NIFTY:
The Nifty opened with a gap up of 33 points at 11922.60. Prices initially moved up and made its intraday high at 11929.40. After that the index started drifting downwards and fell almost 240 points intraday and recorded its intraday low at 11684.85. Prices have traded very narrow in the last hour of trading and finally closed at 11729.60 down by 159.80 points. All the sectoral indices have contributed to the decline and closed with losses. Banks and Financials have led the bears.
The Nifty continued its decline after a big rally yesterday. The market is now moving inside a large trading range with support at 11600 and resistance at 12000. The overall texture of the market is bearish and traders should try to be on the short side of the market. But since we are in a trading range, markets may move both ways, traders should try and stick to intraday trades.
Nifty is very close to its support of 11700, if this support breaks, we may see a downmove to 11550.
BANK NIFTY:
Bank Nifty opened at 24737.85 with a gap down of 39 points. The index initially moved up and made its intraday high at 24780.70. After that prices have seen a sharp decline of more than 700 points and finally closed at 24232 with a loss of more than 500 points.
Private and PSU banks both have performed same and closed lower by 2.19% and 1.57% respectively. Within the index, in terms of points, ICICI Bank contributed lowest followed by HDFC Bank. It was a trend day on the downside where prices opened near its intraday highs and closed near its intraday lows. A trading range of 24000-24800 remained intact. A move beyond this may decide the next direction.
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TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| MFSL | 585.05 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 574 and for the target 605-610. |
| M&M FIN | 121.35 | SELL | The stock has given a breakdown from a narrow trading range. The stock can be sold between 122.5 – 123. with a stop at 127and for the target of 114. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| MARUTI | 7100 CE | BUY | 334 | CMP | 295 | 400 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| MARICO.Oct 29 | 364.4 | 2.03 | 60.12 | 12774000 | INDUSINDBK.Oct 29 | 594 | -3.16 | 65.22 | 11900800 | |
| MARUTI.Oct 29 | 7173 | 0.17 | 30.54 | 1114300 | CONCOR.Oct 29 | 387.65 | -2.62 | 50.4 | 5905014 | |
| M&M.Oct 29 | 603.75 | 1.21 | 29.04 | 8591800 | NESTLEIND.Oct 29 | 16811.45 | -1.57 | 47.12 | 342200 | |
| HINDUNILVR.Oct 29 | 2163 | 0.1 | 26.53 | 2754300 | BAJAJ-AUTO.Oct 29 | 2924.1 | -0.66 | 45.34 | 1138000 | |
| PIDILITIND.Oct 29 | 1525 | 0.09 | 22.78 | 1902500 | AXISBANK.Oct 29 | 505.6 | -0.41 | 44.93 | 21922800 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| BAJAJFINSV.Oct 29 | 5680.1 | 0.06 | -13.59 | 338500 | PNB.Oct 29 | 27.05 | -1.28 | -40.2 | 11998000 | |
| WIPRO.Oct 29 | 334.85 | 0.03 | -12.33 | 14950400 | IDFCFIRSTB.Oct 29 | 30.8 | -1.28 | -38.91 | 22458000 | |
| VOLTAS.Oct 29 | 702.85 | 0.12 | -9.55 | 985000 | AMARAJABAT.Oct 29 | 742.45 | -5.86 | -37.97 | 428000 | |
| MFSL.Oct 29 | 581.45 | 0.54 | -7.39 | 1205100 | CANBK.Oct 29 | 87.6 | -0.57 | -37.48 | 3870000 | |
| BHARTIARTL.Oct 29 | 447.9 | 3.19 | -5.67 | 50841417 | RAMCOCEM.Oct 29 | 771.15 | -1.13 | -34.07 | 583950 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Itc Ltd. | 165.5 | -1.02 | 16820839 | 35538429 | 77.45 | India Vix | 23.28 | 4.86 | 78972 | |
| Hindustan Unilever Ltd | 2164.35 | -0.57 | 1555484 | 1438006 | 61.59 | Nifty Auto | 7922.75 | -0.1 | 78972 | |
| Hdfc Ltd. | 1968.9 | -3.55 | 4636738 | 2728844 | 61.06 | Nifty Energy | 14688.35 | -0.43 | 78972 | |
| Vedanta Limited | 95.4 | -6.93 | 50491819 | 20307705 | 60.4 | Nifty Fmcg | 29948.1 | -0.71 | 78972 | |
| Max Financial Services l | 585.05 | 1.11 | 1394525 | 581092 | 54.93 | Nifty it | 20810.3 | -1.01 | 78972 | |
| Infosys Limited | 1076.55 | -1.31 | 7608413 | 5201636 | 51.13 | Nifty 50 | 11729.6 | -1.34 | 78972 | |
| Hdfc Life Insurance Comp | 586.15 | -0.2 | 4062107 | 2987890 | 50.13 | Nifty Media | 1424.95 | -1.43 | 78972 | |
| Britannia Ind Ltd. | 3541.7 | -0.86 | 667035 | 866263 | 49.39 | Nifty Metal | 2325.4 | -1.45 | 78972 | |
| Tata Consumer Products l | 492.85 | -1.18 | 5195487 | 5109823 | 48.87 | Nifty Pharma | 11325.1 | -1.62 | 78972 | |
| Petronet Lng Limited | 228.7 | -2.54 | 2356716 | 2503900 | 47.47 | Nifty Bank | 24232.5 | -2.17 | ||
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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 : Initial Jobless Claims on 29th October, 2020
•USD: GDP (QoQ) (Q3) on 29th October, 2020 |
NEWS UPDATES
| •Dr. Reddy’s Laboratories Ltd.’s quarterly profit fell as higher raw material costs and impairment charges offset the increase in sales across all major markets. Net profit dropped 30% year-on-year to Rs 772 crore in the quarter ended September, according to an exchange filing. That compares with the Rs 641-crore consensus estimate of analysts tracked by Bloomberg. The Hyderabad-based drugmaker reported impairment charges of Rs 78 crore towards non-current assets.
