NIFTY:
The NIFTY opened at 20127.95 with a gap up of 58 points. Prices continued its upward momentum and moved higher but soon found resistance and turned down. A sharp decline came and the index erased all the gains. Prices continued moving lower but could not break below 20000 and bounced up. The index rallied sharply in the last hour of trading. The NIFTY first recorded its intraday high at 20167.65 and then its intraday low at 20043.45. Prices have finally closed at 20103.10 near its opening tick with a gain of 33.10 points or 0.16% up. All the sectoral indices have moved higher and closed with gains except MEDIA and FMCG which ended with minor losses. METAL, REALTY, OIL GAS, and AUTO outperformed and ended with a gain of over 1% followed by IT and PHARMA. The short-term trend is up. Support is visible around 19700 while there is no visible resistance as prices are trading in uncharted territory.
BANK NIFTY:
The BANK NIFTY opened at 46013.30 with a gap up of 114 points. The index continued moving higher but soon found resistance and started moving lower after recording its intraday high at 46153.90. Prices have seen a sharp decline, erased all the gains, and recorded its intraday low at 45801 The index then started moving range bound and continued that movement till the end. Prices have closed at 45983.65 near its opening tick with a gain of 84 points. PSU BANK has significantly outperformed today, saw a sharp upside move, and closed with a gain of 1.64%. PVT BANK has also moved up today and ended with a gain of just 0.18%. Within the index, in terms of points, AXIS BANK contributed the highest on the upside while ICICI BANK contributed the lowest. The short-term trend is still up and there is no doubt about it as the index is trading very near to its lifetime high recorded at 46369.50. Support is visible around 44800 while resistance is visible around 46200.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE |
| M&M | 1566.00 | BUY | The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 1575.85 with a stop loss of 1561.75 and a target of 1603.55. |
| HDFC LIFE | 645.45 | SELL | The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 642.40 with a stop loss of 647.35 and a target of 631.50. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| BAJAJ FINSERVE | 1600 CE | BUY | 12.30 | CMP | 8.55 | 24 | BREAKOUT |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| NMDC.23.09 Sep | 151.4 | 6.02 | 3.22 | 1.13E+08 | TORNTPHARM.23.09 Sep | 1848.45 | -1.46 | 8.39 | 2383000 | |
| BALRAMCHIN.23.09 Sep | 438.25 | 5.01 | 12.94 | 12472000 | ACC.23.09 Sep | 2046 | -1.15 | 1.05 | 5731200 | |
| GRANULES.23.09 Sep | 336.05 | 4.31 | 12.05 | 10822000 | ZEEL.23.09 Sep | 273.75 | -1.12 | 4.74 | 97479000 | |
| LALPATHLAB.23.09 Sep | 2337.05 | 3.89 | 21.76 | 757200 | ASIANPAINT.23.09 Sep | 3242.55 | -1.08 | 13.77 | 5181800 | |
| HINDALCO.23.09 Sep | 501.6 | 3.39 | 8.89 | 27841800 | TATACONSUM.23.09 Sep | 884.5 | -0.97 | 8.32 | 10384200 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| BALKRISIND.23.09 Sep | 2519 | 4.39 | -1.17 | 1777200 | IDEA.23.09 Sep | 10.9 | -1.36 | -0.1 | 1066480000 | |
| CHOLAFIN.23.09 Sep | 1209.95 | 4.13 | -0.8 | 14551250 | DEEPAKNTR.23.09 Sep | 2272.1 | -0.72 | -0.03 | 2312400 | |
| UPL.23.09 Sep | 633.8 | 3.85 | -0.64 | 35284600 | AUROPHARMA.23.09Sep | 899 | -0.59 | -1.28 | 13876500 | |
| SAIL.23.09 Sep | 99 | 3.39 | -0.37 | 125456000 | SYNGENE.23.09 Sep | 834.1 | -0.46 | -1.16 | 4104000 | |
| JINDALSTEL.23.09 Sep | 713.85 | 2.96 | -1.37 | 23473750 | ALKEM.23.09 Sep | 3734.95 | -0.46 | -1.03 | 808000 | |
