The NIFTY opened at 17695.70 with a gap up of just 30 points. The index initially moved up sharply for the first 10 minutes of trading but found resistance there and moved down. Prices have recorded its intraday high at 17764.65, moved down, and erased all the gains. The decline continued and brought prices to its intraday low at 17587.65. A sharp recovery came afterwards. The index again moved down towards the end of today’s trading session and finally closed at 17655.60 near yesterday’s closing price with a loss of just 10.20 points or 0.06% down. METAL and Oil GAS outperformed today led the bulls and closed with a gain of over 1%.FMCG led the bears today and ended with a loss of 0.52%  followed by BANK, FINANCIAL, and IT. The index is going through a process of consolidation. A breakout may lead prices to a very strong resistance around 18000. As we have explained, new trades will emerge either on a close above 17700 or below 17400. Till then step aside and avoid trading the index.


The BANK NIFTY opened at 39892.95 with a gap up of 138 points. The index initially moved up but soon faces resistance and turned down after recording its intraday high at 40073.75. A sharp decline in the next one hour of trading brought prices to its intraday low at 39564.30. The index bounced up a gain and moved into positive territory. Prices again moved down and finally closed at 39673 with a loss of 81 points. PSU BANKS have outperformed today and closed with a gain of 0.51%. PVT BANKS have underperformed today and closed with a loss of 0.47%. Within the index, in terms of points, ICICIBANK contributed the highest on the upside while KOTAK BANK contributed the lowest. BANK NIFTY moved in a narrow range today, saw some sharp intraday moves in both directions, and finally closed lower with minor losses despite breaking above the 40000 levels. 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 basis is mildly bullish. Fresh trading opportunities will emerge if the index breaks and close above 39800 resistance or saw a sharp dip towards 38000 support levels. As far as prices are moving within these boundaries, we should shift our focus to intraday only. For the time being, we should step aside and avoid trading the index.



TATA POWER 247.35 BUY The stock has taken support at the lower level and then bounces. The stock can be bought at CMP with a stop loss of 244.75 and a target of 252.
ONGC 132.10 SELL The stock has been making lower highs, One should be sold at 131.85 for the target of 130.75 with SL of 132.60.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
DR REDDY 4300 CE BUY 69.50 CMP 57.50 95 OI INCREASE
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
APOLLOTYRE.22.09 Sep 273.4 7.09 36.24 14381500 ICICIGI.22.09 Sep 1224 -3.6 16.48 4288675
AMBUJACEM.22.09Sep 441.1 5.2 3.09 79349400 CUB.22.09 Sep 174.85 -2.1 2.83 9615000
SRTRANSFIN.22.09 Sep 1392.55 4.88 8.12 3644400 TATACONSUM.22.09 Sep 823.3 -2.02 6.23 8421300
CROMPTON.22.09 Sep 411.75 4.64 4.04 5334000 BAJAJFINSV.22.09 Sep 17084.45 -1.99 5.67 909850
TATAPOWER.22.09 Sep 248.9 4.62 12.67 97952625 MOTHERSON.22.09 Sep 123.6 -1.94 4.84 45985500
                                                                        Short Covering                                                                       Long Unwinding
ADANIENT.22.09 Sep 3452 2.86 -1.2 17027500 FEDERALBNK.22.09 Sep 121.5 -1.94 -1.71 84520000
APOLLOHOSP.22.09Sep 4426 2.75 -1.2 1719250 IDFCFIRSTB.22.09 Sep 50.15 -1.86 -1.2 1.54E+08
ASTRAL.22.09 Sep 2336 1.55 -1.43 855800 IDEA.22.09 Sep 9.2 -1.6 -0.23 6.12E+08
BHARATFORG.2209Sep 772.95 1.46 -2.51 7805000 DELTACORP.22.09 Sep 208.5 -1.58 -1.79 19467200
INDIAMART.22.09 Sep 4706 0.82 -1.79 387300 ZEEL.22.09 Sep 247 -0.98 -1.11 93783000


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Power Grid Corporation o 225.05 0.74 10577776 0 78.21 Nifty50 17655.6 -0.06 84516
Ipca Laboratories Ltd. 882.9 -0.39 121036 0 72.11 Niftybank 39666.5 -0.35 84519
Container Corp Of India 669.35 0.03 692273 0 71.98 Nifty it 27742.8 -0.34 84519
Hdfc Bank Ltd. 1489.35 -0.38 6119348 0 71.51 India Vix 19.53 -0.66 84519
Godrej Cons Products Ltd 909.75 1.82 1625766 0 71.37 Nifty Fmcg 43528.9 -0.52 84519
Power Finance Corporatio 116.5 1.79 21995115 0 70.68 Nifty Pharma 12598 0.26 84519
Bajaj Auto Limited 3929.4 -0.69 508096 0 69.87 Nifty Realty 473.2 0.36 84519
Hero Motocorp Limited 2866.55 0.86 481401 0 69.85 Nifty Auto 13225.3 -0.16 84519
Indian Oil Corp. Ltd. 70.7 -0.35 10545363 0 69.79 Nifty Metal 6064.7 1.32 84519
Wipro Ltd 404.45 -0.26 9113081 0 69.53 Nifty Financial Services 18197.9 -0.37 84519


   Domestic                                                                                                                                                  International
INR: FX Reserves, USD on 09th September, 2022

INR: CPI (YoY) (Aug) on 12th September, 2022

 USD : FOMC Member Mester Speaks on 07th September, 2022

USD : Initial Jobless Claims on 08th September, 2022


  • Benchmark indices ended the session on September 6 on a flat note amid volatility. Sensex was down 48.99 points or 0.08% at 59196.99, and the Nifty shed 10.20 points or 0.06% at 17655.60. About 1745 shares have advanced, 1614 shares declined, and 133 shares are unchanged. Among the sectors, buying was seen in oil & gas, power and metal names while financials, FMCG and IT indices ended in the red. The midcap index added half a percent.

