The NIFTY opened at 17546.45 with a gap up of just 7 points. The index initially moved up sharply for the first 5 minutes of trading after recording its intraday low at 17540.35. Prices then lost momentum but kept on rising at a slower pace. The index recorded its intraday high at 17683.15 and then started moving sideways and narrowly. The index remained in a tight narrow range till the closing time and finally closed at 17665.80 near its daily highs with a gain of 126.35 points or 0.72% up. All the sectoral indices have participated on the higher side and closed with some gains. MEDIA led the bulls today by ending 2.75% higher followed by METAL which ended 1.67% higher. The index is going through a process of consolidation. This is normal as we have seen a sharp surge of more than 2500 points in July and August 2022. On the weekly timeframe chart, the index recorded a wide range of weeks. This could result in a narrow and choppy price movement for the coming week. We are also expecting that the index may spend a few weeks within a consolidation. Fresh trades will emerge either on a close above 17700 or on a close below 17400.
The BANK NIFTY opened at 39412.05 with a gap up of just 28 points. The index recorded its intraday low at 39407.40 just after the open and then moved sharply on the upside for the first 5 minutes of trading. Prices have kept on rising at a slower pace and recorded their intraday high at 39865.20. The index moved sideways and narrow afterwards and finally closed at 39754.54with a gain of 370 points. PVT BANKS and PSU BANKS both have performed almost the same today, saw an upside move, and closed with a gain of 1.12%& 0.95% respectively. Within the index, in terms of points, ICICIBANK contributed the highest on the upside followed by HDFC BANK. BANK NIFTY started the week with some gains and closed higher by almost 1%. We have mentioned a trading range inside the 38000 – 39800 zone. The range remained intact and prices are now trading near the upper range. The short-term trend is sideways but the biases are mildly bullish. As of now, we do not have an adequate setup that could suggest a trade. For the time being, we should step aside and avoid trading the index. Fresh trading opportunities will emerge if the index breaks and close above 39800 resistance or saw a sharp dip to Nards 38000 support levels. As far as prices are moving within these boundaries, we should shift our focus to intraday only.
|RELIANCE||2569.8||BUY||The stock has taken support at the lower level and then bounces. The stock can be bought at 2576.55 with a stop loss of 2560 and a target of 2601.|
|GSPL||233.7||SELL||The stock has breakdown its trend line towards the downside, One should be sold at CMP for the target of 230.45 with SL of 235.15.|
|Stock Name||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|EXIDEIND.22.09 Sep||173.5||8.3||30.59||29124000||LALPATHLAB.22.09 Sep||2333.5||-2.93||2.81||1144250|
|IDFCFIRSTB.22.09 Sep||51.2||4.92||8.51||157785000||ESCORTS.22.09 Sep||2016||-2.77||2.57||1559800|
|INDHOTEL.22.09 Sep||311.8||4.72||6.23||23440216||ABB.22.09 Sep||3307.05||-2.07||8.98||1223000|
|IDEA.22.09 Sep||9.4||4.44||0.68||613130000||GODREJCP.22.09 Sep||899.45||-2.06||2.34||6474000|
|Short Covering||Long Unwinding|
|HINDALCO.22.09 Sep||429.25||3.23||-3.13||24979775||INDIAMART.22.09 Sep||4667||-2.22||-2.36||410400|
|JINDALSTEL.22.09 Sep||424.4||1.71||-0.84||28151250||IRCTC.22.09 Sep||711.45||-0.31||-0.46||12247375|
|NTPC.22.09 Sep||165.1||1.63||-1.18||97606800||MOTHERSON.22.09 Sep||126.1||-0.04||-0.25||44073000|
TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Honeywell Auto India Ltd||41954.05||-0.59||3718||0||80.43||Niftybank||39805.75||0.98||89916|
|Bajaj Auto Limited||3956.65||-1.84||799837||0||72.46||India Vix||19.66||0.58||89916|
|Atul Ltd.||9195.55||-0.28||21535||0||72.35||Nifty Fmcg||43755.85||0.2||89913|
|Power Grid Corporation o||223.4||-0.36||13541606||0||70.87||Nifty Pharma||12565.55||0.47||89913|
|Torrent Pharma Ltd.||1520.75||0.06||139400||0||70.4||Nifty Realty||471.5||0.89||89913|
|Dabur India Ltd.||570.1||-0.11||686752||0||69.92||Nifty Auto||13246.1||0.19||89913|
|Rec Limited||106.25||-0.84||3723607||0||68.55||Nifty Metal||5985.75||1.67||89913|
|Cipla Ltd||1025.65||0.99||1275368||0||62.68||Nifty Financial Services||18264.9||0.65||89913|
UPCOMING ECONOMIC DATA
|INR: Bank Loan Growth on 09th September, 2022
INR: FX Reserves, USD on 09th September, 2022
| USD : ISM Non-Manufacturing PMI (Aug) on 06th September, 2022
USD : FOMC Member Mester Speaks on 07th September, 2022
India’s stock benchmarks rose, aided by gains in metal, banking, realty stocks and extended gains for the second day in a row. The Sensex added 443 points (0.75%) to 59,245.98. The 30-stock gauge rose over 500 points during the session. The Nifty 50 also gained 0.7% to 17,665.80. On Monday, 36 of Nifty 50 stocks rose while 14 fell. Hindalco, JSW Steel, NTPC, ITC, Sun Pharma, RIL, L&T were among the top gainers.
