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Outlook-27-09-2021

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

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