NIFTY:
The Nifty opened with a gap up of more than 100 points at 11258.75. Prices have seen a sharp intraday fall of more than 200 points from its opening price and recorded its intraday low at 11024.40. Around 2:00 PM, prices started some recovery which lasted towards the end of the day’s trading session. The index finally closed at 11131.85 with a loss of 21.80 points. The Media and Pharma sectors have seen a sharp fall and closed lower by 2.37% and 1.61% respectively. After taking a short position and closing it profitably, two days ago, we have been on the side lines as the market becomes volatile moving almost in a random fashion. The Nifty made a low of 11024 before recovering almost 100 points to close at 11131. The recovery, as well as the fact that the Nifty managed to go above 11100, suggests that there may be a short term uptrend in the offing.
Today, we can look to buy Nifty above 11150 with a target of 11225 and a stop loss at 11100.It is also the monthly expiry, therefore we can expect more volatility.
BANK NIFTY:
Bank Nifty opened at 21350.80 with a gap up of 162 points. The index started a down move from its opening price, filled its gap up opening and then fell further below 21000 supports. Prices have seen some recovery in the last hour of trading and finally closed with a gain of about 40 points. PSU bank have underperformed and closed lower. Private banks have performed well and closed with gains. Within the index, in terms of points HDFC Bank contributed highest while Indusind Bank the lowest. It was a volatile day in the index where prices have seen a sharp fall and then recovered almost all and closed with minor gains.
Prices are holding its support around 21000 and closed higher. Traders can look to buy above 21400 and sell below 20800.
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TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| TATA CONSUMER | 493.55 | SELL | The stock has given a breakdown from a range. The stock can be sold between 495-496 with a stop at 502 and for the target of 480. |
| APOLLOHOSPITAL | 1817.80 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1790 for the target of 1860-1880. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| BPCL | 390 PE | BUY | 2.15 | CMP | 1 | 5 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| BIOCON.Sep 24 | 424.7 | 0.33 | 37.72 | 8447900 | MARICO.Sep 24 | 339.45 | -1.95 | 48.09 | 7742000 | |
| AMBUJACEM.Sep 24 | 210.45 | 1.79 | 36.95 | 10041000 | ICICIBANK.Sep 24 | 354.2 | -0.11 | 47.22 | 55418000 | |
| SBILIFE.Sep 24 | 836.3 | 0.64 | 33.01 | 5179500 | PIDILITIND.Sep 24 | 1421.65 | -0.36 | 40.74 | 2717000 | |
| ULTRACEMCO.Sep 24 | 3878.2 | 0.09 | 31.47 | 1339400 | HDFC.Sep 24 | 1672.6 | -0.4 | 37.89 | 15943200 | |
| TATAPOWER.Sep 24 | 53.95 | 4.76 | 29.72 | 53743500 | ACC.Sep 24 | 1355.95 | -0.28 | 31.94 | 991500 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| AMARAJABAT.Sep 24 | 723.8 | 1.84 | -28.54 | 368000 | TORNTPOWER.Sep 24 | 321.45 | -0.92 | -27.63 | 660000 | |
| RBLBANK.Sep 24 | 167.8 | 0.69 | -24.99 | 7079800 | UBL.Sep 24 | 958.05 | -0.8 | -23.25 | 674800 | |
| BOSCHLTD.Sep 24 | 12677.95 | 2.02 | -23.02 | 32600 | HCLTECH.Sep 24 | 817.85 | -0.56 | -22.4 | 2794400 | |
| RAMCOCEM.Sep 24 | 724 | 2.26 | -19.58 | 492150 | GMRINFRA.Sep 24 | 21.5 | -1.38 | -20.48 | 31275000 | |
| M&MFIN.Sep 24 | 120.2 | 1.65 | -19.5 | 7435596 | MANAPPURAM.Sep 24 | 146.25 | -0.65 | -19.8 | 5664000 | |
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TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Hindustan Unilever Ltd | 2052.55 | 1.27 | 2410305 | 1296402 | 55.27 | Nifty Realty | 211.65 | 0.79 | 85248 | |
| Max Financial Services l | 588.3 | -1.11 | 1600811 | 2817728 | 51.98 | Nifty Bank | 21178.5 | 0.19 | 85248 | |
| Vedanta Limited | 130 | 2.24 | 15115222 | 5316570 | 49.92 | Nifty Fmcg | 29322.35 | 0.03 | 85248 | |
| Hdfc Ltd. | 1667.1 | -0.46 | 4803637 | 1683578 | 46.56 | Nifty Auto | 7690.9 | -0.06 | 85248 | |
| Hindustan Petroleum Corp | 177.35 | -1.69 | 8713464 | 4965997 | 46.07 | Nifty 50 | 11131.85 | -0.2 | 85248 | |
| Petronet Lng Limited | 215.55 | -2.04 | 6899876 | 1276722 | 46.04 | Nifty it | 19805.65 | -0.3 | 85248 | |
