Morning-Outlook-Feature-Image

 Outlook-14-10-2021

NIFTY:

The Nifty opened at 18097.85 with a gap up of more than 100 points. Prices first moved down almost 50 points and recorded its intraday low at 18050.75. The index found some support there and began to rise. A rally of almost 150 points from the lows brought prices to its intraday high at 18197.80. Prices then took a pause there and spent the rest of the day moving sideways and finally closed at 18167.75 with a gain of 169.80 points. All the sectoral indices have closed with gains except Realty that ended with a loss of 0.24%. The Auto outperformed and ended with a gain of more than 3%. The Nifty rose for the fifth consecutive session and closed at record high levels. Strong buying is seen in Auto, Metal and IT stocks while some selling pressure is seen in Realty stocks.

We had suggested to buy on a breakout above 18040. We bought above the 15 minutes high at 18100. Stay long with a stop at 18100 and target of 18250.

BANK NIFTY:

Bank Nifty opened at 38753.30 with  a gap up of 219 points. The index first consolidated and then started drifting downwards and recorded its intraday low at 38502.70. In the afternoon prices have again moved up and recorded its intraday high at 38779.05. The index fell again and closed with a gain of less than 100 points. PSU and Private Banks both indices have seen an upside move and closed higher by 0.80% and 0.44% respectively. Within the index, HDFC Bank contributed highest while SBIN the lowest.

It was a volatile day in the index where prices have seen multiple swings in both directions. Traders should look to buy on a dip at 38000.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
ITC 249.2 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 245 and for the target 256
JSWSTEEL 681.45 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 670  and for the target 700

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
WIPRO 680 CE BUY 29.5 CMP 25 37 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
INDIAMART.21.10 Oct 9575 9.04 31.93 295350 FINNIFTYW.21.10 Oct 18634.8 -0.66 2650 2200
M&M.21.10 Oct 940.05 5.48 29.48 12938100 SRF.21.10 Oct 2403.15 -3.1 445.09 3445000
BHEL.21.10 Oct 76 7.12 27.14 124257000 CANBK.21.10 Oct 187 -0.11 10.48 68142600
TATAMOTORS.21.10 Oct 510.15 20.89 16.11 109622400 COLPAL.21.10 Oct 1702.5 -0.55 9.97 2552200
TATACHEM.21.10 Oct 1122.75 15.25 11.01 12919000 TORNTPOWER.21.10 Oct 519.85 -0.52 9.56 4657500
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
SAIL.21.10 Oct 121.75 4.69 -4.38 164967500 BATAINDIA.21.10 Oct 2072 -0.98 -4.95 2059750
UBL.21.10 Oct 1726 0.16 -3.68 1463700 DELTACORP.21.10 Oct 283.7 -0.87 -2.36 12261300
JSWSTEEL.21.10 Oct 685.15 1.21 -2.53 43110900 IOC.21.10 Oct 131.6 -0.19 -1.97 38408500
ASHOKLEY.21.10 Oct 146.95 5.15 -2.48 42444000 HAVELLS.21.10 Oct 1411.2 -0.52 -1.84 4706500
SUNTV.21.10 Oct 544.55 0.87 -2.16 13480500 HINDPETRO.21.10 Oct 326.35 -0.91 -1.68 18905400

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Unilever Ltd 2646.75 -1.1 1660007 833289 70.96 Nifty Auto 11870 3.43 77922
Icici Lombard General In 1520.35 -0.82 847206 449098 70.7 Nifty Metal 5914.65 1.46 77922
Tata Consultancy Serv Lt 3655.2 0.06 3545655 3799131 66.04 Nifty Energy 24604.4 1.39 77922
Bharat Petroleum Ltd 458.65 0.75 7036361 3588860 65.71 Nifty it 35285.6 1.19 77922
Hdfc Life Insurance Comp 700.9 -0.36 3092746 2115779 65.28 Nifty 50 18161.75 0.94 77922
Torrent Pharma Ltd. 3127.35 0.44 65625 100822 64.82 Nifty Fmcg 41149.4 0.83 77922
City Union Bank Ltd. 168.9 -0.32 2046049 2076714 64.67 Nifty Pharma 14679.4 0.34 77922
Gujgasltd 630.4 1.85 1710420 726446 63.62 Nifty Bank 38635.75 0.3 77922
Icici Prudential Life In 656.8 -0.74 597205 466052 63.4 Nifty Media 2325.85 0.28 77922
Indraprastha Gas Limited 515.5 1.28 5071477 2296872 62.58 Nifty Realty 532.45 -0.24 77922

