Outlook-08-09-2021NIFTY:

The Nifty opened at 17401.55 with a gap up of 24 points. The index first saw a dip of more than 100 points and recorded its intraday low at 17287. The index then moved up, broke early morning highs and recorded its intraday high at 17436.50. The index again went down after recording its intraday high. Prices have seen a minor correction of almost 50 points and finally closed at 17362.10. The Realty and IT underperformed and ended lower by more than 1%. The financial and FMCG have performed better. The Nifty continued making lifetime new highs for the fourth consecutive trading day. However the index did not sustain at the higher levels. The short term trend is up and the Nifty broke the three days of a higher closing streak.

A trade range is now visible around 17000-17500. We will get buying opportunities on a dip towards 17000 or if the Nifty breaks above 17500.

BANK NIFTY:

Bank Nifty opened at 36558.85 with a gap down of just 30 points. The index started moving down from its opening tick and recorded its intraday low at 36151.95. Prices then saw a sharp rally and recorded its intraday high at 36685.85. PSU Banks have underperformed and closed lower by 1.33%. Private Banks have also seen a decline and ended with a loss of 0.28%. Within the index, HDFC Bank contributed highest while Axis Bank the lowest.

The index moved very volatile as prices have seen a sharp decline of almost 400 points and then a rally of more than 500 points. Short term support is at 36200 and resistance at 37000.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
DIXON 4326 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 4275 and for the target 4400
LICHSGFIN 423.95 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 414 and for the target 435

 

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
ICICIPRULI 710 CE BUY 21.9 CMP 17 30 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
CANFINHOME.21.09 Sep 618.55 3.93 44.25 2800200 INDIAMART.21.09 Sep 8780.2 -2.17 12.74 238950
POLYCAB.21.09 Sep 2405.2 3.32 36.77 601500 MANAPPURAM.21.09 Sep 164.4 -2.58 11.95 26976000
IRCTC.21.09 Sep 3287 8.86 27.44 2230800 TATACONSUM.21.09 Sep 870 -0.42 10.99 8765550
IDEA.21.09 Sep 8.35 14.38 26.13 698320000 ASHOKLEY.21.09 Sep 120.75 -1.23 7.65 50998500
VOLTAS.21.09 Sep 1186.65 5.51 23.13 4176000 IPCALAB.21.09 Sep 2500.05 -0.15 7.13 165600
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
SHREECEM.21.09 Sep 30798.7 0.59 -1.8 172875 NATIONALUM.21.09 Sep 95.3 -3.05 -8.11 106148000
LUPIN.21.09 Sep 991.05 0.46 -1.39 9230150 BANKNIFTY.21.09 Sep 36572.9 -0.5 -6.4 1865975
INDUSTOWER.21.09 Sep 243.95 8.45 -0.89 12796000 DLF.21.09 Sep 336 -3.18 -3.76 38788200
IOC.21.09 Sep 112 0.04 -0.82 52091000 LTI.21.09 Sep 5418.15 -0.9 -3.75 747900
COLPAL.21.09 Sep 1735.6 1.67 -0.78 2788100 COFORGE.21.09 Sep 5188.6 -2.22 -2.99 837600

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Power Grid Corporation o 173 -0.63 9363774 7450126 71.21 Nifty Fmcg 40289.85 0.3 86811
Hdfc Life Insurance Comp 734.25 -0.24 2891731 5747011 71.09 Nifty Media 1663.1 0.1 86811
Hdfc Ltd. 2837 2.59 4072518 1205801 69.74 Nifty 50 17362.1 -0.09 86811
Sbi Life Insurance Compa 1238.75 -0.47 1164891 782120 67.03 Nifty Auto 10152.7 -0.14 86811
Itc Ltd. 211.75 1.17 37489544 7115703 66.93 Nifty Bank 36468.8 -0.34 86811
Hdfc Bank Ltd. 1569.25 0.23 3622748 2534940 64.36 Nifty Energy 20934.5 -0.35 86811
Kotak Mahindra Bank Limi 1764.85 -0.55 2922837 1205231 63.37 Nifty Metal 5708.35 -0.6 86811
Infosys Limited 1706.65 -1.37 3520341 3078091 63.13 Nifty Pharma 14387.35 -0.65 86811
Colgate Palmolive (india 1731.25 1.69 708929 278224 61.4 Nifty it 34951.3 -1.31 86811
Maruti Suzuki India Ltd 6877.15 0.44 743783 545747 60.81 Nifty Realty 421 -2.33 86811

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

•Vodafone Idea (Vi) is hopeful of government support in generating reasonable returns on its investment and addressing the challenges plaguing the telecom sector, the company’s chairperson Himanshu Kapania said in a letter to shareholders. Kapania took over from Kumar Mangalam Birla on August 4, days after the Supreme Court rejected its application for a correction in the calculation of adjusted gross revenue dues.

