The NIFTY opened at 17485.70 with a big gap down of 274 points. The index found support around 17500 and bounced up. Prices have rallied but failed to fill the gap. Prices have recorded its intraday high at 17695.60 and moved down after facing strong resistance there. A decline broke the early morning low and the index recorded its intraday low at 17468.45. The index has seen some recovery in the last one and half hours of trading and finally closed at 17542.80 with a loss of 216.50 points or 1.22% down. IT and OIL GAS led the bears today and ended with a loss of 1.98% & 1.82% respectively. REALTY outperformed today and ended with gains followed by AUTO which ended with a gain of 0.37%. Resistance comes around 17700 while short-term support is visible around 17400 and strong support is visible around 17200. The index is going through a process of consolidation. Fresh trades will emerge either on a close above 17700 or on a close below 17400. As of now, we should wait for an adequate setup to emerge again. We will plan our trades accordingly.
The BANK NIFTY opened at 38806.70 with a big gap down of 714 points. The index recorded its intraday low almost at the opening tick and bounced up. Prices have recovered all the losses due to a down gap and moved into positive territory. However, the rally could not sustain long and prices again drifted downwards after recording their intraday high at 39667.65. Prices moved down sharply and came close to their opening tick and then saw some recovery in the late hour of trading and finally closed at 39345.80 with a loss of 175 points. PSU BANKS have outperformed today and closed with a gain of 0.71%. PVT BANKS have underperformed today and closed with a loss of 0.66%. Within the index, in terms of points, SBIN contributed the highest on the upside while ICICIBANK contributed the lowest. BANK NIFTY moved very volatile during the day and closed above 39000. A wide trading range is now clearly visible on the daily timeframe chart with support around 38000 and resistance around 39800. We do not have an adequate setup that could suggest us a trading opportunity. As of now, we should step aside and avoid trading the index due to high volatility.
|INFY||1464.2||BUY||The stock has taken support at the lower level and then bounces. The stock can be bought at 1467 with a stop loss of 1456.5 and a target of 1485.4.|
|LAL PATH LAB||2476.90||SELL||The stock has taken resistance and facing supply at the current level, One should be sell at 2460 for the target of 2395 with sl of 2502|
|Stock Name||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|GMRINFRA.22.09 Sep||38.7||7.05||6.1||1.28E+08||ZEEL.22.09 Sep||242.55||-4.99||9.33||97134000|
|TATACOMM.22.09 Sep||1272.65||5.54||6.72||3010500||PEL.22.09 Sep||1032.75||-3.64||5.63||6032125|
|ASHOKLEY.22.09 Sep||163.05||5.19||17.51||55220000||HINDALCO.22.09 Sep||424.85||-3.49||14.97||25830100|
|SRF.22.09 Sep||2678.1||4.98||6.9||3437250||NATIONALUM.22.09 Sep||76.7||-3.46||9.8||58879500|
|ASTRAL.22.09 Sep||2186.95||4.67||6.71||721875||PERSISTENT.22.09 Sep||3431||-3.15||10.31||510450|
|Short Covering||Long Unwinding|
|GUJGASLTD.22.09 Sep||480.25||2.31||-8.87||4457500||IBULHSGFIN.22.09 Sep||134.55||-2.15||-2.28||36112000|
|ESCORTS.22.09 Sep||2016.2||1.83||-8.78||1577950||RAIN.22.09 Sep||197.85||-1.69||-1.02||10524500|
|INTELLECT.22.09 Sep||606.25||1.74||-1.39||1861500||SRTRANSFIN.22.09 Sep||1335.35||-1.54||-0.38||3468600|
|FEDERALBNK.22.09 Sep||119.1||1.19||-1.01||89360000||CROMPTON.22.09 Sep||405.6||-1.1||-0.47||5119500|
|APOLLOTYRE.22.09 Sep||253.9||0.49||-2.03||12484500||PAGEIND.22.09 Sep||50888||-0.94||-0.03||94215|
TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Oracle Fin Serv Soft Ltd||3104.05||-2.08||111906||0||77.56||Nifty50||17542.8||-1.22||80286|
|Godrej Cons Products Ltd||922.5||-0.19||967020||0||75.57||Niftybank||39301.25||-0.6||80286|
|Tata Consumer Products l||838.4||3.55||6228307||0||73.82||Nifty it||27846.8||-1.98||80286|
|Cummins India Limited||1222.5||2.51||825029||0||73.11||India Vix||19.87||7.25||80286|
|Power Finance Corporatio||117.45||-1.8||5303710||0||73.05||Nifty Fmcg||43497.35||-0.74||80283|
|Au Small Finance Bank Li||648||2.22||2108773||0||72.97||Nifty Pharma||12555||-1.14||80283|
|Siemens Ltd||2920.85||1.29||876368||0||72.43||Nifty Auto||13266.15||0.37||80280|
|Rec Limited||107.4||-1.24||6817616||0||70.51||Nifty Metal||5878.95||-0.94||80280|
|Hero Motocorp Limited||2876.65||1.37||838699||0||69.73||Nifty Financial Services||18056||-0.98||80277|
UPCOMING ECONOMIC DATA
|INR: Trade Balance on 02nd September, 2022
INR: Nikkei Services PMI (Aug) on 05th September, 2022
| USD : Nonfarm Payrolls (Aug) on 02nd September, 2022
USD : Unemployment Rate (Aug) on 02nd September, 2022
Sensex, Nifty Lose Over 1% Dragged By Energy, I.T., Metal Stocks. India’s stock benchmarks declined, dragged by losses in energy, information technology and metal stocks. The decline comes amid selloff across global markets amid hawkish comments from central bankers, lockdown in China. The fall in energy and oil & gas stocks followed government’s decision to hike windfall tax on diesel, crude and ATF exports.
