Morning-Outlook-Feature-Image
Outlook-08-10-2021

NIFTY:

The Nifty opened at 17810.55 with a big gap up of 164 points. The index first consolidated and recorded its intraday low at 17763.8. That consolidation broke on the upside. Prices have seen an intraday rally of almost 50 points and recorded its intraday high at 17857.55. The index did not sustain long around these highs and started drifting downwards. Prices have seen a decline of more than 50 points towards the end of the trading session and finally closed at 17790.35 with a gain of 144.35 points. All the sectoral indices have seen an upside more and closed higher. AUTO and Metal led the bulls and closed higher by 6.16% and 4.39% respectively. FMCG and Financials have contributed the least and closed with marginal gains.

The Nifty traded in a narrow range after opening with a big gap up. The intraday range was about 94 points and the index ended just below 17800. Randomness is seen in the market. A range is also visible of 17450 – 17950.The index has rallied about 2000 points in the last 2 months without much correction. Prices do not move in a straight line. They consolidate or correct.

BANK NIFTY:

Bank Nifty opened at 37894 with a big gap up of 415 points. The index first moved down and recorded its intraday low at 37650.25. Prices then started moving higher and recorded its intraday high at 37923.65. The index consolidated around that range and closed with a gain of more than 200 points. Private and PSU Banks have seen an upside move and closed higher by 1.07% and 0.64% respectively. Within the index, ICICI Bank contributed highest while HDFC Bank the lowest.

A trading range inside 37000-38000 remained intact. Prices have opened with a gap up and closed higher.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
SUNPHARMA 823 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 815 and for the target 833
GAIL 159.65 SELL The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 163 and for the target 155

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
EXIDE 185 CE BUY 7.95 CMP 6 10.5 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
CIPLA.21.10 Oct 919.8 0.56 17 11950900 INDUSTOWER.21.10 Oct 301 -3.37 31.26 15694000
TATAMOTORS.21.10 Oct 380.2 13.07 16.92 107949450 ALKEM.21.10 Oct 3940 -0.2 12.82 471600
ULTRACEMCO.21.10 Oct 7393.95 0.14 14.72 2003900 DALBHARAT.21.10 Oct 2095.9 -0.24 7.66 295250
BATAINDIA.21.10 Oct 1957.6 7.02 14.08 2072400 HINDUNILVR.21.10 Oct 2671.15 -0.33 7.38 5799000
IPCALAB.21.10 Oct 2351.4 3.44 13.37 776475 NESTLEIND.21.10 Oct 19085.05 -0.77 7.23 292250
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
BANKNIFTY.21.10 Oct 37907.6 0.75 -6.6 1773075 ONGC.21.10 Oct 161.2 -4.3 -4.9 57388100
AUBANK.21.10 Oct 1211 0.47 -3.54 4461000 PNB.21.10 Oct 39.85 -0.5 -1.16 304848000
GODREJCP.21.10 Oct 1034 1.49 -3.06 5162000 NATIONALUM.21.10 Oct 96.8 -0.26 -0.75 100810000
IBULHSGFIN.21.10 Oct 244.75 1.35 -3.05 40554200 DEEPAKNTR.21.10 Oct 2888.5 -0.3 -0.69 2741500
MCDOWELL-N.21.10 Oct 906 3.32 -2.87 15116250 JINDALSTEL.21.10 Oct 408.95 -0.54 -0.33 39980000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Alembic Pharmaceuticals 777.9 -0.1 214567 604382 80.03 Nifty Realty 532.65 6.16 83490
Icici Lombard General In 1548.55 -0.32 576382 821218 73.72 Nifty Auto 11031.8 4.39 83490
Nestleind 19045.65 -0.58 47695 49471 68.13 Nifty it 35703.85 1.79 83490
Hdfc Bank Ltd. 1610.5 -0.27 5632862 6227027 66.95 Nifty Media 2234.4 0.95 83490
Infosys Limited 1691 1.04 5476108 2859420 66.94 Nifty 50 17790.35 0.82 83490
Maruti Suzuki India Ltd 7492.5 4.07 1646727 476939 65.63 Nifty Pharma 14562.2 0.69 83490
Kotak Mahindra Bank Limi 1952.45 -0.17 2222130 1953091 65.56 Nifty Bank 37753.2 0.62 83490
Hdfc Ltd. 2727 -0.87 2247842 2347027 65.46 Nifty Metal 5659.95 0.58 83490
Icici Bank Ltd. 702.2 1.84 10041549 8588736 65.06 Nifty Fmcg 40226.4 0.15 83490
Alkem 3909.85 -0.66 344171 95810 63.23 Nifty Energy 23804.4 -0.39 83490

