The  NIFTY opened at 19565.60 with a gap up of 53 points. The index recorded its intraday low at 19565.45 and moved sideways for about the first hour of trading. That consolidation eventually broke on the upside and prices have seen a mild up move. The rally picked a pace in the afternoon and took the index above the 19700 level. Prices have recorded its intraday high at 19717.80, saw a minor dip towards the end of trading session, and finally closed at 19689.85 with a gain of 177.50 points or 0.91% up. All the sectoral indices have closed with a gain led by REALTY which ended with a 4.01% higher. METAL, BANK, FINANCIAL, AUTO, and MEDIA moved up and ended with a gain of more than 1%. The short-term trend is sideways now which was down before. Support is visible around 19250 while resistance is visible around 19700. A short-term support is also visible around 19500.


The BANK NIFTY opened at 44027.55 with a gap up of 159 points. The index initially moved sideways inside a narrow range of about first three hours and then broke on the upside. A sharp rally came which took prices around 44500. A minor dip came in the last hour of trading. The index recorded its intraday low at 44004.55, its intraday high at 44487.25, and finally closed at 44378.40 with a gain of 510 points. PSU BANK outperformed, saw a sharp upside move, and ended with a gain of 2.08%. PVT BANK has also moved up and ended with a gain of 1.16%. Within the index, in terms of points, ICICI BANK contributed the highest on the upside while INDUSIND BANK contributed the lowest. The short-term trend is now again sideways. A trading range is now visible on the daily timeframe chart with support around 43800 and resistance around 44800.


ITC 444.40 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 444.70 with a stop loss of 442.25 and a target of 449.90.
GSPL 286.85 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 285.30 with a stop loss of 288.05 and a target of 280.35.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ESCORTS.23.10 Oct 3424.4 6.69 9.62 2134550 METROPOLIS.23.10 Oct 1480 -1.71 0.76 1654400
GODREJPROP.23.10 Oct 1728.9 5.88 2.99 4139150 TORNTPHARM.23.10 Oct 1873 -1.09 1.54 1843500
NMDC.23.10 Oct 151.1 5.44 5.44 113859000 AUROPHARMA.23.10 Oct 905.55 -1.04 2.47 16459300
COALINDIA.23.10 Oct 303.6 5.33 6.84 78044400 BIOCON.23.10 Oct 259.1 -0.99 4.19 28505000
BSOFT.23.10 Oct 541.9 4.67 15.64 9138000 TRENT.23.10 Oct 2060.75 -0.98 2.46 3168800
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
CUB.23.10 Oct 135.6 7.53 -12.47 40150000 MFSL.23.10 Oct 895.6 -0.47 -0.12 8906400
BHEL.23.10 Oct 131.75 3.74 -4.76 103729500 MGL.23.10 Oct 1113.25 -0.09 -0.45 2499200
ADANIPORTS.23.10 Oct 821.05 3.73 -2.39 52889600 NAVINFLUOR.23.10 Oct 3722.4 -0.06 -0.2 1190550
SHRIRAMFIN.23.10 Oct 1895 3.73 -0.36 8541000
MANAPPURAM.23.10 Oct 144.85 3.5 -0.62 69186000

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Acc Limited 1986.25 1.08 123625 659755 79.43 Nifty50 19689.85 0.91 71637
Deepakntr 2065.5 -0.17 518036 324388 76.74 Niftybank 44360.15 1.08 71637
Mah & Mah Ltd. 1537.85 1.49 1956653 1590119 74.89 Nifty it 32569.45 0.81 71637
Bharti Airtel Limited 948.35 2.57 7897875 1602496 71.28 India Vix 11.27 -1.14 71745
Hindustan Unilever Ltd 2516.2 0.2 1092373 1045441 71.18 Nifty Fmcg 51803.95 0.58 71637
Icici Bank Ltd. 951.2 1.34 11452715 4766205 70.87 Nifty Pharma 15106.7 0.02 71637
Britannia Ind Ltd. 4529.95 0.16 222750 179333 70.12 Nifty Realty 606.2 4.01 71637
Hdfc Life Insurance Comp 621.25 0.99 4054232 2316047 70 Nifty Auto 16028.7 1.24 71637
Info Edge (india) Limite 4234.35 0.49 207771 186161 69.67 Nifty Metal 6783.15 2.05 71637
Sbi Life Insurance Compa 1302.05 1.94 1221002 926650 68.89 Nifty Financial Services 19834.85 1.23 71637

