Morning-Outlook-Feature-Images
Outlook-30-09-2021

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

  • 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.

  • 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.

  • 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.

  • 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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