The Nifty opened at 16775.85 with a gap up of 70 points. The index recorded its intraday low at 16764.85 a few ticks below the opening price and then rallied. The rally continued for the whole day. Minor dips quickly bought into and prices have recorded its intraday high at 16951.50. The index finally closed at 16931.05 with a gain of 225.85 points. All the sectoral indices have closed in gain except the IT. The Metals and Banks have performed better and ended with a gain of more than 2%.
We had suggested a trade on the long side. The trade was to buy the index above 16750. In case of a gap up above 16750 apply the first 15 minutes rule. Keep a stop of 60 points and a target of 140 points from your entry. The Nifty opened above 16750 waited for the first 15 minutes of high. The high was recorded at 16830 and then prices took out that high within the next few minutes, so went long there. Stay long for the target of 16970 and move your stop to breakeven 16830.
It was a trend day on the upside. We have been anticipating a sharp move this week. The index started with some handsome gains and ended at record levels.
Bank Nifty opened at 35781.05 with a gap up of 164 points. The index recorded its intraday low at 35721.90 and then rallied. Prices have continued its bullish momentum for the whole day, recorded its intraday high at 36398.45 and closed with a gain of more than 700 points. Private and PSU Banks both have seen an intraday rally and closed higher with a gain of 2%. Within the index, Axis Bank contributed highest followed by ICICI Bank.
We suggested a trade to buy the index above 35900 with a stop of 300 points a target of 600 points. Our long trade got executed around 10:00 AM. Stay long for target of 36500 and stop at 35900.
Trade AnyTime AnyWhere With Elite Empower Mobile App
|BHARTI AIRTEL||620.45||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 613 and for the target 630|
|TRENT||991||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 980 and for the target 1010|
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|
|CONCOR||680 CE||BUY||24.10||CMP||20||30||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|FINNIFTYW.21.09 Sep||17893||2.51||75||280||BALKRISIND.21.09 Sep||2286.95||-0.38||14.01||1366800|
|TORNTPOWER.21.09 Sep||492.5||0.49||26.84||3828000||INFY.21.09 Sep||1704.5||-0.68||5.8||29352600|
|BANKNIFTY.21.09 Sep||36521.7||2.23||18.12||1784275||TCS.21.09 Sep||3716||-0.24||5.45||10093800|
|GODREJCP.21.09 Sep||1088.05||2.82||15.47||5502000||NESTLEIND.21.09 Sep||19824.35||-1.02||5.36||403800|
|COFORGE.21.09 Sep||5143.15||1.22||14.22||718000||IDEA.21.09 Sep||5.95||-2.46||4.83||341530000|
|Short Covering||Long Unwinding|
|Stocks||Price||Price%||OI%||OI||Stocks||Price||Price %||OI %||OI|
|SRF.21.09 Sep||9741.95||2.96||-5.11||624500||MPHASIS.21.09 Sep||2810||-1.41||-3.03||1144000|
|METROPOLIS.21.09 Sep||2797.2||2.34||-4.67||286000||BEL.21.09 Sep||183.7||-0.62||-0.15||23301600|
Get Stock Market Recommendation By Our Research Analysts
TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Kotak Mahindra Bank Limi||1735.85||1.3||2561253||2708467||73.98||Nifty Metal||5628.1||2.47||77154|
|Infosys Limited||1698.05||-0.63||6559667||4706891||70.27||Nifty Bank||36347.65||2.02||77154|
|Astral Limited||2006||1.21||348055||305349||70.23||Nifty Pharma||14222.5||1.96||77154|
|Maruti Suzuki India Ltd||6796.9||2.6||819447||998109||69.88||Nifty Realty||384.55||1.94||77154|
|Colgate Palmolive (india||1699.15||2.63||753854||365947||69.07||Nifty Auto||9957.9||1.68||77154|
|City Union Bank Ltd.||151.9||2.43||2171131||2244186||66.25||Nifty Energy||20243.65||1.51||77154|
|Icici Prudential Life In||659||0.43||2694191||1974695||65.73||Nifty 50||16931.05||1.35||77154|
|Tata Consultancy Serv Lt||3701.3||-0.51||2033114||2524643||64||Nifty Fmcg||39150.2||0.85||77154|
|Hcl Technologies Ltd.||1163.4||0.04||2956868||1933525||63.38||Nifty Media||1603.65||0.64||77154|
|Petronet Lng Limited||230.3||1.08||2678943||1629662||62.85||Nifty it||34109.25||-0.58||77154|
UPCOMING ECONOMIC DATA
|INR: GDP Quarterly (YoY) (Q1) on 31st August, 2021
INR: Infrastructure Output (YoY) (Jul) on 31th August, 2021
|•USD: CB Consumer Confidence (Aug) on 31st August, 2021|
|•Telecom operator Bharti Airtel’s chairman Sunil Mittal on Monday said the company won’t shy away from raising tariffs. Mittal was speaking with investors a day after Airtel’s board approved raising up to Rs 21,000 crore by way of rights issue, at a price of Rs 535 per share. The mega fundraising is bound to give more firepower to Airtel, as the company takes on rivals in the fiercely-competitive Indian telecom market.
•Auto components maker Steel Strips Wheels Limited has signed a pact with Tata Steel Long Products to supply round bars of various grades. These products will target automotive customers in India, Steel Strips Wheels Limited (SSWL) said in a regulatory filing. The supplies from the company’s Saraikela Plant, in Jharkhand, will start from October 2021, SSWL said.
•With Coal India having significantly reduced coal supplies and rail rakes for captive power plants (CPPs), domestic aluminium industry is staring at a meager three-five days coal inventory. “Despite the FSA (Fuel Supply Agreement), we face this issue of coal supply cut from Coal India almost every monsoon. 2018 and 2019 was no different. What is the purpose of FSA then?” said an aluminium industry official on condition of anonymity.
•Larsen and Toubro’s construction arm, L&T Construction, has won a slew of orders in India and abroad for its various businesses. The buildings and factories business has secured an order to construct multilevel parking and advocates chamber for the high court at Allahabad with an approximate built-up area of 20 lakh square feet.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|AJEL||A.G.M.;Quarterly Results||31-Aug-21||INDSUCR||Quarterly Results||31-Aug-21|
|BPCAP||A.G.M.;Preferential Issue of shares||31-Aug-21||KPIGLOBAL||A.G.M.||31-Aug-21|
|CERA||General||31-Aug-21||MADHAVIPL||Preferential Issue of shares||31-Aug-21|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|ADVENZYMES||31-Aug-21||Final Dividend – Rs. – 0.90||PREMCO||31-Aug-21||Interim Dividend – Rs. – 3.00|
|ASHOKLEY||31-Aug-21||Final Dividend – Rs. – 0.60||ROSSELLIND||31-Aug-21||Final Dividend – Rs. – 0.30|
|CENTURYPLY||31-Aug-21||Final Dividend – Rs. – 1.00||BANARISUG||01-Sep-21||Dividend – Rs. – 10.00|
|GALAXYSURF||31-Aug-21||Final Dividend – Rs. – 4.00||GEECEE||01-Sep-21||Dividend – Rs. – 1.90|
|INDIACEM||31-Aug-21||Dividend – Rs. – 1.00||JBCHEPHARM||01-Sep-21||Final Dividend – Rs. – 8.00|
|PFC||31-Aug-21||Interim Dividend – Rs. – 2.2500||JOSTS||01-Sep-21||Final Dividend – Rs. – 3.00|
|PODARPIGQ||31-Aug-21||Final Dividend – Rs. – 2.50||KPRMILL||01-Sep-21||Final Dividend – Rs. – 0.7500|