The Nifty started the week with a gap up of 71 points at 11487.80. Prices have first seen a sharp upside rally and recorded its intraday high at 11578.05 and then a sharp decline came of almost 130 points towards its intraday low at 11452.30. Prices have continued this up’s and down’s for the whole day and finally closed at 11503.35 up by 86.40 points. The index traded very choppy and volatile and made a Doji pattern at its top of the rally. IT, Metal and Pharma have outperformed and closed higher by 3.47%, 2.55%, 1.70% respectively.
We are now waiting for new patterns to emerge.
The long term trend remains sideways. Markets have been consolidating for the last few weeks and this sideways trend reflects consolidation. Long term momentum has started moving up after reaching a strength area. The intermediate trend is now up.
Bank Nifty opened at 22352.10 with a gap up of 118 points. The index first rallied and recorded its intraday high at 22768.55. After that prices have traded sideways and then saw a sharp decline for the rest of the day. Prices have finally closed at 22370 with a gain of 136 points.
Private Banks have continued its outperformance and closed higher by 0.79%. Within the index, in terms of points, ICICI Bank contributed highest while SBI contributed lowest. It was a choppy and volatile day in the index where prices have seen sharp intraday moves in both directions.
We had identified a strong resistance around 22500-23000 zones. Prices have found intraday resistance inside this range and saw a sharp decline.
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|DIVISLAB||3126.20||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 3085 and for the target of 3185|
|PETRONET LNG||226.10||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 222.50 and for the target of 233|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|AUROPHARMA||840 CE||BUY||42.95||CMP||35||57||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|TCS.Oct 29||2714.5||7.47||17.53||7059000||ESCORTS.Oct 29||1246.4||-3.43||18.55||2797300|
|CADILAHC.Oct 29||419.4||4.78||16.25||8703200||RECLTD.Oct 29||99.5||-3.12||14.48||19026000|
|MINDTREE.Oct 29||1356.05||1.78||14.43||1674400||BALKRISIND.Oct 29||1440.35||-1.9||12.39||1691200|
|GODREJPROP.Oct 29||870.9||0.16||14.13||698100||LICHSGFIN.Oct 29||276.8||-1.84||11.23||8142000|
|WIPRO.Oct 29||335.5||6.66||12.6||27302400||HEROMOTOCO.Oct 29||3140.1||-0.73||9.85||2212500|
|Short Covering||Long Unwinding|
|MANAPPURAM.Oct 29||167.6||0.24||-2.1||15654000||ZEEL.Oct 29||209.1||-2.68||-4.51||32274000|
|MUTHOOTFIN.Oct 29||1164.8||0.41||-1.81||3627750||BAJFINANCE.Oct 29||3386||-2.13||-3.05||4136750|
|BANDHANBNK.Oct 29||292.4||1.81||-1.81||13566600||BAJAJ-AUTO.Oct 29||2954||-1.63||-1.52||2425500|
|PNB.Oct 29||28.25||0.89||-1.66||63084000||AMARAJABAT.Oct 29||753.7||-0.24||-1.38||859000|
|BPCL.Oct 29||355.35||0.04||-1.58||26618400||M&MFIN.Oct 29||129.15||-0.84||-0.82||15921612|
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TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Petronet Lng Limited||226.1||2.45||4180950||3099947||68.76||India Vix||19.71||7.41||80223|
|Vedanta Limited||137.8||0.25||27447501||6025576||64.49||Nifty it||20809||3.47||80223|
|Hdfc Ltd.||1785.1||-0.31||4056801||2061655||55.63||Nifty Metal||2318.85||2.55||80223|
|Ultratech Cement Limited||4047.15||-1.23||313282||208499||51.29||Nifty Pharma||12024||1.7||80223|
|Infosys Limited||1048.7||3.05||14212560||2805180||50.42||Nifty 50||11503.35||0.76||80223|
|Exide Industries Ltd||166.05||1.87||4223272||1519324||48.08||Nifty Fmcg||30112.15||0.34||80223|
|Hindustan Petroleum Corp||175.6||0.06||8560741||4468298||45.17||Nifty Auto||7957.95||-0.1||80223|
|Container Corp Of India||352.55||-1.04||2883385||948254||42.29||Nifty Media||1588.25||-0.18||80223|
|Hindustan Unilever Ltd||2111.05||0.77||1646114||896436||42.05||Nifty Energy||14999.05||-0.34||80223|
UPCOMING ECONOMIC DATA
|•INR: Nikkei Services PMI (Sep) on 6th October, 2020
•INR: Bank Loan Growth on 9th October, 2020
|•USD: EIA Short-Term Energy Outlook on 6th October 2020
•USD: Crude Oil Inventories on 7th October, 2020
|•Tata Consultancy Services Ltd. on Wednesday will consider its third share buyback proposal to reward stakeholders. That sent the stock soaring, making the software services provider the second listed Indian company to achieve a market cap of Rs 10 lakh crore. Besides discussing the share buyback plan, the board will meet on Oct. 7 to consider results for the quarter ended September and second interim dividend,. No other details of the share buyback were disclosed.
