The Nifty opened at 17262.45 with a gap up of 28 points. The index first rallied and moved above 17300. However prices did not sustain there and started drifting downwards. Prices have seen a sharp decline of more than 100 points and recorded its intraday low at 17212.2. The index bounced up from that low and then broke morning highs. The index recorded its intraday high 17340.10 and finally closed at 17323.60 with a gain of 89.45 points. Media, Metal, Realty and  Auto outperformed and ended with a gain of more than 1%. Bank, Financial and FMCG underperformed and ended with a loss.

Nifty continued its up move and ended with a gain above 17300 at record levels. The intraday movement was very volatile as prices have seen a swing of more than 100 points in both directions. The index continued recording lifetime new highs and the high was 17340. The Nifty registered with a gain of more than 600 points this week.

Since the index is trading in an uncharted territory so we do not have any visible resistance. But 17500 will be a psychological resistance.


Bank Nifty opened at 36883.65 without much of a gap. The index first saw a sharp rally of almost 250 points and recorded its intraday high at 37140. However the index did not sustain there and started moving downwards to record its intraday low at 36563.20. Prices have seen some recovery in the last hour of trading. PSU Banks have outperformed and closed with a gain 0.71%. Private Banks have seen an underperformance and ended lower by 0.21%. Within the index, Kotak Bank contributed highest while HDFC Bank the lowest.

Prices moved in both directions but closed below the psychological resistance at 37000.

Trade AnyTime AnyWhere With Elite Empower Mobile App



BHEL 55.45 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 54 and for the target 58
RELIANCE 2388 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 2360 and for the target 2430


Get All Your Mutual Fund Portfolio Returns on Your Mobile by Elite Kuber App



STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
ONGC 125 CE BUY 2.7 CMP 1.8 4 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
MCX.21.09 Sep 1602.7 3.27 63.71 1734950 IEX.21.09 Sep 541.55 -4.84 21.6 6452500
OFSS.21.09 Sep 4767.4 0.62 29.81 262875 DIXON.21.09 Sep 4257.25 -1.26 21.01 345625
NATIONALUM.21.09 Sep 93.15 4.78 14.07 102425000 AARTIIND.21.09 Sep 911.35 -1.48 17.76 3861550
ONGC.21.09 Sep 121.8 3.88 13.3 57049300 CANFINHOME.21.09 Sep 588.3 -0.05 17.26 1682850
BEL.21.09 Sep 198.45 4.42 11.1 27341000 ASHOKLEY.21.09 Sep 121.15 -0.74 15.17 45859500
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
TVSMOTOR.21.09 Sep 540.8 1.77 -12.01 4645200 CUMMINSIND.21.09 Sep 1026.7 -1.47 -7.96 2350800
COALINDIA.21.09 Sep 146.9 3.45 -5.93 46141200 IBULHSGFIN.21.09 Sep 231.55 -0.52 -4.93 37162800
POLYCAB.21.09 Sep 2231.9 0.81 -5.8 389700 NAUKRI.21.09 Sep 6207.2 -1.39 -3.07 986875
UBL.21.09 Sep 1575.55 0.64 -5.54 1670900 TRENT.21.09 Sep 1000 -0.45 -2.92 1375325
HEROMOTOCO.21.09 Sep 2804.5 2.59 -5.38 4404600 M&MFIN.21.09 Sep 165.85 -0.48 -2.83 29276000

Get Stock Market Recommendation By Our Research Analysts



Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Power Grid Corporation o 175.55 -0.11 9214857 7642927 75.23 Nifty Energy 20934 2.29 2484574
Icici Prudential Life In 697.75 3.2 5187411 4766514 74.56 Nifty Media 1639.75 1.48 388336522
Astral Limited 2100.3 -0.37 276936 342186 73.43 Nifty Metal 5719.35 1.17 111510223
Hcl Technologies Ltd. 1174.75 0.17 4533364 3688291 70.6 Nifty Realty 417.85 1.06 1521195339
Petronet Lng Limited 229.8 1.17 1801480 1432228 70 Nifty Auto 10124.75 1.02 62903221
Infosys Limited 1700.65 0.68 5339139 4566165 66.85 Nifty it 34891.15 0.61 1159297
Hdfc Bank Ltd. 1576.05 -0.81 5367667 3165332 65.82 Nifty 50 17323.6 0.52 36787798
Tech Mahindra Limited 1441.95 0.29 1919590 2482949 64.31 Nifty Pharma 14485.65 0.19 43899930
Ntpc Limited 117 0.43 9364904 3608583 63.3 Nifty Fmcg 40226.25 -0.17 590116
Kotak Mahindra Bank Limi 1791.85 0.87 4845134 3572436 61.98 Nifty Bank 36761.15 -0.19 17266118


   Domestic                                                                                                                                                  International
INR: Industrial Production (YoY) (Jul) on 10th September, 2021

INR: Deposit Growth  and Bank Loan Growth on 10th September, 2021

•USD: Initial Jobless Claims on 9rd September, 2021

•USD: Crude Oil Inventories on 9th September, 2021

Open Your Demat Account to Invest in Upcoming IPO’sDemat-and-Trading-Account-Promotion-Banner

News Updates

•Franklin Templeton Mutual Fund has said it received a payment of nearly Rs 149 crore from Vodafone Idea Ltd as interest on its securities investment, which will be distributed among investors of the segregated portfolios. “The interest amounting to Rs 148.75 crore due from Vodafone Idea Ltd on September 3, 2021 for the security (Non-convertible debenture /NCD) held in the segregated portfolio of five schemes has been received,” a Franklin Templeton MF spokesperson said.