•The Bharat Electronics Limited (BEL) has signed a pact for providing reliable and sustainable power supply to security forces operating in remote, Naxal-affected and high-altitude areas. The MoU between the Navratna PSU BEL and the SFC Energy-AG, Germany, and FC TecNrgy Pvt Ltd (FCTec), signed recently, will ensure cooperation in addressing the emerging requirement of sustainable energy to the security forces through supply of hydrogen and fuel cells, a press release said.

•Reliance Jio is targeting a “large addressable market” of around 540 million, including around featurephone, current JioPhone and smartphone users with devices priced under $100 branded JioPhone Next, brokerage Jefferies said in a note. The brokerage said that at current tariff plans, upgrades by basic JioPhone users to JioPhone Next could boost Jio’s FY23 revenue estimates by up to 10%, while for Bharti Airtel , churn among smartphone users could hurt its India-mobile FY23 revenue estimates by 2-3%.

•The Union Cabinet is likely to approve on Wednesday a production linked incentive (PLI) scheme for man-made fibre segment and technical textiles with a financial outlay of Rs 10,683 crore over five years to boost domestic manufacturing and exports from the sector, an official said.

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

Board Meetings

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ADVANIHOTR General 08-Sep-21 MPFSL General 08-Sep-21
AEL General 08-Sep-21 MUL General 08-Sep-21
ALFAVIO Final Dividend;A.G.M. 08-Sep-21 QGO General 08-Sep-21
BODHTREE Quarterly Results 08-Sep-21 REALECO A.G.M. 08-Sep-21
CRANESSOFT A.G.M. 08-Sep-21 REPRO Preferential Issue;Issue Of Warrants 08-Sep-21
GICRE General 08-Sep-21 SBRANDS A.G.M. 08-Sep-21
HINDAPL Voluntary Delisting of Shares 08-Sep-21 SHARMEH A.G.M. 08-Sep-21
HITECHGEAR General 08-Sep-21 SHASHANK General 08-Sep-21
KWALITY Quarterly Results 08-Sep-21 SHIKHARLETR Voluntary Delisting of Shares 08-Sep-21
LLOYDSME General 08-Sep-21 SHINEFASH Stock  Split;General 08-Sep-21
MAXIMAA A.G.M. 08-Sep-21 VINATIORGA General 08-Sep-21
MENAMANI A.G.M. 08-Sep-21 VKAL A.G.M. 08-Sep-21

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
63MOONS 08-Sep-21 Dividend – Rs. – 2.00 FILATEX 08-Sep-21 Final Dividend – Rs. – 0.40
ACRYSIL 08-Sep-21 Final Dividend – Rs. – 1.20 FLEXFO 08-Sep-21 Dividend – Rs. – 1.00
AJMERA 08-Sep-21 Final Dividend – Rs. – 1.40 GARFIBRES 08-Sep-21 Final Dividend – Rs. – 2.50
ASIANTILES 08-Sep-21 Right Issue of Equity Shares GENUSPOWER 08-Sep-21 Dividend – Rs. – 0.50
BASML 08-Sep-21 Right Issue of Equity Shares GLENMARK 08-Sep-21 Final Dividend – Rs. – 2.50
BNALTD 08-Sep-21 Final Dividend – Rs. – 1.00 GOWRALE 08-Sep-21 Dividend – Rs. – 1.00
CREATIVE 08-Sep-21 Final Dividend – Rs. – 10.00 GSFC 08-Sep-21 Dividend – Rs. – 2.20
DHANVARSHA 08-Sep-21 Final Dividend – Rs. – 0.0500 GSPL 08-Sep-21 Dividend – Rs. – 2.00
DHUNINV 08-Sep-21 Dividend – Rs. – 2.50 GUJGAS 08-Sep-21 Dividend – Rs. – 2.00
EVERESTO 08-Sep-21 Final Dividend – Rs. – 1.00 GUJINTRX 08-Sep-21 Final Dividend – Rs. – 3.00

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