Top Delivery Percentage
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Eicher Motors Ltd | 3381.4 | 1.84 | 436335 | 619914 | 75.58 | Nifty50 | 20103.1 | 0.16 | 79356 | |
| Hindustan Unilever Ltd | 2500.8 | -0.23 | 2081195 | 911490 | 74.03 | Niftybank | 46000.85 | 0.2 | 79362 | |
| Indigo | 2464.65 | 0.71 | 1249199 | 843894 | 71.03 | Nifty it | 33045.4 | 0.48 | 79362 | |
| Dabur India Ltd. | 567.45 | 0.34 | 998731 | 857116 | 71.03 | India Vix | 11.32 | -4.33 | 79362 | |
| Infosys Limited | 1506.95 | 0.57 | 6444213 | 3271764 | 68.1 | Nifty Fmcg | 52143.2 | -0.15 | 79362 | |
| Reliance Industries Ltd | 2453.3 | 0.09 | 4604818 | 4355322 | 68.03 | Nifty Pharma | 15489.3 | 0.26 | 79362 | |
| Page Industries Limited | 40036.35 | -0.45 | 37612 | 30345 | 67.94 | Nifty Realty | 589.25 | 1.39 | 79362 | |
| Larsen & Toubro Limited | 2918.6 | 0.41 | 1910041 | 1670141 | 67.94 | Nifty Auto | 16169.65 | 1.09 | 79362 | |
| Cipla Ltd | 1233.75 | 0.43 | 1713142 | 1101539 | 67.69 | Nifty Metal | 7046.9 | 1.49 | 79362 | |
| Mah & Mah Ltd. | 1566 | 1.89 | 2220196 | 1609541 | 67.55 | Nifty Financial Services | 20408.2 | 0.11 | 79362 | |
Upcoming Economic Data
| Domestic International | |
| INR: Thomson Reuters IPSOS PCSI (MoM) (Sep) on 15th September, 2023
INR: FX Reserves, USD on 15th September, 2023 |
USD: Building Permits (Aug) on 19th September, 2023
USD: Fed Interest Rate Decision on 20th September, 2023 |
News Updates
-
Benchmark indices ended marginally higher in the volatile session on September 14. At close, the Sensex was up 52.01 points or 0.08 percent at 67,519.00, and the Nifty was up 33.10 points or 0.16 percent at 20,103.10. About 2302 shares advanced, 1243 shares declined, and 145 shares unchanged.
-
Sugar stocks soared on September 14, after a dry August month prompted officials to cut Maharashtra state output forecast by 14 percent in 2023/24 crop year to the lowest in four years. Major sugar stocks including Balrampur Chini Mills, Dalmia Bharat Sugar, Triveni Engineering and Dwarikesh Sugar jumped as much as 12 percent following the news report.
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State-run Oil India Limited (OIL) plans to invest Rs 25,000 crore to achieve its net-zero emissions target, the state-owned oil and gas explorer’s Chairman and Managing Director Ranjit Rath said on September 14. Rath said at a press conference that OIL commits to invest in green hydrogen, setting up of 2G ethanol plant, compressed biogas plants, carbon capture utilisation among others.
Source: Economic Times, Indian Express, Business Today, Livemint, Business Standard, Bloomberg Quint
Board Meetings
| Company Name | Purpose | Meeting Date | Company Name | Purpose | Meeting Date |
| AAPLUSTRAD | Right Issue of Equity Shares | 15-Sep-23 | SUNDARAM | General | 18-Sep-23 |
| BAJAJHLDNG | Interim Dividend | 15-Sep-23 | VIKASWSP | Quarterly Results | 19-Sep-23 |
| DOLPHINOFF | General | 15-Sep-23 | GUJCOTEX | Issue Of Warrants;Preferential Issue of shares;General | 20-Sep-23 |
| GGL | Rights Issue | 15-Sep-23 | GVFILM | Preferential Issue of shares | 20-Sep-23 |
| MAHSCOOTER | Interim Dividend | 15-Sep-23 | SISL | General | 20-Sep-23 |
| PYRAMID | Quarterly Results | 15-Sep-23 | VLSFINANCE | General | 20-Sep-23 |
| SICAPIT | General | 15-Sep-23 | ATALREAL | Stock Split | 21-Sep-23 |
| STRLGUA | General | 15-Sep-23 | DHANADACO | General | 21-Sep-23 |
| TEXRAIL | Preferential Issue of shares;General;Rights Issue | 15-Sep-23 | RESPONSINF | General | 21-Sep-23 |
