NIFTY:
The Nifty opened at 17531.9 with a gap down of 87 points. Prices fell further on the downside for the next one hour of trading and recorded its intraday low at 17452.90. The decline did not sustain afterward and prices have seen a sharp rally of almost 100 points to record its intraday high at 17557.15. Prices fell again from that high to almost its intraday low. All this happened in the first half while in the second half, the index again rose almost 100 points and finally closed at 17532.05 near the opening tick with a loss of 86 points. The Media and Pharma sectors outperformed and closed higher by nearly 1%. Realty underperformed the most and ended with a loss of 1.51%. Banks, Financials and IT also contributed to the downside. Nifty continued its lower closing streak for the fourth consecutive day and ended lower. The index continued to be volatile as we have seen four moves of 100 points, two were on the downside and two of them on the upside.
We have identified support around 17600 in the Nifty. The index broke down from this support decisively with a gap down opening and remained lower for the whole day.
BANK NIFTY:
Bank Nifty opened at 37140.40 with a big gap down of 271 points. The index initially went further on the downside and recorded its intraday low at 36873.35. Prices have recorded quickly and then started moving on the upside. Intraday movement was very volatile. Index recorded intraday high at 37299.40 and closed at 37225. PSU Banks have continued its outperformance and closed with a gain of 0.71%. On the other hand, Private Banks continued its underperformance and closed lower by 0.56%. Within the index, Bandhan Bank contributed highest while Federal Bank the lowest.
A short term support around 37300 broke down decisively. However prices managed to closed around that level.
TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| TVS MOTOR | 563.95 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 555 and for the target 580 |
| AMARARAJ | 766.8 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 758and for the target 782 |
DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| GRANULES | 330CE | BUY | 17.7 | CMP | 14.5 | 22.5 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| JSWSTEEL.21.10 Oct | 676.2 | 1.02 | 10414.37 | 45422100 | ICICIBANK.21.10 Oct | 695.15 | -0.97 | 6737.04 | 81224000 | |
| ADANIPORTS.21.10 Oct | 738.3 | 0.25 | 7282.93 | 88687500 | HDFC.21.10 Oct | 2719.8 | -1.31 | 6099.71 | 12870600 | |
| IBULHSGFIN.21.10 Oct | 235.7 | 1.86 | 5370 | 37305400 | CHOLAFIN.21.10 Oct | 561.5 | -0.63 | 5032.37 | 11098750 | |
| CUB.21.10 Oct | 159.1 | 0.76 | 4915.09 | 8239800 | TORNTPOWER.21.10 Oct | 504.05 | -0.38 | 4928 | 3771000 | |
| IPCALAB.21.10 Oct | 2422.55 | 0.55 | 4813.04 | 508500 | MPHASIS.21.10 Oct | 3042.65 | -2 | 4897.04 | 2192450 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI% | OI | Stocks | Price | Price % | OI % | OI | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Hindustan Unilever Ltd | 2704.05 | 0.08 | 956111 | 1156691 | 71.39 | Nifty Pharma | 14587.65 | 0.84 | 44337091 | |
| Tata Consultancy Serv Lt | 3730.2 | -1.2 | 1578374 | 1546273 | 68.65 | Nifty Media | 2154.3 | 0.75 | 300171440 | |
| Hdfc Life Insurance Comp | 729.45 | 0.98 | 1852758 | 2143789 | 66.25 | Nifty Energy | 23000.2 | 0.62 | 2129203 | |
| Britannia Ind Ltd. | 3921.1 | -0.71 | 181917 | 142975 | 65.74 | Nifty Metal | 5638.8 | 0.49 | 114573271 | |
| Hero Motocorp Limited | 2847.95 | 0.55 | 329726 | 598329 | 65 | Nifty Auto | 10596.95 | -0.01 | 60924953 | |
| Icici Lombard General In | 1582.55 | -0.44 | 953316 | 476361 | 64.97 | Nifty Fmcg | 40399 | -0.07 | 466612 | |
| Ambuja Cements Ltd | 402.25 | 0.51 | 4662848 | 6008319 | 64.52 | Nifty 50 | 17532.05 | -0.49 | 36784861 | |
| Hcl Technologies Ltd. | 1273.75 | -0.45 | 3372796 | 2297485 | 64 | Nifty Bank | 37225.9 | -0.53 | 17331897 | |
| Colgate Palmolive (india | 1687.8 | 1.1 | 225346 | 211208 | 63.58 | Nifty it | 34780.6 | -0.71 | 1012346 | |
| Maruti Suzuki India Ltd | 7162.3 | -2.4 | 901588 | 386633 | 61.79 | Nifty Realty | 506.05 | -1.51 | 1263841062 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Preliminary Trade Balance (Sep) on 4th October, 2021
