Morning-Outlook-Feature-Image

Outlook-20-10-2021

NIFTY:

The Nifty opened at 18602.35 with a gap up of 125 points. Prices first consolidated and then broke on the downside. The index filled the gap up and then drifted further on the downside. The decline was very sharp and prices bounced up immediately and rallied to almost its opening tick which was also the intraday high. The rally fizzled out after a consolidation in the afternoon. Prices have seen another sharp decline in the second half and recorded its intraday low at 18377.70. The index finally closed at 18418.75 with a loss of 58.30 points. The IT sector was outshone and ended with a gain of 2.20%. The Realty sector was the biggest underperformer and ended with a loss of 4.74%. FMCG and Metal also contributed on the downside.

A gap up opening did not sustain. The index continued trading volatile intraday. The Nifty broke seven days of higher closing streak despite making lifetime new highs above 18600

BANK NIFTY:

Bank Nifty opened at 3927.30 with a gap up of 264 points, The index first consolidated and recorded its intraday high at 40011.15. Prices have seen a sharp intraday decline and recorded its intraday low at 39394.25. the index bounced up, rallied in the afternoon and then again slid down to close with a loss of more than 100 points. PSU Banks have significantly underperformed and closed with a loss of 3.73%. Private Banks also drifted down and ended with a loss of 0.47%. Within the index, Kotak Bank contributed highest while IDFC First the lowest.

Bank Nifty continued to trade volatile. A gap up opening, then down almost 700 points and then rallied 500 points and then again moved down 500 points.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
OFSS 4944 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 4860 and for the target 5100
ZEEL 309.2 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 304 and for the target 318

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
KOTAK BANK 2040 CE BUY 51 CMP 41 75 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
PERSISTENT.21.10 Oct 4223 2.11 36.53 369450 JKCEMENT.21.10 Oct 3331.45 -3.45 30.75 121275
OFSS.21.10 Oct 4930 4.04 28.2 923875 POLYCAB.21.10 Oct 2368.55 -4.98 23.69 1334400
MANAPPURAM.21.10 Oct 198.7 0.33 22.58 22314000 IRCTC.21.10 Oct 5011.9 -15 23.22 2530125
PAGEIND.21.10 Oct 38300.1 1.6 19.69 112140 BANDHANBNK.21.10 Oct 315.2 -5.27 19.22 21222000
IEX.21.10 Oct 847.65 5.82 18.05 12532500 TATAPOWER.21.10 Oct 226 -12.67 18.83 1.05E+08
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
M&MFIN.21.10 Oct 189.9 1.17 -7.18 21356000 NATIONALUM.21.10 Oct 114.5 -6.3 -7.65 85952000
LTI.21.10 Oct 6890 17.13 -6.82 710700 IOC.21.10 Oct 133.6 -2.12 -5.01 32545500
HDFCBANK.21.10 Oct 1684.7 1.08 -5.44 30928150 INDIACEM.21.10 Oct 205.95 -6.13 -4.88 10115200
NAM-INDIA.21.10 Oct 458 1.16 -3.68 3140800 SYNGENE.21.10 Oct 610.75 -0.52 -4.52 1793500
METROPOLIS.21.10 Oct 2727.3 0.67 -3.6 594600 AMARAJABAT.21.10 Oct 712.05 -2.12 -4.34 8942000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hcl Technologies Ltd. 1232.1 0.88 10189780 16805980 70.43 Nifty it 37106.35 2.2 79473
Hindustan Unilever Ltd 2546.8 -4.04 5431133 1219438 69.36 Nifty 50 18418.75 -0.32 79473
Infosys Limited 1822.15 1.67 10324260 9274584 69.02 Nifty Bank 39540.5 -0.36 79473
Ntpc Limited 149.65 0.07 20234486 17270137 68.14 Nifty Media 2310.65 -1 79473
Crompton Greaves Consume 465.65 -1.56 2486768 698298 67.48 Nifty Energy 24785.65 -1.44 79473
Tata Consultancy Serv Lt 3634.15 -0.36 3135441 2407286 67.05 Nifty Pharma 14384.35 -1.46 79473
Dalmia Bharat Limited 2035.65 -2.34 284002 345867 66.93 Nifty Auto 11626.85 -1.59 79473
Icici Lombard General In 1529.2 0.64 674830 341867 66.13 Nifty Metal 6099.35 -2.46 79473
Alkem 3842.15 -0.5 102417 98907 65.9 Nifty Fmcg 40237.3 -3.19 79473
Power Grid Corporation o 198.65 -2.53 12130633 18371344 63.55 Nifty Realty 516.1 -4.74 79473

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Bank Loan Growth and Deposit Growth on 22nd October, 2021

INR: FX Reserves, USD  on 22nd October, 2021

•USD: Crude Oil Inventories on 20th October, 2021

•USD: Initial Jobless Claims on 21st October, 2021

NEWS UPDATES

•Private sector lender Axis Bank on Tuesday announced waiver of 12 EMIs on select home loan products, and discounts on various online purchases as part of its festival offer. Axis Bank is offering waivers of 12 EMIs on select home loan products and providing on-road finance without any processing fee for two-wheeler customers, it said in a release.

