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DAILY NEWS LETTER

Date: 25.10.2019

Nifty Short Term Trend

It was another day of consolidation for the Nifty which closed

marginally lower on October 24 as banks got caught in the bear

trap after the Supreme Court rejected the telecom companies'

definition of Adjusted Gross Revenue. The ruling BJP’s-less-

than impressive showing in Maharashtra and Haryana assembly

elections also dented sentiment. The Nifty50 continued its

consolidation process as it swiftly recovered, after briefly

trading below its short-term critical support of 11,550, with an

intraday low of 11,534 levels before signing off the session with

a bearish candle. For the last three trading sessions, it looked

that the Nifty is stuck in the 11,700-11,550 range. "However,

slowly weakness appears to be creeping in as this index closed

below its 5-day simple moving average (11,604). Hence, in next

trading session, if bears manages to push the index below

11,550 levels on closing basis then selling pressure may get

accelerated further". For the day if Nifty manages to hold below

11,550 then we might see lower levels near 11,500-11,440

while on the higher side immediate resistance can be expected

near 11,625-11675.

The Bank Nifty failed to hold its gains and drifted sharply

towards 29,000, as selling pressure was seen in the latter part

of the trading session. The index closed 1.19 percent lower at

29,107.95 and formed a bearish candle on the daily scale,

relatively underperforming the benchmark index. Bank Nifty

has to hold above 29,200 levels to witness a bounce towards

29,500 then 29,700 while a hold below the same could drift it

towards 28,800 then 28,500 levels.

Levels to watch

R1 R2 S1 S2 Outlook for the Day Short term Outlook

NIFTY 11625 11675 11500 11440 Sideways Positive

BANK NIFTY 29500 29700 28800 28500 Sideways Positive

USD/INR 71.25 71.48 70.78 70.65 Positive Positive

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Financial & Economic Wrap Up

The Supreme Court has upheld the definition of

Adjusted Gross Revenue (AGR) calculation as

stipulated by the Department of Telecommunications.

Terming the issues raised by telcos with respect to

AGR as ‘frivolous’, the SC has further held that not

only the original charges, but principal interest and

penalties on delayed payments would also be payable.

The Apex Court has said that all revenues accruing to

telecom operators would constitute AGR.

The mutual fund industry has added 3.45 lakh investor

accounts in September, taking the total tally to 8.56

crore, amid volatile market conditions. In comparison,

the industry had added 4.8 lakh new folios in August

and more than 10 lakh folios in July. According to data

from Association of Mutual Funds in India, the number

of folios with 44 fund houses rose to 8,56,26,244 at

the end of September, from 8,52,81,222 at the end of

August, registering a gain of 3.45 lakh folios.

State-owned CIL on October 24 said it will switch over

to mechanised transportation of coal through piped

conveyor belts in its large mines by 2023-24, replacing

the existing road movement of the dry fuel. Piped

conveyor belt transportation is a covered system for

movement of coal and thus promotes environment

safety and prevents possible coal pilferage.

Fair trade regulator CCI on October 24 said it has

approved acquisition of over 4 per cent shareholding

in Aditya Birla Capital Ltd (ABCL) by Jomei

Investments. Jomei Investments is a special purpose

vehicle owned by Advent International Corporation

while ABCL is the holding company of the financial

services businesses of the Aditya Birla Group. "The

proposed transaction entails Jomei Investments'

subscription of equity shares in ABCL amounting to

approximately 4.15 per cent of the total issued and

paid up share capital of ABCL on a fully diluted basis,"

a combination notice filed with the regulator said.

The country's sugar production is expected to decline

by 12.38 percent to 28-29 million tonnes in the 2019-

20 marketing season starting this month, due to sharp

fall in the output in Maharashtra, a senior Food

Ministry official said on October 24. Sugar output

stood at 33.1 million tonnes during the 2018-19

marketing year (October-September).

Indices Performance

Index LTP Previous Close % Change

S&P BSE Sensex 39020.39 39058.83 -0.10%

Nifty 50 11582.60 11604.10 -0.19%

Nifty Midcap 50 4445.75 4460.45 -0.33%

Nifty 500 9437.65 9458.65 -0.22%

Bank Nifty 29107.95 29459.60 -1.19%

Institutional Flows (Cash Segment)

Description (Rs in Cr) BUY SELL NET

FII Activity 5885.49 5958.36 -72.87

DII Activity 3837.33 4576.08 -738.75

FIIs Derivative Statistics

BUY SELL

No. of Contracts

Amount (INR. Cr.)

