Outlook-02-09-2021NIFTY:

The Nifty opened at 17185.60 with a gap up of 53 points. The index rallied further on the upside for almost the first hour of trading and recorded its intraday high at 17225.75. The index then started moving on the downside. Prices have fallen more than 150 points and recorded its intraday low at 17055.05. Prices have spent the second half moving sideways and choppy and finally closed at 17076.25 with a loss of 55.95. The realty sector outperformed and ended with a gain of 5.57%. The Metal and IT were the biggest underperformers and ended with a loss of 1.79% and 1.33% respectively. It was a volatile day in the index where prices have seen a sharp intraday swing on both sides in the first half and moved choppy and sideways in the second half. The Nifty broke three days of higher closing streak and ended with a minor loss. The trend remains up.

The index continued making lifetime new highs for the third consecutive trading day and the index crossed the 17200 levels. The short term trend is up. We should wait for a new pattern to emerge. That pattern may be a dip towards the support at 16700. The high of 17230 may act as a resistance.

BANK NIFTY:

Bank Nifty opened at 36591.45 with a gap up of 202 points. The index recorded its intraday low at 36487.15 and then rallied to record its intraday high at 36997.70. The index then tumbled and almost reached at the morning lows. Prices then moved sideways and closed near its low with a slight gain. Private and PSU Banks both have seen an intraday rally and closed higher with a gain of 0.45% and 0.86% respectively. Within the index, Axis Bank contributed highest while HDFC Bank the lowest. Bank Nifty traded very volatile. Prices have seen sharp intraday swings on both sides.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
TORRENT PHARMA 3167.5 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 3110 and for the target 3230
GMR INFRA 30.3 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 28.7 and for the target 32.2

 

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
TATAPOWER 135 CE BUY 4.55 CMP 3 7 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
IEX.21.09 Sep 563.7 11.35 36.36 4275000 GUJGASLTD.21.09 Sep 706.95 -2.21 19.18 2245000
CANFINHOME.21.09 Sep 587.1 2.42 34.01 1344525 OFSS.21.09 Sep 4677.25 -0.71 18.16 173250
UBL.21.09 Sep 1560.55 5.58 22.61 1643600 SYNGENE.21.09 Sep 632 -2.01 18.07 788800
ASTRAL.21.09 Sep 2117 3.51 14.1 440550 PEL.21.09 Sep 2602.05 -0.5 15.13 3377000
AUBANK.21.09 Sep 1156.1 1.93 13.88 4959500 MPHASIS.21.09 Sep 2787.05 -2.47 12.64 1454375
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
CANBK.21.09 Sep 162 1.5 -4.92 70507800 FINNIFTYW.21.09 Sep 18056.1 -0.09 -37.5 200
METROPOLIS.21.09 Sep 2898 2.24 -3.05 305200 ALKEM.21.09 Sep 3870.1 -0.58 -1.64 347000
GODREJPROP.21.09 Sep 1566.2 5.16 -2.17 1930500 HINDALCO.21.09 Sep 458.05 -2.29 -1.08 37115450
RBLBANK.21.09 Sep 171 3.07 -2.15 32123300 ABFRL.21.09 Sep 208.5 -0.12 -0.69 8593000
AMARAJABAT.21.09 Sep 715.2 2.27 -1.91 7148000 SRTRANSFIN.21.09 Sep 1333.65 -1.44 -0.27 4646400

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Indus Towers Limited 216.4 0.49 2211111 4928276 76.35 Nifty Realty 408.35 5.57 84717
Icici Prudential Life In 658.45 -0.1 2107316 5619143 74.1 Nifty Media 1610.55 0.56 84717
Nestleind 19826.85 1.84 104843 166749 73.34 Nifty Bank 36574.3 0.41 84717
Petronet Lng Limited 227.75 0.07 1196254 5157549 71.94 Nifty Energy 20356.55 0.33 84717
Colgate Palmolive (india 1701.3 0.47 621889 1096506 69.12 Nifty Fmcg 39644.7 0.29 84717
Hdfc Life Insurance Comp 718.55 0.11 4991772 2584082 67.04 Nifty Auto 10043.9 0.09 84717
Icici Lombard General In 1633.45 2.44 955812 462281 64.71 Nifty Pharma 14319.85 -0.17 84717
Itc Ltd. 209.5 -0.85 16241960 16684705 64.65 Nifty 50 17076.25 -0.33 84717
Kotak Mahindra Bank Limi 1746.65 -0.4 7266354 2862516 63.72 Nifty it 34110.5 -1.33 84717
Hdfc Bank Ltd. 1579.1 -0.15 6211279 3804884 63.09 Nifty Metal 5612.45 -1.79 84717