•Vodafone Group on Monday said it has received an approval from its lenders, who contributed in funding for Vodafone Idea, to proceed with the merger of Indus Towers with Bharti Infratel. Vodafone Idea holds 11.15 per cent stake in Indus Towers, which is estimated to be valued at around Rs 4,000 crore.
•The Supreme Court on Monday adjourned the hearing in the loan moratorium case to October 13. The bench granted an additional week’s time to the government to file the affidavit recounting the guidelines, notifications and circulars that have been taken by the RBI and Union government. The development comes as the Centre is set to formulate a scheme to waive compound interest for small borrowers during the six-month moratorium period, which may come at a cost of Rs 5,000-7,000 crore.
•Larsen & Toubro (L&T) on Monday said it has received multiple orders across various business segments in the domestic market. The company did not provide the value of the contracts but said the orders fall under the “significant” category, which ranges between Rs 1,000 crore and Rs 2,500 crore according to the classification of contracts.
Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|TI||Quarterly Results||6-Oct-20||GMBREW||General;Quarterly Results||8-Oct-20|
|MJCO||Audited Results;Quarterly Results||7-Oct-20||TWL||Audited Results||8-Oct-20|
|PERVASIVE||Rights Issue||7-Oct-20||INDIANACRY||Quarterly Results||9-Oct-20|
|TCS||Interim Dividend;Quarterly Results||7-Oct-20||MPILCORPL||General||9-Oct-20|
|UNITY||Audited Results||7-Oct-20||RCF||Audited Results;General||9-Oct-20|
|URJAGLOBA||Right Issue of Equity Shares;General||7-Oct-20||SSWL||Quarterly Results||9-Oct-20|
|5PAISA||Quarterly Results||8-Oct-20||TERAI||Quarterly Results||9-Oct-20|
|ALPHA||Quarterly Results||8-Oct-20||HFCL||Quarterly Results||10-Oct-20|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|ANANTRAJ||06-Oct-20||Spin Off||SHUBHAM||09-Oct-20||Bonus issue 1:1|
|SGRL||06-Oct-20||Bonus issue 3:26||POWERMECH||12-Oct-20||Final Dividend – Rs. – 1.00|
|GDL||07-Oct-20||Interim Dividend – Rs. – 2.00||SHANGAR||12-Oct-20||Stock Split From Rs.10/- to Rs.5/-|
|KDML||07-Oct-20||Bonus issue 1:1||SHANGAR||12-Oct-20||Interim Dividend – Rs. – 0.10|
|SMGOLD||08-Oct-20||Bonus issue 1:2||SHANGAR||12-Oct-20||Bonus issue 1:1|
|VIVIDM||08-Oct-20||Bonus issue 26:10||INFRATRUST||14-Oct-20||Income Distribution (InvIT)|
|CHDCHEM||09-Oct-20||Interim Dividend||TCS||14-Oct-20||Interim Dividend|
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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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