NIFTY:
Nifty opened at 17183.20 with a gap up of 17 points, the index recorded its intraday low at 17149.30 and then started moving on the upside, prices have seen a sharp intraday rally of more than 250 points from its intraday low to records its intraday high at 17420.35 minor dip in between were quickly bought into , the index kept on moving throughout the days and finally closed at 17401.65 near its intraday high wit gain of 234.75 points or 1.37% up. IT led the bulls today and ended with a gain of more than 2%. METAL and MEDIA also did well today and ended with a gain of more than 1.50%.
The benchmark index of volatility INDIA VIX’ is now trading around the 18 levels. This suggests that the volatility has started cooling off. The short-term trend is changing to sideways which was down before, Both the momentums have now started contradicting each other suggests confusion amongst the traders. Volatility has started Colling off. We should look for a trading opportunity according to the market momentum.
BANK NIFTY:
Bank Nifty opened at 36281.85 with a gap down of 103 points. The index first moved down and recorded its intraday low at 36166.70 and then rallied. The rally fizzled out in the afternoon and prices have moved down. The index rallied again in the second half, recorded its intraday high at 36563.50 and finally closed at 36535.65 with a gain of 151 points. PVT and PSU BANKS both have performed same today, saw a minor intraday rally and closed with a gain of 0.41% and 0.48%. Within the index, in term of points, HDFC BANK contributed the highest while ICICI BANK contributed the lowest.
The short-term trend is now changing to sideways which was down before. We have also mentioned a possible trading range within 35300 – 36800 zones. For tomorrow we should look for a buying opportunity on a breakout above 36800. But if index saw a U turn from here and started drifting downwards then we should look for a shorting opportunity below 35800.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| CDSL | 1542 | BUY | The stock is on the verge of giving the breakout on the intraday as well as the daily chart. The stock can be bought with a stop loss of 1500 and for the target of 1650. |
| INDHOTEL | 184 | BUY | The immediate trend of the script is bullish. There is a positive cross over of moving averages as well as of the indicators therefore it can be buy above 186 with a stop loss of 183 and target of 193. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| INFY | 1760CE | BUY | 31 | CMP | 15 | 60 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| GSPL.Dec 30 | 306.4 | 0.05 | 7.59 | 1181500 | JKCEMENT.Dec 30 | 3353.95 | 2.65 | -0.23 | 150850 | |
| ULTRACEMCO.Dec 30 | 7344.95 | 0.08 | 4.2 | 1854700 | GODREJPROP.Dec 30 | 2028.8 | 2.64 | -0.78 | 3352375 | |
| RBLBANK.Dec 30 | 192.95 | 0.1 | 2.16 | 30644300 | IGL.Dec 30 | 498.8 | 2.47 | -0.85 | 10685125 | |
| TATACONSUM.Dec 30 | 777.5 | 0.11 | 5.11 | 9624150 | COALINDIA.Dec 30 | 159.65 | 2.21 | -3.04 | 52764600 | |
| NAM-INDIA.Dec 30 | 374.5 | 0.21 | 9.14 | 2809600 | ICICIGI.Dec 30 | 1474 | 1.98 | -0.77 | 2731475 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | price | Price% | OI% | OI | Stocks | Price | Price% | OI% | OI | |
| ABFRL.Dec 30 | 262 | 0.17 | -0.94 | 10649600 | APLLTD.Dec 30 | 806.25 | -1.41 | -3.19 | 1800150 | |
| BANKNIFTY.Dec 30 | 36657.9 | 0.52 | -2.74 | 2406275 | CHAMBLFERT.Dec 30 | 396 | -0.66 | -1.23 | 2172000 | |