No. of Contracts

Amount (INR. Cr.)

Index Futures 66077 4604.77 71078 4931.73

Index Options 7872967 516391.27 7860469 515580.99

Stock Futures 280402 16260.08 289630 16629.48

Stock Options 155400 9672.15 154243 9619 Top OI Gainers

Scrip OI: No of Contracts LTP OI: Value

% Change in OI

INFRATEL 5106 236.65 10212000 55.2

TORNTPHARM 878 1771.85 439000 16.76

SBIN 37711 263.2 113133000 13.98

IDEA 18456 4.3 516768000 8.34

MUTHOOTFIN 1507 672.25 2260500 6.2 Top OI Losers

Scrip OI: No of Contracts LTP OI: Value

% Change in OI

ADANIENT 6232 179.6 24928000 -19.4

CASTROLIND 1661 144.65 5647400 -17.93

SUNPHARMA 43706 406.3 48076600 -17.35

NIITTECH 920 1466.15 690000 -15.05

ADANIPOWER 3623 63.4 72460000 -13.43 Volume Spurt: Cash Segment

Scrip LTP Quantity

Change (%) Price Change

(%)

THYROCARE 570.25 31.29 10.62

NAVIN FLUORINE INT. 825.55 37.11 8.63

ICICI SECURITIES LTD 335.15 28.58 8.46

Dish TV India Limited 11.1 15.21 -14.62

VODAFONE IDEA LTD 4.35 37.16 -23.01 **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 1.56 BEARISH PAGEIND 1.50 BEARISH

BERGEPAINT 1.54 BEARISH CUMMINSIND 1.44 BEARISH

DLF 1.47 BEARISH MARUTI 1.38 BEARISH

MARUTI 1.31 BEARISH HINDUNILVR 1.29 BEARISH

EICHERMOT 1.24 BEARISH RBLBANK 1.26 BEARISH

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Nifty OI – Call Put Analysis

F&O Wrap-up

• Nifty October series future closed at 11611.15 Premium of 28.55 Point compared to Nifty spot which closed at 11582.60

• Nifty OI wise Put-Call ratio stood at 1.03 and volume wise put-call ratio stood at 0.91

• India VIX has decreased by 2.72 percent and closed at 16.0850

• The open interest in Nifty Futures increased from 16,67,025 to 18,32,244

Quarterly Results Today (Q2)

ARVIND LTD. Krishna Capital and Securities Ltd SHRIRAM CITY UNION FINANCE LTD.

ATUL LTD. Mahindra EPC Irrigation Ltd Sri Krishna Constructions (India) Ltd

HDFC Asset Management Company MARICO LTD. Strides Pharma Science Ltd

HEIDELBERGCEMENT INDIA LTD. MM RUBBER COMPANY LTD. SUPREME INDUSTRIES LTD.

HIKAL LTD. NRB BEARINGS LTD. TATA COFFEE LTD.

HONEYWELL AUTOMATION INDIA RATNAMANI METALS & TUBES LTD TATA MOTORS LTD.

Infibeam Avenues Ltd RELIANCE CAPITAL LTD. Tata Motors Ltd - DVR

ION EXCHANGE (INDIA) LTD. STATE BANK OF INDIA TIMKEN INDIA LTD.

JUBILANT LIFE SCIENCES LIMITED S H Kelkar and Company Ltd V2 RETAIL LTD.

Kirloskar Industries Ltd Shree Ganesh Biotech (India) Ltd ZUARI AGRO CHEMICALS LTD.

Corporate Action

Company Ex-Date Purpose Record Date ASIAN PAINTS LTD. 30-Oct-19 Interim Dividend - Rs. - 3.3500 31-Oct-19

Cyient Limited 30-Oct-19 Interim Dividend - Rs. - 6.0000 31-Oct-19

India Grid Trust 30-Oct-19 Income Distribution (InvIT) 31-Oct-19

L&T Technology Services Ltd 30-Oct-19 Interim Dividend - Rs. - 7.5000 31-Oct-19

SHREE PRECOATED STEELS LTD. 30-Oct-19 Reduction of Capital 31-Oct-19

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