•Life Insurance Corporation (LIC), the state-owned behemoth, has picked up nearly 4% equity shares in state-owned Bank of India through an open market transaction, the bank said on Friday.  LIC has picked up nearly 3.9% (15,90,07,791 shares) of the bank through open market acquisition on September 2, 2021, BoI said in a regulatory filing.

•Stating that Reliance Industries (RIL) “will aggressively pursue” the target of bringing down the cost of green hydrogen to under $2 per kg “well before the turn of this decade”, chairman Mukesh Ambani said on Friday “India can set an even more aggressive target of achieving under $1 per kg within a decade”.

•India’s state-owned Oil & Natural Gas Corp has been excluded from the world’s biggest sovereign wealth fund, due to the “unacceptable risk that the company is contributing to serious violations of the rights of individuals” in its joint ventures with South Sudan’s national oil company Nile Petroleum Corporation.

•To increase textiles exports by up to three-fold to $100 billion at the earliest, the Centre is in talks with state governments to help businesses get land, power and other utilities at attractive rates to set up mega textile parks, trade and textiles minister Piyush Goyal said on Friday.

Source: Economic Times,  Indian Express  ,Business Today, Livemint, Business Standard, Bloomberg Quint

Board Meetings

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AARTECH A.G.M. 06-Sep-21 NOL A.G.M. 06-Sep-21
ALPHA Quarterly Results 06-Sep-21 NTL A.G.M. 06-Sep-21
AMTEKAUTO Audited Results 06-Sep-21 NUVOCO Quarterly Results 06-Sep-21
EBFL A.G.M. 06-Sep-21 PRADHIN General 06-Sep-21
HANMAN A.G.M. 06-Sep-21 RAJOIL A.G.M. 06-Sep-21
INDITALIA A.G.M. 06-Sep-21 STDSHOE General 06-Sep-21
INNOVTEC A.G.M.;General 06-Sep-21 SVPGLOB A.G.M. 06-Sep-21
INTELLADV A.G.M.;General 06-Sep-21 SYMBIOX General 06-Sep-21
KIRANPR A.G.M.;General 06-Sep-21 TARINI A.G.M.;General 06-Sep-21
LOOKS A.G.M.;General 06-Sep-21 VCU A.G.M.;General 06-Sep-21
MRP A.G.M. 06-Sep-21 VIVIMEDLAB Issue Of Warrants;Pref. Issue 06-Sep-21
NATIONALUM Final Dividend;General 06-Sep-21 YASHCHEM A.G.M. 06-Sep-21

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
CHEMCRUX 06-Sep-21 Bonus issue 2:1 ENGINERSIN 06-Sep-21 Final Dividend – Rs. – 0.60
SUBROS 06-Sep-21 Dividend – Rs. – 0.70 HERANBA 06-Sep-21 Final Dividend – Rs. – 0.70
SHYAMMETL 06-Sep-21 Dividend – Rs. – 2.70 DUTRON 06-Sep-21 Final Dividend – Rs. – 1.20
ALBERTDA 06-Sep-21 Dividend – Rs. – 6.00 BHARATRAS 06-Sep-21 Final Dividend – Rs. – 1.50
TRANSPEK 06-Sep-21 Dividend – Rs. – 7.50 PIIND 06-Sep-21 Final Dividend – Rs. – 2.00
ORIRAIL 06-Sep-21 Final Dividend – Rs. – 0.20 DECCANCE 06-Sep-21 Final Dividend – Rs. – 5.00

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 e-mailing 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, advisory 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 Advisory 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 Advisory or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL Advisory 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 Advisory 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 Advisory or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL Advisory or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL Advisory 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 Advisory 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 Advisory 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 Advisory 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 Advisory
Provided that research analyst or research entity shall not be required to make a disclosure as per sub-clauses (c), (d) and (e) of clause (ii) or sub-clauses (a) and (b) of clause (iii) to the extent such disclosure would reveal material non-public information regarding specific potential future investment banking or merchant banking or brokerage services transactions of the subject company.
(4) EWL Advisory or its proprietor has never served as an officer, director or employee of the subject company;
(5) EWL Advisory has never been engaged in market making activity for the subject company;
(6) EWL Advisory shall provide all other disclosures in research report and public appearance as specified by the Board under any other regulations.