outlookNIFTY:

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.

Trade AnyTime AnyWhere With Elite Empower Mobile App

Elite-Empower-App-Promotional-Banner-img1

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.

Get All Your Mutual Fund Portfolio Retuns on Your Mobile by Elite Kuber App


Elite-Kuber-Mutual-Fund-Promotional-Banner-img

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

Get Stock Market Recommendation By Our Research Analysts

Market-Research-Promotional-Banner-img5

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

Open Your Demat Account to Invest in Upcoming IPO’sDemat-and-Trading-Account-Promotion-Banner

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

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


For Daily Share Market Updates, Daily debt market review, Market Research Analysis reports, Weekly Techno-Funda Report, Fundamental Analysis Report, Monthly Recommended stock Picks, Equity Trading Tips, Upcoming IPO/NFO/Bonds/Ncd’s updates & other related information Subscribe our research plan