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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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