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DAILY NEWS LETTER

Date: 01.10.2019

Nifty Short Term Trend

The Nifty on September 30 recouped more than half of its

losses in the last hour of the trade to close off the day's low,

decisively defending the crucial support of 11,400. The index

ended above its 5-EMA placed around 11,450 and formed a

hammer pattern on daily charts as decline was being bought

into the market but with supply intact in higher zones. The

hammer is a bullish reversal pattern formed after a decline. If

the index sees a positive trend then the bullish implication

could take it towards 11,600-11,700 in the coming sessions. The

Nifty opened lower at 11,491.15 and hit an intraday low of

11,390.80, but the buying interest at lower levels helped it

recover more than half of losses to touch the day's high of

11,508.25. Finally, it settled at 11,474.50, down 37.90 points

from the previous close. Nifty50 continued its corrective and

consolidation phase into the 5th trading session before smartly

recoiling from the intraday lows of 11,390, after testing its 100-

day moving average (11,408), which resulted in a hammer kind

of formation. Now Nifty has to hold its strength above 11,400

to gain more upside until 11,500-11,575 while on the downside

immediate supports can be expected around 11,400-11,325.

The Bank Nifty broadly underperformed the benchmark index

and corrected sharply towards 29,000 levels. The index closed

2.6 percent lower at 29,103.85 and formed a bearish belt hold

candle on the daily scale, negating its higher lows formation

after three trading sessions. Bank Nifty needs to hold above

29,400 levels to witness a bounce towards 29,750 levels, while

a hold below the same could drag towards 28,750-28,500.

Levels to watch

R1 R2 S1 S2 Outlook for the Day Short term Outlook

NIFTY 11500 11575 11400 11325 Sideways Positive

BANK NIFTY 29400 29750 28750 28500 Sideways Positive

USD/INR 70.89 71.10 70.45 70.21 Positive Positive

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Financial & Economic Wrap Up

Rushing to meet the RBI deadline of October 1, many

public sector lenders like Canara and Corporation Bank

announced launch of repo rate linked lending rate for

faster transmission of interest rate cut to borrowers.

Earlier this month, the Reserve Bank of India (RBI)

made it mandatory for banks to link their retail and

MSME loans to external interest rate benchmarks

effective October 1 for faster transmission of rate cut

to borrowers. With banks launching this product, rates

for home, car and personal loans will come down.

Cadila Healthcare on Monday said it has inked a pact

to sell rights of its cholesterol lowering product

Zypitamag in the US and Canada markets to Medicure

lnc for a total consideration of $7 million. Canada-

headquartered Medicure had earlier acquired US

marketing rights for the product with a profit-sharing

arrangement with Cadila. The company has entered

into an asset purchase agreement to sell its right, title

and interest in Zypitamag, along with applicable

registrations and intangible assets relating to the

product for US and Canada markets to drug firm

Medicure, Cadila Healthcare said in a regulatory filing.

Sugar mills can sell 21 lakh tonne of the sweetener in

the open market during the festival month of October,

the government order said on Monday. The food

ministry has increased the allocation for October from

19.5 lakh tonne in September keeping in view festivals

of Dussehra and Diwali.

The country's fiscal deficit touched Rs 5.54 lakh crore

at the end of August, which was 78.7 per cent of the

Budget Estimate for 2019-20, official data showed on

Monday. In absolute terms, the fiscal deficit or the gap

between expenditure and revenue was Rs 5,53,840

crore as on August 31, according to the data released

by the Controller General of Accounts (CGA). The

deficit was at 86.5 per cent of the 2018-19 Budget

Estimate (BE) in corresponding month a year ago. The

government has pegged the fiscal deficit for the

current financial year at Rs 7.03 lakh crore, while

aiming to restrict the deficit at 3.3 per cent of the

gross domestic product (GDP).

Indices Performance

Index LTP Previous Close % Change

S&P BSE Sensex 38667.33 38822.57 -0.40

Nifty 50 11474.45 11512.40 -0.33

Nifty Midcap 50 4394.00 4461.15 -1.51

Nifty 500 9340.90 9395.60 -0.58

Bank Nifty 29103.15 29876.65 -2.59

Institutional Flows (Cash Segment)

Description (Rs in Cr) BUY SELL NET

FII Activity 5662.31 6131.71 -469.40

DII Activity 5315.00 4810.31 504.69

FIIs Derivative Statistics

BUY SELL

No. of Contracts

Amount (INR. Cr.)

No. of Contracts

Amount (INR. Cr.)

Index Futures 67573 4889.09 56789 4188.34

Index Options 2861819 196286.48 2848767 195262.61

Stock Futures 276382 14470.86 283381 14652.67

Stock Options 79361 4274.88 79904 4297.45 Highest Rollover

Scrip LTP % Change

in Price OI % Change

in OI

IDFCFIRSTB 16065 38.25 192780000 16.11

RBLBANK 12150 325.45 14580000 12.64

PEL 18522 1617.6 5593644 12.33

HDFCBANK 79668 1237.45 39834000 10.97

HEXAWARE 1529 383.05 2293500 9.61 Lowest Rollover

Scrip LTP % Change

in Price OI % Change

in OI

MANAPPURAM 2024 141.55 12144000 -10.92

CONCOR 3003 607.95 4693689 -9.66

JUBLFOOD 4131 1359.25 2065500 -8

ZEEL 23178 266.95 30131400 -7.84

STAR 2154 305.4 2584800 -7.67 Volume Spurt: Cash Segment

Scrip LTP Quantity

Change (%) Price Change

(%)

VODAFONE IDEA 6.15 17.36 8.85

SONATA SOFTWARE LTD 330.95 38.97 8.67

YES BANK LIMITED 41.4 15.42 -15.08

IBULHSGFIN 255.9 8.11 -34.4

VODAFONE IDEA LIMITED 6.15 17.36 8.85 **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

TORNTPHARM 3.14 BEARISH TORNTPHARM 17.67 BEARISH

M&MFIN 1.41 BEARISH TORNTPOWER 5.19 BEARISH

JUSTDIAL 0.97 BEARISH GODREJCP 2.57 BEARISH

ULTRACEMCO 0.94 BEARISH M&MFIN 1.89 BEARISH

RELIANCE 0.94 BEARISH HINDUNILVR 1.80 BEARISH

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Nifty OI – Call Put Analysis

F&O Wrap-up

• Nifty September series future closed at 11534.6 Premium of 60.15 Point with respect to nifty spot which closed at 11474.45

• The Nifty OI wise Put-Call ratio stood at 0.96 and volume wise put-call ratio stood at 0.84

• India VIX has decreased by 1.11 percent and closed at 15.9350

• The open interest in Nifty Futures increased from 13,32,260 to 14,64,962

Quarterly Results Today (Q1)

Corporate Action

Company Ex-Date Purpose Record Date

FILATEX FASHIONS LTD. 3-Oct-19 Dividend - Rs. - 0.0200 -

MUKESH BABU FINANCIAL SERVICES LTD. 3-Oct-19 Dividend - Rs. - 1.2000 4-Oct-19

SACHETA METALS LTD. 3-Oct-19 Dividend - Rs. - 0.2500 4-Oct-19

Vasundhara Rasayans Ltd 3-Oct-19 Dividend - Rs. - 1.0000 4-Oct-19

Bhakti Gems and Jewellery Ltd 4-Oct-19 - 7-Oct-19

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