Morning-Outlook-Feature-Image

Outlook-28-09-2021

NIFTY:

The Nifty opened at 17932.20 with a gap up of 79 points. The index first consolidated and recorded its intraday high at 17943.50. Prices then broke that consolidation on the downside. The index has seen a sharp decline, filled the gap up completely, and recorded its intraday low at 17802.90. Prices then again started moving up but that rally fizzled out quickly. The index again saw a consolidation in the last hour of trading and finally closed at 17855.10 almost at Friday’s closing price. The Realty sector continued its outperformance while the Auto also joined and gained 3%. The IT sector underperformed and closed with a loss of 2.88%. FMCG and Pharma also went down and ended with a loss of nearly 1%.

Nifty continued trading choppy and narrow for the second consecutive day. A gap up opening did not sustain, Prices have seen a sharp intraday decline and ended almost flat. Intraday bias was bearish. 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.

BANK NIFTY:

Bank Nifty opened at 38054.75 with a big gap up of 271 points. The index recorded its intraday low at 37968.20 within the first 5 minutes of trading and then rallied further. Prices have seen a sharp up move for the first hour of trading and recorded its intraday high at 38355.20. PSU and Private Banks both have contributed and closed higher by half percent. Within the index, HDFC Bank contributed highest while Indusind Bank the lowest.

Bank Nifty outperformed the benchmark index Nifty as it has closed with gains while the Nifty ended flat. The gains came mainly due to a gap up and then rally till the first hour of trading. The index recorded lifetime new high and crossed the 38000 mark.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
BAJAJ AUTO 3913 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 3870 and for the target 4000
AMARARAJA 762.8 BUY The stock has given a breakout from a narrow trading range. The stock can be sold at CMP with a stop at 755 and for the target 773

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
EXIDE 185 CE BUY 2.8 CMP 1 5.5 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ASHOKLEY.21.09 Sep 130.8 2.47 24.78 50490000 PFIZER.21.09 Sep 5644.5 -1.27 19.84 246125
ONGC.21.09 Sep 140.3 2.82 21.42 49580300 APOLLOHOSP.21.09 Sep 4578.95 -3.43 17.02 2861500
TATACHEM.21.09 Sep 920 4 17.81 8534000 DEEPAKNTR.21.09 Sep 2447.4 -1.43 16.02 2423000
INDHOTEL.21.09 Sep 190 6 16.35 16122600 LT.21.09 Sep 1743.3 -1.37 15.65 11440200
FEDERALBNK.21.09 Sep 81.55 0.99 14.54 84440000 OFSS.21.09 Sep 4569.75 -2.85 14.27 513375
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
AARTIIND.21.09 Sep 937.95 2.46 -19.76 2377450 EICHERMOT.21.09 Sep 2881.05 -1.83 -16.77 3179050
ZEEL.21.09 Sep 320 0.34 -14.66 24576000 IDFCFIRSTB.21.09 Sep 46.9 -0.53 -15.57 122113000
AMARAJABAT.21.09 Sep 766 4.21 -11.68 4312000 APLLTD.21.09 Sep 789.2 -0.36 -12.64 1257850
EXIDEIND.21.09 Sep 182.15 1.48 -10.67 17985600 UBL.21.09 Sep 1555.65 -3.34 -12.6 1170400
TVSMOTOR.21.09 Sep 555.4 3.45 -8.62 4394600 NAVINFLUOR.21.09 Sep 3804.3 -2.47 -12.03 473850

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Icici Prudential Life In 663.65 -1.46 1456389 1081584 72.23 Nifty Auto 10765.15 3.22 88650
Voltas Ltd. 1218.2 -0.86 739560 912666 72.02 Nifty Realty 516.3 2.99 88650
Marico Limited 547.5 -1.77 1578144 2010848 70.97 Nifty Media 2188.45 1.63 88650
Power Grid Corporation o 176 -0.09 3904237 3564744 67.01 Nifty Energy 22006.05 1.33 88650
Ultratech Cement Limited 7622.9 1.35 261520 224826 65.88 Nifty Bank 38171.25 0.9 88650
Icici Bank Ltd. 730 0.98 7712240 7743735 65.73 Nifty Metal 5504.45 0.11 88650
Britannia Ind Ltd. 4009.6 -0.82 248898 242197 64.83 Nifty 50 17855.1 0.01 88650
Oil & Natural Gas Corp 140 2.87 34196564 21776330 64.68 Nifty Fmcg 40720.6 -0.9 88650
Tata Consumer Products l 835.05 -0.2 1433229 1823876 64.08 Nifty Pharma 14156.7 -0.93 88650
Hindustan Unilever Ltd 2709.5 -1.35 1465932 1035955 63.35 Nifty it 36034.4 -2.88 88650

