NIFTY:
The Nifty opened at 17861.50 with a gap up of 39 points. The index first consolidated for the first half of trading and recorded its intraday high at 17884.60. In the second half, prices broke down from the consolidation and started a downside move. That move continued till the market closed and the index recorded its intraday low at 17613.15. Prices have finally closed at 17464 near its intraday low with a loss of 176.30 points. All the sectoral indices have seen a decline and closed lower. Metal was the worst hit, ending nearly 3% down followed by Pharma and Realty.
The prices moved completely opposite to what happened on Tuesday. We had seen a sharp rally in the second half on Tuesday while we have seen a sharp decline in the second half yesterday.
It was a trend day on the downside. The index traded in a wide range and made an outside bar. An outside bar represents expansion and that should be followed by a process of contraction. Today is the weekly expiry so we may see some choppy movement. Strong resistance is around 17950-18000 zone while short term support is visible around 17650 and then at 17450.
BANK NIFTY:
Bank Nifty opened at 37768.80 without much of a gap. The index first moved up and prices have recorded its intraday high at 38106.85. The index did not sustain there and started drifting downwards. Prices have seen a decline of more than 600 points, recorded its intraday low at 37452 and closed with a loss of more than 250 points. PSU Banks have seen an underperformance and ended lower with a loss of 1.94%. Private Banks have also seen a decline and closed lower by 0.64%. Within the index, HDFC Bank contributed highest while ICICI Bank the lowest.
Bank Nifty traded in a wide range and ended lower. The short term trend is now sideways.
TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| COROMANDEL | 857 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 843 and for the target 880 |
| RELIANCE | 2260 | SELL | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 2285 and for the target 2230 |
DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| TATACONSUMER | 820 CE | BUY | 29 | CMP | 24 | 36 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| BOSCHLTD.21.10 Oct | 17350 | 11.55 | 26.55 | 181600 | CROMPTON.21.10 Oct | 477.9 | -1.89 | 30.66 | 984500 | |
| ONGC.21.10 Oct | 167.95 | 2.6 | 22.44 | 68868800 | IPCALAB.21.10 Oct | 2267.05 | -3.56 | 19.25 | 684450 | |
| MARICO.21.10 Oct | 565.35 | 1.13 | 13.74 | 9072000 | OBEROIRLTY.21.10 Oct | 860 | -3.5 | 16.38 | 1148700 | |
| DALBHARAT.21.10 Oct | 2099.5 | 0.87 | 12.37 | 333750 | RBLBANK.21.10 Oct | 185.1 | -4.66 | 13.64 | 26068100 | |
| DEEPAKNTR.21.10 Oct | 2892.05 | 7.88 | 12.3 | 2797500 | GODREJCP.21.10 Oct | 1018 | -2.87 | 11.78 | 5428000 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI% | OI | Stocks | Price | Price % | OI % | OI | |
| BRITANNIA.21.10 Oct | 3938 | 0.93 | -4.5 | 1119400 | ABBOTINDIA.21.10 Oct | 22200 | -4.7 | -10.87 | 27250 | |
| COROMANDEL.21.10 Oct | 863.5 | 3.99 | -2.62 | 2140000 | NATIONALUM.21.10 Oct | 96.5 | -6.13 | -7.74 | 101898000 | |
| UPL.21.10 Oct | 729.05 | 1.57 | -2.18 | 26375700 | VOLTAS.21.10 Oct | 1227.85 | -2.12 | -6.16 | 2614000 | |
| BANDHANBNK.21.10 Oct | 304.65 | 1.57 | -1.45 | 24516000 | CUB.21.10 Oct | 158.95 | 0 | -5.56 | 8050700 | |
| INDUSTOWER.21.10 Oct | 310.7 | 0.18 | -0.51 | 12082000 | SIEMENS.21.10 Oct | 2195.55 | -2.49 | -3.37 | 1771550 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Kotak Mahindra Bank Limi | 1955.75 | -1.34 | 2979275 | 2129884 | 78.31 | Nifty Energy | 23898 | -0.45 | 88005 | |
| Balkrishna Ind. Ltd | 2508.25 | -1.14 | 379718 | 277889 | 69.84 | Nifty Bank | 37521.55 | -0.58 | 88005 | |
| Dabur India Ltd. | 614.95 | -0.2 | 2026192 | 2199919 | 69.7 | Nifty Fmcg | 40167.45 | -0.64 | 88005 | |
| Hdfc Asset Management Co | 2894.5 | -0.39 | 489173 | 525507 | 69.56 | Nifty Media | 2213.4 | -0.68 | 88005 | |
| Hdfc Life Insurance Comp | 725.65 | -1.02 | 1939154 | 1467747 | 65.61 | Nifty 50 | 17646 | -0.99 | 88005 | |
| Hdfc Bank Ltd. | 1614.9 | 1.22 | 9300415 | 3346622 | 65.25 | Nifty Auto | 10567.55 | -1.16 | 88005 | |
