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Outlook-01-10-2021

NIFTY:

The Nifty opened at 17718.9 without much of a gap. Prices have moved very volatile in the first half and remained range bound. In this process prices have recorded its intraday high at 17742.15. The consolidation broke on the downside in the afternoon and prices have seen a sharp decline of more than 150 points in the second half. The volatile movement continued in the second half as well. Prices have recorded its intraday low at 17585.35 and finally closed at 17618.15 with a loss of 93.15 points. The Realty and Pharma sectors have outperformed and closed higher by 1.47% and 0.43% respectively. Banks, Metal and IT contributed most on the downside. Nifty ended lower for the third consecutive day and prices have continued moving volatile. Prices have seen a consolidation in the first half while sharp decline in the second half and finally closed near its day low. We have identified support around 17600 in the Nifty. The index is holding this support for the last three day and the index closed almost at the support. This level is now acting as a make it or break it level.

If the index holds this support then we may see a rally towards the lifetime highs around 17950. However a breakdown from this support may lead prices to its next support level which is visible around 17300.

BANK NIFTY:

The Bank Nifty opened at 37677.80 with a gap down of 64 points. The initially went down but soon started moving on the upside. Prices have recorded its intraday high at 37884.85 and then started moving down again. A decline brought prices to its intraday low at 37354.25 and closed with a loss of more than 300 points. Federal Bank contributed highest while Axis bank the lowest. Bank Nifty moved very volatile and the intraday range was also very narrow.

The index is finding short term support around 37300.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
DLF 417.2 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 415 and for the target 425
GRANULES 320 SELL The stock has given a breakdown from a narrow trading range. The stock can be sold at CMP with a stop at 325 and for the target 310

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
IGL 540 CE BUY 28.3 CMP 24 34 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
HINDUNILVR.21.09 Sep 2703.4 0.54 51.93 4035000 MOTHERSUMI.21.09 Sep 227.2 -1.11 71.48 20454000
TRENT.21.09 Sep 1033 2.4 49.07 1101275 PAGEIND.21.09 Sep 31797.6 -1.81 60.36 37140
TITAN.21.09 Sep 2150.8 0.11 44.12 2590875 BHARATFORG.21.09 Sep 734.75 -1.35 45.42 3145500
SIEMENS.21.09 Sep 2128.1 0 34.24 530475 CIPLA.21.09 Sep 980.55 -0.42 45.08 9030450
BAJFINANCE.21.09 Sep 7677.9 1.9 31.66 1375500 MARUTI.21.09 Sep 7293.8 -1.2 44.05 1355200
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
DIXON.21.09 Sep 4633.65 4.25 -51.26 62875 FINNIFTY.21.09 Sep 18260.65 -0.83 -66.67 680
VOLTAS.21.09 Sep 1222.85 1.32 -49.34 405000 ICICIGI.21.09 Sep 1592.85 -0.03 -66.54 180625
GODREJPROP.21.09 Sep 2312.55 0.02 -46.95 304850 METROPOLIS.21.09 Sep 2693.1 -0.82 -55.01 35000
ALKEM.21.09 Sep 3968.4 0.55 -27.78 26000 GRANULES.21.09 Sep 318.2 -1.39 -52.36 1047800
CANFINHOME.21.09 Sep 688 5.14 -25.66 547950 TVSMOTOR.21.09 Sep 550.15 -0.36 -49.27 436800

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hdfc Ltd. 2754.3 0.29 4186802 2493615 74.81 Nifty Realty 513.8 1.47 102597
Hdfc Life Insurance Comp 722.4 -1.68 3235673 3878728 74.59 Nifty Pharma 14466.5 0.43 102597
Axis Bank Limited 766.55 -1.99 9178187 10315275 72.43 Nifty Energy 22858.55 -0.03 102597
Tech Mahindra Limited 1380.6 -1.06 3856630 5548492 69.81 Nifty Fmcg 40426.55 -0.11 102597
Indraprastha Gas Limited 533.1 2.79 3878320 3394648 68.61 Nifty 50 17618.15 -0.53 102597
Alkem 3980.75 1.14 114702 452827 68.3 Nifty Auto 10598.45 -0.54 102597
Hdfc Bank Ltd. 1594.95 0.07 7987674 5400885 66.42 Nifty it 35028 -0.72 102597
Hindustan Unilever Ltd 2701.8 0.61 1620199 998751 66.41 Nifty Bank 37425.1 -0.84 102597
Sbi Life Insurance Compa 1215.1 0.76 1234882 1063891 65.55 Nifty Metal 5611.25 -0.88 102597
Infosys Limited 1675.2 -1.01 6914031 5097015 65.41 Nifty Media 2138.3 -0.91 102597

