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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

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Open Interest-Call/Put

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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 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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