UPCOMING ECONOMIC DATA

  Domestic                                                                                         International
INR: Infrastructure Output YoY Aug on 30th September, 2021

INR: Government Budget Value Aug on 30th September, 2021

•USD: CB Consumer Confidence (Sep) on 28th September, 2021

•USD: Pending Home Sales (MoM) (Aug) on 29th September, 2021

NEWS UPDATES

•Reliance Industries Ltd. is in talks to buy a stake in Indian mobile content provider Glance InMobi Pte, according to people familiar with the matter. The conglomerate is considering investing about $300 million in the unicorn backed by Alphabet Inc.’s Google, the people said, asking not to be identified as the information is private. The transaction could be completed as soon as in the next few weeks, one of the people said.

•The U.S. drug regulator has flagged non-compliance with manufacturing and testing standards at Lupin Ltd.’s Goa facility that caters to the American market for the drugmaker. The formulations or the final drugmaking unit of the Mumbai-based company received seven observations, according to its exchange filing last week. It, however, didn’t disclose details.

•Ratings agency Icra on Monday revised up its 2021-22 real GDP growth estimate for India to 9 per cent from the earlier 8.5 per cent. A ramp-up in COVID-19 vaccination, healthy advance estimates of kharif (summer) crop and faster government spending were the factors which led to the revision, the agency said in a statement.

•Zee Entertainment Ent. said it will take “necessary action as per applicable law” amid demand for the ouster of Managing Director Punit Goenka by two institutional investors. Two investment firms — Invesco Developing Markets Fund (formerly Invesco Oppenheimer Developing Markets Fund) and OFI Global China Fund LLC, which together hold 17.88 per cent stake in ZEEL had earlier this month sought an extraordinary general meeting to remove Goenka and two independent directors Manish Chokhani and Ashok Kurien.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AMTEKAUTO Audited Results 28-Sep-21 SHABCHM A.G.M. 29-Sep-21
PARMCOS-B General 28-Sep-21 SINDHUTRAD Quarterly Results 29-Sep-21
RAGHUSYN General 28-Sep-21 TECHNOFAB Quarterly Results 29-Sep-21
RELCAPITAL General 28-Sep-21 DHANVARSHA General 30-Sep-21
UNISON Bonus issue 28-Sep-21 ESHAMEDIA A.G.M. 30-Sep-21
EIS Voluntary Delisting of Shares 29-Sep-21 HINDEVER Stock  Split 30-Sep-21
GOKULAGRO Preferential Issue of shares 29-Sep-21 RELTD General 30-Sep-21
INDOWIND Right Issue of Equity Shares 29-Sep-21 SANTETX Issue Of Warrants 30-Sep-21
JAYATMA General;Scheme of Arrangement 29-Sep-21 SOFTSOL General 30-Sep-21
KINGSINFR General 29-Sep-21 VAICC A.G.M. 30-Sep-21
PANTH General 29-Sep-21 AMBITION Quarterly Results 01-Oct-21
PBAINFRA General 29-Sep-21 LOHIASEC Amalgamation 01-Oct-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
BAJAJHCARE 28-Sep-21 Final Dividend – Rs. – 0.50 ECLERX 29-Sep-21 Buy Back of Shares
BAJAJHCARE 28-Sep-21 Special Dividend – Rs. – 0.50 GKP 29-Sep-21 Bonus issue 1:1
BAJAJHCARE 28-Sep-21 Stock  Split From Rs.10/- to Rs.5/- CLEDUCATE 30-Sep-21 Stock  Split From Rs.10/- to Rs.5/-
BAJAJHLDNG 28-Sep-21 Interim Dividend – Rs. – 90.00 UNIAUTO 30-Sep-21 Final Dividend – Rs. – 0.50

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