Morning-Outlook-Feature-Image
Outlook-10-06-2021

NIFTY:

Nifty opened with negative bias due to global market but did not sustain at lower levels and got back into positive territory in the second half and closed at 17822 with a gain of almost one percent up. On the sectoral front , IT, oil&gas, banking were the major participant while majority ended with the positive bias.

As we discussed in our previous report nifty will formed inverted h&s pattern on 15 min chart and this breakout will be confirmed above 17750 and our respected target was 17950 , nifty did the same  and witness one side momentum in the second half.

Structurally, formation of higher top higher bottom on the daily chart and inverted h&s  signifies positive trend is still intact. We expect nifty will trade with positive bias in coming session any correction would be buying opportunity with a stop loss of 17700.

BANK NIFTY:

Bank nifty opened with negative bias but as the day progressed index came into positive territory and closed with a gain of .43 percent up at 37741.  PSU banking stocks continue to outperform while the private banking stock witnessed profit booking as majority ended with positive bias.

Going ahead, we expect the index to undergo a healthy consolidate in the broad range of 36200 -38000 in the coming week, thus forming a higher base for the next leg of up move • Volatility is likely to remain high on account of the volatile global cues . Buying on decline strategy has worked well in the last 15 months, thereby the current volatility would present incremental buying opportunity in quality banking stocks.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
INFY 1692 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1680 and for the target 1710
NAM INDIA 448 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 442 and for the target 458

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
JSWSTEEL 680 CE BUY 32 CMP 27 40 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
PERSISTENT.Oct 28 3768.05 0.88 41.27 190500 DALBHARAT.Oct 28 2072.5 -3.06 64.08 295750
ONGC.Oct 28 163.85 10.78 31.47 64456700 ICICIGI.Oct 28 1561.7 -1.08 38.31 3411050
NAM-INDIA.Oct 28 449.05 0.41 24.72 2640000 OBEROIRLTY.Oct 28 889.8 -3.58 24.73 984900
TITAN.Oct 28 2208.45 1.9 16.27 5321250 IPCALAB.Oct 28 2352.9 -2.2 16.89 582300
JKCEMENT.Oct 28 3343.15 0.31 15.44 79800 POWERGRID.Oct 28 190.1 -0.96 16.59 38189613
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
MANAPPURAM.Oct 28 184.4 0.57 -3.35 19908000 ACC.Oct 28 2270 -0.01 -2.42 2980500
MCX.Oct 28 1693.9 0.1 -1.72 1797600 CANFINHOME.Oct 28 704.95 -1.28 -1.43 4571775
ADANIENT.Oct 28 1535.55 0.03 -1.55 25347000 GODREJPROP.Oct 28 2294 -1.95 -1.32 2143700
ASHOKLEY.Oct 28 132.7 1.65 -1.22 51988500 SUNPHARMA.Oct 28 822.35 -1.36 -1.17 32527600
POLYCAB.Oct 28 2456.95 0.39 -1.14 884100 ZEEL.Oct 28 299.6 -0.93 -0.55 49362000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Oil & Natural Gas Corp 163.65 10.87 131238378 4139955 37.74 Nifty Energy 24006.15 2.88 95382
Tata Power Co. Ltd. 179.4 6.41 161189379 3862291 22.45 Nifty it 35544.3 1.19 95382
Aditya Birla Fashion And 255.6 6.15 11071898 619471 32.09 Nifty Media 2228.65 0.83 95382
Piramal Enterprises 2922.45 4.89 3292971 278967 29.67 Nifty 50 17822.3 0.74 95448
Aarti Industries Ltd. 1066.2 4.39 4383093 992649 32.93 Nifty Auto 10692 0.48 95382
Indusind Bank Ltd. 1168.6 4.36 5270013 6651302 31.12 Nifty Bank 37741 0.43 95382
Coalindia 197.95 4.21 42359592 241476 25.36 Nifty Fmcg 40427.5 -0.04 95382
Indian Railway Catering 4166.1 3.92 7369295 2006146 28.64 Nifty Metal 5800.3 -0.12 95382
Hindustan Petroleum Corp 314.45 3.85 10612386 447771 34.04 Nifty Pharma 14738.25 -0.5 95382
Coromandel International 827.05 3.27 883386 916682 47.88 Nifty Realty 510 -1.36 95382

