Market Wizard

🌟Good Morning 🐯🌟

☀️ *Share K Saudagars' Exclusive Morning Market News & Update*☀️

💫Coal India: The company has temporarily stopped supplies to industrial users as the energy crisis in India escalates. The move to prioritize supplies to power plants is aimed at helping boost depleted inventories that are putting continued operations at risk. But it could worsen the situation for other industries such as aluminium smelters, cement producers and steel mills.

💫Lupin: Lupin Pharmaceuticals Inc. has voluntarily recalled lrbesartan tablets and lrbesartan and Hydrochlorothiazide tablets in the U.S. due to the presence of an impurity called N-nitrosolrbesartan. Some tested API batches were above the specification limit for the impurity, the company said. Lupin discontinued the marketing of these tablets in January 2021.

💫Dr. Reddy’s Laboratories: Exelixis Inc has in-licensed second anti-cancer compound from Aurigene Discovery following U.S. FDA acceptance of lnvestigational New Drug application for phase 1 clinical trial in Non-Hodgkin's Lymphoma. Further the company has launched Carmustine for Injection, USP, a therapeutic equivalent generic version of BiCNU® approved by the FDA.

💫Dixon Technologies (India): Dixon Electro Appliances, a subsidiary of the company, has received approval from the government under PLI scheme for manufacturing of telecom and networking products in India. “With this, Dixon will be venturing into a new segment of telecom devices and we expect to begin production mainly for routers, modems and GPONs,” Vice Chairman and MD, Atul Lall said.

💫NBCC India: The company secured the total business of Rs 2,100.96 crore in September.

💫PNB Housing Finance: The board has decided not to proceed with a preferential issue of shares to investors led by Carlyle after the plan was delayed due to pending legal proceedings. The share subscription agreements executed with the proposed allottees have been terminated. Carlyle’s Pluto Investments S.a.r.l will be initiating the process to withdraw the open offer for PNB Housing shares made at Rs 403.22 each. India top court to hear plea on PNB Housing-Carlyle deal.

💫Axis Bank: The RBI has approved the reappointment of Amitabh Chaudhry as MD and CEO of the bank from January 1, 2022, till December 31, 2024.

💫lnduslnd Bank: Board to meet on October 21 to consider proposal for raising of funds in Indian or foreign currency through the issuance of unsecured, non-convertible, redeemable, Basel III-Compliant Regulatory Tier II Bonds.

💫Shilpa Medicare: To raise up to Rs 297.51 crore via share allotment. The company approved the preferential allotment of 52.75 lakh shares to various marquee investors at a price of Rs 564 per share.

💫BASF India: The Karnataka Appellate Tribunal has granted stay on recovery of tax demand aggregating to Rs 40.65 crore pertaining to the tax period 2016-2017. The company had received demand notices from the Commercial Tax Department, Karnataka aggregating to Rs 744.67 crore for the tax periods 2006-2007 to 2016-2017.

💫Macrotech Developers: Board to meet on October 21 to consider proposal to raise funds. Further the company is in talks to sell 4 lakh sq ft office building in Mumbai, according to PTI.

💫Vivimed Labs: Ramesh Krishnamurthy has resigned as the CEO and CFO of the company effective from October 15.

💫Equitas Small Finance Bank: Board to consider options for minimum public holding.

💫Earnings: Ultratech Cement, L&T Infotech, Hatsun Agro Product, Route Mobile, Craftsman Automation, Alok Industries, Tata Coffee

Pledge Share Details

💥Ajanta Pharma: Promoter Aayush Agrawal revoked pledge of 1.50 lakh shares on October 12.

💥Future Consumer: Promoter Future Capital Investment invoked pledge of 10 lakh shares on October 11.

💥Max Financial Services: Promoter Max Ventures Investment Holdings created a pledge of 1.42 lakh shares on October 13.

