Outlook-30-08-2021NIFTY:

The Nifty opened at 16642.55 without much of a gap. The index first moved down and recorded its intraday low at 16565.60. Prices then saw  a sharp recovery of more than 150 points and recorded its intraday high at 16722.05. The index finally closed at 16705.20 with a gain of 68.30 points. All the sectoral indices have closed in gain. The Metal and Pharma performed better while the Banks remained subdued.

The index moved very volatile and ended with gains. A trading range inside 16350-16700 broke on the upside and the index ended a few points higher from 16700 resistance. We need a follow through to confirm this breakout. The intraday range continued to be narrow suggesting a sharp move should come maybe next week. We should look to buy the index above 16750 with a stop of 60 points and a target of 140 points. If this breakout sustains then the pattern target emerges above 17000.

BANK NIFTY:

Bank Nifty opened at 35559.75 with a gap down of 42 points. The index fell further on the downside and recorded its intraday low at 35359.25. Prices then saw a mild rally and recorded its intraday high at 35727.90. Private and PSU Banks both have seen an intraday rally and closed with minor gains. Within the index, in terms of points, Kotak Bank contributed highest while AU Bank the lowest.

Buy the index above 35900 or sell short below 35300. Keep a stop of 300 points and target of 600 points from the entry level.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
MCDOWELL 700.45 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 685 and for the target 720
ADANIPORTS 727 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 710 and for the target 750

 

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
GMRINFRA 30 CE BUY 1.15 CMP .90 1.55 OI increase

 

Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
TORNTPHARM.21.09 Sep 3061.8 0.61 9989.66 731500 MFSL.21.09 Sep 1024.6 0 4442.72 3041350
ADANIPORTS.21.09 Sep 730.25 1.21 6941.38 85728750 CHOLAFIN.21.09 Sep 525.45 -0.93 4178.69 9787500
AXISBANK.21.09 Sep 753.6 1.17 6572.95 26344800 INDUSINDBK.21.09 Sep 991.25 -0.92 2759.15 12094200
LT.21.09 Sep 1645.35 3.41 5975 13134150 EICHERMOT.21.09 Sep 2556.15 -0.57 2583.22 4028850
TORNTPOWER.21.09 Sep 490.1 3.51 5648.57 3018000 M&M.21.09 Sep 776.25 -0.33 1975.65 11216800
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
FINNIFTYW.21.09 Sep 17455 0.23 -86.67 160

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Larsen & Toubro Limited 1638.1 2.65 4903187 1445834 70.49 Nifty Metal 5492.7 1.63 97368853
Can Fin Homes Ltd 525.25 1.7 885947 957101 68.75 Nifty Pharma 13948.7 1.38 38350138
Ipca Laboratories Ltd. 2459.9 -2.11 256364 137580 68.29 Nifty Media 1593.45 0.98 335239345
Maruti Suzuki India Ltd 6624.85 0.25 1428388 796214 66.38 Nifty it 34309.8 0.79 1621992
Infosys Limited 1708.8 -1.09 6698514 3452873 65.12 Nifty Realty 377.25 0.73 1414853627
Nmdc Limited 152.2 2.46 30427758 28487813 65.1 Nifty 50 16705.2 0.41 31956305
Astral Limited 1982.05 0.54 434803 132009 62.76 Nifty Energy 19942.45 0.39 1168355
Shree Cements Ltd. 26897.75 1.29 43602 30271 61.27 Nifty Fmcg 38819.5 0.38 499593
Hdfc Ltd. 2718.2 0.66 2761023 1136547 61.26 Nifty Auto 9793.85 0.31 54480176
Indian Energy Exchange l 433.85 -1.57 3146794 3551927 61.14 Nifty Bank 35627.8 0.03 14970069

 

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: GDP Quarterly (YoY) (Q1)  on 31st August, 2021

INR: Infrastructure Output (YoY) (Jul) on 31th August, 2021

•USD: Pending Home Sales (MoM) (Jul) on 30th August, 2021

•USD: CB Consumer Confidence (Aug) on 31st August, 2021

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News Updates

•India’s top oil firm Indian Oil Corp (IOC) on Friday said it will invest close to Rs 1 lakh crore to raise its refining capacity by almost a third in the next 4-5 years as it saw fuel demand continuing to grow in near future. Addressing the company’s annual meeting of shareholders, IOC Chairman Shrikant Madhav Vaidya said petrol demand is already back at pre-COVID levels and diesel – the most used fuel in the country – should return to normal levels by Diwali.

