, and muted growth prospects in the wake of the measures taken to contain the spread of Covid-19.
•Dewan Housing Finance (DHFL) has issued a demand notice for loan overdues of over Rs 112 crore from Pune-based Landscape Realty and its guarantors, which include entities and individuals linked to the 187-year-old PNG Jewellers, a popular chain of gold retailing shops.
Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|BLUBLND-B||Audited Results||21-Sep-20||PRABHAT||Audited Results||22-Sep-20|
|HSIL||Buy Back of Shares||21-Sep-20||SANGHVIFOR||Quarterly Results||22-Sep-20|
|MOHOTAIND||Quarterly Results||21-Sep-20||SOBME||General;Quarterly Results||22-Sep-20|
|MOLDTKPAC||Right Issue of Equity Shares||21-Sep-20||SPANDANA||General||22-Sep-20|
|SRD||Bonus issue;In. in Authorised Cap.||21-Sep-20||AIML||Audited Results||23-Sep-20|
|ARTEMISELC||Audited Results;Quarterly Results||22-Sep-20||BCPL||General||23-Sep-20|
|HARISH||Quarterly Results||22-Sep-20||CREDITACC||Audited Results;General||23-Sep-20|
|OONE||Quarterly Results||22-Sep-20||KONARKSY||Quarterly Results||23-Sep-20|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|AINFRA||21-Sep-20||Final Dividend – Rs. – 0.10||CONCOR||21-Sep-20||Final Dividend – Rs. – 2.8500|
|AMBIKCO||21-Sep-20||Final Dividend – Rs. – 15.00||CYBERTECH||21-Sep-20||Final Dividend – Rs. – 1.00|
|BENARAS||21-Sep-20||Final Dividend – Rs. – 7.50||DIVSHKT||21-Sep-20||Final Dividend – Rs. – 1.50|
|BRPL||21-Sep-20||Final Dividend – Rs. – 1.00||ELCIDIN||21-Sep-20||Final Dividend – Rs. – 15.00|
|CAPPL||21-Sep-20||Final Dividend – Rs. – 0.40||FORCEMOT||21-Sep-20||Final Dividend – Rs. – 10.00|
|CHAMANSEQ||21-Sep-20||Final Dividend – Rs. – 0.50||FRONTSP||21-Sep-20||Final Dividend – Rs. – 1.10|
|CMI||21-Sep-20||Dividend – Rs. – 0.50||GOLDCORP||21-Sep-20||Final Dividend – Rs. – 0.50|
|COCHINSHIP||21-Sep-20||Dividend – Rs. – 15.00||GRMOVER||21-Sep-20||Dividend – Rs. – 5.00|
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