•RBL Bank reported net profit of ₹144 crore in the quarter ended September 30, 2020. In the June quarter, the lender had posted profit of ₹141 crore while in the year-earlier quarter ₹54 crore. RBL Bank today also informed that Reserve Bank of India has granted approval to Maple II B.V., for acquiring more than 5% but up to 9.99% of the paid up share capital of the RBL Bank Limited. Total Revenue grew 6% Net Interest Income grew 7% YOY to ₹932 crore. Net profit was ₹144 crores, up 165% YoY Gross NPA ratio at 3.34% (3.45% in Q1FY21) Net NPA at 1.38% (1.65% in Q1FY21) •Marico reported a 7.9 percent rise in net profit for the quarter ended September 2020 at Rs 273 crore as against Rs 253 crore in the same quarter last year. Revenue in Q2FY21 increased 8.7 percent to Rs 1,989 crore from Rs 1,829 crore, YoY. Marico’s operational performance during the quarter improved as EBITDA jumped 10.2 percent to Rs 389 crore from Rs 353 crore and EBITDA margin expanded by 30 bps to 19.6 percent from 19.3 percent, YoY. 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 |
| ANDHRAPAP | Quarterly Results | 29-Oct-20 | JKPAPER* | Quarterly Results;General | 29-Oct-20 |
| APOLLOPIPES | Quarterly Results | 29-Oct-20 | KAKATCEM | Quarterly Results | 29-Oct-20 |
| ASTEC | Quarterly Results | 29-Oct-20 | LAURUSLABS | Interim Dividend;Quarterly Results | 29-Oct-20 |
| BAJAJHCARE | Quarterly Results | 29-Oct-20 | MARUTI | Quarterly Results | 29-Oct-20 |
| BANKBARODA | Quarterly Results | 29-Oct-20 | MRPL | Quarterly Results | 29-Oct-20 |
| BLUEDART | Quarterly Results | 29-Oct-20 | ORIENTCEM | Quarterly Results | 29-Oct-20 |
| BPCL | Quarterly Results | 29-Oct-20 | SIS | Quarterly Results | 29-Oct-20 |
| CANBK | Quarterly Results | 29-Oct-20 | SRTRANSFIN | Interim Dividend;Quarterly Results | 29-Oct-20 |
| CHOLAFIN | Quarterly Results | 29-Oct-20 | STAR | Quarterly Results | 29-Oct-20 |
| HAVELLS | Quarterly Results | 29-Oct-20 | TATACHEM | Audited Results;Quarterly Results | 29-Oct-20 |
| HINDCOPPER | General | 29-Oct-20 | TVSMOTOR | Quarterly Results | 29-Oct-20 |
| IDBI | General | 29-Oct-20 | VAIBHAVGBL | Interim Dividend;Quarterly Results | 29-Oct-20 |
| IDEA | Quarterly Results | 29-Oct-20 | WELSPUNIND | Quarterly Results | 29-Oct-20 |
| INDIGO | Quarterly Results | 29-Oct-20 | ZENSARTECH | Quarterly Results | 29-Oct-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| COLPAL | 29-Oct-20 | Interim Dividend – Rs. – 18.00 | CROMPTON | 03-Nov-20 | Interim Dividend – Rs. – 3.00 |
| NESTLEIND | 29-Oct-20 | Interim Dividend – Rs. – 135.00 | GUFICBIO | 03-Nov-20 | Final Dividend – Rs. – 0.0500 |
| OCTAWARE | 29-Oct-20 | E.G.M. | IRBINVIT | 03-Nov-20 | Income Distribution (InvIT) |
| TECHM | 29-Oct-20 | Special Dividend – Rs. – 15.00 | KKCL | 03-Nov-20 | Interim Dividend – Rs. – 15.00 |
| ANGELBRKG | 02-Nov-20 | Interim Dividend – Rs. – 4.1500 | MANINDS | 03-Nov-20 | Interim Dividend – Rs. – 2.00 |
| CRISIL | 02-Nov-20 | Interim Dividend – Rs. – 7.00 | SAGCEM | 03-Nov-20 | Interim Dividend – Rs. – 2.00 |
| ESTER | 02-Nov-20 | Interim Dividend – Rs. – 1.50 | SEACOAST | 03-Nov-20 | Bonus issue 1:2 |
| IVC | 02-Nov-20 | Final Dividend – Rs. – 0.60 | WAAREE | 03-Nov-20 | Bonus issue 2:5 |
| AARTIDRUGS | 03-Nov-20 | Interim Dividend – Rs. – 2.50 | LT | 04-Nov-20 | Special Dividend |
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