Download - DAILY NEWS LETTER Date: 09.10
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DAILY NEWS LETTER
Date: 09.10.2019
Nifty Short Term Trend
The Nifty attempted a pull-back amid volatility but a selloff in
the late trade dragged the index to close near the day's low on
October 7, as worries over the September quarter earnings and
broader economy remain. After opening higher at 11,196.20,
the Nifty attempted a pullback near its 200-day exponential
moving average, which is placed at 11,218 and hit an intraday
high of 11,233.85, but got caught in bear trap in late trade and
hit the day's low of 11,112.65. The index managed to hold its
crucial support of 11,100, but if it breaks below then there
could be sharp selling pressure in the coming sessions. Bulls
have one more reason to worry as the Moving Average
Convergence and Divergence, popularly known as MACD, gave
a 'sell' signal on the daily charts for the first time since
September 19. For the, Nifty has to hold above 11,100 to gain
more strength until higher levels near 11,150-11,210 while on
the downside immediate supports can be expected near
11,100-11,000.
The Bank Nifty opened positive and extended its gains towards
28,200 in the first half of the session. However, it wiped out all
the gains and drifted towards 27,750 to form a bearish candle
on the daily scale, as follow-up buying was missing at higher
zones. Resistance for Bank Nifty are gradually shifting lower and
now till it holds below 28,000, weakness could be seen towards
next support of 27,500 then 27,250 levels, while on the upside,
immediate hurdle can be seen at 28,250-28,500 levels.
Levels to watch
R1 R2 S1 S2 Outlook for the Day Short term Outlook
NIFTY 11150 11210 11100 11000 Sideways Bearish
BANK NIFTY 28250 28500 27500 27250 Sideways Bearish
USD/INR 71.31 71.58 70.95 70.71 Positive Positive
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Financial & Economic Wrap Up
Drug firm Bliss GVS Pharma has said its subsidiary
Kremoint Pharma has cleared an inspection of its
Ambernath facility in Maharashtra by the US health
regulator. The inspection by the United States Food
and Drug Administration (USFDA) was conducted from
June 17-20, 2019, Bliss GVS Pharma said in a
statement. The government has started a probe to see
whether the expiry of existing anti-dumping duty on
certain hot-rolled steel products from China, Malaysia
and South Korea would lead to continuation of
dumping of the product, following complaints by the
domestic industry.
According to a notification of the Directorate General
of Trade Remedies (DGTR), Jindal Stainless (Hisar) Ltd
and Jindal Stainless Ltd have jointly filed a review
petition for continued imposition of the existing anti-
dumping duty on the imports of 'Hot Rolled Flat
Products of Stainless Steel-304 grade' from China ,
Malaysia and Korea. "The successful audit outcome
from USFDA is a reflection of the steady progress that
we are making into the mature pharma markets," Bliss
GVS Pharma VP-Strategy & Business Development
Gagan Harsh Sharma said.
Yes Bank on October 7 said it continues to explore
various means of raising capital to meet its business
requirement. The lender's response came to a
clarification sought by exchanges on reports that the
bank was in talks with Microsoft Corp and two other
tech companies to rope them in as strategic investors
as part of its efforts to raise capital. "The bank in the
usual and ordinary course of its business continues to
explore various means of raising capital/funds through
issuance of securities to diverse set of investors, in
order to meet its business/regulatory
requirements," Yes Bank said in a regulatory filing.
Drug firm Aurobindo Pharma on October 7 said it has
received seven observations from the US health
regulator for its unit-7 in Telangana. The United States
Food and Drug Administration (USFDA) conducted a
Current Good Manufacturing Practices (CGMP)
inspection at the company's unit-7 manufacturing
facility from September 19 to 27, Aurobindo Pharma
said in a filing to the BSE. The inspection ended with
seven observations, it added.
Indices Performance
Index LTP Previous Close % Change
S&P BSE Sensex 37531.98 37673.31 -0.38
Nifty 50 11168.05 11174.75 -0.06
Nifty Midcap 50 4222.00 4237.25 -0.36
Nifty 500 9040.65 9091.65 -0.56
Bank Nifty 27765.55 27731.85 0.12
Institutional Flows (Cash Segment)
Description (Rs in Cr) BUY SELL NET
FII Activity 3023.15 3517.36 -494.21
DII Activity 4191.17 3286.35 904.82
FIIs Derivative Statistics
BUY SELL
No. of Contracts
Amount (INR. Cr.)
No. of Contracts
Amount (INR. Cr.)
Index Futures 55090 3829.78 45353 3219.24
Index Options 2839848 184434.97 2829470 183668.41
Stock Futures 230445 11881.12 223635 11496.56
Stock Options 83534 4453.58 84534 4492.88
Top OI Gainers
Scrip LTP % Change
in Price OI % Change
in OI
AUROPHARMA 460.7 -19.30 27140 49.13
TORNTPHARM 1603.25 -1.82 798 20.36
NATIONALUM 43.05 -0.81 5289 19.12
BERGEPAINT 427.95 1.17 2712 15.60
GLENMARK 287.25 -9.23 7643 15.14 Top OI Losers
Scrip LTP % Change
in Price OI % Change
in OI
MFSL 409.3 0.34 2855 -7.00
APOLLOHOSP 1410.65 0.60 3616 -5.71
IOC 148.95 -1.72 16948 -4.77
CUMMINSIND 561.85 1.78 2512 -4.38
CENTURYTEX 862 -0.91 5897 -4.04 **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 14.67 BEARISH TORNTPHARM 6.21 BEARISH
CUMMINSIND 2.06 BEARISH CADILAHC 2.23 BEARISH
MRF 2.00 BEARISH CUMMINSIND 1.91 BEARISH
TORNTPHARM 1.88 BEARISH JUSTDIAL 1.87 BEARISH
ZEEL 1.11 BEARISH CIPLA 1.59 BEARISH
w
0
1,000,000
2,000,000
3,000,000
10900 11100 11300 11500 11700Op
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Inte
rest
Strike Price
Open Interest-Call/Put
CE-OI PE-OI
-1000000
0
1000000
2000000
10
90
0
11
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11
10
0
11
20
0
11
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0
11
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0
11
60
0
11
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0Ch
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 11151 Premium of 24.60 Point with respect to nifty spot which closed at 11126.40
• The Nifty OI wise Put-Call ratio stood at 0.86 and volume wise put-call ratio stood at 0.93
• India VIX has increased by 1.42 percent and closed at 17.8300
• The open interest in Nifty Futures increased from 14,99,783 to 15,75,402
Quarterly Results Today (Q1)
GOA CARBON LTD.
HEXA TRADEX LTD.
JUPITER INDUSTRIES & LEASING LTD.
NATH PULP & PAPER MILLS LTD.
RAMA PULP & PAPERS LTD.
Umiya Tubes Ltd
Corporate Action
Company Ex-Date Purpose Record Date
GOCL Corporation Ltd 14-Oct-19 Interim Dividend - Rs. - 2.0000 15-Oct-19
PG INDUSTRY LTD. 14-Oct-19 Stock Split From Rs.10/- to Rs.5/- 15-Oct-19
Shreeji Translogistics Ltd 14-Oct-19 Bonus issue 2:1 15-Oct-19
India Infrastructure Trust 15-Oct-19 Income Distribution (InvIT) 16-Oct-19
Satia Industries Ltd 15-Oct-19 Stock Split From Rs.10/- to Rs.1/- 16-Oct-19
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