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Trade Balance (Aug) on 2nd September, 2021

INR: Nikkei Services PMI (Aug) on 3rd September, 2021

•USD: Initial Jobless Claims on 2nd September, 2021

•USD: Trade Balance (Jul) on 2nd September, 2021

 

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News Updates

•Shalby Hospitals is an acknowledged leader in India in Orthopedic Care with its presence through 11 multispecialty hospitals spread across the country. Performing more than 10,000 plus joint replacement surgeries annually and commanding 15% of the total share of the organized market in India, Shalby is equipped with renowned experts of the domain, making it the go-to place for orthopedics.

•State Bank of India on Wednesday announced that it has raised ₹4,000 crore of the Basel compliant Additional Tier 1 (AT1) bonds at coupon rate of 7.72%. This is the first AT1 Bond issuance in the domestic market post the new SEBI regulations.

•Vedanta Ltd on Wednesday said that its board has approved interim dividend of ₹18.50 per equity share for FY22, amounting ₹6,877 crore. This is the first interim dividend for 2021-22.

•State-owned Oil and Natural Gas Corp (ONGC) has pumped first gas from its deep-water U1B well in Krishna Godavari block KG-D5 in the Bay of Bengal. The well, in KG-DWN 98/2 Block’s Cluster-2, has an estimated peak production of 1.2 million cubic meters per day of gas, the company said in a statement.

•Hindustan Zinc today said that it has extended its planned shutdown at one of the roasters at Chanderiya Lead Zinc Smelter in view of the need to repair and overhaul many major structural components of the roaster to avoid any operational risk in the future.

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

Board Meetings

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ABIRAFN A.G.M.;General 02-Sep-21 GUJHYSPIN A.G.M. 02-Sep-21
AMS A.G.M. 02-Sep-21 HBEL A.G.M.;General 02-Sep-21
ANTARIKSH General 02-Sep-21 IISL A.G.M.;General 02-Sep-21
ARISE General 02-Sep-21 IL&FSENGG Audited Results 02-Sep-21
AXITA A.G.M.;General 02-Sep-21 INDBNK A.G.M. 02-Sep-21
BESTAGRO Preferential Issue of shares 02-Sep-21 KABRADG General 02-Sep-21
CONTPTR A.G.M.;General 02-Sep-21 KENFIN A.G.M.;General 02-Sep-21
DIDL A.G.M. 02-Sep-21 KIRANPR A.G.M.;General 02-Sep-21
DJSSS A.G.M.;General 02-Sep-21 KLKELEC A.G.M.;General 02-Sep-21
DUKEOFS General 02-Sep-21 KREONFIN A.G.M.;Preferential Issue of shares 02-Sep-21
ELEFLOR A.G.M.;General 02-Sep-21 MAAJTL A.G.M.;General 02-Sep-21
GOODLUCK General 02-Sep-21 MAGANTR A.G.M. 02-Sep-21

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ARCHITORG 02-Sep-21 Dividend – Rs. – 0.50 PNBGILTS 02-Sep-21 Final Dividend – Rs. – 3.00
ASHIANA 02-Sep-21 Final Dividend – Rs. – 0.40 SURYAROSNI 02-Sep-21 Final Dividend – Rs. – 1.50
COALINDIA 02-Sep-21 Final Dividend – Rs. – 3.50 TNPETRO 02-Sep-21 Final Dividend – Rs. – 2.50
GRSE 02-Sep-21 Final Dividend – Rs. – 1.1500 TRIL 02-Sep-21 Final Dividend – Rs. – 0.10
JTEKTINDIA 02-Sep-21 Final Dividend – Rs. – 0.1500 VOITHPAPR 02-Sep-21 Final Dividend – Rs. – 5.00
KOVAI 02-Sep-21 Final Dividend – Rs. – 3.00 VSSL 02-Sep-21 Dividend – Rs. – 1.50
MANALIPETC 02-Sep-21 Dividend – Rs. – 1.50 ZEEL 02-Sep-21 Final Dividend – Rs. – 2.50

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