Upcoming Economic Data

   Domestic                                                                                                                                                  International
INR: CPI (YoY) (Sep) on 12th October, 2023

INR: Cumulative Industrial Production (Aug) on 12th October, 2023

USD: PPI (MoM) (Sep) on 11th October, 2023

USD: FOMC Meeting Minutes on 11th October, 2023

News Updates

  • The Indian benchmark indices recovered the previous session losses to close almost a percent higher on October 10 on positive global cues after dovish comments from the US Federal Reserve officials eased rate worries even as the Israel-Hamas conflict remains a concern. At close, the Sensex was up 566.97 points, or 0.87 percent, at 66,079.36, and the Nifty ended 177.50 points, or 0.91 percent, higher at 19,689.80.

  • Realty stocks were among the most sought-after on October 10 amid optimism over the festival season that is about to commence and encouraging second-quarter business updates from companies. Consequently, the Nifty Realty index was the biggest sectoral gainer at noon. At close, the Nifty Realty index was up 4.01 percent, led by gains in Prestige Estates, which surged 8 percent. Sobha, Godrej Properties, Oberoi Realty and DLF had gained between 4 and 7 percent.

  • The International Monetary Fund (IMF) has raised its 2023-24 GDP growth forecast for India for the second time in three months, taking it closer to the 6.5 percent predicted by Indian authorities. According to the multilateral agency’s latest World Economic Outlook report, released on October 10, India’s GDP is expected to grow by 6.3 percent this year, 20 basis points higher than what it had forecast in late July.

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

Board Meetings

Company Name Purpose Meeting Date Company Name Purpose Meeting Date
AURIONPRO Preferential Issue of shares 11-Oct-23 UNTTEMI General 11-Oct-23
BANKBARODA General 11-Oct-23 ZAGGLE Quarterly Results 11-Oct-23
BHAGCHEM General;Preferential Issue of shares;Issue Of Warrants;Rights Issue 11-Oct-23 AJWAFUN General 12-Oct-23
DELTACORP Quarterly Results 11-Oct-23 ANANDRATHI Interim Dividend;Quarterly Results 12-Oct-23
DPL Right Issue of Equity Shares;Half Yearly Results 11-Oct-23 ANGELONE Interim Dividend;Quarterly Results 12-Oct-23
INTECCAP General 11-Oct-23 ASHIS Preferential Issue of shares 12-Oct-23
JONJUA General 11-Oct-23 AYOME General 12-Oct-23
JRELTD General;Quarterly Results 11-Oct-23 DECCAN Preferential Issue of shares;Issue Of Warrants 12-Oct-23
KPIGREEN Preferential Issue of shares 11-Oct-23 EMERALD Quarterly Results 12-Oct-23
MEDPLUS General 11-Oct-23 FACORALL Quarterly Results 12-Oct-23
NATIONSTD Quarterly Results 11-Oct-23 HCLTECH Interim Dividend;Quarterly Results 12-Oct-23
PAVNAIND Increase in Authorised Capital 11-Oct-23 HDFCAMC Quarterly Results 12-Oct-23
PLASTIBLEN Quarterly Results 11-Oct-23 INDXTRA Quarterly Results 12-Oct-23
RSYSTEMINT Employees Stock Option Plan;General 11-Oct-23 INFY Interim Dividend;Audited Results 12-Oct-23
SAMHI Quarterly Results 11-Oct-23 ITHL Quarterly Results 12-Oct-23
SEL Quarterly Results 11-Oct-23 JTLIND Quarterly Results 12-Oct-23
SHAHLON General 11-Oct-23 KEIL General 12-Oct-23
SHAKTIPUMP General 11-Oct-23 KESORAMIND Quarterly Results 12-Oct-23
SIGNATURE Quarterly Results 11-Oct-23 KRL General;Quarterly Results 12-Oct-23
TCS Interim Dividend;Audited Results;Quarterly Results;Buy Back of Shares 11-Oct-23 KRRAIL General 12-Oct-23
TGVSL General 11-Oct-23 ROSELABS Quarterly Results 12-Oct-23
TOYAMSL General 11-Oct-23 SHAH Quarterly Results 12-Oct-23

