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DAILY NEWS LETTER
Date: 22.10.2019
Nifty Short Term Trend
The Nifty 50 rebounded after a weak start on October 18 and
remained strong throughout the rest of the session helped by
news on government's strategic divestment and buying in
select key stocks like Reliance Industries, HDFC Group, PSU
stocks, among others. The index gained for the sixth
consecutive session to end at a 3-month closing high and
formed a bullish candle on the daily as well as weekly charts. As
the Nifty appears to have registered a downsloping trendline
breakout which is in progress from the highs of 12,103
registered on June 3 this year, there could be further upside in
coming session if index decisively crosses 11,700 levels. For the
day, Nifty needs to get past 11,700 levels on a closing basis to
march forward further with a target placed close to 11,800
levels. Meanwhile, a mild pause or correction can't be ruled out
in next couple of days as Nifty has almost seen a vertical
upmove, immediate supports for the day can be expected at
11,600-11,550.
Bank Nifty opened flattish but witnessed buying interest
towards 29,250 levels at later part of the session. The index
closed 0.45 percent higher at 29,120.25 and formed a bullish
candle on daily as well as weekly scale, as strong buying
interest was seen at lower levels. It is forming higher highs -
higher lows from past four sessions which indicates overall
strength. Now Bank Nifty has to hold above 28,750 to witness
momentum towards 29,500 then 30,000 levels while on the
downside supports are seen at 28,500 then 28,250 levels.
Levels to watch
R1 R2 S1 S2 Outlook for the Day Short term Outlook
NIFTY 11700 11800 11600 11550 Sideways Positive
BANK NIFTY 29500 30000 28500 28250 Sideways Positive
USD/INR 71.12 71.38 70.65 70.42 Positive Positive
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Financial & Economic Wrap Up
Leading cement maker UltraTech Cement
Ltd on October 21 said it has plans to invest Rs 940
crore to increase the production of premium products
for strengthening its position in eastern markets. The
board of the Aditya Birla group has approved
expansion of grinding capacities in Bihar and West
Bengal and to open a grinding unit in Odisha. "The
board at its meeting held today approved capex of Rs
940 crore for making premium products with an
increase in its grinding capacities in Bihar and West
Bengal by 0.6 mtpa (million tons per annum) each and
a new grinding unit of 2.2 million tonne in Odisha".
Mutual funds who invested in the debt papers
of Dewan Housing Finance (DHFL) are upset that the
crisis-hit NBFC is preferring to repay banks first. The
aggrieved mutual funds feel a good chunk of the loans
that DHFL gave to realty companies and other firms in
distress, may never be repaid. That means lenders to
DHFL standing at the back of queue may not be repaid
in full, or worse still, not repaid at all. DHFL has sold
some of the good quality loans in its books to banks.
Mutual funds are opposed to such deals and are
demanding that they are treated as retail
bondholders.
Infosys shares listed in the US market fell close to 16
percent in premarket trading on October 21 after the
company said it had received whistleblower
complaints alleging "unethical practices" by the
company's executives. Following reports that the
Infosys board and the US Securities and Exchange
Commission had been sent letters by an anonymous
group alleging "unethical" steps by the company to
boost short-term revenue and profit, Infosys issued an
official statement.
Taiwan-based Avision on October 21 said it plans to
install 3,000 units of its self-service copiers across the
country in partnership with various entities as it looks
to bring in affordable printing solutions for consumers
in India. The company, which has been working with
government agencies and banks in India over the last
decade, said its new device also integrates mobile
payment options that allow users to pay for printouts
digitally.
Indices Performance
Index LTP Previous Close % Change
S&P BSE Sensex 39298.38 39052.06 0.63
Nifty 50 11661.85 11586.35 0.65
Nifty Midcap 50 4465.00 4368.50 2.21
Nifty 500 9479.20 9391.00 0.94
Bank Nifty 29120.25 28989.45 0.45
Institutional Flows (Cash Segment)
Description (Rs in Cr) BUY SELL NET
FII Activity 5423.72 5387.16 36.56
DII Activity 5071.17 4484.29 586.88
FIIs Derivative Statistics
BUY SELL
No. of Contracts
Amount (INR. Cr.)
No. of Contracts
Amount (INR. Cr.)
