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Outlook-29-09-2021

NIFTY:

The nifty opened at 17906.45 with a gap up of 51 points. The index did not sustain there and started drifting downwards after recording its intraday high at 17912.85. A sharper down move came in the afternoon and the index recorded its intraday low at 17576.10. After that the index started moving on the downside. Prices rose almost 100 points in the last hour of trading and finally closed at 17748.60 with a loss of 106.5 points. The Realty sector underperformed and ended with a loss of more than 3% together with the IT sector that ended 2.20% lower. Metal and Pharma outperformed and ended with some gains.

The last two days were very narrow in the Nifty which led the index to a wide range day. A gap up opening did not sustain. Prices have first seen a decline of more than 300 points and then some recovery of almost 100 points. The index got nervous around a psychological level of 18000 and fell. We should look at the decline as a correction of an on going up move. Prices have moved very volatile and are likely to continue that movement till the Expiry on 30th September.

BANK NIFTY:

Bank Nifty opened at 38360 with a gap up of 189 points. The index recorded its intraday high at 38377.25 within the first 5 minutes of trading and then started moving down. A sharp downside move brought prices to its intraday low at 37315.20. Prices have seen a sharp up move afterwards and closed with a loss of about 300 points.

PSU Banks have outperformed and closed with a gain of 1.24%. On the other hand, Private Banks have underperformed and closed lower by 0.74%. Within the index, Kotak Bank contributed highest while ICICI Bank the lowest. Bank Nifty moved in a wide range and ended with a loss. A gap up opening did not sustain. Prices have seen a sharp intraday decline of more than 1000 points and then a rally of more than 500 points.



TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
SUNPHARMA 775 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 760 and for the target 800
HINDPETRO 291.6 BUY The stock has given a breakout from a narrow trading range. The stock can be sold at CMP with a stop at 285 and for the target 300

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
SBIN 450 CE BUY 3.15 CMP 1 6 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
SIEMENS.21.09 Sep 2105 0.24 35.66 2027575 MPHASIS.21.09 Sep 3151 -2.21 35.85 1390350
ONGC.21.09 Sep 141.6 0.85 28.42 50666000 FEDERALBNK.21.09 Sep 81.1 -0.61 22.62 67060000
GODREJCP.21.09 Sep 1054.1 1.37 20.66 4941000 SHREECEM.21.09 Sep 29230.05 -1.1 20.03 158950
HINDPETRO.21.09 Sep 293 5.21 14.65 18462600 METROPOLIS.21.09 Sep 2810.2 -4.73 19.62 237800
POWERGRID.21.09 Sep 184.15 4.33 14.03 28563548 DEEPAKNTR.21.09 Sep 2397.8 -1.89 17.97 1867500
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
RECLTD.21.09 Sep 159.65 5.31 -13.46 14388000 ICICIGI.21.09 Sep 1560 -0.14 -26.34 1701700
NMDC.21.09 Sep 140.95 0.71 -12.53 41439500 MANAPPURAM.21.09 Sep 169.65 -1.77 -25.72 10188000
HAL.21.09 Sep 1345 0.35 -12.38 1005100 AARTIIND.21.09 Sep 932.75 -0.42 -23.19 1613300
DRREDDY.21.09 Sep 4859.95 1.44 -11.46 1549125 IBULHSGFIN.21.09 Sep 227.15 -3.4 -18.33 23501100
JSWSTEEL.21.09 Sep 661.45 1.75 -11.35 15444000 BOSCHLTD.21.09 Sep 15724.95 -0.76 -15.92 77900

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Indraprastha Gas Limited 516.6 -1.54 3815517 1758793 72.22 Nifty Energy 22449.35 2.01 79485
Sun Pharma  Ltd 775.1 1.58 4938824 2017591 70.48 Nifty Metal 5534.6 0.55 79485
Hindustan Unilever Ltd 2723.85 0.53 1078052 1014019 69.17 Nifty Pharma 14171.6 0.11 79485
Piind 3114.55 -1.1 287815 250347 68.76 Nifty Fmcg 40682.95 -0.09 79485
Hcl Technologies Ltd. 1269 -2.02 8572321 5199330 67.93 Nifty Bank 37945 -0.59 79485
Power Grid Corporation o 183.95 4.52 29155220 2603800 66.69 Nifty 50 17748.6 -0.6 79485
Infosys Limited 1687.1 -1.98 6557197 3353897 66.48 Nifty Auto 10695.95 -0.64 79485
Coromandel International 799 0.23 804322 532359 65.45 Nifty Media 2152.1 -1.66 79485
Hdfc Ltd. 2804.95 -1.23 2645677 1741306 64.87 Nifty it 35239.95 -2.2 79485
Larsen & Toubro Limited 1737.15 -0.14 1442615 1067444 64.67 Nifty Realty 500.7 -3.02 79485

