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DAILY NEWS LETTER

Date: 18.10.2019

Nifty Short Term Trend

The Nifty 50 remained rangebound early in the day before

gaining momentum and closing near day's high on October 17.

Market sentiment was lifted by news of the European Union

(EU) and the United Kingdom agreeing on a Brexit deal, and

back home Finance Minister Nirmala Sitharaman's assurance to

international investors that government was working to bring

reforms. The index formed a bullish candle on daily charts and

almost approached the resistance point of a downsloping

trendline which is in progress from the highs of 12,103

registered on June 3 whose value for next session is placed

around 11,630 levels. The significance of downsloping trendline

stems from the fact that Nifty recently witnessed selling

pressure after testing the same trendline with a high of 11,695

levels registered on September 23. Hence, a decisive close

above this trendline shall confirm that a fresh leg of the

upswing is in progress from recent lows of 11,090 levels. For

the day, until Nifty sustains above 11,550 we can expect some

more upside near 11,620-11,650 while on the downside

immediate support can be expected near 11,500-11,440.

Bank Nifty finally surpassed its consolidation band of 27,500 to

28,800 levels after nine trading sessions and closed at

28,989.45, up 1.58 percent, forming a bullish candle on the

daily scale as buying interest was seen at the latter part of the

session and started to formed higher highs – higher lows for

past three sessions. Bank Nifty has to hold above 27,750 levels

to extend its gains towards 29,250-29,500 while immediate

supports can be seen at 28,500-28,250.

Levels to watch

R1 R2 S1 S2 Outlook for the Day Short term Outlook

NIFTY 11620 11650 11500 11440 Sideways Positive

BANK NIFTY 29250 29500 28500 28250 Sideways Positive

USD/INR 71.35 71.58 70.95 70.70 Positive Positive

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Financial & Economic Wrap Up

Reliance Capital on October 17 said payment of

interest/principal obligations for two non-convertible

debentures (NCD) has been delayed. The payments

were due on Wednesday and Thursday. Referring to

an earlier communication to stock exchanges,

unwarranted and unjustified rating action on

September 20, 2019, CARE Ratings (CARE) had

downgraded the company's entire outstanding debt to

default "CARE D" rating, even though there were no

overdues on principal or interest payment to any

lender.

World Bank President David Malpass said on Thursday

that clarity over Britain's exit from the European Union

would strengthen the outlook for global growth, aiding

both rich nations and the developing world. "If there

were clarity in that outlook it would help the growth

environment quite a bit," Malpass told reporters

during the IMF and World Bank fall meetings after the

EU and Britain, the world's fifth-largest economy,

announced a tentative deal. After several days of

negotiations, Prime Minister Boris Johnson on

Thursday said that Britain and the EU had agreed a

"great" new Brexit deal, but it must still be approved

by the British parliament.

Bankrupt infra major IL&FS on October 17 completed

the sale of its 51 percent stake in seven wind power

special purpose vehicles to Orix Corporation of Japan

for Rs 4,800 crore. With this, Orix, which previously

owned 49 percent in each of these seven projects,

now has 100 percent ownership, the company said in

a statement.

The board of InterGlobe Aviation will meet on October

24 to consider financial results for the three months

ended September. The meeting also comes against the

backdrop of differences between promoters Rahul

Bhatia and Rakesh Gangwal wherein Bhatia has also

initiated arbitration proceedings in London.

State-run power producer NTPC on October 17 said it

plans to raise $100 million (around Rs 711 crore) from

international markets to finance its capital

expenditure. The plan also includes a green shoe

option of up to $300 million (about Rs 2,135 crore).

NTPC Ltd is planning to raise funds by way of a term

loan from the international markets to finance its

capital expenditure.

Indices Performance

Index LTP Previous Close % Change

S&P BSE Sensex 39052.06 38598.99 1.17

Nifty 50 11586.35 11464.00 1.07

Nifty Midcap 50 4368.50 4275.40 2.18

Nifty 500 9391.00 9281.85 1.18

Bank Nifty 28989.45 28538.80 1.58

Institutional Flows (Cash Segment)

Description (Rs in Cr) BUY SELL NET

FII Activity 5659.99 4501.36 1158.63

DII Activity 5050.01 3473.28 1576.73

FIIs Derivative Statistics

BUY SELL

No. of Contracts

Amount (INR. Cr.)

No. of Contracts

Amount (INR. Cr.)

Index Futures 66227 4810.61 55015 4016.75

Index Options 5978956 383265.98 5907745 378682.8

Stock Futures 278424 13876.94 252070 12641.59

Stock Options 102116 5334.49 102469 5310.23

Top OI Gainers

Scrip LTP % Change

in Price OI % Change

in OI

PVR 1847.9 1.03 4701 49.05

ZEEL 263 0.88 51028 44.51

TVSMOTOR 430.6 6.61 12896 33.35

MINDTREE 727.75 -1.95 5038 23.54

EXIDEIND 178.15 -3.05 7363 22.47 Top OI Losers

Scrip LTP % Change

in Price OI % Change

in OI

JUSTDIAL 608.6 3.89 3939 -7.19

TORNTPHARM 1694.65 2.97 1132 -6.37

WIPRO 248.75 -0.34 13045 -5.80

FEDERALBNK 84.55 2.67 11773 -5.41

SBIN 265.55 3.37 71885 -4.19 **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 3.86 BEARISH INDIGO 1.59 BEARISH

CUMMINSIND 1.64 BEARISH GRASIM 1.44 BEARISH

HINDUNILVR 1.47 BEARISH CHOLAFIN 1.25 BEARISH

BAJFINANCE 1.47 BEARISH TORNTPHARM 1.22 BEARISH

DLF 1.35 BEARISH INFRATEL 1.13 BEARISH

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Open Interest-Call/Put

CE-OI PE-OI

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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 11600.65 Premium of 14.30 Point compared to Nifty spot which closed at 11586.35

• Nifty OI wise Put-Call ratio stood at 1.21 and volume wise put-call ratio stood at 1.09

• India VIX has decreased by 3.08 percent and closed at 15.8550

• The open interest in Nifty Futures increased from 16,24,443 to 18,49,627

Quarterly Results Today (Q2)

AMBUJA CEMENTS LTD. L&T FINANCE HOLDINGS LTD. SACHETA METALS LTD.

BENGAL STEEL INDUSTRIES LTD. L&T Technology Services Ltd Sasken Technologies Ltd

BIOPAC INDIA CORPORATION LTD NATIONAL PLASTIC TECHNOLOGIES Sanathnagar Enterprises Limited

CHOKSI IMAGING LTD. PIONEER DISTILLERIES LTD. SNL BEARINGS LTD

Duncan Engineering Ltd QGO Finance Ltd STANROSE MAFATLAL INVEST. & FIN.

ICICI Lombard General Insurance RADHE DEVELOPERS (INDIA) LTD. SUNDARAM-CLAYTON LTD.

KIRLOSKAR FERROUS INDUSTRIES RELIANCE INDUSTRIES LTD. VISA STEEL LTD.

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

ICICI Prudential Capital Protection Oriented Fund Series IX 1378 Days Plan D Regular Pln Cumu Opt 24-Oct-19 Redemption of Mutual Fund -

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

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