The Nifty opened at 11679.25 without any gaps. Prices have seen a down move for the first 5 minutes of trading and then started moving up. The index never looked down afterward, held onto the gains and rallied 130 points. Minor dips in between were quickly bought into. Prices have closed at 11738.85 up by 76.45 points. The Auto sector performed well and closed higher by 1.39% while the Media sector underperformed and closed lower by 2.54%.
On intraday charts, the Nifty has now gone into a very narrow range, with support at 11700 and resistance at 11755. For today, it is possible to trade a breakout from this range in either direction. If the Nifty opens between these two levels, buy above 11755, and keep a stop at 11690.
If the Nifty starts falling, sell below 11690 and keep a stop at 11730. If the Nifty opened with a gap up, wait patiently and then buy above first 15 minutes high. Or if there is a gap down, sell below the low of the first 15 minutes. The low should be below 11690 and the high should be above 11755.
Bank Nifty opened at 22836.95 without any gaps. The index moved lower after the open and then saw a sharp up move. After that, the index held onto the gains and traded sideways for the rest of the day and closed at 22964.80 with a gain of more than 120 points. Private Banks have continued its outperformance and closed higher by 0.55% while PSU Banks closed lower by 1.15%. Within the index, in terms of points, HDFC Bank contributed highest while Kotak Bank the lowest. Bank Nifty continues to move higher for the fourth consecutive day. It was a choppy day with a bullish bias where the index closed near its high.
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|TVSMOTOR||478.75||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 467 and for the target of 492-502.|
|ICICIBANK||382.65||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 376 and for the target of 392.|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|M&M||630 CE||BUY||25.70||CMP||22.50||34||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|TITAN.Oct 29||1258.65||4.4||19.22||6126750||MGL.Oct 29||833.45||-3.02||17.52||1408800|
|APOLLOHOSP.Oct 29||2180||2.64||14.39||1701500||UBL.Oct 29||961.4||-1.86||13.75||1430100|
|ONGC.Oct 29||71.2||2.15||13.78||56964600||SRTRANSFIN.Oct 29||634.05||-3.33||13.51||4410871|
|TCS.Oct 29||2758.05||1.35||13.62||8102700||BHEL.Oct 29||28.5||-3.23||12.87||74214000|
|BATAINDIA.Oct 29||1378.1||1.87||11.86||1909050||POWERGRID.Oct 29||160.25||-2.35||11.67||18484000|
|Short Covering||Long Unwinding|
|RELIANCE.Oct 29||2267.7||2.04||-4.62||32011950||M&MFIN.Oct 29||128.1||-3.03||-5.06||15832068|
|INFRATEL.Oct 29||185.25||1.51||-2.87||12891200||DLF.Oct 29||159.1||-2.9||-4.49||27967500|
|CADILAHC.Oct 29||416.75||0.17||-2.38||7759400||TATACHEM.Oct 29||301.45||-1.49||-3.62||6182000|
|SRF.Oct 29||4175||0.64||-0.82||632000||IDEA.Oct 29||8.55||-3.39||-3.32||358820000|
|BERGEPAINT.Oct 29||610.95||0.49||-0.74||3856600||CHOLAFIN.Oct 29||253.7||-2.65||-3.13||6725000|
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TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Hdfc Life Insurance Comp||578.95||-0.53||2588117||4295393||75.81||India Vix||20.06||2.14||81003|
|Vedanta Limited||123.35||-10.55||108110333||18603840||69.2||Nifty Auto||8170.05||1.39||81003|
|Eicher Motors Ltd||2238||1.84||1517302||1822672||66.18||Nifty 50||11738.85||0.66||81003|
|Sbi Life Insurance Compa||827.95||-0.25||637358||755193||62.32||Nifty it||21017.4||0.58||81003|
|Srf Ltd.||4156.3||0.75||131772||73919||47.02||Nifty Fmcg||30168.8||0.38||81003|
|Kotak Mahindra Bank Limi||1324.7||-1.01||2834734||1227288||46.62||Nifty Energy||14914.4||-0.35||81003|
|Petronet Lng Limited||219.4||-2.03||2897833||1232386||46.4||Nifty Pharma||11915||-0.79||81003|
|Infosys Limited||1066.55||1.02||9284060||4208832||46.3||Nifty Metal||2267.75||-1.52||81003|
|Vodafone Idea Limited 6||8.55||-2.84||189210634||79014367||45.9||Nifty Media||1576.25||-2.54||81003|
UPCOMING ECONOMIC DATA
|•INR: RBI Interest Rate Decision on 9th October, 2020
•INR: Bank Loan Growth on 9th October, 2020
|•USD: Core PPI (YoY) on 10th October 2020|
|•Indian bankers fear the government’s decision to waive some interest payments on loans under a COVID-19 support plan will create unnecessary work for lenders and lead to more litigation, without providing much of a boost for the sagging economy.
•Sales of Titan Co.’s mainstay jewellery business rose nearly back to the year-ago level ahead of the festival and wedding season as India continues to reopen the economy after the lockdown. The jewellery-to-watchmaker is seeing demand rise as gold prices remain near a record high despite falling from their peak. The company is betting on increased demand during the Diwali festival season, considered auspicious for buying the precious metal in one of the world’s biggest gold-consuming nation.
•Dixon Technologies Ltd. expects to earn a revenue of Rs 25,000-30,000 crore from the government’s incentive scheme for large-scale electronics manufacturing after India shortlisted the company for the subsidy programme. The company, he said, will reveal its partnerships with global original equipment manufacturers in the next 30-35 days.
•Bharti Airtel has extended its contract with Ericsson for deployment of 5G-ready radio network, a statement said on Wednesday. The Made-in-India 5G-ready Ericsson Radio System products is expected to enhance the network experience of Airtel customers, the statement said but did not disclose the size of the renewed multi-year contract.
Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|5PAISA||Quarterly Results||8-Oct-20||AVTIL||General;Voluntary Delisting of Shares||9-Oct-20|
|GMBREW||General;Quarterly Results||8-Oct-20||INDIANACRY||Quarterly Results||9-Oct-20|
|MJCO||Buy Back of Shares||8-Oct-20||MPILCORPL||General||9-Oct-20|
|PRABHAT||Audited Results||8-Oct-20||RCF||Audited Results;General||9-Oct-20|
|SGRL||Half Yearly Results||8-Oct-20||TERAI||Quarterly Results||9-Oct-20|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|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|
|SHANGAR||12-Oct-20||Stock Split From Rs.10/- to Rs.5/-||HCLTECH||22-Oct-20||Interim Dividend|
|INFRATRUST||14-Oct-20||Income Distribution (InvIT)||LTTS||26-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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