Morning-Outlook-Feature-Image
Outlook-04-10-2021

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

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