Morning-Outlook-Feature-Image
Outlook-21-10-2021

NIFTY:

The Nifty opened at 18439.90 with a gap up of just 21 points. Prices have first moved down and then quickly returned to record its intraday high at 18458.30. Bullish momentum fades out there and prices have started drifting downwards. A sharp decline of almost 240 points and prices have recorded its intraday low at 18209.35. Prices have seen minor upward correction in the last hour of trading and finally closed at 18266.6 with a loss of 152 points. All the sectoral indices have closed lower except Media. Realty and Metal have led the bears and ended with a loss of more than 2%.

Nifty opened on a flat note but saw a sharp intraday decline to close lower nearly 1%. Correction continued for the second consecutive trading day. Indices extended its downwards rally and were trading near days low. The correction made an attempt to hold 18200 which is acting as a short term support. If market is unable to sustain the level of 18200, it can witness correction till 17900-18000.

BANK NIFTY:

Bank Nifty opened at 39545.45 without much of a gap. The index first moved down and recorded its intraday low at 39292.8. Prices then started moving higher and recorded its intraday high at 39774.75. A consolidation begun afterwards and that broke on the downside. The index finally closed at 39518. PSU Banks have significantly outperformed and closed with a gain of 1.54%. Private Banks have drifted downwards and ended with a loss of 0.21%. Within the index, SBIN contributed highest while HDFC Bank the lowest.

Bank nifty continued trading volatile for the third consecutive day. The index has seen a plenty of sharp intraday moves in both the directions and ended on a flat note. A resistance is now visible around 40000 and support is visible around 38500.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
BHARTI AIRTEL 708.45 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 699 and for the target 720
ZEEL 320.0 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 313 and for the target 335

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
AXIS BANK 810 CE BUY 22.4 CMP 17 30 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
INDUSTOWER.21.10 Oct 305 3.18 45.88 17519600 FINNIFTY.21.10 Oct 18945 -0.64 353.85 2360
PERSISTENT.21.10 Oct 4226.95 0.61 18.42 325050 JKCEMENT.21.10 Oct 3202.1 -3.62 37.02 112700
METROPOLIS.21.10 Oct 2848.9 3.93 13.9 671800 VOLTAS.21.10 Oct 1253.2 -3.74 27.06 2361500
TECHM.21.10 Oct 1546.85 0.51 8.52 11723400 ICICIPRULI.21.10 Oct 635.3 -3.97 22.21 5851500
ZEEL.21.10 Oct 326.55 5.15 7.4 68316000 NAVINFLUOR.21.10 Oct 3542.75 -8.45 20.4 914850
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
BANKNIFTY.21.10 Oct 39677.3 0.11 -7.48 1590575 IRCTC.21.10 Oct 4403.65 -20.69 -19.39 1940575
CONCOR.21.10 Oct 678.95 1.76 -2.19 8247951 GODREJPROP.21.10 Oct 2325 -2.67 -10 1907100
MINDTREE.21.10 Oct 4786.15 0.6 -2.12 2581200 NIFTY.21.10 Oct 18320 -0.61 -7.15 11143800
IDEA.21.10 Oct 10.7 7 -1.37 775250000 HINDALCO.21.10 Oct 515.45 -3.27 -6.75 23839200
LTI.21.10 Oct 6970 1.58 -1.12 634800 NTPC.21.10 Oct 147.1 -1.64 -6.6 64752000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hdfc Ltd. 2795.1 -0.98 2106814 1417438 71.07 Nifty Media 2334.45 1.03 98616
Max Financial Services l 979.5 -0.15 2492736 1055895 70.55 Nifty Bank 39518.2 -0.06 98616
Dr. Reddys Lab Ltd 4753.9 -1 316097 363273 67.31 Nifty it 36846.8 -0.7 98616
Icici Lombard General In 1504.4 -1.62 844842 453817 67.25 Nifty 50 18266.6 -0.83 98616
Titan Company Limited 2411.4 -2.96 2868983 2335354 65.86 Nifty Auto 11493.3 -1.15 98616
Power Grid Corporation o 194.35 -2.16 16432451 7815881 64.43 Nifty Fmcg 39696.35 -1.34 98616
Crompton Greaves Consume 454.2 -2.46 2265457 1560199 62.74 Nifty Pharma 14177.35 -1.44 98616
Bharat Petroleum Ltd 441.1 -2.64 6543463 3363623 62.26 Nifty Energy 24381.85 -1.63 98616
Lupin Limited 929.65 -0.93 1305385 1055177 61.99 Nifty Metal 5974 -2.06 98616
Infosys Limited 1802.35 -1.09 5876115 6341209 61.42 Nifty Realty 504.95 -2.16 98616

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: Philadelphia Fed Manufacturing Index (Oct) on 21st October, 2021

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

NEWS UPDATES

•Vodafone Idea on Wednesday said that its board has opted for India’s telecom department’s four-year spectrum payment moratorium from October 2021 to September 2025. It is the first telco to accept the portion under Department of Telecom’s recently launched telecom relief package.

