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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