  • Shares of DreamFolks Services Ltd. surged on listing on Tuesday after investors piled into its initial public offering. The stock of the Indian airport aggregator platform listed at Rs 505 apiece on BSE, a premium of about 55% to its IPO price of Rs 326 a share. On the National Stock Exchange, DreamFolks’ shares debuted at Rs 508.70, a premium 56%.

  • Australia’s central bank delivered its fourth consecutive half-percentage point interest-rate increase and reinforced that it’s not on a predetermined route in its drive to rein in inflation. The Reserve Bank raised the cash rate to 2.35%, the highest level since 2015, from 1.85% at Tuesday’s meeting.

  • India has set up a panel to review the pricing formula for locally produced gas to ensure a ”fair price to the end consumer”, according to a government order seen by Reuters, a move aimed at lowering inflation and boosting use of the cleaner fuel. Prime Minister Narendra Modi wants to raise the share of gas in India’s energy mix to 15% by 2030 from 6.2%, helping it progress towards meeting a 2070 net zero carbon-emission goal.

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


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
AEPL General 07-Sep-22 ODYCORP A.G.M.;General 07-Sep-22
AKI A.G.M.;Audited Results 07-Sep-22 PALMJEWELS A.G.M. 07-Sep-22
ALSL A.G.M.;General 07-Sep-22 PATELENG General 07-Sep-22
BAZELINTER A.G.M.;Employees Stock Option Plan 07-Sep-22 PBGLOBAL A.G.M.;General 07-Sep-22
BENARA A.G.M. 07-Sep-22 PROMAX A.G.M.;Increase in Authorised Capital;Preferential Issue of shares 07-Sep-22
BRANDBUCKT A.G.M. 07-Sep-22 QGO General 07-Sep-22
BRRL A.G.M.;General 07-Sep-22 RAJNISH A.G.M.;General 07-Sep-22
CAPFIN A.G.M.;General 07-Sep-22 RISHDIGA A.G.M.;General 07-Sep-22
CONCORD General;Preferential Issue of shares 07-Sep-22 RSCINT A.G.M. 07-Sep-22
COSPOWER A.G.M.;General 07-Sep-22 SHARMEH A.G.M. 07-Sep-22
EARUM Right Issue of Equity Shares;General;Rights Issue 07-Sep-22 SPANDANA General 07-Sep-22
GGENG A.G.M.;General 07-Sep-22 SHYMINV A.G.M. 07-Sep-22
GUJINJEC Issue Of Warrants 07-Sep-22 UNITINT A.G.M.;General 07-Sep-22
GUJRAFIA A.G.M. 07-Sep-22 UNRYLMA General 07-Sep-22
HVL A.G.M.;General 07-Sep-22 VEERKRUPA A.G.M. 07-Sep-22
KEMISTAR A.G.M.;Final Dividend 07-Sep-22 VISIONCO A.G.M. 07-Sep-22
LADIAMO A.G.M.;Audited Results 07-Sep-22 VIVIDM A.G.M. 07-Sep-22
MISQUITA A.G.M.;General 07-Sep-22 VRFILMS A.G.M.;General 07-Sep-22
MUZALI A.G.M.;Preferential Issue of shares 07-Sep-22 ZPRBHSTE A.G.M.;General 07-Sep-22
NYSSACORP A.G.M. 07-Sep-22 AIML Preferential Issue of shares 08-Sep-22


Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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
NRBBEARING 07-Sep-22 Final Dividend Rs. 2 MOIL 08-Sep-22 Final Dividend Rs. 3
RAINBOW 07-Sep-22 Final Dividend Rs. 2 MUNJALAU 08-Sep-22 Final Dividend Rs. 1
APCL 08-Sep-22 Final Dividend Rs. 3 PANCHSHEEL 08-Sep-22 Int. Div.Rs. 1
APOLLO 08-Sep-22 Final Dividend Rs. 0.25 PPAP 08-Sep-22 Final Dividend Rs. 1.50
ASHIANA 08-Sep-22 Final Dividend Rs. 0.5 PREMEXPLQ 08-Sep-22 Final Dividend Rs. 1.50
BAJAJST 08-Sep-22 Dividend Rs. 2 RITES 08-Sep-22 Final Dividend Rs. 3.5
BANSWRAS 08-Sep-22 Split Rs.10/- to Rs.5/- RKFORGE 08-Sep-22 Final Dividend Rs. 0.20
BELLACASA 08-Sep-22 Final Dividend Rs. 0.91 RUCHIRA 08-Sep-22 Final Dividend Rs. 2
BEML 08-Sep-22 Spin Off SATINDLTD 08-Sep-22 Dividend Rs. 0.15
DECCANCE 08-Sep-22 Final Dividend Rs. 5 SINGER 08-Sep-22 Final Dividend Rs. 1

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 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,
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
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting, or emailing 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
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
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, 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:
EWL 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 or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL 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 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 or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL 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 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 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 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