Outlook-07-09-2021NIFTY:

The Nifty opened at 17399.35 with a gap up of 76 points. The index first moved up and recorded its intraday high at 17429.55 and then started a process of consolidation. That consolidation broke on the downside and prices have seen a down move. The index recorded its intraday low at 17345.50. The index consolidated  and moved choppy and narrow in the second half closing at 17377.8. The Realty sector outperformed an ended with a gain of more than 3%. The IT and Media also did well. Banks and Financials have underperformed.

The Nifty continued making lifetime new highs and the index moved up above 17400.The short term trend is up and Nifty has closed higher for the third consecutive day. The Nifty is slowly moving up and coming close to its psychological resistance level of 17500.Support is visible around 17050.

BANK NIFTY:

Bank Nifty opened at 36878.25 with a gap up of 115 points. For the first five minutes of trading, the index rallied and recorded its intraday high at 36923.65.Prices then saw a sharp decline in the first haf and then consolidated in the second half. Private and PSU Banks both have seen a decline and closed lower by 0.54% and 0.1%. Within the index, Axis Bank contributed highest while HDFC Bank the lowest.

It was a trend day on the downside. Prices are facing resistance at 37000 mark where as support lies at 36200.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
HCLTECH 1200.15 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1180 and for the target 1225
CUMMINS 1047 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1030 and for the target 1080

 

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
INFY 1740 CE BUY 33.5 CMP 26 43 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
INDIAMART.21.09 Sep 9026 10.67 40.8 207075 HAL.21.09 Sep 1361.95 -2.58 16.85 1488650
OFSS.21.09 Sep 4848 1.69 21.87 320375 ICICIGI.21.09 Sep 1569.95 -3.99 13.71 2217225
PVR.21.09 Sep 1381.3 2.72 20.96 2409440 SRF.21.09 Sep 10279.4 -0.86 9.11 633000
NATIONALUM.21.09 Sep 98.75 6.01 18.32 121193000 GUJGASLTD.21.09 Sep 688.75 -1.8 8.52 2962500
POLYCAB.21.09 Sep 2330 4.4 17.09 456300 POWERGRID.21.09 Sep 172 -0.61 7.52 31272712
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
UBL.21.09 Sep 1582.1 0.42 -5.32 1582000 INDUSTOWER.21.09 Sep 224.7 -0.42 -2.65 12936000
MANAPPURAM.21.09 Sep 169.15 3.08 -2.61 24180000 ONGC.21.09 Sep 120 -1.48 -2.02 55894300
PETRONET.21.09 Sep 231.7 0.43 -1.87 20913000 BEL.21.09 Sep 194.7 -1.89 -1.96 26805200
LUPIN.21.09 Sep 986.4 1.51 -1.86 9605850 SUNPHARMA.21.09 Sep 784 -0.78 -1.35 34742400
DIXON.21.09 Sep 4293 0.84 -1.84 339250 TORNTPHARM.21.09 Sep 3140.9 -1.61 -1.34 812750

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Infosys Limited 1730.4 1.75 4876026 3764063 70.5 Nifty Realty 431.05 3.16 80943
Power Grid Corporation o 174.1 -0.83 10462864 6383450 69.27 Nifty it 35415.1 1.5 80943
Hdfc Bank Ltd. 1565.7 -0.66 3938448 3543509 66.02 Nifty Media 1661.4 1.32 80943
Hindustan Unilever Ltd 2780.6 0.5 1444978 998221 63.91 Nifty Auto 10167.25 0.42 80943
Hcl Technologies Ltd. 1200.15 2.16 4331916 2868614 63.28 Nifty Metal 5742.7 0.41 80943
Hdfc Ltd. 2765.3 0.24 1729080 1150278 60.08 Nifty Energy 21008.55 0.36 80943
Larsen & Toubro Limited 1694.2 0.16 1850835 1399568 59.91 Nifty 50 17377.8 0.31 80943
Ntpc Limited 116.45 -0.47 7005043 5381132 57.46 Nifty Pharma 14481.55 -0.03 80943
Hdfc Asset Management Co 3188.75 0.78 537741 246160 57.32 Nifty Fmcg 40169.05 -0.14 80943
Icici Bank Ltd. 721.15 -0.43 5329995 5145148 57.21 Nifty Bank 36592.35 -0.46 80943

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 9th September, 2021

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

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News Updates

•NMDC Limited is planning a capital expenditure of ₹3,750 crore and iron ore output of 44 million tonnes (mt) duringFY22, up from 35 MT achieved during the Covid-hit 2020-2021. “We have targeted iron ore output of 44 million tonnes this fiscal. And we are drawing up a big capex plan so that we can achieve a target of 100 million tonnes per annum of iron ore output within 4-5 years,” Sumit Deb, CMD, NMDC, said at an investor meet.