UPCOMING ECONOMIC DATA

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

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

•USD: Crude Oil Inventories  on 29th September, 2021

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

NEWS UPDATES

•CRISIL Ratings has upgraded its long term rating on the bank facilities and debt programme of Bharti Airtel Limited (BAL) to ‘CRISIL AA+/Stable’ from ‘CRISIL AA/Stable’, and has reaffirmed the ‘CRISIL A1+’ rating on the commercial paper programme. CRISIL Ratings has withdrawn its rating on Rs 1,500 crore non-convertible debentures (NCDs) of BAL, as they have been fully repaid. CRISIL Ratings has received confirmation of no dues against these NCDs from the debenture trustee. The rating action is in line with the CRISIL Ratings policy on withdrawal of rating on NCDs.

•Direct-to-Home service provider Dish TV has got a breather, as the Registrar of Companies has granted the company an extension of two months to call an Annual General Meeting (AGM) from the due date by which it ought to have been held. Subsequently, the Essel Group firm, which is facing a notice from its minority shareholder Yes Bank to remove its Managing Director Jawahar Goel along with four other directors from the board, has postponed the AGM, which was scheduled to be held on September 27.

•Tata Consultancy Services Ltd (TCS) has bagged a five-year IT transformation contract from NORD/LB, a leading German commercial bank that is targeting a new business model by 2024 with a more agile operating model.

•Tata Motors on Tuesday rolled out the 1,00,000th unit of its hatchback Altroz, from the company’s manufacturing facility at Pune. The city-headquartered vehicle maker had commenced Altroz production at the fag-end of November 2019. It launched the vehicle in January 2020.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ARAMBHAN General 29-Sep-21 APOLLO General 30-Sep-21
EIS Voluntary Delisting of Shares 29-Sep-21 DHANVARSHA General 30-Sep-21
GOKULAGRO Preferential Issue of shares 29-Sep-21 ESHAMEDIA A.G.M. 30-Sep-21
INDOWIND Right Issue of Equity Shares 29-Sep-21 GBGLOBAL General 30-Sep-21
JAYATMA Scheme of Arrangement;General 29-Sep-21 GENUSPAPER General 30-Sep-21
KINGSINFR General 29-Sep-21 HINDEVER Stock  Split 30-Sep-21
PANTH General 29-Sep-21 NAVBLDR Issue Of Warrants 30-Sep-21
PBAINFRA General 29-Sep-21 RELTD General 30-Sep-21
SHABCHM A.G.M. 29-Sep-21 SANTETX Issue Of Warrants 30-Sep-21
SINDHUTRAD Quarterly Results 29-Sep-21 SOFTSOL General 30-Sep-21
TECHNOFAB Quarterly Results 29-Sep-21 VAICC A.G.M. 30-Sep-21
AFEL General 30-Sep-21 VISHWARAJ Stock  Split;General 30-Sep-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ECLERX 29-Sep-21 Buy Back of Shares ALPHALOGIC 05-Oct-21 Stock  Split From Rs.10/- to Rs.5/-
GKP 29-Sep-21 Bonus issue 1:1 ANUPAM 06-Oct-21 Stock  Split From Rs.10/- to Rs.1/-
CLEDUCATE 30-Sep-21 Stock  Split From Rs.10/- to Rs.5/- AFFLE 07-Oct-21 Stock  Split From Rs.10/- to Rs.2/-
UNIAUTO 30-Sep-21 Final Dividend – Rs. – 0.50 DCMSRMIND 08-Oct-21 Stock  Split From Rs.10/- to Rs.2/-

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