NIFTY:

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:

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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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
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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DERIVATIVE PICKS

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
Sector Price Price% OI% OI Sector Price Price% OI% OI
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
Sectors Price Change % Quantity
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
Godrejprop 865.4 -0.14 927636 148159 49.24 Nifty Bank 22370.95 0.56 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

   Domestic                                                                                                                                                  International
•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

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NEWS UPDATES

•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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
TI Quarterly Results 6-Oct-20 GMBREW General;Quarterly Results 8-Oct-20
ICICIPRULI General 7-Oct-20 INDLEASE A.G.M.;General 8-Oct-20
MIC Audited Results 7-Oct-20 MOTOGENFIN A.G.M.;General 8-Oct-20
MJCO Audited Results;Quarterly Results 7-Oct-20 TWL Audited Results 8-Oct-20
NGIL A.G.M.;General 7-Oct-20 ICSL Quarterly Results 9-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

CORPORATE ACTION

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

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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