Morning-Outlook-Feature-Image

Outlook-05-10-2021

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/-

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

FILING COMPLAINTS ON SCORES - EASY & QUICK

a. Register on SCORES portal

b. Mandatory details for filing complaints on SCORES:
i. Name, PAN, Address, Mobile Number, E-mail ID

c. Benefits:
i. Effective communication
ii. Speedy redressal of the grievances

SEBI : https://www.scores.gov.in/scores/complaintRegister.html