| THOMASCOTT | Preferential Issue of shares;General | 15-Sep-23 | TGBHOTELS | General | 21-Sep-23 |
| BALKRISHNA | Right Issue of Equity Shares;General;Rights Issue | 16-Sep-23 | IL&FSTRANS | General | 22-Sep-23 |
| GIPCL | General | 16-Sep-23 | MKPL | Stock Split | 23-Sep-23 |
| KRRAIL | General | 16-Sep-23 | AVANCE | Increase in Authorised Capital;General;Stock Split | 25-Sep-23 |
| MAAGHADV | General | 16-Sep-23 | INFRAIND | General | 27-Sep-23 |
| PITHP | A.G.M. | 16-Sep-23 | DILIGENT | A.G.M. | 29-Sep-23 |
| RIR | General | 16-Sep-23 | VAICC | A.G.M. | 29-Sep-23 |
| ZGOVPOOX | General | 16-Sep-23 | AAPLUSTRAD | A.G.M. | 30-Sep-23 |
| CAPPIPES | General | 18-Sep-23 | INTETHR | A.G.M. | 30-Sep-23 |
| MHEL | Audited Results;General | 18-Sep-23 | KSOLVES | Interim Dividend;Quarterly Results | 15-Oct-23 |
| NIBE | Preferential Issue of shares | 18-Sep-23 | COFORGE | Interim Dividend;Quarterly Results | 19-Oct-23 |
| SASKEN | General | 18-Sep-23 | ULTRACEMCO | Quarterly Results | 19-Oct-23 |
| SHARMEH | General | 18-Sep-23 | MARUTISE | Quarterly Results | 30-Oct-23 |
Corporate Action
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| AMNPLST | 15-Sep-23 | Dividend – Rs. – 0.5000 | IRFC | 15-Sep-23 | Final Dividend – Rs. – 0.7000 |
| APOLLOPIPES | 15-Sep-23 | Final Dividend – Rs. – 0.6000 | JSL | 15-Sep-23 | Final Dividend – Rs. – 1.5000 |
| ASHOKALC | 15-Sep-23 | Dividend – Rs. – 1.0000 | JYOTIRES | 15-Sep-23 | Final Dividend – Rs. – 6.0000 |
| ASL | 15-Sep-23 | Final Dividend – Rs. – 0.5000 | KILPEST | 15-Sep-23 | Final Dividend – Rs. – 2.5000 |
| BIGBLOC | 15-Sep-23 | Final Dividend – Rs. – 0.4000 | KRSNAA | 15-Sep-23 | Final Dividend – Rs. – 2.7500 |
| CANTABIL | 15-Sep-23 | Final Dividend – Rs. – 2.5000 | LINCOPH | 15-Sep-23 | Dividend – Rs. – 1.5000 |
| CIFL | 15-Sep-23 | Final Dividend – Rs. – 0.1000 | MANALIPETC | 15-Sep-23 | Dividend – Rs. – 0.7500 |
| CREATIVE | 15-Sep-23 | Final Dividend – Rs. – 10.0000 | MCX | 15-Sep-23 | Dividend – Rs. – 19.0900 |
| CSLFINANCE | 15-Sep-23 | Final Dividend – Rs. – 2.5000 | MONARCH | 15-Sep-23 | Final Dividend – Rs. – 1.0000 |
| DAICHI | 15-Sep-23 | Final Dividend – Rs. – 4.0000 | NATIONALUM | 15-Sep-23 | Final Dividend – Rs. – 1.0000 |
| DATAINFRA | 15-Sep-23 | Income Distribution (InvIT) | NCLIND | 15-Sep-23 | Final Dividend – Rs. – 1.5000 |
| EKC | 15-Sep-23 | Final Dividend – Rs. – 0.7000 | NIBE | 15-Sep-23 | Dividend – Rs. – 0.1000 |
| ELCIDIN | 15-Sep-23 | Final Dividend – Rs. – 25.0000 | PHOENIXLTD | 15-Sep-23 | Final Dividend – Rs. – 5.0000 |
| ELDEHSG | 15-Sep-23 | Final Dividend – Rs. – 8.0000 | POCL | 15-Sep-23 | Final Dividend – Rs. – 5.0000 |
| EMPIND | 15-Sep-23 | Final Dividend – Rs. – 25.0000 | PRAVEG | 15-Sep-23 | Final Dividend – Rs. – 4.5000 |
| ENIL | 15-Sep-23 | Final Dividend – Rs. – 1.0000 | PREMCO | 15-Sep-23 | Final Dividend – Rs. – 5.0000 |
| EXHICON | 15-Sep-23 | Dividend – Rs. – 1.0000 | RAJOOENG | 15-Sep-23 | Final Dividend – Rs. – 0.3500 |
| GRSE | 15-Sep-23 | Final Dividend – Rs. – 0.7000 | ROLCOEN | 15-Sep-23 | Dividend – Rs. – 2.0000 |
| HBLPOWER | 15-Sep-23 | Dividend – Rs. – 0.4500 | RUSHIL | 15-Sep-23 | Final Dividend – Rs. – 0.5000 |
| HMAAGRO | 15-Sep-23 | Final Dividend – Rs. – 3.0000 | SALASAR | 15-Sep-23 | Final Dividend – Rs. – 0.1000 |
| INDOTHAI | 15-Sep-23 | Dividend – Rs. – 0.6000 | SANGAMIND | 15-Sep-23 | Dividend – Rs. – 2.0000 |
| INDRAMEDCO | 15-Sep-23 | Dividend – Rs. – 3.0000 | SANTETX | 15-Sep-23 | Final Dividend – Rs. – 1.0000 |
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