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 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.

Trade AnyTime AnyWhere With Elite Empower Mobile App



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


Get All Your Mutual Fund Portfolio Returns on Your Mobile by Elite Kuber App



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

Get Stock Market Recommendation By Our Research Analysts



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



   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

Open Your Demat Account to Invest in Upcoming IPO’sDemat-and-Trading-Account-Promotion-Banner

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/-

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 e-mailing 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, advisory 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 Advisory 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 Advisory or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL Advisory 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 Advisory 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 Advisory or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL Advisory or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL Advisory 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 Advisory 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 Advisory 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 Advisory 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 Advisory
Provided that research analyst or research entity shall not be required to make a disclosure as per sub-clauses (c), (d) and (e) of clause (ii) or sub-clauses (a) and (b) of clause (iii) to the extent such disclosure would reveal material non-public information regarding specific potential future investment banking or merchant banking or brokerage services transactions of the subject company.
(4) EWL Advisory or its proprietor has never served as an officer, director or employee of the subject company;
(5) EWL Advisory has never been engaged in market making activity for the subject company;
(6) EWL Advisory shall provide all other disclosures in research report and public appearance as specified by the Board under any other regulations.