Outlook-06-09-2021NIFTY:

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:

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.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
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

 

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DERIVATIVE PICKS

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

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TOP DELIVERY PERCENTAGE

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

UPCOMING ECONOMIC DATA

   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

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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

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