NIFTY:
The Nifty opened at 11890 with a gap down of 47 points. Prices filled the gap within the first 5 minutes of trading. Prices have made its intraday high at 11939.55 and intraday low at 11823.45 and saw some volatile movement within these levels for the whole day. The index finally closed at 11896.45 down by 41.20 points. Banks, IT and Pharma have led the decline while Media, Metal and Realty outperformed. After daybefore’s large volatile day we expected narrow and choppy movement and that’s what happened. The index broke its four days of higher closing streak and closed just below 11900.
An intraday trade opportunity has emerged for today where we can buy the index above 11940 or sell short below 11820 with a stop of 50 points.
BANK NIFTY:
Bank Nifty opened at 24447.35 with a gap down of 189 points. The index traded very volatile and range bound intraday and closed at 24489.85 with a loss of 147 points. Private Banks have underperformed and closed lower by 0.70%. Within the index in terms of points, Axis Bank contributed highest while ICICI bank contributed the lowest.
We had a long position in the index taken around 24320 with a stop of 24300 and for the target of 25200. We have been stopped out of out position with a loss of 20 points.
The index traded volatile. Short term resistance is visible around 24700 and major resistance at 25500.
Intraday traders can look to buy above 24700 or sell below 24200
Trade AnyTime AnyWhere With Elite Empower Mobile App
TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| LT | 936.30 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 920 and for the target 960. |
| INFRATEL | 195.90 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought between 194-195 with a stop at 191 and for the target of 200-205. |
Get All Your Mutual Fund Portfolio Retuns on Your Mobile by Elite Kuber App
DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| IGL | 390 CE | BUY | 9 | CMP | 7.50 | 12.50 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| POWERGRID.Oct 29 | 165.05 | 0.82 | 26.68 | 19944000 | BAJAJFINSV.Oct 29 | 5884.95 | -0.44 | 13.25 | 869875 | |
| SRTRANSFIN.Oct 29 | 703.95 | 5.43 | 15.68 | 5151241 | CUMMINSIND.Oct 29 | 460 | -1.34 | 11.71 | 1659600 | |
| PETRONET.Oct 29 | 235.95 | 4.96 | 10.02 | 12291000 | COFORGE LIMITED.Oct 29 | 2494 | -0.92 | 10.04 | 460125 | |
| ASHOKLEY.Oct 29 | 79.2 | 4.76 | 8.93 | 40491000 | PVR.Oct 29 | 1165.2 | -3.1 | 8.33 | 1375660 | |
| MGL.Oct 29 | 835.9 | 1.35 | 8.9 | 1630200 | DABUR.Oct 29 | 508.8 | -1.71 | 8.15 | 11953750 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| GRASIM.Oct 29 | 793.4 | 0.23 | -15 | 15133500 | ULTRACEMCO.Oct 29 | 4616.9 | -0.57 | -3.71 | 1948200 | |
| JSWSTEEL.Oct 29 | 325.2 | 0.54 | -5.12 | 38785500 | HINDALCO.Oct 29 | 184.3 | -0.94 | -2.08 | 28362800 | |
| IOC.Oct 29 | 78.15 | 2.42 | -4.48 | 45491700 | MARICO.Oct 29 | 357.6 | -1.09 | -0.72 | 9682000 | |
| IGL.Oct 29 | 391.45 | 2.7 | -3.22 | 5296500 | NATIONALUM.Oct 29 | 30.45 | -0.98 | -0.61 | 44200000 | |
| BANKBARODA.Oct 29 | 42.9 | 0.7 | -2.32 | 43861800 | IBULHSGFIN.Oct 29 | 149.5 | -1.9 | -0.6 | 14384000 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Infosys Limited | 1129.05 | -1.68 | 11271538 | 13640245 | 68.85 | Nifty Energy | 14789.45 | 1 | 85515 | |
| Hdfc Ltd. | 2042.55 | -0.3 | 5030745 | 4846082 | 59.34 | Nifty Media | 1455.9 | 0.76 | 85515 | |
| Hindustan Unilever Ltd | 2179.35 | 0.75 | 2632959 | 2246818 | 56.82 | Nifty Metal | 2432.5 | 0.68 | 85515 | |
| Petronet Lng Limited | 235.6 | 4.85 | 10873206 | 1814583 | 54.45 | Nifty Fmcg | 29715.35 | 0.11 | 85515 | |
| Hdfc Bank Ltd. | 1233.3 | -1.07 | 10956548 | 9474491 | 53.17 | Nifty Auto | 7864.15 | -0.18 | 85515 | |
| Tata Consultancy Serv Lt | 2671.15 | -0.16 | 5262311 | 2385821 | 52.2 | Nifty 50 | 11896.45 | -0.35 | 85515 | |
| Icici Prudential Life In | 414 | 0.58 | 2477603 | 1387770 | 51.33 | Nifty Bank | 24484.15 | -0.61 | 85515 | |
| Sbi Life Insurance Compa | 780.8 | -0.58 | 1861965 | 895761 | 50.79 | Nifty it | 21413.5 | -0.76 | 85515 | |
| Tata Chemicals Ltd. | 323.95 | 0.78 | 2734398 | 825568 | 50.45 | Nifty Pharma | 11545.3 | -0.86 | 85515 | |
| United Spirits Limited | 515.2 | -1.06 | 4009024 | 1319182 | 49.93 | India Vix | 22.64 | -1.24 | 85515 | |
Get Stock Market Recommendation By Our Research Analysts
UPCOMING ECONOMIC DATA
| Domestic International | |
| •INR : Bank Loan Growth on 23rd October, 2020
•INR: Deposit Growth on 23rd October, 2020 |
•USD: Manufacturing PMI (Oct)on 23rd October, 2020 |
NEWS UPDATES
| •Asian Paints Asian Paints Ltd. saw demand rise as India eased lockdown curbs, while lower costs aided its margin in the second quarter. Net profit rose 1% year-on-year to Rs 831 crore in the quarter ended September, according to its exchange filing. That compares with the Rs 679-crore consensus forecast of analysts tracked by Bloomberg. The company has recommended an interim divided of Rs 3.35 per equity share of face value of Re 1 each. Asian Paints’ revenue increased 6% over the previous year to Rs 5,350 crore.