Hero MotoCorp-backed Ather Energy is gearing up for its biggest ever fundraising round as the leading electric scooter maker is now looking to mop up as much as $200 million to $250 million and take on rivals like Ola Electric, Hero Electric, Okinawa Autotech and TVS Motors, multiple industry sources with knowledge of the matter told Moneycontrol.
Shares of One 97 Communications Ltd., the operator of digital payments platform Paytm, declined after the Enforcement Directorate conducted searches at premises of several payment firms in Bengaluru. Search operations were carried out on Sept. 2 in connection with Chinese loans app case, according to a press release by the investing agency.
Oil surged on the possibility that OPEC+ may decide to trim production, and as Europe’s energy crisis worsened after the Group-of-Seven nations endorsed a plan to try to cap the price of Russian crude. West Texas Intermediate advanced above $88 a barrel after sinking by almost 7% last week on concerns that slowing global growth and anti-virus lockdowns in China would hurt demand.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Meeting Date||Company Name||Purpose||Meeting Date|
|ARAMBHAN||A.G.M.;Audited Results;Half Yearly Results;General||06-Sep-22||ORIENTTR||Issue Of Warrants;General||06-Sep-22|
|CONFIPET||A.G.M.;Issue Of Warrants;General;Preferential Issue of shares||06-Sep-22||RANJEET||A.G.M.;Issue Of Warrants||06-Sep-22|
|DUCON||General||06-Sep-22||SAMOR||A.G.M.;Issue Of Warrants||06-Sep-22|
|ESARIND||Increase in Authorised Capital;General;Preferential Issue of shares;A.G.M.||06-Sep-22||STDSFAC||General||06-Sep-22|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|BANCOINDIA||06-Sep-22||Dividend Rs. 20||NRBBEARING||07-Sep-22||Final Dividend Rs. 2|
|DHARAMSI||06-Sep-22||Final Dividend Rs. 1||RAINBOW||07-Sep-22||Final Dividend Rs. 2|
|DRAGARWQ||06-Sep-22||Final Dividend Rs. 3||APCL||08-Sep-22||Final Dividend Rs. 3|
|ESCORP||06-Sep-22||Bonus issue 2:3||APOLLO||08-Sep-22||Final Dividend Rs. 0.25|
|GAIL||06-Sep-22||Bonus issue 1:2||ASHIANA||08-Sep-22||Final Dividend Rs. 0.5|
|HALDYNGL||06-Sep-22||Dividend Rs. 0.60||BAJAJST||08-Sep-22||Dividend Rs. 2|
|KAMDHENU||06-Sep-22||Spin Off||BANSWRAS||08-Sep-22||Split Rs.10/- to Rs.5/-|
|SUDTIND-B||06-Sep-22||Right Issue||BELLACASA||08-Sep-22||Final Dividend Rs. 0.91|
|VINATIORGA||06-Sep-22||Dividend Rs. 6.50||BEML||08-Sep-22||Spin Off|
|VIPULORG||06-Sep-22||Final Dividend Rs. 0.90||DECCANCE||08-Sep-22||Final Dividend Rs. 5|
|ACRYSIL||07-Sep-22||Final Dividend Rs. 1.2||DEEPIND||08-Sep-22||Final Dividend Rs. 1.85|
|ASAHIINDIA||07-Sep-22||Dividend Rs. 2||ELECTCAST||08-Sep-22||Final Dividend Rs. 0.80|
|CHEMFABALKA||07-Sep-22||Dividend Rs. 1.25||GULFOILLUB||08-Sep-22||Dividend Rs. 5|
|DIANATEA||07-Sep-22||Dividend Rs. 0.5||IRCON||08-Sep-22||Final Dividend Rs. 0.65|
|JINDRILL||07-Sep-22||Dividend Rs. 0.50||JKIL||08-Sep-22||Dividend Rs. 3|
|KLRFM||07-Sep-22||Dividend Rs. 1.80||JYOTIRES||08-Sep-22||Bonus issue 2:1|
|MAHSEAMLES||07-Sep-22||Dividend Rs. 5||KIOCL||08-Sep-22||Final Dividend Rs. 0.79|
|METROGLOBL||07-Sep-22||Dividend Rs. 2||KRBL||08-Sep-22||Final Dividend Rs.3.50|
|NIRLON||07-Sep-22||Final Dividend Rs. 11||LEHIL||08-Sep-22||Final Dividend Rs.0.50|
|NITINSPIN||07-Sep-22||Dividend Rs. 2.50||MASTEK||08-Sep-22||Final Dividend Rs. 12|
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