NIFTY:

The Nifty opened at 11011 with a big gap down of 120 points. Prices have seen a sharp intraday decline for the whole day. It was a trend day on the downside where high was near the open and low was near the close. Prices have started a down move from its opening tick with mild correction which sold into quickly. Around 1:00 PM, the Nifty started a sharp decline of  more than 150 points and finally closed at 10805.55 down by 326.30 points. All sectoral indices closed lower  where IT and Metal have seen a down move of more than 4%.A large impressive decline has brought the index cdown to a strong support of 10800. It is possible that the markets may find support at this level either for the long term or atleast for the short term.

Today we should look to buy the Nifty above the 15 minutes breakout with a stop of the low of the first 15 minutes.

A large decline in the Nifty has brought it down by almost 1000 points, about 9%. This is the normal correction although like most other corrections, the intensity of decline becomes rather surprising.

BANK NIFTY:

Bank Nifty opened at 20898.80 with a gap down of 349 points. The index fell further down and closed at 20456 with a loss of about 800 points. PSU and Private banks both have performed the same and closed lower by more than 3.50%. Within the index, in terms of points ICICI bank contributed highest on the downside followed by HDFC Bank.

It was a trend down day where prices after opening with a big gap down has fallen further during the day. A strong support of 21000 broke easily on the downside.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
JUBLFOOD 2261.60 SELL The stock has given a breakdown from a range. The stock can be sold below 2259 with a stop at 2285 and for the target of 2220.
GODREJCP 690 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 680 for the target of 710

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
ZEEL 195 CE BUY 14.75 CMP 12 19 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
COLPAL.Sep 24 1369.35 0.88 37.86 802900 TECHM.Sep 24 752.15 -5.39 55.07 3710400
ZEEL.Sep 24 193.4 1.15 23.42 10008000 LUPIN.Sep 24 977 -4.18 53.81 4183700
GODREJCP.Sep 24 690 1.44 19.98 1105000 SBILIFE.Sep 24 792.75 -4.87 53.17 3243000
BERGEPAINT.Sep 24 574.15 0.8 17.06 883300 HDFC.Sep 24 1624.05 -2.8 48.14 7947300
IDEA.Sep 24 9.2 0.55 16.49 244300000 MOTHERSUMI.Sep 24 102.8 -6.03 44.65 10318000
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
APOLLOHOSP.Sep 24 1950.95 7.01 -37.37 264000 TATAPOWER.Sep 24 50.3 -5.81 -57.32 8140500
CHOLAFIN.Sep 24 230.5 0.33 -33.5 1627500 TORNTPOWER.Sep 24 304.45 -5.44 -55.87 237000
ICICIPRULI.Sep 24 409 0.02 -5.57 1296000 JUBLFOOD.Sep 24 2278.7 -1.89 -53.37 232000
INFRATEL.Sep 24 170.8 2.46 -5.2 3824800 BANKBARODA.Sep 24 39.65 -4.8 -46.58 7806400
RAMCOCEM.Sep 24 691.15 -4.61 -46.08 239700

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Vedanta Limited 131.75 1.35 30204421 10493694 69.42 India Vix 23.51 12.01 84594
Itc Ltd. 166.55 -3.45 31486886 40264869 65.17 Nifty Fmcg 29044.95 -0.95 84594
Tata Consumer Products l 488.65 -0.99 9647490 2566882 59.91 Nifty Energy 14548.45 -2.73 84594
Container Corp Of India 371.1 -1.59 2226169 1535949 59.82 Nifty 50 10805.55 -2.93 84594
Hdfc Life Insurance Comp 577.65 -0.45 3044327 1291526 58.42 Nifty Pharma 11334.6 -3.01 84594
Petronet Lng Limited 210.7 -2.25 3296031 3929651 56.95 Nifty Media 1435.45 -3.11 84594
Hindustan Unilever Ltd 2060.9 0.41 3798394 1360232 56.43 Nifty Bank 20456.85 -3.41 84594
Max Financial Services l 579.8 -1.44 1213281 872372 54.5 Nifty Auto 7418.85 -3.54 84594
Cummins India Limited 441.55 -2.7 2377316 510625 54.29 Nifty it 18973.05 -4.2 84594
Hdfc Ltd. 1636.85 -1.81 5673754 2480737 51.64 Nifty Metal 2111.85 -4.24 84594

