Morning-Outlook-Feature-Image

Outlook-12-10-2021

NIFTY:

The Nifty opened at 17867.55 without much of a gap. The index recorded its intraday low at 17839.10 and then started moving on the upside. The index witnessed a sharp upside move of more than 150 points, went above the 18000 mark and recorded its intraday high at 18041.95. Prices then moved sideways. The sideways movement broke on the downside and prices have seen a correction in the last hour of trading and finally closed at 17945.95 with a gain of 50.75 points. All the sectoral indices have closed with a gain except IT that ended with a loss of 3.36%. AUTO led the bulls, gained more than 2% followed by Realty, Financial and Banks. It was a tale of two halves in Nifty. In the first half, prices rallied more than 150 points while corrected almost 100 points in the second half and finally closed with some gains. The last two narrow trading days led to a sharp surge. The index recorded lifetime new highs above the 18000 mark for the first time and ended at a fresh record closing high. The short term trend changes to up. We have mentioned a narrow trading range inside 17450-17950. The range broke on the upside but prices ended almost at the resistance level. We have mentioned that the 18000 zone is a very strong resistance. Confirmation of a breakout will come when Nifty closes above 18000.

BANK NIFTY:

Bank Nifty opened at 37782.75 with a gap down of 77 points. The index recorded its intraday low at 37744.65 near the opening tick and started moving on the upside. A sharp rally of more than 700 points brought prices to its intraday high at 38495.30. Prices have seen a minor correction in the last hour. Private and PSU Banks both indices have performed almost the same, seen an upside move and closed higher by 1.42% and 1.56% respectively. HDFC Bank contributed highest while Bandhan Bank the lowest. It was a trend day on the upside.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
HDFC BANK 1633.8 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1610 and for the target 1665
ITC 238 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 234 and for the target 244

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
ZEEL 310 CE BUY 30.5 CMP 24 40 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
CROMPTON.21.10 Oct 483.4 0.48 23.14 1346400 TCS.21.10 Oct 3697.2 -5.79 39.92 11469300
JKCEMENT.21.10 Oct 3425 0.72 17.2 77525 BANDHANBNK.21.10 Oct 328.3 -5.12 15.83 23020200
TORNTPOWER.21.10 Oct 542.65 7.62 16.85 4680000 DALBHARAT.21.10 Oct 2090.95 -0.65 15.53 344000
ZEEL.21.10 Oct 314.1 5.92 12.26 56022000 MINDTREE.21.10 Oct 4282.95 -3.69 14.76 2935200
APLLTD.21.10 Oct 833 6.66 11.21 2658150 ALKEM.21.10 Oct 3943.45 -0.17 13.38 569400
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
FINNIFTYW.21.10 Oct 18759 2.85 -33.33 80 IRCTC.21.10 Oct 4799.75 -1.67 -11.1 2517450
HINDALCO.21.10 Oct 490.25 3.03 -5.2 26156900 INDUSTOWER.21.10 Oct 304 -0.77 -9.28 13140400
INDIGO.21.10 Oct 2063.3 4.81 -4.88 3804000 DEEPAKNTR.21.10 Oct 2882 -0.34 -3.62 2620000
BEL.21.10 Oct 209 3.93 -4.83 24844400 AUBANK.21.10 Oct 1213 -0.76 -2.82 4238000
DIXON.21.10 Oct 5429 2.76 -4.5 519875 BATAINDIA.21.10 Oct 1960.2 -0.28 -2.78 1904650

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Icici Lombard General In 1536.6 0.47 731875 971342 75.12 Nifty Auto 11375.55 2.67 93681
Hindustan Unilever Ltd 2645.1 0.19 1086252 1176306 74.45 Nifty Realty 529.9 1.73 93681
Crompton Greaves Consume 480.25 0.11 1392123 635842 71.27 Nifty Metal 5766.4 1.5 93681
Petronet Lng Limited 230.35 1.12 1671393 3179251 68.75 Nifty Media 2285.8 1.41 93681
Power Grid Corporation o 193.45 3.06 9736532 4202348 68.62 Nifty Bank 38293.8 1.37 93681
Nestleind 19084.65 0.52 38802 56341 64.58 Nifty Energy 24161.55 1.08 93681
Hdfc Bank Ltd. 1633.8 1.94 6540424 2298470 63.44 Nifty Fmcg 40318.05 0.81 93681
Hdfc Ltd. 2749.25 1.05 1773236 1085176 63.11 Nifty Pharma 14615.35 0.69 93681
Kotak Mahindra Bank Limi 1975.4 2.02 2376167 1219112 62.91 Nifty 50 17945.95 0.28 93681
Ambuja Cements Ltd 402.95 -0.02 3522402 2081847 62.69 Nifty it 35179.95 -3.36 93681

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: CPI (YoY) (Sept) on 12th October, 2021.