| Bosch Limited | 17277.35 | 11.66 | 645475 | 15162 | 64.44 | Nifty it | 35075.8 | -1.32 | 88005 | |
| Hdfc Ltd. | 2750.95 | 0.35 | 3585605 | 1362695 | 64.1 | Nifty Realty | 501.75 | -1.62 | 88005 | |
| Tata Consumer Products l | 820.65 | 2.4 | 5215518 | 2178490 | 62.24 | Nifty Pharma | 14461.95 | -1.87 | 88005 | |
| Crompton Greaves Consume | 477.05 | -1.92 | 1389867 | 406282 | 61.24 | Nifty Metal | 5627.35 | -2.98 | 88005 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: RBI Interest Rate Decision on 8th October, 2021
INR: Deposit and Loan Growth Rate on 8th October, 2021 |
•USD: Initial Jobless Claims on 7th October, 2021
•USD: Nonfarm Payrolls (Sep) on 8th October, 2021 |
NEWS UPDATES
|
•European energy prices extended their blistering rally as the region-wide supply crunch showed no sign of easing, prompting the European Union to pledge swift action to protect the economy. Dutch and U.K. gas futures have jumped 60% in just two days, hitting fresh records along with surging power as EU lawmakers debated the crisis. EU energy chief Kadri Simson said the bloc plans to revise gas-market rules by year-end to prevent soaring energy costs from stifling the economic recovery. •Zee Entertainment Enterprises has on Wednesday moved the appellate tribunal — National Company Law Appellate Tribunal (NCLAT) — against the NCLT order, which asked for a reply to Invesco’s application by October 7. The company is seeking more time to file its reply in the matter and is also seeking a stay on the proceedings at the tribunal till the matter is decided at the appellate tribunal. •The government on Tuesday notified its decision to permit 100% foreign direct investment (FDI) under automatic route in the telecom services sector. The Centre had earlier announced 100% FDI in the telecom sector through the automatic route as part of its comprehensive package for the telecom sector. •Global rating firm Moody’s has affirmed the long-term local and foreign current deposit ratings of Axis Bank, HDFC Bank, ICICI and State Bank of India at Baa3, following sovereign rating action. At the same time, their rating outlooks have been changed to stable from negative. This rating action is driven by Moody’s recent affirmation of the Indian government’s Baa3 issuer rating and change in outlook to stable from negative. Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| GOKEX | General | 07-Oct-21 | ICSL | Quarterly Results | 08-Oct-21 |
| INDITALIA | General | 07-Oct-21 | KANELIND | Quarterly Results | 08-Oct-21 |
| INFRATRUST | General | 07-Oct-21 | MISHTANN | Interim Dividend;Quarterly Results | 08-Oct-21 |
| INTELSOFT | Quarterly Results | 07-Oct-21 | NATURAL | Quarterly Results | 08-Oct-21 |
| LLOYDSME | General | 07-Oct-21 | PARSHVA | General | 08-Oct-21 |
| MEDICO | Bonus issue;Increase in Auth. Capital | 07-Oct-21 | PRISMX | General;Stock Split | 08-Oct-21 |
| SYLPH | Quarterly Results | 07-Oct-21 | SIPTL | Quarterly Results | 08-Oct-21 |
| TCMLMTD | Rights Issue | 07-Oct-21 | SUNRETAIL | Half Yearly Results | 08-Oct-21 |
| BESTAGRO | General | 08-Oct-21 | TCS | Interim Dividend;Quarterly Results | 08-Oct-21 |
| CGVAK | General | 08-Oct-21 | UDAYJEW | General | 08-Oct-21 |
| EARUM | Stock Split | 08-Oct-21 | INDOUS | Bonus issue;Interim Dividend;Pref. Issue | 09-Oct-21 |
| ECORECO | Quarterly Results | 08-Oct-21 | POLYCHMP | Preferential Issue of shares | 09-Oct-21 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| AFFLE | 07-Oct-21 | Stock Split From Rs.10/- to Rs.2/- | MANINFRA | 13-Oct-21 | Interim Dividend – Rs. – 1.2600 |
| INDSOYA | 07-Oct-21 | Stock Split From Rs.10/- to Rs.5/- | ADVITIYA | 13-Oct-21 | Bonus issue 44100 |
| UNISON | 07-Oct-21 | Bonus issue 4:1 | BNRSEC | 13-Oct-21 | E.G.M. |
| DCMSRMIND | 08-Oct-21 | Stock Split From Rs.10/- to Rs.2/- | DHANVARSHA | 13-Oct-21 | Stock Split From Rs.10/- to Rs.2/- |
| ASIANTILES | 11-Oct-21 | Final Dividend – Rs. – 0.5000 | INFRATRUST | 13-Oct-21 | Income Distribution (InvIT) |
| GENSOL | 11-Oct-21 | Bonus issue 1:3 | JTLINFRA | 13-Oct-21 | Stock Split From Rs.10/- to Rs.2/- |
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