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DAILY NEWS LETTER

Date: 24.10.2019

Nifty Short Term Trend

The Nifty50 gained strength in late trade and closed moderately

higher on October 23. Overall the market was largely positive

for major part of the session led by selective buying in banks, IT

and FMCG stocks. The index closed tad above 11,600 amid

consolidation and formed Doji pattern on daily charts as it

closed near its opening value. The pattern indicates

indecisiveness among the bulls and the bears, hence experts

feel there could be more consolidation in coming days before

directional move on either side. Bulls appears to have hit a

pause button as they failed to decisively get past its near term

critical hurdle present around 11,700 levels. As some of the

momentum oscillators on lower time frame charts slipped into

sell mode, Nifty can be expected to remain sideways but

weakness will be confirmed on a close below 11,550 levels

which shall accentuate the selling pressure with initial targets

placed around 11,400 levels. For the Nifty has to sustain above

11,600 to gain more strength till 11,650-11,725 while on the

downside immediate supports can be seen at 11,550-11,500.

Bank Nifty failed to surpass previous day's high and formed a

Doji for second consecutive session which indicates a tug of war

to make or break 29,200 zones. The index closed 0.16 percent

higher at 29,459.60. It has negated the formation higher highs -

higher lows after five trading sessions but at the same time

declines are being bought. Now Bank Nifty has to continue to

hold above 29,200 levels to witness momentum towards

29,750-30,000 while on the downside supports are seen at

29,000-28,750 levels.

Levels to watch

R1 R2 S1 S2 Outlook for the Day Short term Outlook

NIFTY 11650 11725 11550 11500 Sideways Positive

BANK NIFTY 29750 30000 29000 28750 Sideways Positive

USD/INR 70.95 71.20 70.57 70.38 Positive Positive

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Financial & Economic Wrap Up

Lenders will be sending findings of KPMG's forensic

audit report to debt-ridden DHFL to seek its

reply, CNBC-TV18 reports. DHFL is expected to disclose

the essence of the banker's note to the exchanges,

sources told CNBC-TV18. KPMG's forensic report on

DHFL is still in the draft stage. When presented to

bankers, the report was still unsigned. KPMG is

expected to present the final signed version of the

forensic report shortly.

Jindal Stainless on October 23 said it has inked

partnership with public sector unit Braithwaite & Co

Limited (BCL) to develop stainless steel foot-over and

road-over bridges. Under the agreement, Jindal

Stainless aims to supply 2 lakh tonnes of stainless steel

to the railways.

The Union Cabinet on October 23 announced that

telecom PSUs Bharat Sanchar Nigam Limited (BSNL)

and Mahanagar Telephone Nigam Limited (MTNL) will

be merged. However, the merger will not take place

immediately since MTNL is a listed company and the

process would require some time.

Dr Reddy's Laboratories on Wednesday said it has

initiated a voluntary nationwide recall of all its

ranitidine medications sold in the US due to

contamination with probable cancer causing N-

Nitrosodimethylamine (NDMA). The recall started on

October 1 after the United States Food and Drug

Administration (USFDA) found the presence of NDMA

in certain ranitidine products above the permissable

levels.

Strides Pharma Science on Wednesday said the

inspection by the US health regulator of its

formulations facility in Alathur in Kerala has been

completed without any adverse observations. In a

regulatory filing, the company said the company's

formulations unit in Alathur was inspected by the US

Food and Drug Administration (USFDA) in August

2019. It has received the establishment inspection

report (EIR), thereby confirming the successful closure

of the inspections.

Engineering and construction major Larsen & Tubro on

Wednesday said its arm LTHE has won a mega project

from Hindustan Petroleum Corporation. As per the

company's scheme classification, the mega project

bagged by L&T Hydrocarbon Engineering Ltd (LTHE) is

worth over Rs 7,000 crore.

Indices Performance

Index LTP Previous Close % Change

S&P BSE Sensex 39058.83 38963.84 0.24%

Nifty 50 11604.10 11588.35 0.14%

Nifty Midcap 50 4460.45 4457.55 0.07%

Nifty 500 9458.65 9448.25 0.11%

Bank Nifty 29459.60 29411.15 0.16%

Institutional Flows (Cash Segment)

Description (Rs in Cr) BUY SELL NET

FII Activity 5182.47 5395.70 -213.23

DII Activity 3961.03 4098.41 -137.38

FIIs Derivative Statistics

BUY SELL

No. of Contracts

Amount (INR. Cr.)

