1.  US markets ended mixed on Friday.
2.  But Asian markets are positive.
3.  When everyone was expecting a sell off in large cap stocks, due to new SEBI regulation wrt Multi Cap Funds, SGX Nifty     is trading about 20 points higher.
4.  SGX Nifty is up by about 90 points from Friday night closing.
5.  FIIs continue to buy in Cash market.
6.  They have bought for more than Rs 1000 crores.
7.  DIIs continue to sell.
8.  They have sold for more than Rs 700 crores.
9.  Even in F&O, they have more longs than shorts.
10. Nifty 11500CE has the highest open interest, if markets move beyond 11500, then there will be some short covering.
11. India VIX keep inching lower.
12. That is a good news for bulls.
13. Bank Nifty is the real problem for markets now.
14. After falling nearly 3000 points from intra month high, it is struggling at lower levels.
15. But on Friday, there was some movement in SBI and it crossed 200.
16. But HDFC Bank, the top private sector bank, is still struggling.
17. If HDFC Bank and Bank Nifty starts recovering, then Nifty can resume its rally.
18. Nifty 11200 will be the floor for this series.
19. Every month, correction comes, Nifty falls 400 to 600 points, but recovers and scales new high.
20. If that is the trend, Nifty should close around 11800 by the end of this month.
21. Bank Nifty has huge resistance at 22700.
22. If that is crossed, Bank Nifty will see short covering and then Nifty can hope for 11800.
23. So Nifty 11520 and Bank Nifty 22700 levels are very important for short term trading.
24. Reliance is in consolidation mode as there is no incremental positive news.
25. But markets may come under selling pressure at higher levels due to Multi Cap rejig.
26. Nifty future may trade between 11420 and 11540.

INTRADAY CASH CALL:

AXIS BANK

BUY ABOVE   @   451.70   

SELL BELOW  @   446.10

TRGTs       @   3rs/5rs 
               
SL          @   3rs            
 
FROM TOMORROW SUPPORT & RESISTANCE OF NIFTY & BANKNIFTY WILL BE GIVEN



SGX Nifty

Trends on SGX Nifty indicate a positive opening for the index in India with a 35 point gain. The Nifty futures were trading at 11,489 on the Singaporean Exchange around 07:30 hours IST.

Sebi says mutual funds can merge multi-cap schemes, or re-position under different category

The Securities and Exchange Board of India (Sebi) on September 13 clarified that multi-cap schemes need not necessarily churn their portfolios by selling largecap stocks or buying smallcaps in multicap schemes to meet the new norms, but can also exercise options such as merging schemes with largecap funds, re-positioning them as large and midcap schemes or facilitating unitholders' switch to another scheme.

The market regulator said that fund houses can use these options among other things and also added that it will examine if any proposals are submitted by the industry to meet the desired objective of true-to-label and appropriate benchmarking

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 1,175.81 crore, whereas domestic institutional investors (DIIs) net offloaded shares worth Rs 724.31 crore in the Indian equity market on September 11, as per provisional data available on the NSE.

10 stocks under F&O ban on NSE

Adani Enterprises, Apollo Tyres, Bank of Baroda, BHEL, Canara Bank, Indiabulls Housing Finance, Vodafone Idea, Jindal Steel & Power, Punjab National Bank and Vedanta are under the F&O ban for September 14. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.




Dalal Street Week Ahead

Global Cues

Here are key global data points to watch out for next week:







Corporate Action

Here are key corporate actions taking place in the coming week:







Investor Call key Highlights:

1. Mutual fund industry has asked time from Sebi to give their representation on the circular. MF industry will either argue that circular is not in favour of unit holders or they may ask for extension of deadline.

2. MF industry will not buy small and mid cap stocks immediately and also not sell large caps because of circular announcement. They will wait for their representation to sebi. 

3. MF industry has all alternatives available if they believe the size of scheme is detriment. Alternatives are merge schemes (Multicap with LargeMid category), change scheme category from multicap to flexicap, create new category of funds so that there is no compromise to investors. 