Index Futures 45273 3222.72 52595 3782.63
Index Options 1967355 136609.42 1974721 136985.93
Stock Futures 269466 14129.29 262246 13473.47
Stock Options 133587 7352.83 132640 7295.72 Top OI Gainers
Scrip LTP % Change
in Price OI % Change
in OI
BHEL 54.55 21.90 16932 34.27
BEL 117 2.95 5780 12.10
BALKRISIND 839.9 5.19 2519 11.51
MANAPPURAM 153.85 6.91 3575 10.78
CONCOR 613.95 1.97 4514 10.12 Top OI Losers
Scrip LTP % Change
in Price OI % Change
in OI
MINDTREE 735.1 1.08 3764 -22.81
ACC 1558.55 1.26 8361 -9.62
CHOLAFIN 301.15 4.28 1397 -8.99
CENTURYTEX 401.4 3.27 5630 -6.51
YESBANK 51.55 8.41 139581 -6.26 Volume Spurt: Cash Segment
Scrip LTP Quantity
Change (%) Price Change
(%)
Bharat Heavy Elect Ltd. 54.35 17.29 21.86
HINDCOPPER 38.55 22.09 19.35
Reliance Power Limited 2.3 46.08 17.95
Oriental Bank of Comm. 49.5 52.09 -4.99
Zee Entertain. Enterp. 250.2 23.79 -5.39 **Change from average Quantity, rest other % are over previous day’s close unless otherwise mentioned
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Put Call Ratios
OI Wise Volume wise
BOSCHLTD 3.53 BEARISH BOSCHLTD 1.33 BEARISH
DLF 1.53 BEARISH INDIGO 1.14 BEARISH
HINDUNILVR 1.48 BEARISH HINDUNILVR 1.13 BEARISH
CUMMINSIND 1.46 BEARISH CHOLAFIN 1.07 BEARISH
BERGEPAINT 1.39 BEARISH TORNTPHARM 0.92 BEARISH
w
0
1,000,000
2,000,000
11100 11300 11500 11700 11900Op
en
Inte
rest
Strike Price
Open Interest-Call/Put
CE-OI PE-OI
-500000
0
500000
1000000
1500000
Ch
ange
in IO
Strike Price
Change in Open Interest - Call/Put
Change in OI-CE Change in OI-PE
Nifty OI – Call Put Analysis
F&O Wrap-up
• Nifty October series future closed at 11672 Premium of 10.15 Point compared to Nifty spot which closed at 11661.85
• Nifty OI wise Put-Call ratio stood at 1.27 and volume wise put-call ratio stood at 1.03
• India VIX has decreased by 0.31 percent and closed at 15.9275
• The open interest in Nifty Futures increased from 14,30,233 to 15,34,285
Quarterly Results Today (Q2)
ASIAN PAINTS LTD. Indiabulls Ventures Limited MUTHOOT CAPITAL SERVICES LTD.
AXIS BANK LTD. ICICI Prudential Life Insurance Co. ORIENTAL BANK OF COMMERCE
BAJAJ FINSERV LTD. ICICI Securities Ltd RALLIS INDIA LTD.
Bajaj Finance Limited Jubilant FoodWorks Ltd RBL Bank Ltd
CCL PRODUCTS (INDIA) LTD. KOTAK MAHINDRA BANK LTD. Syngene International Ltd
CEAT LTD. M&M FINANCIAL SERVICES LTD. TINPLATE COMPANY OF INDIA LTD.
COROMANDEL INTERNATIONAL BANK OF MAHARASHTRA TV TODAY NETWORK LTD.
GRANULES INDIA LTD. MANGALORE CHEMICALS & FERTILIZERS Welspun Corp Limited
Corporate Action
Company Ex-Date Purpose Record Date
AMALGAMATED ELECTRICITY CO.LTD. 24-Oct-19 Stock Split From Rs.10/- to Rs.5/- 25-Oct-19
Artemis Global Life Sciences Ltd 24-Oct-19 Amalgamation 25-Oct-19
Larsen & Toubro Infotech Ltd 24-Oct-19 Interim Dividend - Rs. - 12.5000 26-Oct-19
MASTEK LTD. 24-Oct-19 Interim Dividend - Rs. - 3.0000 26-Oct-19
MINDTREE LTD. 24-Oct-19 Interim Dividend - Rs. - 3.0000 25-Oct-19
INDIA MOTOR PARTS & ACCESSORIES LTD. 25-Oct-19 Bonus issue 1:2 29-Oct-19
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