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
JYOTISTRUC 11-Oct-23 E.G.M. KPIGREEN 20-Oct-23 Interim Dividend
REFNOL 11-Oct-23 Amalgamation NEOGEN 20-Oct-23 E.G.M.
ADVLIFE 13-Oct-23 Bonus issue 1:1 VINNY 23-Oct-23 E.G.M.
INFRATRUST 13-Oct-23 Income Distribution (InvIT) TCIEXP 26-Oct-23 Interim Dividend
MRP 13-Oct-23 Bonus issue 2:1 BCLIL 27-Oct-23 Stock  Split From Rs.10/- to Rs.1/-
RMC 13-Oct-23 Bonus issue 1:2 ICICIGI 27-Oct-23 Interim Dividend
CASPIAN 17-Oct-23 Final Dividend – Rs. – 0.0500 ISEC 27-Oct-23 Interim Dividend
GENSOL 17-Oct-23 Bonus issue 2:1 LTIM 27-Oct-23 Interim Dividend
GLS 17-Oct-23 Interim Dividend – Rs. – 22.5000 SVRL 27-Oct-23 Bonus issue 1:1
KAMAHOLD 17-Oct-23 Bonus issue 4:1 TALBROAUTO 27-Oct-23 Stock  Split From Rs.10/- to Rs.2/-
RUDRA 18-Oct-23 Stock  Split From Rs.10/- to Rs.5/- UNJHAFOR 30-Oct-23 E.G.M.
RUDRA 18-Oct-23 Bonus issue 1:1 ELECON 31-Oct-23 Interim Dividend
BCONCEPTS 19-Oct-23 Final Dividend – Rs. – 0.5000 NESTLEIND 01-Nov-23 Interim Dividend
RITCO 19-Oct-23 E.G.M. HINDUNILVR 02-Nov-23 Interim Dividend
SEMAC 19-Oct-23 Final Dividend – Rs. – 5.0000 ASIANPAINT 03-Nov-23 Interim Dividend
TCS 19-Oct-23 Interim Dividend HPAL 09-Nov-23 Stock  Split From Rs.10/- to Rs.2/-
ANANDRATHI 20-Oct-23 Interim Dividend INSECTICID 10-Nov-23 Interim Dividend
ANGELONE 20-Oct-23 Interim Dividend PGHL 13-Nov-23 Final Dividend – Rs. – 50.0000
HCLTECH 20-Oct-23 Interim Dividend PGHH 17-Nov-23 Final Dividend – Rs. – 105.0000

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)

Kiran Tahlani, 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 e-mailing 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
  2. 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;

  1. 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

Provided that research analyst or research entity shall not be required to make a disclosure as per sub-clauses (c), (d) and (e) of clause (ii) or sub-clauses (a) and (b) of clause (iii) to the extent such disclosure would reveal material non-public information regarding specific potential future investment banking or merchant banking or brokerage services transactions of the subject company.
(4) EWL or its proprietor has never served as an officer, director or employee of the subject company;
(5) EWL has never been engaged in market making activity for the subject company;
(6) EWL shall provide all other disclosures in research report and public a