4. Fund managers will not buy small and mid cap just because there is a circular. If the AMC believes there is less value in mid and small caps then the AMC would consider alternatives mentioned above. 

5. Kotak Standard multicap will continue to be managed with same size with minimal disruption (he has this confidence to say this if he believes that AMC will exercise any of the above said alternatives)

Best alternative according to Nilesh shah is “convert kotak Standard multicap to flexicap category”. Hence they will not have any impact from circular

Kotak Standard multicap cannot be converted into a focused fund because a focused fund cannot have more than 30 companies in underlying portfolio

To conclude ride the wave analyze good stocks opportunities and setups in mid cap small cap sector but don't go blindly picking up .

Stocks in news

BHEL: The company reported a loss of Rs 893.1 crore in Q1FY21 against a Rs 218.9 crore loss. Revenue fell to Rs 1,990.9 crore versus Rs 4,532.5 crore YoY.

Goa Carbon: The company resumed operations at Paradeep unit.

BGR Energy Systems: The company reported a loss of Rs 74.42 crore in Q1FY21 against a loss of Rs 12.49 crore. Revenue fell to Rs 127.47 crore versus Rs 631.98 crore YoY.

UPL: LIC raised the stake in the company to 7.07 percent from 5.06 percent earlier.

Heritage Foods: The board approved to sell 1,78,47,420 equity shares of Future Retail and 8,92,371 equity shares of Praxis Homer Retail Limited held by the company in one or more tranches.

Jindal Stainless (Hisar): The company reported a loss at Rs 93.89 crore against a profit of Rs 105.3 crore; revenue declined to Rs 852.4 crore versus Rs 2,372 crore YoY.

Ratnamani Metals & Tubes: The company received a domestic order of Rs 90 crore for the supply of coated CS pipes for oil and gas sector to be completed between December 2020 and April 2021.

Eros International: The company reported a loss of Rs 28.49 crore in Q1FY21 against a profit of 27.05 crore. Revenue dropped to Rs 41.68 crore from Rs 183.52 crore YoY.


Economic Times

 Business Standard

Ø  SoftBank said to near a deal to sell British chip designer arm

Ø  Steel demand surges on the back of rise in automotive sales

Ø  CBDT deploys two-third of its workforce for faceless assessment scheme

Ø  ArcelorMittal, Dastur set to research on solution for carbon capture

Ø  Auto component industry seeks long term roadmap for regulatory changes

Ø  Tata Motors plan to achieve net debt zero target by FY24

 Ø  Sebi issues clarification on asset allocation framework for multi-cap MFs

Ø  BEL upbeat on defence biz prospect, seeks to ride govt's self-reliance push

Ø  Retail inflation to come down with easing of lockdowns: CEA Subramanian

Ø  Discoms' outstanding dues to power gencos rise 36% to Rs 1.29 trn in July

Ø  India to be self-reliant in fertilisers production by 2023: Gowda

Business Line

 Mint

Ø  Listed power cos have ₹11,252 cr of bills pending for over 2 years

Ø  Marico plans to inject a booster dose to foods biz

Ø  CBIC suspends licence of 56 Customs brokers

Ø  Clinical trial resumes on AstraZeneca-Oxford University Covid-19 vaccine

Ø  MFs to seek time to comply; plan alternatives to ‘protect’ investors 

 Ø  ByteDance tells US it won’t sell TikTok’s algorithm: Report

Ø  Mutual funds withdraw ₹17,600 crore from stocks in July-August

Ø  Covid treatment accounted for 11% of health insurance claims in Apr-Aug: Study

Ø  FPIs turn net sellers in September, pull out ₹2,038 cr so far

Ø  Carlyle may pick up $2 billion stake in RIL’s retail arm

Financial Express

 Deccan Chronicle

Ø  India’s coal import drops 35% in Aug on lower demand from power, cement players

Ø  SBI Card to enrol ‘delinquent’ customers in restructuring plans: MD

 Ø  13 lakh new retail investors added in stock market in past one month


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