NIFTY:
The Nifty opened at 17657.95 with a gap down of 91 points. The index moved sideways and traded in a narrow consolidation in the first half. Prices have recorded its intraday low at 17608.15. That consolidation broke on the upside in the second half and prices have seen an intraday rally of more than 100 points. Prices have filled the down gap and recorded its intraday high at 17781.75. In the last 30 minutes of trading the index fell down and finally closed at 17711.30 with a loss of 37 points. The Metal sector has outperformed and ended with a gain of 2.29% together with the Pharma and Realty sector that ended more than 1% higher, Banks and Financials underperformed and ended with some losses.
It was a tale of two halves in the Nifty. In the first half, the index opened with a gap down and then moved sideways. However in the second half prices have seen a sharp rally. We have been mentioning support around 17600. The index has been holding this support for the last two days. Any dip towards the support quickly reverses. A volatile movement continued that started that started two days ago. This movement is likely to continue as the monthly expiry is scheduled today.
BANK NIFTY:
Bank Nifty opened at 37601.10 with a big gap down of 267 points. The index moved further on the downside and recorded its intraday low at 37371.05. Prices then started moving on the upside and continued that bullish momentum for the whole day. The index recorded its intraday high at 37923.45 and closed with a loss of about 100 points. PSU Banks have outperformed and closed with a gain of 2.72%. On the other hand, Private Banks have underperformed and closed lower by 1.08%. Within the index, SBIN contributed highest while HDFC Bank the lowest.
The index is finding short term support around 37300 and resistance at 38400.
TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| ASTRAL | 2143 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 2100 and for the target 2200 |
| HEG | 2312 | BUY | The stock has given a breakout from a narrow trading range. The stock can be sold at CMP with a stop at 2250 and for the target 2400 |
DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| SBIN | 460 CE | BUY | 3.35 | CMP | 1 | 6 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| SUNPHARMA.21.09 Sep | 809.95 | 3.77 | 33.93 | 18328800 | HDFCAMC.21.09 Sep | 2913.5 | -5.24 | 29.76 | 860800 | |
| TORNTPHARM.21.09 Sep | 3149.8 | 1.28 | 29.8 | 559750 | BAJAJ-AUTO.21.09 Sep | 3903.9 | -0.21 | 28.67 | 1559750 | |
| MARICO.21.09 Sep | 553.2 | 0.34 | 25.92 | 7354000 | DABUR.21.09 Sep | 622.85 | -0.74 | 21.43 | 6106250 | |
| CHOLAFIN.21.09 Sep | 574.9 | 3.35 | 23.53 | 8353750 | AXISBANK.21.09 Sep | 782.2 | -1.03 | 21.21 | 18340800 | |
| LTTS.21.09 Sep | 4735 | 2.68 | 21.79 | 491800 | TECHM.21.09 Sep | 1399.35 | -1.22 | 17.43 | 5784000 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI% | OI | Stocks | Price | Price % | OI % | OI | |
| GUJGASLTD.21.09 Sep | 627.5 | 1.44 | -26.8 | 1723750 | DIXON.21.09 Sep | 4440 | -0.28 | -23.56 | 158125 | |
| AARTIIND.21.09 Sep | 934.9 | 0.24 | -24.71 | 1004700 | IRCTC.21.09 Sep | 3764.85 | -2.85 | -23.29 | 819000 | |
| L&TFH.21.09 Sep | 90.5 | 1.91 | -23.5 | 24023408 | VOLTAS.21.09 Sep | 1206.3 | -0.59 | -22.14 | 1160500 | |
| IPCALAB.21.09 Sep | 2357.9 | 0.19 | -23.48 | 107775 | SHREECEM.21.09 Sep | 29297.1 | -0.08 | -19.35 | 53650 | |
| WIPRO.21.09 Sep | 642.35 | 0.18 | -22.4 | 7920000 | TVSMOTOR.21.09 Sep | 551.1 | -0.99 | -17.74 | 1324400 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Sbi Life Insurance Compa | 1205.95 | -0.36 | 1623118 | 1115242 | 70.22 | Nifty Metal | 5661.25 | 2.29 | 83409 | |
| Tata Consultancy Serv Lt | 3791.9 | 0.34 | 2489161 | 1558553 | 69.17 | Nifty Energy | 22864.55 | 1.85 | 83409 | |
| Indraprastha Gas Limited | 518.65 | 0.4 | 4947601 | 2638464 | 69.15 | Nifty Pharma | 14404.95 | 1.65 | 83409 | |
| Marico Limited | 553.45 | 0.45 | 2090106 | 1748946 | 68.81 | Nifty Realty | 506.35 | 1.13 | 83409 | |
| Hcl Technologies Ltd. | 1281.2 | 0.96 | 4639821 | 5862044 | 68.38 | Nifty Media | 2157.95 | 0.27 | 83409 | |
| Infosys Limited | 1692.25 | 0.31 | 7792548 | 4432200 | 67.59 | Nifty it | 35282.65 | 0.12 | 83409 | |
| Tech Mahindra Limited | 1395.35 | -1.32 | 7948104 | 2645817 | 66.22 | Nifty 50 | 17711.3 | -0.21 | 83409 | |
| Icici Bank Ltd. | 709.5 | -1.07 | 11453404 | 8806092 | 65.27 | Nifty Auto | 10655.5 | -0.38 | 83409 | |
| Piind | 3243.55 | 4.14 | 979437 | 182630 | 63.45 | Nifty Fmcg | 40472.15 | -0.52 | 83409 | |
| Sun Pharma Ltd | 811.3 | 4.67 | 18565413 | 3110016 | 62.97 | Nifty Bank | 37743 | -0.53 | 83409 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Infrastructure Output YoY Aug on 30th September, 2021
INR: Government Budget Value Aug on 30th September, 2021 |
•USD: GDP (QoQ) (Q2) on 30th September, 2021
•USD: Initial Jobless Claims on 30th September, 2021 |
NEWS UPDATES
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State-run Coal India said on Wednesday it will ramp up supplies to utilities to address a coal shortage that has left most of the country’s power plants close to running out of fuel when electricity demand is increasing. “Despatches to coal-fired plants from October onwards are aimed at 1.5 million tonnes per day and beyond 1.6 million tonnes in due course,” the miner, which accounts for over 80% of India’s coal output said in a statement.