Trading Tweaks

⭐Ex-Date EGM: Omaxe

⭐Ex-Date AGM: AGC Networks

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Market Wizard

⭐Price Band Revised From 5% To 10%: Adani Power, Deepak Fertilizers and Petrochemicals Corporation, Gateway Distriparks, Jaiprakash Associates

⭐Price Band Revised 5% To 20%: eClerx Services, Paras Defence and Space Technologies, Sarda Energy & Minerals

⭐Move Into Short-Term ASM Framework: Tata Motors, Jaiprakash Power Ventures, Sona BLW Precision Forgings, Tata Teleservices (Maharashtra), PTC India, Genesys International Corporation

⭐Move Out Of Short-Term ASM Framework: Bodal Chemicals, Triveni Turbine

⭐Move Into ASM Framework: Sarda Energy & Minerals, Deepak Fertilizers and Petrochemicals Corporation, Gateway Distriparks, eClerx Services, Adani Power, Jaiprakash Associates

⭐Move Out Of ASM Framework: CG Power and Industrial Solutions, Reliance Infrastructure, Dynamatic Technologies, Easy Trip Planners, Seamec, IIFL Securities

Money Market Update

🍁The rupee ended at 75.25 against the U.S. Dollar on Thursday as compared to Wednesday's closing of 75.37.

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Market Wizard

Mumbai records zero death for first time since beginning of COVID-19 pandemic in March 2020

https://www.moneycontrol.com/news/india/mumbai-records-zero-death-for-first-time-since-beginning-of-covid-19-pandemic-in-march-2020-7591301.html

Moneycontrol

Mumbai Records Zero Death For First Time Since Beginning Of COVID-19 Pandemic In March 2020

As many as 518 COVID-19 patients recovered and were discharged, taking the recovery count to 7,27,084. Now, there are 5030 active cases in the city. Mumbai's overall recovery rate has increased to 97 percent.

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Market Wizard

📍 *Pre-Market Derivatives and Technical Set-up* 🌎✅

📊◆

Nifty index opened gap up and bulls massively cheered the index to touch its new life time high marks of 18350 levels yet again. Buying interest was seen throughout the day and it closed with gains of around 180 points. It formed a Bullish candle on daily scale and has been forming higher lows from the last three session. On weekly frame it gave a range breakout and has been forming higher lows from the last eleven weeks in a row

📊◆ Now it has to hold above 18250 zones to extend its move towards 18500 levels whereas on the downside support is seen at 18050 and 17947 zones

📊◆ India VIX fell down by 2.07% from 16.10 to 15.76 levels. Overall comparative lower VIX suggests that bulls are holding the tight grip in the market. Now VIX needs to cool down below 15-14 zones to continue the smooth ride

📊◆ On Option front, Maximum Put OI is at 18000 followed by 17500 strike while maximum Call OI is at 18500 followed by 19000 strike. Minor call writing is seen 18800 then 18600 strike while meaningful Put writing is seen at 18000 than 18300 strike. Option data suggests an immediate trading range in between 18000 to 18500 zones

📊◆ Bank Nifty opened flattish and while it remained consolidative for first half of the day. It shot up in second half and gave a price breakout on daily frame. Bulls pulled the banking index to its all-time high levels of 39375 levels and closed with huge gains of around 700 points. It formed a strong Bullish candle on daily scale and has been forming higher lows from the last nine sessions in a row. It formed a Bullish candle on weekly frame and came out of its consolidation on weekly frame and has been forming higher lows from seven weeks in a row

📊◆ Now it has to hold above 39000 zones to witness an up move towards 39800 and 40000 levels while on the downside major support is seen at 38800 and 38500 levels

📊◆ Bullish setup in IRCTC, Adaniports, Wipro, Adanient, Grasim, Havells, PFC, Havells, Can Bank, Hdfc Bank, Naukri, Nationalum, ITC, Powergrid, Divislabs, L&TFH, Indusind Bank, Bata India, ICICI Bank, ACC and LT     

📊◆ Bearish setup in Coal India, Metropolis, Lalpath Labs, Lupin, Concor, IGL, Biocon and Petronet