NIFTY:
The Nifty opened at 17897.45 with a gap up of 75 points. The index first consolidated and recorded its intraday high at 17947.65. Prices then broke that consolidation on the downside. The index has seen a minor decline and recorded its intraday low at 17819.40. Prices then started moving sideways and remained till its final closing at 17583.20 with a gain of 30.25 points. The Realty sector continued its outperformance for the third consecutive day and ended with a gain of 1.50%. The Metal sector underperformed and closed with a loss of 2.10%. Prices have first consolidated then seen a minor decline and then consolidated again to end on a flat note. The index keeps on recording lifetime new highs and comes very close to the 18000 mark. The short term trend is up. Prices have seen an upside move of more than 500 points this week. Last week was also a wide range. Back to Back wide range week suggests we may see some narrow and choppy movement next week. We have seen some significant increase in Implied Volatility that started cooling off on Friday. A short term support is visible around 17600 while psychological resistance is visible at 18000. A dip towards this support level will give us a buying opportunity for carry forward traders. A close above 18000 will give us a breakout trade on the long side.
BANK NIFTY:
Bank Nifty opened at 37954 with a gap up of 143 points. The index first moved up and recorded its intraday high at 38112.60 almost at its lifetime highs. However prices did not sustain there long enough and saw a sharp decline. Prices have erased all the gains an went into negative territory. The index spends most of its time moving narrow and sideways, recorded its intraday low at 37680 and closed with almost flat. Private Banks continued its outperformance and closed with minor gains. PSU Banks have underperformed. HDFC Bank contributed highest while Axis Bank the lowest.
TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| GRASIM | 1629.75 | 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 1670 |
| ICICIBANK | 722.95 | BUY | The stock has given a breakout from a narrow trading range. The stock can be sold at CMP with a stop at 710 and for the target 740 |
DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| MARUTI | 7000 CE | BUY | 85.9 | CMP | 53 | 130 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| BHARTIARTL.21.09 Sep | 741.6 | 2.33 | 17.54 | 63298647 | IPCALAB.21.09 Sep | 2406.6 | -3 | 10.58 | 312750 | |
| ASTRAL.21.09 Sep | 2127.25 | 0.67 | 9.63 | 435050 | MANAPPURAM.21.09 Sep | 172 | -1.15 | 9.57 | 20676000 | |
| MCX.21.09 Sep | 1657 | 1.37 | 8.34 | 1981350 | COROMANDEL.21.09 Sep | 805 | -0.48 | 8.69 | 1711250 | |
| PAGEIND.21.09 Sep | 33740.05 | 1.71 | 6.48 | 88740 | PFC.21.09 Sep | 135.15 | -2.52 | 8.02 | 24477600 | |
| ICICIBANK.21.09 Sep | 721.6 | 0.45 | 5.77 | 79074875 | MOTHERSUMI.21.09 Sep | 225.15 | -1.36 | 7.43 | 32182500 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI% | OI | Stocks | Price | Price % | OI % | OI | |
| IDEA.21.09 Sep | 11.5 | 8.49 | -4.97 | 487200000 | FINNIFTY.21.09 Sep | 18592.05 | -0.14 | -26.09 | 2720 | |
| IRCTC.21.09 Sep | 3713.75 | 0.2 | -4.65 | 1480375 | POLYCAB.21.09 Sep | 2412 | -0.96 | -8.08 | 546000 | |
| ABFRL.21.09 Sep | 224 | 2.05 | -4.48 | 11645400 | BANKNIFTY.21.09 Sep | 37815.05 | -0.12 | -7.16 | 1601200 | |
| LTTS.21.09 Sep | 4848 | 1.51 | -2.24 | 549600 | DIXON.21.09 Sep | 4375.9 | -0.75 | -6.77 | 427125 | |
| HDFC.21.09 Sep | 2828 | 0.33 | -1.02 | 10446900 | SRF.21.09 Sep | 10992.05 | -0.14 | -6.71 | 649500 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Colgate Palmolive (india | 1690.85 | -0.63 | 413927 | 476724 | 71.7 | Nifty Realty | 501.3 | 105585 | 1.5 | |
| Marico Limited | 557.35 | -1.67 | 2833374 | 1841221 | 71.32 | Nifty it | 37103.25 | 105585 | 0.78 | |
| Tata Consultancy Serv Lt | 3871.3 | 0.05 | 2320754 | 1396484 | 69.69 | Nifty Auto | 10429.05 | 105585 | 0.54 | |
| Tata Consumer Products l | 836.75 | -1.63 | 2846056 | 1015900 | 69.38 | Nifty 50 | 17853.2 | 105585 | 0.17 | |
| Britannia Ind Ltd. | 4042.9 | 0.01 | 373614 | 215736 | 66.82 | Nifty Bank | 37830.3 | 105585 | 0.16 | |
| Power Grid Corporation o | 176.15 | -1.18 | 5320059 | 5156736 | 66.78 | Nifty Media | 2153.25 | 105585 | -0.64 | |
| Infosys Limited | 1763.85 | 1.22 | 8280446 | 2542806 | 66.46 | Nifty Pharma | 14289.15 | 105585 | -0.64 | |
| Asian Paints Limited | 3448.6 | 3.85 | 2775975 | 448220 | 64.52 | Nifty Energy | 21716.45 | 105585 | -0.81 | |
| Godrej Cons Products Ltd | 1041.65 | -1.55 | 1191536 | 550387 | 64.4 | Nifty Fmcg | 41090.9 | 105585 | -1.1 | |
| Hdfc Bank Ltd. | 1601.55 | 2.01 | 10403351 | 4366722 | 63.91 | Nifty Metal | 5498.2 | 105585 | -2.1 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Infrastructure Output YoY Aug on 30th September, 2021
INR: Government Budget Value Aug on 30th September, 2021 |
•USD: Core Durable Goods Orders (MoM) (Aug) on 27th September, 2021
•USD: CB Consumer Confidence (Sep) on 28th September, 2021 |
NEWS UPDATES
| •The Competition Commission of India (CCI) has found three beer companies – United Breweries Limited (UBL), Anheuser Busch InBev India Ltd. and Carlsberg India Private Limited (‘CIPL’) – to be indulging in cartelisation of beer prices in the country and imposed huge penalties. As per the statement, the antitrust body has directed UBL and CIPL to pay penalties to the tune of ₹750 crores and ₹120 crores respectively, besides passing a cease-and-desist order.
