NIFTY:
The Nifty opened at 17615.55 with a gap up of 83 points. The index recorded its intraday low at 17581.35 within the first 5 minutes of trading and then rallied further on the upside. Prices have recorded its intraday high at 17750.90 and then saw a sharp correction. That correction found strong support around 17650 and then the index continued moving above this level for the rest of the day. In the second half the index moved sideways and narrow within the first two hours of range and finally closed at 17691.25 with a gain of 159.20 points. All the sectoral indices have participated in the up move.
The Nifty broke its four days of lower closing streak by closing higher near 17700. We have mentioned a large trading range on the weekly chart with support around 17250-17300 and resistance at 17950-18000. This range has remained intact so far. On the 30 minutes chart time frame, Nifty is forming a bullish head and shoulder pattern. The neckline for this pattern is visible around 17750. A breakout above this level will confirm this pattern. We should look to buy above 17750 with a stop at 17650 and a target of 17950. Intraday traders can look to short below 17650.
BANK NIFTY:
Bank Nifty opened at 37392.15 with a gap up of 163 points, The index recorded its intraday low at 37355.6 within the first five minutes of trading and then rallied further.
Prices have recorded its intraday high at 37670.7 around 11.00 AM and then spent the rest of the day moving sideways. PSU Banks have continued its outperformance and closed with a gain of more than 2%. Private Banks have also seen a rally and closed higher near 1%. Within the index, SBIN contributed highest while Kotak Bank the lowest. Bank Nifty continued its bullish momentum started ed on Friday.
Look to buy the index above the high of the first 15 minutes keep a stop of 250 points and target of 600 points.
TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| HINDALCO | 505.7 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 497 and for the target 515 |
| APOLLOHOSP | 4548 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 4490 and for the target 4640 |
DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| NALCO | 106 CE | BUY | 6.5 | CMP | 5.7 | 8 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| ASTRAL.21.10 Oct | 2378.95 | 7.66 | 50.52 | 713625 | CUMMINSIND.21.10 Oct | 897 | -2.4 | 42.21 | 3070800 | |
| IRCTC.21.10 Oct | 4084.4 | 7.21 | 44.74 | 2725125 | DIXON.21.10 Oct | 4863.5 | -0.32 | 24.43 | 553250 | |
| AARTIIND.21.10 Oct | 1029 | 8.69 | 32.9 | 3412750 | METROPOLIS.21.10 Oct | 2739.6 | -0.05 | 20.15 | 592600 | |
| NATIONALUM.21.10 Oct | 104.95 | 9.38 | 22.53 | 110585000 | INDUSTOWER.21.10 Oct | 303 | -4.05 | 19.97 | 12616800 | |
| SRF.21.10 Oct | 11641 | 4.84 | 18.73 | 825000 | ICICIGI.21.10 Oct | 1577.5 | -0.73 | 14.35 | 2583575 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI% | OI | Stocks | Price | Price % | OI % | OI | |
| BANKNIFTY.21.10 Oct | 37755 | 1.07 | -4.45 | 1934500 | RBLBANK.21.10 Oct | 194.3 | -0.08 | -0.78 | 23197100 | |
| LICHSGFIN.21.10 Oct | 446.1 | 3.7 | -3.92 | 17188000 | BALKRISIND.21.10 Oct | 2532 | -0.87 | -0.23 | 1596400 | |
| TORNTPHARM.21.10 Oct | 3139.9 | 1.8 | -3.48 | 651000 | MGL.21.10 Oct | 1098 | -0.22 | -0.02 | 2983200 | |
| MRF.21.10 Oct | 79859.85 | 0.58 | -1.74 | 47440 | ||||||
| RAMCOCEM.21.10 Oct | 1010.95 | 1.59 | -1.67 | 1951600 | ||||||
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Infosys Limited | 1678.75 | 0.82 | 2947154 | 4139955 | 72.2 | Nifty Metal | 5807.35 | 2.99 | 97491 | |
| Hdfc Bank Ltd. | 1585.75 | 0.19 | 3525514 | 3862291 | 69.41 | Nifty Media | 2210.35 | 2.6 | 97491 | |
| Hindustan Unilever Ltd | 2686.2 | -0.66 | 1025005 | 619471 | 64.79 | Nifty Realty | 517.05 | 2.17 | 97491 | |