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: Unemployment Rate (Sep) on 8th October, 2021

•USD: Nonfarm Payroll on 8th October, 2021

NEWS UPDATES

•Speculation is rise in Tamil Nadu about a possible takeover of Ford India unit at Maraimalai Nagar in Chennai, after Tata Group conducted two rounds of high-level talks with Tamil Nadu (TN) Chief Minister (CM) M K Stalin within a span of two weeks. On Wednesday, Tata Sons Chairman N Chandrasekaran met Stalin and state Industries Minister Thangam Thennarasu.

•The National Company Law Tribunal (NCLT) on Thursday adjourned the hearing on Invesco’s petition seeking convening of shareholders’ meet by Zee Entertainment Enterprises Ltd (ZEEL), saying it will wait for the appellate tribunal’s order related to the matter. The hearing was adjourned for Friday little over an hour after the National Company Law Appellate Tribunal (NCLAT) said it will pass an order later in the day in connection with the matter.

•Emami Agrotech, the edible oil and bio-diesel arm of the diversified group, is eyeing a turnover of Rs 25,000 crore by 2025 on higher volumes. The company is looking to close the current financial year 2021-2022 with a turnover of around Rs 20,000 crore; in FY 2020-2021, it had clocked in a turnover of Rs 12,000 crore.

•Fitch Ratings has cut India’s economic growth forecast to 8.7 per cent for the current fiscal but raised GDP growth projection for FY23 to 10 per cent, saying the second COVID-19 wave delayed rather than derail the economic recovery. In its APAC Sovereign Credit Overview, Fitch Ratings said India’s ‘BBB-/Negative’ sovereign rating “balances a still-strong medium-term growth outlook and external resilience from solid foreign- reserve buffers, against high public debt, a weak financial sector and some lagging structural factors”.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
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 Interim Dividend;Bonus issue;Pref. Issue 09-Oct-21
ECORECO Quarterly Results 08-Oct-21 POLYCHMP Preferential Issue of shares 09-Oct-21
ICSL Quarterly Results 08-Oct-21 SANTETX Issue Of Warrants 09-Oct-21
KANELIND Quarterly Results 08-Oct-21 SHINDL Quarterly Results 09-Oct-21
MISHTANN Interim Dividend;Quarterly Results 08-Oct-21 SLSTLQ Audited Results 09-Oct-21
NATURAL Quarterly Results 08-Oct-21 TEXRAIL General;Right Issue of Equity Shares 09-Oct-21
PARSHVA General 08-Oct-21 VAKRANGEE Quarterly Results 09-Oct-21
PRISMX Stock  Split;General 08-Oct-21 YASHO Preferential Issue of shares 09-Oct-21
SIPTL Quarterly Results 08-Oct-21 ZGAEKWAR A.G.M.;Quarterly Results 09-Oct-21
SUNRETAIL Half Yearly Results 08-Oct-21 ALKASEC General 11-Oct-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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. – 0.50 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/-
MANINFRA 13-Oct-21 Interim Dividend – Rs. – 1.2600 LANCER 13-Oct-21 Bonus issue 2:1
ADVITIYA 13-Oct-21 Bonus issue 44100 SRF 13-Oct-21 Bonus issue 4:1
BNRSEC 13-Oct-21 E.G.M. NORBTEAEXP 14-Oct-21 E.G.M.

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