NIFTY:

The Nifty opened at 11807.10 with a gap up of 40 points. Initial prices moved down, filled the gap up and then moved down another 30 to 40 points in the first 15 minutes of trading. Prices then began moving up and continued to do so for the whole day. Nifty saw an intraday rally of more than 170 points. The index closed almost at its intraday high at 11889.40 up by 121.65 points. Banks and Financials have led the rally while IT and Realty underperformed.

The Nifty staged a handsome rally. The index reached almost 11900 and closed at the top of the day’s range. With all said and done, we continue to remain in a large trading range. The range is approximately between 11600 and 12050. It is possible that we will get new signals even while the markets are in a range, until we do we should wait patiently.

BANK NIFTY:

Bank Nifty opened at 24288.05 with a gap up of 287 points. The index first moved down and made its intraday low at 23924.20. After that prices have moved up and closed near its day high at 24776.60 with a gain of 775 points.

Private banks and PSU banks both have performed well. Within the index, in terms of points, Kotak Bank contributed highest while SBI contributed lowest. We had a short position in the index taken around 24200 with a stop at 24300. Prices have hit the stop loss, so our short position closed with a minor loss of 100 points. Yesterday we had mentioned a support around 24000. The index held this level and saw a sharp intraday rally of more than 800 points. Trading range extended in the index with support at 24000 and resistance at 24800.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
ZEEL 187.65 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 183 and for the target 196.
CIPLA 770.25 BUY The stock has given a breakout from a narrow trading range. The stock can be bought  at CMP with a stop at 760 and for the target of 785.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
TCS 2620 CE BUY 31.50 CMP 23 48 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ICICIPRULI.Oct 29 414.95 2.23 47.02 9844500 TATAPOWER.Oct 29 53.8 -0.28 45 82782000
INFRATEL.Oct 29 189.25 0.32 44.6 13389600 HCLTECH.Oct 29 847 -0.08 26.96 10668000
KOTAKBANK.Oct 29 1576 11.43 42.47 8246000 ADANIPORTS.Oct 29 362.95 -0.33 20.07 10932500
BOSCHLTD.Oct 29 11880 0.2 39.02 142150 ITC.Oct 29 166.95 -1.1 17.27 115612800
MRF.Oct 29 67600 6.86 33.29 33870 M&M.Oct 29 595.15 -0.31 16.87 10792600
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
COFORGE LIMITED.Oct 29 2225 0.27 -23.18 523125 PNB.Oct 29 27.6 -1.95 -43 29246000
BHEL.Oct 29 29.7 0.17 -21.58 40446000 GRASIM.Oct 29 776.95 -0.39 -33.03 5102450
AMARAJABAT.Oct 29 784.7 3.29 -20.82 768000 TORNTPOWER.Oct 29 315.15 -0.43 -30.68 1098000
GLENMARK.Oct 29 484.5 1.46 -19.05 3489100 CANBK.Oct 29 88.45 -1.17 -26.98 7525000
JSWSTEEL.Oct 29 308.45 0.08 -18.28 14072400 GODREJPROP.Oct 29 1019.7 -0.42 -17.64 540150

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hdfc Ltd. 2041.35 -1.54 4468948 2856064 57.96 Nifty Bank 24769.5 2.88 77655
Coforge Limited 2228.7 0.75 1004134 3396764 54.92 Nifty Pharma 11511.5 1.56 77655
Power Grid Corporation o 173.5 0.84 13280939 11247458 54.39 Nifty Media 1445.65 1.4 77655
Britannia Ind Ltd. 3572.25 2.49 1753963 463379 51.85 Nifty Fmcg 30163.7 1.31 77655
Tata Chemicals Ltd. 323.15 0.94 2062617 843262 51.61 Nifty Auto 7930.65 1.24 77655
Hdfc Life Insurance Comp 587.3 1.49 5959808 4287723 50.53 Nifty 50 11889.4 1.03 77655
Vedanta Limited 102.5 -1.3 33623806 22500414 48.11 Nifty Energy 14752.25 0.95 77655
National Alum Co Ltd 30.3 -1.46 6916361 3813247 47.14 Nifty Metal 2359.6 0.09 77655
Infosys Limited 1090.85 -1.94 10172530 2868270 45.46 Nifty Realty 229 -0.72 77655
Hindustan Unilever Ltd 2176.7 0.46 2334908 743774 45.19 Nifty it 21023.4 -1.14 77655

