NIFTY:

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:

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.

Trade AnyTime AnyWhere With Elite Empower Mobile App

Elite-Empower-App-Promotional-Banner-img1

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
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

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
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
Sector Price Price% OI% OI Sector Price Price% OI% OI
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
GRASIM.Oct 29 758.75 0.78 -0.59 17508500
HCLTECH.Oct 29 828.55 0.25 -0.54 15691200

Get Stock Market Recommendation By Our Research Analysts

Market-Research-Promotional-Banner-img5

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Adaniports 362.9 3.58 7483578 9020635 75.83 Nifty Realty 221.85 2.59 82230
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

   Domestic                                                                                                                                                  International
•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

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

NEWS UPDATES

•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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ALSL General;A.G.M. 7-Oct-20 ZEELEARN Audited Results 7-Oct-20
GANESHBE Preferential Issue of shares 7-Oct-20 ZYDUSWELL General 7-Oct-20
ICICIPRULI General 7-Oct-20 5PAISA Quarterly Results 8-Oct-20
MIC Audited Results 7-Oct-20 ALPHA Quarterly Results 8-Oct-20
MIDINFRA Quarterly Results 7-Oct-20 COSPOWER General;A.G.M. 8-Oct-20
MJCO Audited Results;Quarterly Results 7-Oct-20 GMBREW General;Quarterly Results 8-Oct-20
NGIL General;A.G.M. 7-Oct-20 INDLEASE General;A.G.M. 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

CORPORATE ACTION

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

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