No. of Contracts

Amount (INR. Cr.)

Index Futures 49835 3625.74 54670 3972.12

Index Options 3789629 257649.89 3781647 257076.80

Stock Futures 246950 14034.97 241370 13778.07

Stock Options 133405 8163.43 133207 8228.41 Top OI Gainers

Scrip LTP % Change

in Price OI % Change

in OI

BAJAJ-AUTO 3174.65 1.53 15710 33.58

HAVELLS 674.2 -0.77 8783 33.40

NIITTECH 1466.25 1.25 1560 27.76

JUBLFOOD 1542.35 7.92 11787 23.96

RBLBANK 260.15 -8.97 27690 18.00 Top OI Losers

Scrip LTP % Change

in Price OI % Change

in OI

MUTHOOTFIN 685.7 -0.35 2042 -2.39

SRTRANSFIN 1079 -3.58 7477 -2.02

BAJFINANCE 4049.25 -0.02 47257 -1.92

TATAPOWER 61.3 3.11 7239 -1.91

KOTAKBANK 1615.8 -1.16 29616 -0.95 Volume Spurt: Cash Segment

Scrip LTP Quantity

Change (%) Price Change

(%)

Reliance Power Limited 3.3 37.01 20

IRB Infrastructure Devel 81.05 12.72 13.52

Indian Bank 142.9 16.15 13.14

RBL BANK LIMITED 259.15 15.22 -9.69

Dish TV India Limited 13 15.19 -10.65 **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

HINDUNILVR 1.74 BEARISH INDIGO 1.56 BEARISH

DLF 1.62 BEARISH CHOLAFIN 1.33 BEARISH

TORNTPHARM 1.52 BEARISH RBLBANK 1.29 BEARISH

BERGEPAINT 1.47 BEARISH MARUTI 1.11 BEARISH

SIEMENS 1.42 BEARISH ZEEL 1.10 BEARISH

w

0

1,000,000

2,000,000

3,000,000

11100 11300 11500 11700 11900Op

en

Inte

rest

Strike Price

Open Interest-Call/Put

CE-OI PE-OI

-500000

0

500000

1000000

Ch

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 11624.70 Premium of 20.6 Point compared to Nifty spot which closed at 11604.10

• Nifty OI wise Put-Call ratio stood at 1.09 and volume wise put-call ratio stood at 1.10

• India VIX has decreased by 1.81 percent and closed at 16.5050

• The open interest in Nifty Futures increased from 16,24,808 to 16,89,588

Quarterly Results Today (Q2)

ALEMBIC PHARMACEUTICALS ICRA LTD. Parag Milk Foods Ltd

APTECH LTD. IDFC First Bank Ltd PNB Housing Finance Ltd

ASTRAL POLY TECHNIK LTD. Indian Energy Exchange Ltd RAYMOND LTD.

Balkrishna Paper Mills Ltd InterGlobe Aviation Ltd Reliance Nippon Life Asset Mgt

Bandhan Bank Ltd ITC LTD. Security and Intelligence Services

COLGATE-PALMOLIVE (INDIA) LTD. JUBILANT INDUSTRIES LTD. SHRIRAM TRANSPORT FINANCE CO.

CUMMINS INDIA LTD. K.P.R. Mill Limited SOUTH INDIA PAPER MILLS LTD.

Dalmia Bharat Sugar and Industries MARUTI SUZUKI INDIA LTD. STERLITE TECHNOLOGIES LTD.

DCM Shriram Limited MOTILAL OSWAL FINANCIAL SERVICES UNITED SPIRITS LTD.

DEEPAK NITRITE LTD. NIIT LTD. Vascon Engineers Ltd

Corporate Action

Company Ex-Date Purpose Record Date

D B Corp Ltd 29-Oct-19 Interim Dividend - Rs. - 6.5000 30-Oct-19

IRB InvIT Fund 29-Oct-19 Income Distribution (InvIT) 30-Oct-19

SIYARAM SILK MILLS LTD 29-Oct-19 Interim Dividend - Rs. - 2.2000 30-Oct-19

SIYARAM SILK MILLS LTD 29-Oct-19 Special Dividend - Rs. - 4.0000 30-Oct-19

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