NIFTY:
The Nifty opened without much of a gap at 11937.40. Prices have moved down almost 50 points in the first 5 minutes of trading. The index then traded very narrowly for the next 2 hours. Around 11:00 AM to 2:00 PM, prices have seen a sharp down move of almost 200 points. Prices then spend the rest of the day trading choppy and narrow. The Nifty finally closed at 11767.75 down by 162.60 points. All the sectoral indices have closed with a loss. The Auto and Metal sector have led the decline and closed lower by more than 3%.
Yesterday morning we had suggested going short below 11820 with a target of 11730. The Nifty obliged us by falling below 11820 during the day, enabling us to go short at the same price. The decline continued and met its target of 11730 giving us a gain of 90 points.
The Nifty has broken down from a significant support levels and is probably heading towards the lower Prices. The decline may not come immediately and may actually be fairly choppy.
BANK NIFTY:
Bank Nifty opened at 24525.80 with a gap up of 51 points. The index first moved down and then traded sideways and narrow. Prices have seen a sharp intraday decline and then spend the day moving range bound. The index finally closed at 24075 with a loss of about 500 points.
Private and PSU Banks both have performed same and closed lower by 1%. Within the index, in terms of points, Kotak Bank contributed highest while ICICI Bank contributed lowest. We have expected a sharp move in this week. A sharp intraday decline of more than 500 points forced the index to close below 24200.
We had a narrow trading range with support at 24200 and resistance at 24800. We have seen a breakdown and the target for this is 23600.
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TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| HDFCLIFE | 578.65 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 568 and for the target 590-600 |
| CONCOR | 384.75 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 379 and for the target of 394. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| TATACONSUMER | 370 CE | BUY | 10.65 | CMP | 8 | 16 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| KOTAKBANK.Oct 29 | 1409.6 | 1.6 | 21.91 | 9494000 | COFORGE LIMITED.Oct 29 | 2202 | -7.48 | 103.54 | 884625 | |
| HDFC.Oct 29 | 2072.8 | 0.64 | 19.81 | 24943200 | VOLTAS.Oct 29 | 690.2 | -2.4 | 33.27 | 2628000 | |
| POWERGRID.Oct 29 | 171.95 | 1.12 | 19.57 | 18112000 | ACC.Oct 29 | 1578 | -1.69 | 29.96 | 2494000 | |
| LT.Oct 29 | 952.1 | 1.14 | 15.52 | 14614600 | SIEMENS.Oct 29 | 1276.8 | -0.47 | 28.26 | 1727550 | |
| INDUSINDBK.Oct 29 | 617.5 | 1.32 | 14.33 | 14294400 | TORNTPHARM.Oct 29 | 2652.15 | -3.13 | 26.35 | 1098000 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| VEDL.Oct 29 | 105.2 | 0.48 | -10.15 | 50356400 | GODREJPROP.Oct 29 | 1021 | -2.4 | -12.94 | 761150 | |
| BHEL.Oct 29 | 29.55 | 1.55 | -5 | 56238000 | JSWSTEEL.Oct 29 | 307.15 | -4.54 | -6.65 | 22985100 | |
| CANBK.Oct 29 | 88.3 | 0.06 | -1.87 | 13150000 | APOLLOTYRE.Oct 29 | 146.9 | -2 | -6.41 | 9205000 | |
| HDFCLIFE.Oct 29 | 582.05 | 2.92 | -1.61 | 10659000 | IDEA.Oct 29 | 9 | -1.1 | -4.94 | 140140000 | |
| NATIONALUM.Oct 29 | 31.15 | 1.47 | -0.67 | 42738000 | ESCORTS.Oct 29 | 1180.5 | -0.64 | -4.36 | 2773100 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Hindustan Unilever Ltd | 2166.75 | 1.07 | 1646050 | 1878338 | 66.95 | Nifty Fmcg | 29774.65 | -0.03 | 79488 | |
| Icici Prudential Life In | 404.7 | -0.98 | 1352606 | 1435457 | 61.5 | Nifty it | 21265.7 | -1.2 | 79488 | |
| Hdfc Life Insurance Comp | 578.65 | 2.51 | 8486269 | 12708383 | 59.24 | Nifty 50 | 11767.75 | -1.36 | 79488 | |
| Hdfc Ltd. | 2073.35 | 0.66 | 4927520 | 2027860 | 56.74 | Nifty Pharma | 11334.2 | -1.47 | 79488 | |
| Tata Consultancy Serv Lt | 2688.2 | 0.05 | 2672766 | 1911506 | 54.62 | Nifty Bank | 24075.45 | -1.65 | 79488 | |
| Infosys Limited | 1112.45 | -0.9 | 6309643 | 4907723 | 54.11 | Nifty Realty | 230.65 | -1.89 | 79488 | |
| Marico Limited | 349.85 | -2.44 | 4430448 | 1445174 | 52.5 | Nifty Energy | 14613.45 | -1.93 | 79488 | |
| Sbi Life Insurance Compa | 778.85 | 1.06 | 2638356 | 1169570 | 51.92 | Nifty Media | 1425.75 | -2.74 | 79488 | |
| Upl Limited | 433.4 | -3.89 | 6280314 | 1828485 | 49.66 | Nifty Auto | 7833.65 | -3.22 | 79488 | |
| Mahanagar Gas Limited | 819.95 | -0.15 | 978162 | 327006 | 49.1 | Nifty Metal | 2357.55 | -3.5 | 79488 | |
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UPCOMING ECONOMIC DATA
| Domestic International | |
| •INR : Federal Fiscal Deficit (Sep)on 30th October, 2020
•INR: Infrastructure Output (YoY) (Sep) on 30th October, 2020 |
•USD: Core Durable Goods Orders (MoM) (Sep) on 27th October, 2020
•USD: Crude Oil Inventories on 28th October, 2020 |
NEWS UPDATES
| •Kotak Mahindra Bank Ltd reported a 27% increase in net profit in the second quarter of the current financial year, on lower provisions and higher core income. For the July-September period, the bank reported a net profit of Rs 2,184 crore as against a net profit of Rs 1,724 crore a year ago. In the April-June quarter the bank had reported a net profit of Rs 1,244 crore. Net interest income, or core income, rose 16.8% year-on-year to Rs 3,913 crore. Asset Quality Stable The bank’s gross non-performing asset ratio fell to 2.55% as on September 30, as compared with 2.7% in the preceding quarter. It’s net NPA ratio fell to 0.64%, down 23 basis points as compared with June 30.