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Nikkei Markit Manufacturing PMI (Sep) on 1st October, 2021

INR: FX Reserves, USD on 1st October, 2021

•USD: ISM Manufacturing PMI (Sep) on 1st October, 2021

•USD: Factory Orders (MoM) (Aug) on 4th October, 2021

NEWS UPDATES

•The National Company Law Tribunal (NCLT) on Thursday said Zee Entertainment should consider shareholders’ request to hold an extraordinary general meeting (EGM). A news channel reported that NCLT will hear the matter again on October 4. NCLT directed Zee Entertainment Enterprises to hold board meet to consider Invesco’s plea for shareholders’ meet. Communicate decisions appropriately to shareholders after board meet, NCLT told Zee.

•Bharti Airtel’s subsidiary Nxtra on Thursday said it will invest Rs 5,000 crore to triple its data centre capacity by 2025. The company will set up 7 hyperscale campuses and increase the share of green power in running data centres to 50 per cent from 35 per cent at present.”We are making a fresh investment of Rs 5,000 crore to expand our data centres.

•Zydus Cadila’s Covid-19 DNA vaccine will soon be introduced as part of the country’s inoculation drive, said Union health secretary Rajesh Bhushan on Thursday. He further said that the vaccine will be priced differently than jabs being used currently and talks are being held with the manufacturer on its pricing.

•The union government’s fiscal deficit in April-August, the first five months of the financial year, stood at ₹4.68 lakh crore, or 31.1% of the budgeted target for the whole year, government data showed on Thursday. The government has received ₹8.08 lakh crore, about 41% of Budget estimates till August. This also includes ₹6.44 lakh crore in tax revenue, ₹1.48 lakh crore in non-tax revenue.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AMBITION Quarterly Results 01-Oct-21 CALCOM Quarterly Results 04-Oct-21
APIL Preferential Issue of shares 01-Oct-21 DSSL General 04-Oct-21
DIVYAJYQ A.G.M. 01-Oct-21 GANESHBE General 04-Oct-21
GRINFRA General 01-Oct-21 MANINFRA Bonus issue;Interim Dividend 04-Oct-21
KEDIACN General 01-Oct-21 TPINDIA A.G.M. 04-Oct-21
LOHIASEC Amalgamation 01-Oct-21 BETALA Quarterly Results 05-Oct-21
MCCHRLS-B General 01-Oct-21 BMBMUMG General 05-Oct-21
NETTLINX General 01-Oct-21 GARNETINT General 05-Oct-21
SUDTIND-B Increase in Auth. Capital;General 01-Oct-21 QGO General 05-Oct-21
UNIAUTO Bonus issue;Increase in Auth. Capital 01-Oct-21 STARHFL Preferential Issue of shares 05-Oct-21
VIKASWSP Quarterly Results 01-Oct-21 ASITCFIN General 06-Oct-21
BODHTREE General 04-Oct-21 RACE General 06-Oct-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ALPHALOGIC 05-Oct-21 Stock  Split From Rs.10/- to Rs.5/- ASIANTILES 11-Oct-21 Final Dividend – Rs. – 0.5000
ANUPAM 06-Oct-21 Stock  Split From Rs.10/- to Rs.1/- ADVITIYA 13-Oct-21 Bonus issue 44:10
AFFLE 07-Oct-21 Stock  Split From Rs.10/- to Rs.2/- JTLINFRA 13-Oct-21 Stock  Split From Rs.10/- to Rs.2/-
INDSOYA 07-Oct-21 Stock  Split From Rs.10/- to Rs.5/- LANCER 13-Oct-21 Bonus issue 2:1
UNISON 07-Oct-21 Bonus issue 4:1 SRF 13-Oct-21 Bonus issue 4:1
DCMSRMIND 08-Oct-21 Stock  Split From Rs.10/- to Rs.2/- NORBTEAEXP 14-Oct-21 E.G.M.

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