•Telecom Department has approached TRAI seeking its recommendations on pricing, quantum and other modalities pertaining to radiowaves in multiple bands as it prepares the groundwork for holding 5G spectrum auction in the coming months. The last round of spectrum auction, held in March this year, had raked-in winning bids of over Rs 77,800 crore for 855.6 MHz of spectrum. •Tata Motors said its electric vehicles have achieved a cumulative sales milestone of 10,000 units. Tata Motors had entered the electric vehicle space with Tigor EV as a fleet offering, and expanded to the personal segment with the launch of Nexon EV in January 2020. “Tata Motors has recorded a remarkable feat of on-boarding its 10,000th EV customer,” the company said in a release. •Nucleus Software proposes to buy-back upto 22,67,400 Equity Shares comprising of 7.81% of the total paid-up equity capital of the Company, from the equity shareholders of the Company as on the record date, at a price of Rs.700/- (Rupees Seven Hundred Only) per Equity Shares. Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| CORALAB | General | 27-Sep-21 | PBAINFRA | General | 29-Sep-21 |
| DHRUVES | General | 27-Sep-21 | SHABCHM | A.G.M. | 29-Sep-21 |
| PHYTO | General | 27-Sep-21 | SINDHUTRAD | Quarterly Results | 29-Sep-21 |
| PREMIERPOL | General | 27-Sep-21 | TECHNOFAB | Quarterly Results | 29-Sep-21 |
| AMTEKAUTO | Audited Results | 28-Sep-21 | ESHAMEDIA | A.G.M. | 30-Sep-21 |
| PARMCOS-B | General | 28-Sep-21 | HINDEVER | Stock Split | 30-Sep-21 |
| RAGHUSYN | General | 28-Sep-21 | RELTD | General | 30-Sep-21 |
| RELCAPITAL | General | 28-Sep-21 | SOFTSOL | General | 30-Sep-21 |
| UNISON | Bonus issue | 28-Sep-21 | VAICC | A.G.M. | 30-Sep-21 |
| EIS | Voluntary Delisting of Shares | 29-Sep-21 | AMBITION | Quarterly Results | 01-Oct-21 |
| KINGSINFR | General | 29-Sep-21 | LOHIASEC | Amalgamation | 01-Oct-21 |
| PANTH | General | 29-Sep-21 | UNIAUTO | Bonus issue;Increase in Auth. Capital | 01-Oct-21 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| BHARTIARTL | 27-Sep-21 | Right Issue of Equity Shares | GKP | 29-Sep-21 | Bonus issue 1:1 |
| COSMOFILMS | 27-Sep-21 | Interim Dividend – Rs. – 25.00 | CLEDUCATE | 30-Sep-21 | Stock Split From Rs.10/- to Rs.5/- |
| GALACTICO | 27-Sep-21 | Bonus issue 1:1 | UNIAUTO | 30-Sep-21 | Final Dividend – Rs. – 0.50 |
| INDOBORAX | 27-Sep-21 | Stock Split From Rs.10/- to Rs.1/- | DCMSRMIND | 08-Oct-21 | Stock Split From Rs.10/- to Rs.2/- |
| BAJAJHCARE | 28-Sep-21 | Stock Split From Rs.10/- to Rs.5/- | ASIANTILES | 11-Oct-21 | Final Dividend – Rs. – 0.50 |
| BAJAJHCARE | 28-Sep-21 | Final Dividend – Rs. – 0.50 | LANCER | 13-Oct-21 | Bonus issue 2:1 |
| BAJAJHCARE | 28-Sep-21 | Special Dividend – Rs. – 0.50 | HCLTECH | 21-Oct-21 | Interim Dividend |
| BAJAJHLDNG | 28-Sep-21 | Interim Dividend – Rs. – 90.00 | PGHL | 02-Nov-21 | Final Dividend – Rs. – 40.00 |
| ECLERX | 29-Sep-21 | Buy Back of Shares | PGHL | 02-Nov-21 | Special Dividend – Rs. – 90.00 |
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