| Nestleind | 15366.05 | 1.1 | 131430 | 46326 | 43.25 | Nifty Metal | 2205.25 | -0.39 | 85248 | |
| Tata Consumer Products l | 493.55 | -2.15 | 4284384 | 2198560 | 42.99 | Nifty Energy | 14956.6 | -0.72 | 85248 | |
| Colgate Palmolive (india | 1354 | 0.92 | 374428 | 233376 | 42.84 | Nifty Pharma | 11685.9 | -1.61 | 85248 | |
| Icici Prudential Life In | 408.7 | 1.35 | 1264534 | 573952 | 40.59 | India Vix | 20.99 | -1.96 | 85248 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| •INR: Bank Loan Growth on 25th September, 2020
•INR: FX Reserves, USD on 25th September, 2020 |
•USD: New Home Sales (Aug) on 24th September, 2020
•USD: Initial Jobless Claims on 24th September, 2020 |
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NEWS UPDATES
|
•Bharti Airtel has picked up a strategic stake in cloud analytics startup startup Waybeo under the Airtel Startup Accelerator Programme. Thiruvananthapuram-headquartered Waybeo, focused on deep Artificial Intelligence-based analytics for Cloud telephony, is the fifth startup to join the fast-growing Airtel Startup Accelerator Program. •Hexaware Technologies will offer Rs 475 per share as the final price for its delisting offer. The offer was successful and 8.72 crore equity shares had been validly tendered. The bid process for the delisting offer where the promoters were offering a floor price of Rs 264.97 per share had started on September 9 and closed on September 16. •The Commission for Agricultural Costs and Prices (CACP), the Indian government’s advisor on minimum support price for major farm products, has for the first time recommended a cash fertiliser subsidy to farmers to the tune of Rs 5,000 per year. The panel has suggested that this should be done in two tranches of Rs 2,500 each — in the kharif and rabi seasons. If the government accepts this recommendation, the ongoing practice of transferring subsidy to fertiliser producing companies will be discontinued. •UTI Asset Management Company will launch its initial public offering for subscription on September 29. The company plans to raise Rs 3,000 core via the issue, sources pivy to the matter told Moneycontrol. The public issue will consist of an entire offer for sale of 3,89,87,081 equity shares by State Bank of India, Life Insurance Corporation of India (LIC), Punjab National Bank, Bank of Baroda and T Rowe Price International. Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| KPRMILL | General | 24-Sep-20 | PASUSPG | Audited Results | 25-Sep-20 |
| LEHIL | General | 24-Sep-20 | SANGHVIFOR | Quarterly Results | 25-Sep-20 |
| MIDEASTP | General | 24-Sep-20 | SUDTIND-B | Quarterly Results | 25-Sep-20 |
| RUBFILA | Preferential Issue of shares | 24-Sep-20 | WELLNESS | General | 25-Sep-20 |
| CANBK | General | 25-Sep-20 | INCAP | General | 26-Sep-20 |
| CHANDRIMA | A.G.M.;General | 25-Sep-20 | FUTURAPOLY | Audited Results;Quarterly Results | 28-Sep-20 |
| INDRANIB | General | 25-Sep-20 | GGL | General | 28-Sep-20 |
| ISWL | Quarterly Results | 25-Sep-20 | KOHINOOR | Quarterly Results | 28-Sep-20 |
| KDML | General | 25-Sep-20 | PALMJEWELS | General | 28-Sep-20 |
| KUMAKAIND | Bonus issue | 25-Sep-20 | BETALA | A.G.M.;General | 29-Sep-20 |
| MTEDUCARE | Audited Results;Quarterly Results | 25-Sep-20 | DDIL | A.G.M.;General | 29-Sep-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| AJMERA | 24-Sep-20 | Final Dividend – Rs. – 1.40 | LAURUSLABS | 29-Sep-20 | Stock Split From Rs.10/- to Rs.2/- |
| DHARAMSI | 24-Sep-20 | Interim Dividend – Rs. – 0.50 | RITES | 29-Sep-20 | Buy Back of Shares |
| ELGIEQUIP | 24-Sep-20 | Bonus issue 1:1 | AARTIDRUGS | 30-Sep-20 | Bonus issue 3:1 |
| KEYFINSER | 24-Sep-20 | Final Dividend – Rs. – 1.00 | CPL | 30-Sep-20 | Dividend – Rs. – 0.0400 |
| MANORG | 24-Sep-20 | Final Dividend – Rs. – 1.00 | MAGNAELQ | 30-Sep-20 | Buy Back of Shares |
| VAKRANGEE | 24-Sep-20 | Final Dividend – Rs. – 0.2500 | GAEL | 1-Oct-20 | Stock Split From Rs.2/- to Rs.1/- |
| DHANUKA | 25-Sep-20 | Buy Back of Shares | POWERMECH | 12-Oct-20 | Final Dividend – Rs. – 1.00 |
| SUVENPHAR | 25-Sep-20 | Bonus issue 1:1 | HIMTEK | 16-Oct-20 | Dividend – Rs. – 0.20 |
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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