•Shares of Indian Railway Catering and Tourism Corporation (IRCTC) witnessed a sudden slump of ₹1,400 or 15% towards close to ₹4,995 per share in Tuesday’s trading session after hitting a record high in early deals. The stock closed at ₹5,363 apiece, down more than 8%. IRCTC shares had hit a record high of ₹6,393, gaining over 7% with its market capitalization crossing ₹1 trillion in early deals.

•Hindustan Unilever reported a standalone net profit of ₹2,187 crore for the September quarter, an increase of 9% from ₹2,009 crore reported in the same quarter last year. On a sequential basis, the profit after tax (PAT) grew 6% from ₹2,061 crore in the June quarter.

•Nestle India on Tuesday announced its financial results for the July-September quarter (Q3), in which the company recorded 5 per cent growth in net profit at Rs 617 crore vs Rs 538 crore in the same period a year ago. Nestle follows the January-December financial year system. Nestle India reported the total sales growth at 9.6 per cent to Rs 3,864 crore for Q3 FY22 vs Rs 3,525 crore in Q3 FY21. The domestic sales growth stood at 10.1 per cent. Its overall growth is broad-based and largely driven by volume and mix, the company said in a stock exchange statement.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ANGELBRKG Interim Dividend;Quarterly Results 20-Oct-21 RIIL Quarterly Results 20-Oct-21
ASL Quarterly Results 20-Oct-21 RML Quarterly Results 20-Oct-21
BHARATGEAR Right Issue of Equity Shares 20-Oct-21 SEACOAST General;Quarterly Results 20-Oct-21
DEEP Quarterly Results 20-Oct-21 SHOPERSTOP Quarterly Results 20-Oct-21
DHANI Preferential Issue of shares 20-Oct-21 SNOWMAN Quarterly Results 20-Oct-21
HATHWAY Quarterly Results 20-Oct-21 SUPPETRO Interim Dividend;Quarterly Results 20-Oct-21
HAVELLS Interim Dividend;Quarterly Results 20-Oct-21 SURYALAXMI Quarterly Results 20-Oct-21
JUBLFOOD Quarterly Results 20-Oct-21 SYNGENE Quarterly Results 20-Oct-21
JUSTDIAL General;Quarterly Results 20-Oct-21 TAJGVK Quarterly Results 20-Oct-21
L&TFH Quarterly Results 20-Oct-21 TATACOMM Quarterly Results 20-Oct-21
MAYUKH Quarterly Results 20-Oct-21 TATASTLLP Audited Results;Quarterly Results 20-Oct-21
MENONBE Interim Dividend;Quarterly Results 20-Oct-21 TEJASNET Quarterly Results 20-Oct-21
MFSINTRCRP General;Quarterly Results 20-Oct-21 TINNARUBR Quarterly Results 20-Oct-21
MOSCHIP Quarterly Results 20-Oct-21 TTL Quarterly Results 20-Oct-21
NAVIGANT Half Yearly Results 20-Oct-21 WANBURY Quarterly Results 20-Oct-21
RELICTEC Quarterly Results 20-Oct-21 ZGAEKWAR A.G.M.;General 20-Oct-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
AIIL 20-Oct-21 Stock  Split From Rs.10/- to Rs.1/- MINDTREE 21-Oct-21 Interim Dividend – Rs. – 10.00
RCF 20-Oct-21 Final Dividend – Rs. – 1.7800 MISHTANN 21-Oct-21 Interim Dividend – Rs. – 0.0020
ACCELYA 21-Oct-21 Final Dividend – Rs. – 17.00 RKFORGE 21-Oct-21 Interim Dividend – Rs. – 0.50
BEPL 21-Oct-21 Interim Dividend – Rs. – 1.00 STARHFL 21-Oct-21 E.G.M.
HCLTECH 21-Oct-21 Interim Dividend – Rs. – 10.00 TEXRAIL 21-Oct-21 Right Issue of Equity Shares
MAHIP 21-Oct-21 E.G.M. VISHWARAJ 21-Oct-21 Stock  Split From Rs.10/- to Rs.2/-

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