INR: WPI Inflation (YoY) (Sept) on 14th October, 2021.

•USD: Core CPI (MoM) (Sep) on 13th October, 2021.

•USD: PPI (MoM) (Sep) on 14th October, 2021.

NEWS UPDATES

•A month after Invesco sought EGM to replace Punit Goenka, as CEO & MD of company, Invesco, also the single largest shareholder in the company, has broken its silence by reaching out to all the shareholders of Zee with an open letter on Monday, highlighting the need to strengthen the independence of the board in light of the “governance” and leadership failures as well as the prolonged underperformance of the media giant.

•Reliance New Energy Solar Ltd., a WOS of Reliance Ind., has acquired REC Solar Holdings AS for an EV of $771 mn .REC acquisition is in line with company’s strategy of investing in new & advanced technologies and operating capabilities aimed at achieving Reliance’s goal of enabling 100 GW clean &  green energy before the end of this decade.

•Nifty hitting 18,000 for first time as gains in Reliance Industries and banking stocks were offset by weakness in IT stocks after Tata Consultancy Services (TCS) reported September-quarter results. The Sensex was up about 400 points to register a new high of 60,441.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BEPL Quarterly Results;Interim Dividend 12-Oct-21 RAJTUBE General 12-Oct-21
BMBMUMG General 12-Oct-21 TARC A.G.M.;General 12-Oct-21
CANOPYFIN General 12-Oct-21 ADSL General 13-Oct-21
DRCSYSTEMS Quarterly Results;General 12-Oct-21 ADVIKLA Quarterly Results 13-Oct-21
GARNETINT General 12-Oct-21 BIRLAMONEY Quarterly Results 13-Oct-21
GMBREW Quarterly Results 12-Oct-21 DISHTV General 13-Oct-21
INDBANK Quarterly Results;General 12-Oct-21 INEOSSTYRO Interim Dividend 13-Oct-21
INDBNK Quarterly Results 12-Oct-21 INFY Audited Results 13-Oct-21
JTLINFRA Quarterly Results 12-Oct-21 MAITRI Preferential Issue of shares 13-Oct-21
MAAJTL General 12-Oct-21 MINDTREE Quarterly Results;Interim Dividend 13-Oct-21
MAJESAUT General 12-Oct-21 MORARKFI Quarterly Results 13-Oct-21
NEXUSSURGL General 12-Oct-21 NATIONSTD Quarterly Results 13-Oct-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
 MANINFRA 13-Oct-21 Interim Dividend – Rs. – 1.26 LANCER 13-Oct-21 Bonus issue 2:1
ADVITIYA 13-Oct-21 Bonus issue 44100 SRF 13-Oct-21 Bonus issue 4:1
BNRSEC 13-Oct-21 E.G.M. NORBTEAEXP 14-Oct-21 E.G.M.
DHANVARSHA 13-Oct-21 Stock  Split From Rs.10/- to Rs.2/- SEVENHILL 14-Oct-21 Stock  Split From Rs.10/- to Rs.1/-
INFRATRUST 13-Oct-21 Income Distribution (InvIT) SWORDEDGE 14-Oct-21 Stock  Split From Rs.10/- to Rs.1/-
JTLINFRA 13-Oct-21 Stock  Split From Rs.10/- to Rs.2/- TCS 14-Oct-21 Interim Dividend – Rs. – 7

Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, suhail@elitewealth.in
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing research@elitestock.com with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail research@elitestock.com.
Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
2. Compensation
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL

FILING COMPLAINTS ON SCORES - EASY & QUICK

a. Register on SCORES portal

b. Mandatory details for filing complaints on SCORES:
i. Name, PAN, Address, Mobile Number, E-mail ID

c. Benefits:
i. Effective communication
ii. Speedy redressal of the grievances

SEBI : https://www.scores.gov.in/scores/complaintRegister.html