•Bajaj Auto Ltd.’s profit fell in the first full quarter of operations after India eased lockdown curbs as sales continue to remain under pressure. Net profit of the two-wheeler maker fell 19% year-on-year to Rs 1,138 crore in the July-September period, according to an exchange filing. That compares with the Rs 1,198-crore consensus estimate of analysts tracked by Bloomberg. Its revenue fell 7% over the year ago to Rs 7,156 crore, against an estimated Rs 7,204 crore. Operating profit, or earnings before interest, tax, depreciation and amortisation, declined 1% to Rs 1,267 crore. Operating margin, however, rose to 17.7% from 16.6% a year ago. •Granules India Ltd. remains bullish on growth prospects after its earnings improved on all parameters in the quarter ended September. The pharmaceuticals company expects this growth momentum to continue, Krishna Prasad Chigurupati, founder chairman and managing director, said in an interview with BloombergQuint. “We’ll be able to maintain earnings before interest, tax, depreciation and amortisation, though margins can vary. We expect profit after tax to grow 80% year on year in FY21.” Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint |
Open Your Demat Account to Invest in Upcoming IPO’s
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| AARTIDRUGS | Audited Results;Interim Dividend | 23-Oct-20 | NESTLEIND | Quarterly Results | 23-Oct-20 |
| APOLLOTRI | Quarterly Results | 23-Oct-20 | PAPERPROD | Quarterly Results | 23-Oct-20 |
| ASIANTILES | A.G.M.;General;Stock Split | 23-Oct-20 | PERSISTENT | Quarterly Results | 23-Oct-20 |
| ATUL | Quarterly Results | 23-Oct-20 | SUDARSCHEM | Quarterly Results | 23-Oct-20 |
| BENARAS | Quarterly Results | 23-Oct-20 | SUNGOLD | Quarterly Results | 23-Oct-20 |
| BHAGIL | Quarterly Results | 23-Oct-20 | TECHM | Interim Dividend;Quarterly Results | 23-Oct-20 |
| HEIDELBERG | Quarterly Results | 23-Oct-20 | TFL | General | 23-Oct-20 |
| ICICIGI | Quarterly Results | 23-Oct-20 | VIKASMCORP | Quarterly Results | 23-Oct-20 |
| IDBI | Quarterly Results | 23-Oct-20 | WABCOINDIA | Quarterly Results | 23-Oct-20 |
| JSWSTEEL | Quarterly Results | 23-Oct-20 | YASHCHEM | General | 23-Oct-20 |
| MOLDTEK | General;Quarterly Results | 23-Oct-20 | YESBANK | Quarterly Results | 23-Oct-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| INFY | 23-Oct-20 | Interim Dividend – Rs. – 12.00 | ASIANPAINT | 28-Oct-20 | Interim Dividend – Rs. 3.35 |
| UNISTRMU | 23-Oct-20 | E.G.M. | CCL | 28-Oct-20 | Interim Dividend – Rs. – 2.00 |
| LTTS | 26-Oct-20 | Interim Dividend – Rs. – 7.50 | CONFIPET | 28-Oct-20 | Final Dividend – Rs. – 0.0750 |
| MINDTREE | 26-Oct-20 | Interim Dividend – Rs. – 7.50 | DHINDIA | 28-Oct-20 | E.G.M. |
| PRIVISCL | 26-Oct-20 | Dividend – Rs. – 1.50 | FOSECOIND | 28-Oct-20 | Interim Dividend |
| TOWERINFRA | 26-Oct-20 | Income Distribution (InvIT) | GMM | 28-Oct-20 | Interim Dividend – Rs. – 1.00 |
| VRFILMS | 26-Oct-20 | Dividend – Rs. – 1.00 | GRANULES | 28-Oct-20 | Interim Dividend – Rs. – 0.25 |
| HINDZINC | 27-Oct-20 | Interim Dividend – Rs. – 21.30 | HINDUNILVR | 28-Oct-20 | Interim Dividend – Rs. – 14.00 |
| LTI | 27-Oct-20 | Interim Dividend – Rs. – 15.00 | KIOCL | 28-Oct-20 | Buy Back of Shares |
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