The Nifty continued its gains for the third consecutive day. The index opened with a gap up of 100 points at 11603.45. The index then traded sideways till 2:00 PM. After that prices have seen a sharp rally of almost 100 points. The index closed at 11662.40 with a gain of 159.05 points. Amongst the sectoral indices, Financials, Realty and Bank have outperformed and closed higher by 3.15%, 2.59% and 2.16% respectively.
The Nifty continued its relentless rally, as it crossed 11650.
The long-term trend has now changed to up. It moved down for a few days when the Nifty dipped to 10800. Then it turned sideways and now has turned up. We need to be careful about the possibility of a reversal, since the Nifty is now entering a strong resistance zone between 11600-11800. However, we prefer to stay with the trend and therefore we will certainly buy on any dip or consolidation that we may see.
Bank Nifty opened at 22673.05 with a gap up of 303 points. The index traded sideways for almost the whole day and then we saw sharp move in the last hour of trading. The index closed at 22853.70 with a gain of almost 500 points. Private Banks have continued its outperformance and closed higher by 2.29%. Within the index, in terms of points, HDFC Bank contributed highest followed by ICICI Bank. It was a choppy day with a bullish bias where the index closed near its day high.
We had identified a strong resistance around 22500-23000. The prices are trading inside these levels and closed there. Short term trend is up but we should be cautious as the index is moving in a strong resistance zone.
Short term trend is up and intact. Intraday traders should look to buy on dips.
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|HDFCLIFE||582.05||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 576 and for the target of 592.|
|ACC||1437.70||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1425 and for the target of 1465|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|PEL||1350 CE||BUY||76||CMP||68||88||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|HDFCLIFE.Oct 29||588||1.75||26.83||12722600||BRITANNIA.Oct 29||3776.95||-1.76||15.39||1052600|
|CHOLAFIN.Oct 29||261.45||3.73||14.41||7382500||EXIDEIND.Oct 29||164.95||-1.2||12.27||8665200|
|LICHSGFIN.Oct 29||289.45||4.74||14.22||8932000||SRTRANSFIN.Oct 29||656.05||-0.11||8.82||4114056|
|AMBUJACEM.Oct 29||228.7||2.93||13.84||15270000||TVSMOTOR.Oct 29||472||-0.32||7.93||5013400|
|TATAMOTORS.Oct 29||145||7.77||13.42||80672100||AMARAJABAT.Oct 29||744.25||-1.46||7.87||918000|
|Short Covering||Long Unwinding|
|UBL.Oct 29||980.25||1.76||-7.19||1300600||PVR.Oct 29||1253.2||-0.17||-1.01||1602766|
|DIVISLAB.Oct 29||3164.8||0.72||-1.11||3634400||GODREJCP.Oct 29||742||-1.93||-0.54||5194000|
|INFRATEL.Oct 29||182.2||1.65||-0.64||13479200||JUBLFOOD.Oct 29||2341.3||-1.95||-0.53||1875000|
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TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Icici Prudential Life In||430.75||2.54||1358416||1548731||64.84||Nifty Bank||22853.7||2.16||82230|
|Hdfc Life Insurance Comp||582.05||1.27||5665979||1508985||60.59||Nifty Media||1617.3||1.83||82230|
|Vedanta Limited||137.9||0.07||26883321||16610725||60.52||Nifty 50||11662.4||1.38||82230|
|Hdfc Ltd.||1934.4||8.36||16829628||2232184||55.02||Nifty Auto||8058.1||1.26||82230|
|Itc Ltd.||169.9||0.38||21886300||13013694||53.55||Nifty it||20896.75||0.42||82230|
|Balkrishna Ind. Ltd||1435.5||-1.05||578274||372762||51.69||Nifty Pharma||12009.45||-0.12||82230|
|Mindtree Limited||1371.95||1.67||935403||651541||49.31||Nifty Fmcg||30054.7||-0.19||82230|
|Godrej Cons Products Ltd||740.65||-1.58||1714797||1163908||48.91||India Vix||19.64||-0.3||82230|
|Hindustan Unilever Ltd||2115.9||0.23||1679500||804700||48.88||Nifty Metal||2302.7||-0.7||82230|
UPCOMING ECONOMIC DATA
|•INR: RBI Interest Rate Decision on 9th October, 2020
•INR: Bank Loan Growth on 9th October, 2020
|•USD: FOMC Meeting Minutes on 7th October 2020
•USD: Crude Oil Inventories on 7th October, 2020
|•Adani Ports and Special Economic Zone Ltd (APSEZ) has completed the acquisition of controlling stake of 75 per cent in Krishnapatnam Port Co. Ltd (KPCL) for an enterprise value of Rs 12,000 crore. The acquisition has been done at nearly 13 per cent lower than original deal value of Rs 13,500 crore. “The acquisition will result in APSEZ having a controlling stake of 75 per cent in KPCL from the CVR Group and other investors.