INR: Nikkei Services PMI (Sep) on 5th October, 2021 |
•USD: Factory Orders (MoM) (Aug) on 4th October, 2021
•USD: ISM Non-Manufacturing PMI (Sep) on 5th October, 2021 |
NEWS UPDATES
|
•Anurag Mehrotra, who till recently was heading Ford India’s India operations as its managing director, has joined Tata Motors as vice president international business and strategy of the commercial vehicle business unit. A Tata Motors spokesperson confirmed. Following the restructuring announced by Ford, Mehrotra, 48, resigned from the firm on September 24. Ford is shutting down the manufacturing and sales of Ford’s existing range of cars as part of the restructuring. •TVS Motor Company on Friday reported a six per cent increase in total sales at 3,47,156 units for September. The company had dispatched a total of 3,27,692 units in the same month last year, TVS Motor Co said in a regulatory filing. Total two-wheeler sales were up 6 per cent at 3,32,511 units last month, against sales of 3,13,332 units in September 2020, it added. •ITC Hotel is set to launch a destination-led luxury brand called Mementos adding to its bouquet of five brands including the recently announced Storii. Mementos would be aimed at addressing the need for boutique luxury hotels across various destinations. The launch of the two new brands– Storii as a premium and Mementos, as a luxury one, is in line with the larger strategy of the hotel chain to offer a differentiated experience to the travellers, Anil Chadha, divisional chief executive, ITC Hotels. •Reliance Retail Ventures Limited (RRVL), the retail arm of Reliance Industries, has extended the long-stop date for completion of its ₹24,713 crore deal with Future Group by another six months to 31 March next year in view of the long-drawn-out legal battle with Amazon. Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| BODHTREE | General | 04-Oct-21 | QGO | General | 05-Oct-21 |
| CALCOM | Quarterly Results | 04-Oct-21 | STARHFL | Preferential Issue of shares | 05-Oct-21 |
| DSSL | General | 04-Oct-21 | ASITCFIN | General | 06-Oct-21 |
| GANESHBE | General | 04-Oct-21 | ASYAINFO | Quarterly Results | 06-Oct-21 |
| MANINFRA | Bonus issue;Interim Dividend | 04-Oct-21 | RACE | General | 06-Oct-21 |
| TPINDIA | A.G.M. | 04-Oct-21 | TRIVENIGQ | General | 06-Oct-21 |
| ASL | Increase in Authorised Capital | 05-Oct-21 | MEDICO | Bonus issue;Increase in Auth. Capital | 07-Oct-21 |
| BETALA | Quarterly Results | 05-Oct-21 | SYLPH | Quarterly Results | 07-Oct-21 |
| BLCISER | General | 05-Oct-21 | EARUM | Stock Split | 08-Oct-21 |
| BMBMUMG | General | 05-Oct-21 | ICSL | Quarterly Results | 08-Oct-21 |
| GARNETINT | General | 05-Oct-21 | KANELIND | Quarterly Results | 08-Oct-21 |
| LINCOPH | General | 05-Oct-21 | MISHTANN | Quarterly Results; Interim Dividend | 08-Oct-21 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| ALPHALOGIC | 05-Oct-21 | Stock Split From Rs.10/- to Rs.5/- | ASIANTILES | 11-Oct-21 | Final Dividend – Rs. – 0.5000 |
| ANUPAM | 06-Oct-21 | Stock Split From Rs.10/- to Rs.1/- | GENSOL | 11-Oct-21 | Bonus issue 1:3 |
| AFFLE | 07-Oct-21 | Stock Split From Rs.10/- to Rs.2/- | ADVITIYA | 13-Oct-21 | Bonus issue 44:10 |
| INDSOYA | 07-Oct-21 | Stock Split From Rs.10/- to Rs.5/- | DHANVARSHA | 13-Oct-21 | Stock Split From Rs.10/- to Rs.2/- |
| UNISON | 07-Oct-21 | Bonus issue 4:1 | JTLINFRA | 13-Oct-21 | Stock Split From Rs.10/- to Rs.2/- |
| DCMSRMIND | 08-Oct-21 | Stock Split From Rs.10/- to Rs.2/- | LANCER | 13-Oct-21 | Bonus issue 2:1 |
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 emailing 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, 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 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 or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL 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 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 or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL 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 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 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 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