•”Vodafone Idea has been under financial stress as reflected by mounting losses and burgeoning debt levels, which is likely to impact its financial lenders as well as Government, apart from having a bearing on its employees, its subscribers and associated industries, most prominently towers,” ICRA said in a statement. In the event of VIL exit, the tower industry may be confronted with vacation of around 180,000 tenancies that the telco currently occupies.

•India’s largest power generation utility NTPC Ltd plans to partner with India’s quasi-sovereign wealth fund, the National Investment and Infrastructure Fund (NIIF) and state-owned Oil and Natural Gas Corp (ONGC) for acquiring and developing green energy assets including offshore wind projects. This was articulated by NTPC chairman and managing director Gurdeep Singh in a letter to the shareholders in the utility’s annual report.

•Domestic air passenger traffic continued on the growth trajectory in August with volumes growing up to 31 per cent to 66 lakh over the previous month, helped by higher capacity deployment and a downward trend in the pandemic, credit ratings agency ICRA said on Monday. The domestic passenger traffic in July 2021 was 51 lakh.

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

Board Meetings

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ALSL General;A.G.M. 07-Sep-21 KCDGROUP A.G.M. 07-Sep-21
ASYAINFO Audited Results 07-Sep-21 LOYAL A.G.M. 07-Sep-21
BENARA A.G.M. 07-Sep-21 MACH General;A.G.M. 07-Sep-21
COSPOWER General;A.G.M. 07-Sep-21 MISQUITA General;A.G.M. 07-Sep-21
FRANKLIN General 07-Sep-21 MRSS Preferential Issue of shares 07-Sep-21
GSBFIN A.G.M. 07-Sep-21 NILACHAL A.G.M. 07-Sep-21
HKG General;A.G.M. 07-Sep-21 NIVAKA General;A.G.M. 07-Sep-21
HVL General;A.G.M. 07-Sep-21 ODYCORP General;A.G.M. 07-Sep-21
JAINMARMO A.G.M. 07-Sep-21 ONEGLOBAL A.G.M. 07-Sep-21
JISLDVREQS Preferential Issue of shares 07-Sep-21 OPTOCIRCUI Quarterly Results 07-Sep-21
JISLJALEQS Preferential Issue of shares 07-Sep-21 PBGLOBAL A.G.M. 07-Sep-21
KAARYAFSL General;A.G.M. 07-Sep-21 PROVESTSER General;A.G.M. 07-Sep-21

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
APCL 07-Sep-21 Final Dividend – Rs. – 5.00 GOODRICKE 07-Sep-21 Dividend – Rs. – 3.00
ASHOKALC 07-Sep-21 Final Dividend – Rs. – 0.50 JSTL 07-Sep-21 Dividend – Rs. – 0.50
AXTEL 07-Sep-21 Dividend – Rs. – 3.00 KIOCL 07-Sep-21 Final Dividend – Rs. – 1.6400
BALFC 07-Sep-21 Final Dividend – Rs. – 0.50 PANCARBON 07-Sep-21 Dividend – Rs. – 12.00
BEARDSELL 07-Sep-21 Dividend – Rs. – 0.10 PARAGMILK 07-Sep-21 Final Dividend – Rs. – 0.50
CGCL 07-Sep-21 Dividend – Rs. – 0.40 PRAXIS 07-Sep-21 Right Issue of Equity Shares
COMPUAGE 07-Sep-21 Final Dividend – Rs. – 0.20 PRINCEPIPE 07-Sep-21 Final Dividend – Rs. – 2.00
COMPUSOFT 07-Sep-21 Final Dividend – Rs. – 0.30 RADIXIND 07-Sep-21 Final Dividend – Rs. – 0.50
CORAGRO 07-Sep-21 Final Dividend – Rs. – 2.00 SHBCLQ 07-Sep-21 Final Dividend – Rs. – 0.30
CYBERTECH 07-Sep-21 Final Dividend – Rs. – 1.00 SWANENERGY 07-Sep-21 Dividend – Rs. – 0.10

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