•Moody’s Investors Service has assigned a Ba3 rating to Adani Green Energy’s proposed USD senior secured notes. According to Moody’s scale of ratings, obligations rated Ba are judged to be speculative and subject to substantial credit risk. It has assigned a Ba3 rating to the proposed USD senior secured notes to be issued by Adani Green Energy Ltd (AGEL), a statement by Moody’s said adding that the outlook is stable.

•The National Highways Authority of India (NHAI) will be the flag-bearer of the government’s asset monetisation programme with a plan to raise about Rs 30-40,000 crore through monetisation of its operational stretches over the next two years.The company officials indicated that the disruptions in wake of pandemic delayed some of its asset monetisation plan, but with traffic fast returning to near normal levels now, about Rs 10,000 crore of road assets would be monetised by NHAI in the current year (FY22) and the exercise would kick up pace next year with doubling or tripling of the numbers in the next few years.

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

Board Meetings

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BETXIND General;A.G.M. 30-Aug-21 LANCER Bonus issue;In. in Auth. Cap. ;Pref 30-Aug-21
BHANDHOS General 30-Aug-21 MAHASTEEL General;A.G.M. 30-Aug-21
CDG Preferential Issue of shares 30-Aug-21 MOHITIND Voluntary Delisting;General;A.G.M. 30-Aug-21
DAL General 30-Aug-21 NAM A.G.M. 30-Aug-21
DAVANGERE A.G.M. 30-Aug-21 ORCHASP A.G.M. 30-Aug-21
DJML A.G.M. 30-Aug-21 PICCASUG Right Issue of Equity Shares 30-Aug-21
HIKLASS A.G.M. 30-Aug-21 POLYMAC A.G.M. 30-Aug-21
HYPERSOFT A.G.M.;General 30-Aug-21 REMITR Voluntary Delisting of Shares 30-Aug-21
INTERDIGI A.G.M. 30-Aug-21 RTSPOWR A.G.M. 30-Aug-21
JINDALSTEL General 30-Aug-21 SAMTEX A.G.M. 30-Aug-21
KNRCON General 30-Aug-21 TITAANIUM A.G.M.;General 30-Aug-21
LACTOSE General;A.G.M. 30-Aug-21 TOYAMIND A.G.M.;General 30-Aug-21

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
3IINFOTECH 30-Aug-21 Reduction of Capital JK AGRI 30-Aug-21 Dividend – Rs. – 1.50
BELLACASA 30-Aug-21 Final Dividend – Rs. – 0.3500 KAMAHOLD 30-Aug-21 Interim Dividend – Rs. – 51.00
BENGALASM 30-Aug-21 Dividend – Rs. – 7.50 KANCOTEA 30-Aug-21 Dividend – Rs. – 1.00
GANDHITUBE 30-Aug-21 Buy Back of Shares KITEX 30-Aug-21 Final Dividend – Rs. – 1.50
HLEGLAS 30-Aug-21 Dividend – Rs. – 4.00 NLFL 30-Aug-21 Dividend – Rs. – 0.50
IMPAL 30-Aug-21 Dividend – Rs. – 10.00 PRIMAPLA 30-Aug-21 Final Dividend – Rs. – 1.50
JENBURPH 30-Aug-21 Dividend – Rs. – 10.20 SMARTFIN 30-Aug-21 Stock  Split From Rs.10/- to Rs.1/-

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