•SBI Life Insurance Co Ltd (SBI Life) on Monday reported over two-fold jump in net profit at Rs 299.73 crore for the second quarter ended September of the current fiscal year. The life insurer had posted a net profit of Rs 129.84 crore in the same quarter a year ago. Total income rose 45 per cent to Rs 18,458.25 crore during July-September period of 2020-21 from Rs 12,745.38 crore in the corresponding quarter of 2019-20, SBI Life said in a regulatory filing. Net premium income increased 22 per cent to Rs 12,857.95 crore during the quarter under review from Rs 10,111.51 crore a year ago. •Telecom operator Bharti Airtel on Monday entered the rapidly-growing cloud communications market with the launch of business-centric Airtel IQ’. A cloud-based omni-channel communications platform, Airtel IQ, aims to enable brands to deepen engagement with customers through timely and secure communication. Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint |
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BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| 63MOONS | Quarterly Results | 27-Oct-20 | KRITINUT | Quarterly Results | 27-Oct-20 |
| AMARAJABAT | Quarterly Results | 27-Oct-20 | NETWORK18 | Quarterly Results | 27-Oct-20 |
| ARTSONEN | General | 27-Oct-20 | ORIENTBELL | Quarterly Results | 27-Oct-20 |
| BHARTIARTL | Quarterly Results | 27-Oct-20 | PAUSHAKLTD | Quarterly Results | 27-Oct-20 |
| CASTROLIND | Quarterly Results | 27-Oct-20 | RISHDIGA | General | 27-Oct-20 |
| CEATLTD | Quarterly Results | 27-Oct-20 | SANOFI | Quarterly Results | 27-Oct-20 |
| GUJARATPOLY | Quarterly Results | 27-Oct-20 | SKFINDIA | Quarterly Results | 27-Oct-20 |
| ICICIPRULI | Quarterly Results | 27-Oct-20 | SPANDANA | General | 27-Oct-20 |
| JK AGRI | Quarterly Results | 27-Oct-20 | SUVEN | Quarterly Results | 27-Oct-20 |
| JMFINANCIL | Quarterly Results | 27-Oct-20 | TATAMOTORS | Quarterly Results | 27-Oct-20 |
| KPRMILL | Quarterly Results | 27-Oct-20 | TV18BRDCST | Quarterly Results | 27-Oct-20 |
| KRITIIND | Quarterly Results | 27-Oct-20 | VSTIND | Quarterly Results | 27-Oct-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| 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 |
| ASIANPAINT | 28-Oct-20 | Interim Dividend – Rs. – 3.3500 | SASKEN | 28-Oct-20 | Interim Dividend – Rs. – 10.00 |
| CCL | 28-Oct-20 | Interim Dividend – Rs. – 2.00 | VEDL | 28-Oct-20 | Interim Dividend |
| CONFIPET | 28-Oct-20 | Final Dividend – Rs. – 0.0750 | COLPAL | 29-Oct-20 | Interim Dividend – Rs. – 18.00 |
| DHINDIA | 28-Oct-20 | E.G.M. | NESTLEIND | 29-Oct-20 | Interim Dividend – Rs. – 135.00 |
| FOSECOIND | 28-Oct-20 | Interim Dividend – Rs. – 5.00 | OCTAWARE | 29-Oct-20 | E.G.M. |
| GMM | 28-Oct-20 | Interim Dividend – Rs. – 1.00 | TECHM | 29-Oct-20 | Special Dividend – Rs. – 15.00 |
| GRANULES | 28-Oct-20 | Interim Dividend – Rs. – 0.2500 | ANGELBRKG | 02-Nov-20 | Interim Dividend |
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
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