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR: Bank Loan Growth on 25th  September, 2020

•INR: FX Reserves, USD  on 25th September, 2020

•USD: Core Durable Goods Orders (MoM) (Aug)on  25th September, 2020

•USD: Durable Goods Orders (MoM) (Aug) on 25th September, 2020

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NEWS UPDATES

•GAIL (India) Ltd has cut supplies by about 40% to customers, mainly power and fertiliser companies, after a pipeline rupture led to a fire in an Oil and Natural Gas Corp plant, a company source said. GAIL supplies about 60 million standard cubic meters of gas through its northwestern pipeline grid to customers in the states of Gujarat, Uttar Pradesh, Madhya Pradesh, Rajasthan and Goa.

•Domestic rating agency India Ratings and Research on Thursday said it has maintained a negative outlook on non-banking financial companies (NBFCs) and housing finance companies (HFCs) for the second half of 2020-21. It said growth in assets under management would be flattish for NBFCs as against its earlier estimate of 8-10 per cent y-o-y, and in lower single digits for HFCs in 2020-21.

•The country’s largest carmaker Maruti Suzuki India Ltd. on Thursday said it has launched its vehicle subscription program, Maruti Suzuki Subscribe, for individuals in Delhi, NCR region (Noida, Ghaziabad, Faridabad, Gurugram) and Bengaluru. The company plans to roll out this program in up to 60 cities in the next two to three years.

•Reliance Jio has started offering mobile services on 22 flights on international routes, with plans starting at ₹499 per day. The company’s partner airlines include Cathay Pacific, Singapore Airlines, Emirates, Etihad Airways, Euro Wings, Lufthansa, Malindo Air, Biman Bangladesh Airlines, and Alitalia.

Source: Economic Times,  Moneycontrol  ,Business Today, Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
CANBK General 25-Sep-20 WELLNESS General 25-Sep-20
CEATLTD General 25-Sep-20 COMPEAU General 26-Sep-20
CHANDRIMA A.G.M.;General 25-Sep-20 EMERALD Increase in Authorised Capital;General 26-Sep-20
INDRANIB General 25-Sep-20 INCAP General 26-Sep-20
ISWL Quarterly Results 25-Sep-20 SPANDANA General 26-Sep-20
KDML General 25-Sep-20 A2ZINFRA Quarterly Results 28-Sep-20
MTEDUCARE Audited Results;Quarterly Results 25-Sep-20 DIAMONDYD In.in Authorised Cap.;Amalgamation 28-Sep-20
PASUSPG Audited Results 25-Sep-20 FRANKLININD General 28-Sep-20
SANGHVIFOR Quarterly Results 25-Sep-20 FUTURAPOLY Audited Results;Quarterly Results 28-Sep-20
SUDTIND-B Quarterly Results 25-Sep-20 GDL Interim Dividend;General 28-Sep-20
THOMASCOOK Buy Back of Shares;General 25-Sep-20 GGL General 28-Sep-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
DHANUKA 25-Sep-20 Buy Back of Shares GAEL 01-Oct-20 Stock  Split From Rs.2/- to Rs.1/-
SUVENPHAR 25-Sep-20 Bonus issue 1:1 GDL 07-Oct-20 Interim Dividend
LAURUSLABS 29-Sep-20 Stock  Split From Rs.10/- to Rs.2/- POWERMECH 12-Oct-20 Final Dividend – Rs. – 1.00
RITES 29-Sep-20 Buy Back of Shares ELIXIR 15-Oct-20 Final Dividend – Rs. – 1.25
AARTIDRUGS 30-Sep-20 Bonus issue 3:1 HIMTEK 16-Oct-20 Dividend – Rs. – 0.20
CPL 30-Sep-20 Dividend – Rs. – 0.04 JBMA 21-Oct-20 Final Dividend – Rs. – 1.75
MAGNAELQ 30-Sep-20 Buy Back of Shares VLSFINANCE 22-Oct-20 Dividend – Rs. – 1.50

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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