UPCOMING ECONOMIC DATA

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

INR: Trade Balance (Sep) on 15th October, 2021

•USD: Initial Jobless Claims on 14th October, 2021.

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

NEWS UPDATES

•The rupee on Wednesday rebounded by 15 paise to close at 75.37 (provisional) against the US dollar following a rally in domestic equities and weak American currency in the overseas markets. In addition, lower crude prices also supported the rupee sentiment.

•Benchmark indices closed on Wednesday high in green with auto stocks getting a fillip from the news of TPG Capital funding an EV venture of Tata Motors. Expectations of good showing of IT stocks also helped the markets.

•The Bombay High Court on October 13 decided to hear the Zee Entertainment and Invesco case on October 21. The court asked the company’s largest shareholders Invesco and OFI Global China Fund to file an affidavit by October 20.

•Infosys Q2 results: Consolidated PAT rises 4.3% QoQ, beats estimate; co to pay Rs 15 dividend. Wipro Q2 Result | Profit falls 9.6% to Rs 2,930 crore, firm sees IT services revenue growth at 2-4% in Q3.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BENARAS General;Quarterly Results 14-Oct-21 HCLTECH Interim Dividend;Quarterly Results 14-Oct-21
CENTURYTEX General;Quarterly Results 14-Oct-21 IBREALEST General;Quarterly Results 14-Oct-21
CYIENT Interim Dividend;Quarterly Results 14-Oct-21 INOXWIND Quarterly Results 14-Oct-21
DEN Quarterly Results 14-Oct-21 JOHNPHARMA General;Stock  Split 14-Oct-21
ECORECO Quarterly Results 14-Oct-21 KOHINOOR General 14-Oct-21
ELECTHERM Audited Results;Quarterly Results 14-Oct-21 LLOYDSTEEL Increase in Authorised Capital;Issue Of Warrants;Preferential Issue of shares 14-Oct-21
GAGAN Quarterly Results 14-Oct-21 MAHINDCIE Quarterly Results 14-Oct-21
GANESHHOUC Quarterly Results 14-Oct-21 RADHEDE Quarterly Results 14-Oct-21
GENSOL Bonus issue;General 14-Oct-21 RAINBOWF General 14-Oct-21
GGENG General 14-Oct-21 SHILPAMED Issue Of Warrants;Preferential Issue of shares 14-Oct-21
GOLKONDA Quarterly Results 14-Oct-21 SUPERIOR Quarterly Results 14-Oct-21
GTPL Quarterly Results 14-Oct-21 VIKASLIFE Quarterly Results 14-Oct-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
NORBTEAEXP 14-Oct-21 E.G.M. RCF 20-Oct-21 Final Dividend – Rs. – 1.78
SEVENHILL 14-Oct-21 Stock  Split From Rs.10/- to Rs.1/- ACCELYA 21-Oct-21 Final Dividend – Rs. – 17
SWORDEDGE 14-Oct-21 Stock  Split From Rs.10/- to Rs.1/- BEPL 21-Oct-21 Interim Dividend – Rs. – 1
TCS 14-Oct-21 Interim Dividend – Rs. – 7 HCLTECH 21-Oct-21 Interim Dividend
ZEAL 14-Oct-21 Stock  Split From Rs.10/- to Rs.1/- INEOSSTYRO 21-Oct-21 Special Dividend
AIIL 20-Oct-21 Stock  Split From Rs.10/- to Rs.1/- MAHIP 21-Oct-21 E.G.M.

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