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BHEL on Wednesday said it has bagged a maiden order for supply of a main gun onboard of warships from Goa Shipyard. “In a major boost to defence production under the ‘Make in India’ initiative and towards achieving self-reliance in the critical field of defence equipment, Goa Shipyard has placed a maiden order on Bharat Heavy Electricals Ltd (BHEL) for supply of an upgraded d Super Rapid Gun Mount (SRGM), the main gun onboard most warships of the Indian Navy,” BHEL said in a statement.
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After the embargo on HDFC Bank was lifted last month, they have issued over 400,000 credit cards, a report by the Business Standard says. This signifies the aggressive growth that the private lender has made since then. This record issuance is as of September 21, 2021.
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Invesco has moved the National Company Law Tribunal on Wednesday against Zee Entertainment Enterprises Ltd for failing to announce a date for the extraordinary general meeting (EGM) to remove Zee’s chief executive and managing director Punit Goenka and reconstituting the board. The case is listed for hearing at the Mumbai bench of the NCLT on Thursday.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| AFEL | General | 30-Sep-21 | VISHWARAJ | Stock Split;General | 30-Sep-21 |
| APOLLO | General | 30-Sep-21 | AMBITION | Quarterly Results | 01-Oct-21 |
| DHANVARSHA | General | 30-Sep-21 | APIL | Preferential Issue of shares | 01-Oct-21 |
| ESHAMEDIA | A.G.M. | 30-Sep-21 | DIVYAJYQ | A.G.M. | 01-Oct-21 |
| GBGLOBAL | General | 30-Sep-21 | GRINFRA | General | 01-Oct-21 |
| GENUSPAPER | General | 30-Sep-21 | KEDIACN | General | 01-Oct-21 |
| HINDEVER | Stock Split | 30-Sep-21 | LOHIASEC | Amalgamation | 01-Oct-21 |
| NAVBLDR | Issue Of Warrants | 30-Sep-21 | MCCHRLS-B | General | 01-Oct-21 |
| RELTD | General | 30-Sep-21 | NETTLINX | General | 01-Oct-21 |
| SANTETX | Issue Of Warrants | 30-Sep-21 | SUDTIND-B | Increase in Authorised Capital;General | 01-Oct-21 |
| SOFTSOL | General | 30-Sep-21 | UNIAUTO | Bonus issue;Increase in Auth. Capital | 01-Oct-21 |
| VAICC | A.G.M. | 30-Sep-21 | VIKASWSP | Quarterly Results | 01-Oct-21 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| CLEDUCATE | 30-Sep-21 | Stock Split From Rs.10/- to Rs.5/- | DCMSRMIND | 08-Oct-21 | Stock Split From Rs.10/- to Rs.2/- |
| UNIAUTO | 30-Sep-21 | Final Dividend – Rs. – 0.5000 | ASIANTILES | 11-Oct-21 | Final Dividend – Rs. – 0.5000 |
| ALPHALOGIC | 05-Oct-21 | Stock Split From Rs.10/- to Rs.5/- | JTLINFRA | 13-Oct-21 | Stock Split From Rs.10/- to Rs.2/- |
| ANUPAM | 06-Oct-21 | Stock Split From Rs.10/- to Rs.1/- | LANCER | 13-Oct-21 | Bonus issue 2:1 |
| AFFLE | 07-Oct-21 | Stock Split From Rs.10/- to Rs.2/- | ZEAL | 14-Oct-21 | Stock Split From Rs.10/- to Rs.1/- |
| UNISON | 07-Oct-21 | Bonus issue 4:1 | HCLTECH | 21-Oct-21 | Interim Dividend |
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