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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 : Crude Oil Inventories on 28th October, 2020

•USD: GDP (QoQ) (Q3) on 29th October, 2020

NEWS UPDATES

•Bharti Airtel Ltd reported its highest ever consolidated quarterly consolidated revenue on Tuesday, driven by higher tariffs and a rise in data usage from a coronavirus-fuelled shift to remote working. Company’s quarterly consolidated revenue rise 22% to ₹25,785 crore as against ₹21,131 crore a year ago. Average revenue per user at India’s second largest telecom operator rose to ₹162 for the quarter, from ₹128 a year earlier.

•Tata Motors, the country’s largest commercial vehicle maker and owner of luxury car brand Jaguar Land Rover, posted a consolidated loss of Rs 314.5 crore in the quarter ended September 30 but the figure was better than CNBC-TV18 poll estimate of Rs 1,290 crore loss. The company had reported a loss of Rs 216.56 crore in the September quarter of 2019. The company’s consolidated revenue fell 18.2 percent year-on-year to Rs 53,530 crore in Q2FY21 due to decline in commercial vehicle and JLR volumes.

•Hero MotoCorp will sell and service Harley Davidson motorcycles in India.Hero MotoCorp will also sell Parts & Accessories and General Merchandise riding gear and apparel through a network of brand-exclusive Harley-Davidson dealers and Hero’s existing dealership network in the country.

•Cadila Healthcare Ltd is in talks with potential partners to ramp up production capacity if its candidate passes human clinical trials. The Ahmedabad-based firm is looking to hire contract manufacturers for an additional 50 million to 70 million doses of its plasmid DNA vaccine, on top of the 100 million that will come from its own capacity.

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
APLAPOLLO Stock  Split;Quarterly Results 28-Oct-20 NAVINFLUOR Interim Dividend;Quarterly Results 28-Oct-20
AUBANK Quarterly Results 28-Oct-20 PEL Quarterly Results 28-Oct-20
AXISBANK Quarterly Results 28-Oct-20 PNBHOUSING Quarterly Results 28-Oct-20
BALAMINES ESOP;Quarterly Results 28-Oct-20 RADICO Quarterly Results 28-Oct-20
BLUESTARCO Quarterly Results 28-Oct-20 RBLBANK Quarterly Results 28-Oct-20
CANFINHOME Quarterly Results;General 28-Oct-20 ROUTE Quarterly Results 28-Oct-20
CGPOWER Quarterly Results 28-Oct-20 SNOWMAN Quarterly Results 28-Oct-20
CUMMINSIND Quarterly Results 28-Oct-20 SUPREMEIND Interim Dividend;Quarterly Results 28-Oct-20
DRREDDY Quarterly Results 28-Oct-20 TATACOFFEE Quarterly Results 28-Oct-20
HERITGFOOD Quarterly Results 28-Oct-20 THYROCARE Interim Dividend;Quarterly Results 28-Oct-20
HEROMOTOCO Quarterly Results 28-Oct-20 TITAN Quarterly Results 28-Oct-20
ISEC Interim Dividend;Quarterly Results 28-Oct-20 UTIAMC A.G.M.;Final Dividend;Results 28-Oct-20
LT Special Dividend;Quarterly Results 28-Oct-20 UTTAMSUGAR Quarterly Results 28-Oct-20
MARICO Interim Dividend;Quarterly Results 28-Oct-20 VGUARD Quarterly Results 28-Oct-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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 – Rs. – 9.50
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 – Rs. – 4.1500
HINDUNILVR 28-Oct-20 Interim Dividend – Rs. – 14.00 CRISIL 02-Nov-20 Interim Dividend – Rs. – 7.00
KIOCL 28-Oct-20 Buy Back of Shares ESTER 02-Nov-20 Interim 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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