•India’s Monetary Policy Committee will meet next between Oct. 7 and 9, the Reserve Bank of India said in a release on Tuesday. The first meeting of the new MPC will likely conclude in a status quo on interest rates. Retail inflation continues to run above India’s inflation target of 4 (+/-2)%, leaving little room to lower rates despite weak growth.
•Larsen and Toubro (L&T) on Tuesday said it has launched the seventh and final offshore vessel for the Indian Coast Guard at its defence shipyard at Kattupalli. The vessel is the last in the series of seven offshore patrol vessels (OPVs) contracted to L&T by the defence ministry in March 2015.
•Godrej Consumer Products Ltd. expects sales to rise in the quarter ended September as demand remained stable across categories and geographies it operates in. “In India, we expect to deliver close to low double-digit year-on-year sales growth this quarter, led by hygiene (including soaps) and household insecticides categories,” the consumer goods maker said in its quarterly update to the exchange.
Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|GANESHBE||Preferential Issue of shares||7-Oct-20||ZYDUSWELL||General||7-Oct-20|
|MIC||Audited Results||7-Oct-20||ALPHA||Quarterly Results||8-Oct-20|
|MJCO||Audited Results;Quarterly Results||7-Oct-20||GMBREW||General;Quarterly Results||8-Oct-20|
|PERVASIVE||Rights Issue||7-Oct-20||MJCO||Buy Back of Shares||8-Oct-20|
|TCS||Buy Back; Interim Dividend; Results||7-Oct-20||MOTOGENFIN||General;A.G.M.||8-Oct-20|
|UNITY||Audited Results||7-Oct-20||PRABHAT||Audited Results||8-Oct-20|
|URJAGLOBA||General;Right Issue of Equity Shares||7-Oct-20||SGL||General||8-Oct-20|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|GDL||7-Oct-20||Interim Dividend – Rs. – 2.00||SHANGAR||12-Oct-20||Stock Split From Rs.10/- to Rs.5/-|
|KDML||7-Oct-20||Bonus issue 1:1||INFRATRUST||14-Oct-20||Income Distribution (InvIT)|
|SMGOLD||8-Oct-20||Bonus issue 1:2||TCS||14-Oct-20||Interim Dividend|
|VIVIDM||8-Oct-20||Bonus issue 26:10||ASHFL||15-Oct-20||Dividend – Rs. – 0.10|
|CHDCHEM||9-Oct-20||Interim Dividend – Rs. – 0.1500||ELIXIR||15-Oct-20||Final Dividend – Rs. – 1.2500|
|SHUBHAM||9-Oct-20||Bonus issue 1:1||VAL||15-Oct-20||Bonus issue 3:5|
|POWERMECH||12-Oct-20||Final Dividend – Rs. – 1.00||HIMTEK||16-Oct-20||Dividend – Rs. – 0.20|
|SHANGAR||12-Oct-20||Bonus issue 1:1||IRCTC||19-Oct-20||Final Dividend – Rs. – 2.50|
|SHANGAR||12-Oct-20||Interim Dividend – Rs. – 0.10||ISFT||21-Oct-20||Dividend – Rs. – 1.00|
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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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