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: RBI Interest Rate Decision on 8th October, 2021

INR: Deposit and Loan Growth Rate on 8th October, 2021

•USD: Crude Oil Inventories on 6th October, 2021

•USD: API Weekly Crude Oil Stock on 6th October, 2021

NEWS UPDATES

•Vedanta Group will look to bid for buying the government’s stake in Hindustan Copper Ltd as when the state-owned firm is put up for privatisation, its billionaire founder Anil Agarwal has said. He said that the company is doing its due diligence for the same.

•The 62 per cent increase in natural gas prices by the Indian government will boost the profitability of upstream companies in the country and support their investment spending, Fitch Ratings said on Tuesday. The price for gas from fields that were assigned by the state to oil companies, mainly Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL), increased to USD 2.90 per million British thermal units (mmBtu) for October 2021-March 2022, from USD 1.79 per mmBtu in the previous six months.

•India could face as long as six months battling to ensure coal-fired power plants have enough fuel as the nation’s energy crisis escalates. More than half the nation’s plants are on alert for outages after surging electricity demand and a slump in local coal output eroded stockpiles. Power stations had an average of four days’ worth of coal at the end of last month, the lowest level in years, and down from 13 days at the start of August.

•Telecom operator Bharti Airtel and equipment maker Ericsson on Tuesday said they have conducted India’s first 5G network trial in a rural location, demonstrating the potential that 5G can unleash in bridging the digital divide. The demonstration took place in Bhaipur Bramanan village on the outskirts of Delhi-NCR using 5G trial spectrum allocated to Airtel by the Department of Telecom.

Source: Economic Times,  Indian Express  ,Business Today, Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
7SEASL Preferential Issue of shares 06-Oct-21 LLOYDSME General 07-Oct-21
ASITCFIN General 06-Oct-21 MEDICO Bonus issue;Increase in Auth. Capital 07-Oct-21
ASYAINFO Quarterly Results 06-Oct-21 SYLPH Quarterly Results 07-Oct-21
INOXWIND General 06-Oct-21 TCMLMTD Rights Issue 07-Oct-21
MAYUKH General 06-Oct-21 BESTAGRO General 08-Oct-21
NAZARA General;Preferential Issue of shares 06-Oct-21 CGVAK General 08-Oct-21
RACE General 06-Oct-21 EARUM Stock  Split 08-Oct-21
TRIVENIGQ General 06-Oct-21 ECORECO Quarterly Results 08-Oct-21
GOKEX General 07-Oct-21 ICSL Quarterly Results 08-Oct-21
INDITALIA General 07-Oct-21 KANELIND Quarterly Results 08-Oct-21
INFRATRUST General 07-Oct-21 MISHTANN Interim Dividend;Quarterly Results 08-Oct-21
INTELSOFT Quarterly Results 07-Oct-21 NATURAL Quarterly Results 08-Oct-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ANUPAM 06-Oct-21 Stock  Split From Rs.10/- to Rs.1/- ASIANTILES 11-Oct-21 Final Dividend – Rs. – 0.5000
AFFLE 07-Oct-21 Stock  Split From Rs.10/- to Rs.2/- GENSOL 11-Oct-21 Bonus issue 1:3
INDSOYA 07-Oct-21 Stock  Split From Rs.10/- to Rs.5/- ADVITIYA 13-Oct-21 Bonus issue 44100
UNISON 07-Oct-21 Bonus issue 4:1 DHANVARSHA 13-Oct-21 Stock  Split From Rs.10/- to Rs.2/-
DCMSRMIND 08-Oct-21 Stock  Split From Rs.10/- to Rs.2/- INFRATRUST 13-Oct-21 Income Distribution (InvIT)
ASIANTILES 11-Oct-21 Final Dividend – Rs. – 0.5000 JTLINFRA 13-Oct-21 Stock  Split From Rs.10/- to Rs.2/-

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