•Mahindra on Wednesday clocked 65000 bookings for the XUV700 in two weeks since its launch on October 7. The deliveries for the petrol variants will start from 30 October and diesel variant deliveries will begin from the last week of November.  The bookings for the XUV700 SUV began on 7 October when the company received a total of 25,000 bookings in under an hour. On 8 October, the company received another 25,000 bookings in 2 hours.

•Crisis-hit YES Bank has shown remarkable progress after its management was taken by the clutch of investors led by State Bank of India (SBI) last year and may take two more years to stabilise, said former SBI chairman Rajnish Kumar.

•Jubilant Foodworks Ltd on Wednesday reported 58.11 per cent jump in consolidated net profit at Rs 119.82 crore for the second quarter ended September 30, 2021 aided by higher sales. The company, which operates popular fast food chains such as Domino’s Pizza and Dunkin’ Donuts among others in India, had posted a profit of Rs 75.78 crore in the same period last fiscal year, Jubilant Foodworks Ltd (JFL) said in a regulatory filing.

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

NEWS UPDATES

•Vodafone Idea on Wednesday said that its board has opted for India’s telecom department’s four-year spectrum payment moratorium from October 2021 to September 2025. It is the first telco to accept the portion under Department of Telecom’s recently launched telecom relief package.

•Mahindra on Wednesday clocked 65000 bookings for the XUV700 in two weeks since its launch on October 7. The deliveries for the petrol variants will start from 30 October and diesel variant deliveries will begin from the last week of November.  The bookings for the XUV700 SUV began on 7 October when the company received a total of 25,000 bookings in under an hour. On 8 October, the company received another 25,000 bookings in 2 hours.

•Crisis-hit YES Bank has shown remarkable progress after its management was taken by the clutch of investors led by State Bank of India (SBI) last year and may take two more years to stabilise, said former SBI chairman Rajnish Kumar.

•Jubilant Foodworks Ltd on Wednesday reported 58.11 per cent jump in consolidated net profit at Rs 119.82 crore for the second quarter ended September 30, 2021 aided by higher sales. The company, which operates popular fast food chains such as Domino’s Pizza and Dunkin’ Donuts among others in India, had posted a profit of Rs 75.78 crore in the same period last fiscal year, Jubilant Foodworks Ltd (JFL) said in a regulatory filing.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
20MICRONS Quarterly Results 21-Oct-21 INDHOTEL Quarterly Results;Rights Issue 21-Oct-21
63MOONS Quarterly Results 21-Oct-21 INDIAMART Quarterly Results 21-Oct-21
ASIANPAINT Interim Dividend;Quarterly Results 21-Oct-21 INDUSINDBK General 21-Oct-21
ATFL Quarterly Results 21-Oct-21 JSWSTEEL Quarterly Results 21-Oct-21
BIOCON General;Quarterly Results 21-Oct-21 JUBLINDS Quarterly Results 21-Oct-21
BORORENEW Quarterly Results 21-Oct-21 LEMONTREE General;Quarterly Results 21-Oct-21
BPCL Amalgamation;General 21-Oct-21 LICHSGFIN General;Quarterly Results 21-Oct-21
CANFINHOME General;Quarterly Results 21-Oct-21 LODHA General;Quarterly Results 21-Oct-21
CGPOWER Quarterly Results 21-Oct-21 MPHASIS Audited Results 21-Oct-21
CIGNITI Quarterly Results 21-Oct-21 RANEENGINE Quarterly Results 21-Oct-21
CONCOR Interim Dividend;Results 21-Oct-21 SOUTHBANK Quarterly Results 21-Oct-21
HERITGFOOD Interim Dividend;Quarterly Results 21-Oct-21 STLTECH Quarterly Results 21-Oct-21
ICICIGI Audited Results;Interim Dividend 21-Oct-21 TANLA Quarterly Results 21-Oct-21
IDBI Quarterly Results 21-Oct-21 TRIDENT Interim Dividend;Quarterly Results 21-Oct-21
IEX Bonus issue;Quarterly Results 21-Oct-21 TVSMOTOR Quarterly Results 21-Oct-21
IIFLSEC Quarterly Results 21-Oct-21 VSTIND Quarterly Results 21-Oct-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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/-
MINDTREE 21-Oct-21 Interim Dividend – Rs. – 10.00 INDOUS 22-Oct-21 E.G.M.
MISHTANN 21-Oct-21 Interim Dividend – Rs. – 0.0020 INEOSSTYRO 22-Oct-21 Special Dividend – Rs. – 192.00

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