| Piind | 3173.1 | 2.34 | 410941 | 278967 | 64.52 | Nifty Pharma | 14812.4 | 1.54 | 97491 | |
| Dabur India Ltd. | 624.2 | 1.01 | 2158448 | 992649 | 63.49 | Nifty Energy | 23334.6 | 1.45 | 97491 | |
| Icici Bank Ltd. | 700.2 | 1.13 | 8976533 | 6651302 | 60.82 | Nifty it | 35126.15 | 0.99 | 97491 | |
| Balkrishna Ind. Ltd | 2520.8 | -0.81 | 217508 | 241476 | 60.03 | Nifty Bank | 37579.65 | 0.95 | 97491 | |
| Hcl Technologies Ltd. | 1278.65 | 0.38 | 2706626 | 2006146 | 59.48 | Nifty 50 | 17691.25 | 0.91 | 97491 | |
| Voltas Ltd. | 1227.25 | 0.99 | 526778 | 447771 | 58.49 | Nifty Auto | 10641.15 | 0.42 | 97491 | |
| Tata Consultancy Serv Lt | 3773.3 | 1.16 | 1356860 | 916682 | 58.08 | Nifty Fmcg | 40445.45 | 0.11 | 97491 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Nikkei Services PMI (Sep) on 5th October, 2021
INR: RBI Interest Rate Decision on 8th October, 2021 |
•USD: ISM Non-Manufacturing PMI (Sep) on 5th October, 2021
•USD: API Weekly Crude Oil Stock on 6th October, 2021 |
NEWS UPDATES
|
•Invesco Developing Markets Fund, which moved the National Company Law Tribunal (NCLT) against Zee Entertainment Enterprises for delay in holding an extraordinary general meeting (EGM), asked the tribunal on Monday to pass a “mandatory order” directing Zee to call for an EGM as requisitioned by it. Invesco also sought the appointment of a retired high court judge, under who chairmanship the EGM can be held. •Max Healthcare Institute on Monday said it plans to invest around Rs 1,600 crore to expand its capacity in the national capital region by adding around 1,000 beds in Gurugram, Haryana. The company, “is further fortifying its presence and expanding its bed capacity in NCR by addition of two hospitals of around 500 beds each in Gurugram,” Max Healthcare Institute said in a regulatory filing. •Coal India Ltd supplied 117.6 million tonnes (MT) of coal to power utilities during July-September of the current fiscal, registering a growth of 12.3 per cent. “Coal India Ltd (CIL) supplied 117.6 million tonnes to power utilities during July- September 2021 quarter, the highest for Q2 of any year, posting 12.3 per cent growth,” the PSU said in a statement. •Reserve Bank of India (RBI) has superseded the boards of Srei Infrastructure Finance and Srei Equipment Finance, announced a statement from the central bank on Monday. The apex lender said that the action was taken in light of governance concerns and defaults by the two companies. The insolvency proceedings against the two companies will be initiated soo, RBI said. Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ASL | General;Increase in Auth. Capital | 05-Oct-21 | INOXWIND | General | 06-Oct-21 |
| BETALA | Quarterly Results | 05-Oct-21 | RACE | General | 06-Oct-21 |
| BLCISER | General | 05-Oct-21 | TRIVENIGQ | General | 06-Oct-21 |
| BMBMUMG | General | 05-Oct-21 | INDITALIA | General | 07-Oct-21 |
| DESHRAK | General | 05-Oct-21 | INTELSOFT | Quarterly Results | 07-Oct-21 |
| GARNETINT | General | 05-Oct-21 | LLOYDSME | General | 07-Oct-21 |
| LINCOPH | General | 05-Oct-21 | MEDICO | Bonus issue;Increase in Auth. Cap. | 07-Oct-21 |
| QGO | General | 05-Oct-21 | SYLPH | Quarterly Results | 07-Oct-21 |
| STARHFL | Preferential Issue of shares | 05-Oct-21 | CGVAK | General | 08-Oct-21 |
| 7SEASL | Preferential Issue of shares | 06-Oct-21 | EARUM | Stock Split | 08-Oct-21 |
| ASITCFIN | General | 06-Oct-21 | ICSL | Quarterly Results | 08-Oct-21 |
| ASYAINFO | Quarterly Results | 06-Oct-21 | KANELIND | Quarterly Results | 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 44100 |
| 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 | INFRATRUST | 13-Oct-21 | Income Distribution (InvIT) |
| DCMSRMIND | 08-Oct-21 | Stock Split From Rs.10/- to Rs.2/- | JTLINFRA | 13-Oct-21 | Stock Split From Rs.10/- to Rs.2/- |
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