2020-09-24-OUTLOOKNIFTY:

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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