The proposed merger between Zee Entertainment Enterprises Ltd. and Sony Group Corp.’s India unit is unlikely to be called off due to the notice issued by the Competition Commission of India. That’s according to Karan Taurani, senior vice president at Elara Capital. “The CCI (notice) is more of an enquiry,” Taurani told BQ Prime’s Niraj Shah. “I don’t think the merger will be called off.”
India’s monthly good and services tax revenue remained above Rs 1.4 lakh crore for the sixth month in a row on account of better compliance. GST revenue for July, collected in August, stood at Rs 1,43,612 crore, according to a finance ministry statement. That’s a 28% jump over the year-ago period.
India’s urban unemployment rate fell to 7.6 percent in April-June, the lowest in over four years, from 8.2 percent in the first quarter of 2022, according to data released by the Ministry of Statistics and Programme Implementation on August 31.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Meeting Date||Company Name||Purpose||Meeting Date|
|AFEL||A.G.M.;Audited Results;General||02-Sep-22||GCSL||A.G.M.;Bonus issue;Increase in Authorised Capital;General||02-Sep-22|
|BERYLSE||A.G.M.||02-Sep-22||HFIL||Increase in Authorised Capital;General||02-Sep-22|
|CELESTIAL||Audited Results;Quarterly Results||02-Sep-22||JHS||Preferential Issue of shares||02-Sep-22|
|GBFL||A.G.M.;General||02-Sep-22||MODULEX||Audited Results;Quarterly Results||02-Sep-22|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|AIAENG||02-Sep-22||Dividend Rs. 9||DHARAMSI||06-Sep-22||Final Dividend Rs. 1|
|ANURAS||02-Sep-22||Final Dividend Rs. 1||DRAGARWQ||06-Sep-22||Final Dividend Rs. 3|
|APLAPOLLO||02-Sep-22||Final Dividend Rs. 3.5||ESCORP||06-Sep-22||Bonus issue 2:3|
|ENGINERSIN||02-Sep-22||Final Dividend Rs. 1||GAIL||06-Sep-22||Bonus issue 1:2|
|GROVY||02-Sep-22||Final Dividend Rs. 0.1||HALDYNGL||06-Sep-22||Dividend Rs. 0.60|
|INDOAMIN||02-Sep-22||Final Dividend Rs. 0.5||KAMDHENU||06-Sep-22||Spin Off|
|JOINDRE||02-Sep-22||Dividend Rs. 1.25||VINATIORGA||06-Sep-22||Dividend Rs. 6.50|
|NIKHILAD||02-Sep-22||Final Dividend Rs. 2||VIPULORG||06-Sep-22||Final Dividend Rs. 0.90|
|QGO||02-Sep-22||Int. Div.Rs. 0.10||ACRYSIL||07-Sep-22||Final Dividend Rs. 1.2|
|SHIVTEX||02-Sep-22||Dividend Rs. 1.40||ASAHIINDIA||07-Sep-22||Dividend Rs. 2|
|TVSSRICHAK||02-Sep-22||Dividend Rs. 16.30||CHEMFABALKA||07-Sep-22||Dividend Rs. 1.25|
|BHARATRAS||05-Sep-22||Final Dividend Rs. 1.5||DIANATEA||07-Sep-22||Dividend Rs. 0.5|
|EMMBI||05-Sep-22||Dividend Rs. 0.60||JINDRILL||07-Sep-22||Dividend Rs. 0.50|
|GARFIBRES||05-Sep-22||Final Dividend Rs. 7||KLRFM||07-Sep-22||Dividend Rs. 1.80|
|ISFT||05-Sep-22||Final Dividend Rs. 1||MAHSEAMLES||07-Sep-22||Dividend Rs. 5|
|MANGCHEFER||05-Sep-22||Dividend Rs. 1.20||METROGLOBL||07-Sep-22||Dividend Rs. 2|
|NATPEROX||05-Sep-22||Dividend Rs. 5||NIRLON||07-Sep-22||Final Dividend Rs. 11|
|TRANSPEK||05-Sep-22||Dividend Rs. 22.5||NRBBEARING||07-Sep-22||Final Dividend Rs. 2|
|YUKEN||05-Sep-22||Final Dividend Rs. 0.80||RAINBOW||07-Sep-22||Final Dividend Rs. 2|
|BANCOINDIA||06-Sep-22||Dividend Rs. 20||APCL||08-Sep-22||Final Dividend Rs. 3|
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