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DAILY NEWS LETTER

Date: 11.10.2019

Nifty Short Term Trend

The Nifty remained under pressure throughout the session and

wiped out around 40 percent of the previous day's gains on

October 10. The sell-off was led by banking stocks after

IndusInd Bank Q2 earnings and commentary signalled concerns

over asset quality. The index closed below 11,250 levels but

bounced back after testing the 200-day exponential moving

average (DEMA), placed at 11,219, with an intraday low of

11,208.55, and formed a bearish candle on the daily charts. It

appears to be the day of consolidation on the bourses, after the

231 points rally witnessed in Wednesday's session as the

Nifty50 registered a small bearish candle with a narrow range

of 85 points before signing off the day. If the Nifty sustains

above 11,208 levels (intraday low), it should stabilise and

resume its upmove with an initial target of 11,321. A strong

close above it, could can take the Nifty towards its critical

resistance of 11,400. But, if it counter trades below 11,208

levels for at least 30 minutes, then intraday selling can resume

with initial targets of 11,130.

Bank Nifty fell sharply, though it managed to close marginally

above 28,000 levels. The index closed 2.68 percent lower at

28,013.45, wiping out 75 percent of previous day's gains and

formed a bearish candle that resembled a bearish belt hold kind

of pattern on the daily charts. If Bank Nifty hold and sustain

above a psychological mark of 28,000 then we might see upper

levels near 28,300-28,500 while if it holds below it for some

time then immediate supports for the day can be expected near

27,800-27,550.

Levels to watch

R1 R2 S1 S2 Outlook for the Day Short term Outlook

NIFTY 11321 11400 11208 11130 Sideways Positive

BANK NIFTY 28300 28500 27800 27550 Sideways Positive

USD/INR 71.05 71.31 70.67 70.49 Positive Positive

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Financial & Economic Wrap Up

After becoming a sole promoter of Reliance Nippon

Life Asset Management, Nippon Life Insurance of

Japan is open to more acquisitions in the domestic

mutual fund industry. In a candid chat

with Moneycontrol, Minoru Kimura, Executive Officer,

head of Asia Pacific, Nippon Life Insurance, said: "If

there is a good opportunity to extend our capacity into

new areas, or new asset class we are very much open

to inorganic growth." He was quick to add that Nippon

Life will not make the acquisition for the sake of

buying but the company should add significant value

to their existing business. India's fifth-largest asset

management company, Reliance Nippon Asset

Management (RNAM) – which manages assets worth

Rs 2.02 lakh crore as of September 2019 – has been

fully taken over by partner Nippon Life Insurance. The

fund house is now called Nippon India Mutual Fund

(NIMF).

Leading helmet manufacturer Steelbird Hi-Tech India

on Thursday said it is investing Rs 150 crore across its

three plants in Baddi (Himachal Pradesh) as it looks to

cater to increased demand across the country

following the implementation of the new Motor

Vehicles Act. The company, which sold around 9 lakh

helmets in April-June quarter, saw sales jump in

September with offtake increasing to 6 lakh units in

just a single month. With additional capacity in place

by December this year, the company aims to sell

around 11 lakh units per month.

Shares of Yes Bank continued to trade weak, slipping 7

percent intraday on October 10. The bank announced

the appointment of Anita Pai as its chief operating

officer and Jasneet Bachal as its chief marketing

officer. Anita Pai was the Senior General Manager and

Head of ATM Business, Branch banking Service and

Phone Banking at ICICI Bank. She has also been

associated with ICICI Prudential Life Insurance

Company Limited and HDFC Limited.

The Bombay High Court, on October 10, has allowed

Edelweiss Asset Management Company’s plea for the

disclosure of all assets of Dewan Housing Finance

(DHFL). However, the court said that the existing

restraint on DHFL's ability to make payments to third

parties will continue.

Indices Performance

Index LTP Previous Close % Change

S&P BSE Sensex 37880.40 38177.95 -0.78

Nifty 50 11234.55 11313.30 -0.70

Nifty Midcap 50 4255.15 4306.50 -1.19

Nifty 500 9112.75 9177.95 -0.71

Bank Nifty 28013.45 28785.85 -2.68

Institutional Flows (Cash Segment)

Description (Rs in Cr) BUY SELL NET

FII Activity 4763.46 5026.57 -263.11

DII Activity 4043.14 3540.47 502.67

FIIs Derivative Statistics

BUY SELL

No. of Contracts

Amount (INR. Cr.)

No. of Contracts

Amount (INR. Cr.)

Index Futures 55364 3629.11 62395 4313.77

Index Options 6379770 402790.87 6315534 398382.97

Stock Futures 227462 11723.98 237401 11950.73

Stock Options 86571 4811.85 88502 4904.28 Top OI Gainers

Scrip LTP % Change

in Price OI % Change

in OI

TORNTPHARM 963 1670 481500 41

NATIONALUM 6028 40.4 60280000 25.56

IBULHSGFIN 32149 190.8 25719200 20.27

JUSTDIAL 1966 610.45 2752400 10.02

ICICIPRULI 4239 443.7 6358500 7.59 Top OI Losers

Scrip LTP % Change

in Price OI % Change

in OI

CENTURYTEX 1664 880.95 998400 -48.13

NIITTECH 938 1360.3 703500 -12.09

INFRATEL 2768 256.85 5536000 -10.59

IDEA 18855 6.15 527940000 -10.49

MFSL 2143 407.25 2571600 -9.54 Volume Spurt: Cash Segment

Scrip LTP Quantity

Change (%) Price Change

(%)

VODAFONE IDEA 6.2 37.77 5.98

BANDHAN BANK 506.65 54.39 5.43

THYROCARE 526.6 43.62 5.23

Jain Irrigation Systems 14.1 42.72 -12.42

IBULHSGFIN 195.35 10.28 -18.54 **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

CUMMINSIND 2.02 BEARISH OIL 12.00 BEARISH

TORNTPHARM 1.56 BEARISH CUMMINSIND 1.64 BEARISH

EQUITAS 1.14 BEARISH TORNTPHARM 1.62 BEARISH

PVR 1.12 BEARISH MARUTI 1.50 BEARISH

MFSL 1.09 BEARISH DLF 1.33 BEARISH

w

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2,000,000

4,000,000

11100 11300 11500 11700 11900Op

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Strike Price

Open Interest-Call/Put

CE-OI PE-OI

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11

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11

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0

11

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0

11

80

0

11

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Ch

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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 11254.25 Premium of 19.70 Point compared to Nifty spot which closed at 11234.55

• Nifty OI wise Put-Call ratio stood at 0.93 and volume wise put-call ratio stood at 0.83

• India VIX has increased by 0.24 percent and closed at 17.1975

• The open interest in Nifty Futures increased from 16,02,150 to 17,60,214

Quarterly Results Today (Q1)

Bajaj Consumer Care Ltd ITI LTD.

Den Networks Ltd NOVA IRON & STEEL LTD.

HATHWAY BHAWANI CABLETEL & DATACOM LTD.

Integrated Capital Services Ltd

INFOMEDIA PRESS LTD.

INFOSYS 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

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

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