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DAILY NEWS LETTER

Date: 14.10.2019

Nifty Short Term Trend

The Nifty50 gained strength in last couple of hours of trade and

closed with more than half a percent gains on October 11. The

gains were driven by technology (except TCS), metals, selected

auto and FMCG stocks. The index closed above 11,300 levels

after trading in a range of 180 points and registered a Spinning

Top kind of indecisive formation on daily charts, but formed

bullish candle on weekly scale. Spinning Top is often regarded

as a neutral pattern, which suggests indecisiveness on the part

of both bulls and bears. Friday's price behaviour, though

indecisive, can be termed as a positive sign and hence once

Nifty manages a close above 11,400 levels, then it can extend

the rally towards 11,550. Although critical support for Nifty on

downsides continues to remain around 11,090 levels, for short

term traders, 11,190 shall remain important supports. While on

the higher side, if Nifty sustains above 11,300 then it can lead

to the test of 11,340-11,400.

Bank Nifty remained highly volatile and continued to trade in

wider range between 27,500-28,600 levels. The index closed

0.08 percent higher at 28,036.35 and formed a bearish candle

on daily scale while small bodied candle on weekly scale with

long upper shadow which suggests that selling pressure is seen

at higher zones. The index has got stuck in broader trading

range between 27,600 to 28,800 levels from past six trading

sessions and volatile swings are likely to continue in this wider

range. Now Bank Nifty needs to hold and sustain above 28,250

to witness a bounce towards 28,550-28,800 levels while on the

downside major support is seen at 27,500-27,250.

Levels to watch

R1 R2 S1 S2 Outlook for the Day Short term Outlook

NIFTY 11340 11400 11250 11190 Sideways Positive

BANK NIFTY 28550 28800 27500 27250 Sideways Positive

USD/INR 71.15 71.38 70.70 70.52 Positive Positive

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Financial & Economic Wrap Up

India is investing over $60 billion in developing natural

supply and distribution infrastructure as it chases the

target of more than doubling the share of natural gas

in its energy base to 15 percent by 2030, Oil Minister

Dharmendra Pradhan said on October 13. Natural gas

currently constitutes 6.2 percent of all energy

consumption in the country. Stating that the

government has laid emphasis on developing a gas-

based economy, he said natural gas is gradually

becoming a bridging fuel for low carbon economy in

India.

On October 11, a local Delhi court sent Malvinder

Singh and Shivinder Singh to four-day policy custody.

The Singh brothers have been accused of causing

wrongful loss of Rs 2,397 crore to Religare Finvest

(RFL). Religare Finvest is the NBFC arm of Religare

Enterprises, once promoted by Singh brothers. The

court observed that the offence was of “very serious

nature.” Along with Singh brothers, former Religare

Enterprises MD Sunil Godhwani, ex-CEO of Religare

Finvest Kavi Arora and former CFO Anil Saxena, were

also sent to police custody. Malvinder Singh has

meanwhile moved the Delhi High Court to quash the

FIR against him.

The World Bank slashed its economic growth forecast

for India to 6% for the current fiscal from its April

projection of 7.5%, citing a broad-based and

severe cyclical slowdown. Growth is expected to

gradually recover to 6.9% in 2020-21 and to 7.2% the

following year, the Washington-based bank said in its

South Asian Economic Focus report released on

Sunday.

Foreign portfolio investors withdrew over Rs 6,200

crore from Indian capital markets in the first two

weeks of October, as global recession fears and trade

war concerns weighed on sentiments. Foreign

investors pulled out a net amount of Rs 4,955.2 crore

from the equities and Rs 1,261.9 from the debt

segment, taking the total net withdrawal to Rs 6,217.1

crore during October 1-11, as per latest depositories

data.

Indices Performance

Index LTP Previous Close % Change

S&P BSE Sensex 38127.08 37880.40 0.65

Nifty 50 11305.05 11234.55 0.63

Nifty Midcap 50 4254.60 4255.15 -0.01

Nifty 500 9161.40 9112.75 0.53

Bank Nifty 28042.50 28013.45 0.10

Institutional Flows (Cash Segment)

Description (Rs in Cr) BUY SELL NET

FII Activity 5721.61 4971.87 749.74

DII Activity 3607.44 4310.46 -703.02

FIIs Derivative Statistics

BUY SELL

No. of Contracts

Amount (INR. Cr.)

No. of Contracts

Amount (INR. Cr.)

Index Futures 79502 5374.32 71267 4712.84

Index Options 3052900 208576.60 3068249 209437.67

Stock Futures 266434 13486.04 274216 14167.11

Stock Options 115158 6436.26 112430 6281.03 Top OI Gainers

Scrip LTP % Change

in Price OI % Change

in OI

CENTURYTEX 2327 394.5 1396200 39.84

IGL 1459 371.7 4012250 23.96

MINDTREE 2474 721 1484400 18.83

IBULHSGFIN 36360 199.15 29088000 13.1

ICICIPRULI 4793 437.65 7189500 13.07 Top OI Losers

Scrip LTP % Change

in Price OI % Change

in OI

JUSTDIAL 1924 618 2693600 -2.14

CANBK 6167 179.7 12334000 -2.1

STAR 2306 317 2767200 -1.91

EQUITAS 2593 100.1 10372000 -1.78

MRF 1934 61800 19340 -1.43 Volume Spurt: Cash Segment

Scrip LTP Quantity

Change (%) Price Change

(%)

BANDHAN BANK 583.5 43.46 15.17

GRUH FINANCE LIMITED 302.6 61.23 10.9

IBULHSGFIN 209.9 6.42 7.45

RBL BANK LIMITED 266.45 19.51 -7.64

Reliance Capital Limited 17.5 24.84 -12.28 **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 7.17 BEARISH TORNTPHARM 2.52 BEARISH

CUMMINSIND 1.96 BEARISH INDIGO 1.69 BEARISH

TORNTPHARM 1.27 BEARISH BAJAJFINSV 1.55 BEARISH

EQUITAS 1.23 BEARISH HINDPETRO 1.46 BEARISH

DLF 1.10 BEARISH DLF 1.40 BEARISH

w

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2,000,000

11100 11300 11500 11700 11900Op

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Strike Price

Open Interest-Call/Put

CE-OI PE-OI

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1,000,000

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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 11311.7 Premium of 6.65 Point compared to Nifty spot which closed at 11305.05

• 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 0.74 percent and closed at 17.1000

• The open interest in Nifty Futures increased from 13,47,750 to 14,73,257

Quarterly Results Today (Q1)

ASAHI SONGWON COLORS LTD. PVV Infra Ltd

DELTA CORP LTD.

Earum Pharmaceuticals Ltd

GTPL Hathway Ltd

HINDUSTAN UNILEVER LTD.

PRISM MEDICO AND PHARMACY LTD.

Corporate Action

Company Ex-Date Purpose Record Date

GRUH FINANCE LTD. 16-Oct-19 Amalgamation 17-Oct-19

AVANTEL LTD. 17-Oct-19 Interim Dividend - Rs. - 2.0000 18-Oct-19

NIIT LTD. 17-Oct-19 Buy Back of Shares 18-Oct-19

TATA CONSULTANCY SERVICES LTD. 17-Oct-19 Interim Dividend - Rs. - 5.0000 18-Oct-19

TATA CONSULTANCY SERVICES LTD. 17-Oct-19 Special Dividend - Rs. - 40.0000 18-Oct-19

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