Outlook-31-08-2021NIFTY:

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:

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.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
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

 

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DERIVATIVE PICKS

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
LICHSGFIN.21.09 Sep 390.5 2.74 -3.4 22624000
AMARAJABAT.21.09 Sep 696.5 1.71 -3.27 7743000
MRF.21.09 Sep 78379.95 1.37 -2.7 42510

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
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

   Domestic                                                                                                                                                  International
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

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News Updates

•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

Board Meetings

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ADITYA A.G.M.;General 31-Aug-21 DHARSUGAR Quarterly Results 31-Aug-21
AFEL A.G.M.;Audited Results;General 31-Aug-21 GANHOLD A.G.M. 31-Aug-21
AGIIL A.G.M.;General 31-Aug-21 GILADAFINS A.G.M. 31-Aug-21
AGIOPAPER A.G.M.;General 31-Aug-21 GUJINV A.G.M. 31-Aug-21
AJEL A.G.M.;Quarterly Results 31-Aug-21 INDSUCR Quarterly Results 31-Aug-21
APTECHT General 31-Aug-21 KAJALSY A.G.M. 31-Aug-21
BALUFORGE A.G.M.;General 31-Aug-21 KPEL A.G.M. 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
CHOTHANI A.G.M. 31-Aug-21 MANOMAY A.G.M. 31-Aug-21
DEVITRD General 31-Aug-21 MARVINY A.G.M. 31-Aug-21
DHAMPURE General 31-Aug-21 MEENST A.G.M. 31-Aug-21

Corporate Action

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

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