| SRTRANSFIN.Dec 30 | 1458.55 | 0.57 | -0.35 | 3077200 | ||||||
| KOTAKBANK.Dec 30 | 1973.05 | 0.57 | -0.62 | 12599200 | ||||||
| TATAMOTORS.Dec 30 | 480 | 0.58 | -0.09 | 87195750 | ||||||
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Petronet Lng Limited | 224.3 | 1.63 | 1699664 | 0 | 70.43 | Nifty 50 | 17401.65 | 1.37 | 87615 | |
| Power Grid Corporation o | 214.5 | 3.52 | 25319133 | 0 | 67.3 | Nifty Bank | 36508.25 | 0.39 | 87615 | |
| Infosys Limited | 1748.25 | 1.94 | 5559574 | 0 | 67.26 | Nifty it | 36157.85 | 2.06 | 87615 | |
| Dabur India Ltd. | 578.55 | 0.43 | 1931467 | 0 | 66.82 | India Vix | 18.09 | -7.01 | 87615 | |
| Hdfc Asset Management Co | 2556.7 | 0.22 | 250100 | 0 | 64.65 | Nifty Energy | 23491.6 | 1.65 | 87615 | |
| Nestleind | 19503.2 | 0.54 | 48600 | 0 | 64.15 | Nifty Fmcg | 37892.6 | 1.16 | 87612 | |
| Page Industries Limited | 38253.55 | 0.97 | 37304 | 0 | 64.03 | Nifty Pharma | 13557 | 0.85 | 87612 | |
| Sbi Cards And Payment Se | 980.9 | 2.19 | 1636771 | 0 | 63.95 | Nifty Infrastructure | 5048.7 | 1.12 | 87615 | |
| Hdfc Ltd. | 2807.8 | 3.85 | 4570690 | 0 | 63.79 | Nifty Psu Bank | 2640.8 | 0.48 | 87612 | |
| Hindustan Unilever Ltd | 2383.3 | 1.64 | 1673117 | 0 | 63.58 | Nifty Auto | 10873.15 | 1.07 | 87612 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Trade Balance (Nov) on 3rd December, 2021
INR: Nikkei Services PMI (Nov) on 3rd December, 2021 |
•USD: Unemployment Rate (Nov) on 3rd December, 2021
•USD: Nonfarm Payrolls (Nov) on 3rd December, 2021 |
NEWS UPDATES
-
Anand Rathi Wealth Ltd, part of Mumbai-based financial services group Anand Rathi, has launched its initial public offering (IPO) today for public subscription and the three day share sale will conclude on December 6. The price band has been fixed at ₹530-550 per share. The company on Wednesday said it has raised ₹194 crore from anchor investors ahead of its IPO.
-
ABB India on Thursday said it has completed the sale of its mechanical power transmission division to Dodge Industrial India Pvt Ltd for a consideration of ₹44.58 crore.
-
Tata Power has collaborated with am Stays & Trails, India’s first branded homestay portfolio by Indian Hotels Company Ltd, to set up EV charging stations at over 30 of its villas and heritage bungalows across 11 destinations. A rising demand for sustainable transport infrastructure has resulted in an increasing number of hospitality brands investing in electric vehicle (EV) charging points, a statement said.
-
Japanese auto major Honda Motor Co on Thursday said it has set up a battery sharing service subsidiary in India with a capital of Rs 135 crore. The new subsidiary, Honda Power Pack Energy India Pvt Ltd, will offer battery sharing service for small mobility, which will accelerate the penetration of electric vehicles (EV), and will also provide technical support to vehicle OEMs, the company said in a statement.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| FEDDERELEC | Preferential Issue of shares | 03-Dec-21 | YASHRAJC | General | 03-Dec-21 |
| GVKPIL | Quarterly Results | 03-Dec-21 | ZSOUTGAS | General | 03-Dec-21 |
| ISTRNETWK | General | 03-Dec-21 | CHEVIOT | Buy Back of Shares | 04-Dec-21 |
| JJEXPO | A.G.M.;Audited Results | 03-Dec-21 | GSS | General | 04-Dec-21 |
| JPTRLES | General | 03-Dec-21 | PQIF | General | 04-Dec-21 |
| MRPL | General | 03-Dec-21 | SAYAJIHOTL | Scheme of Arrangement | 04-Dec-21 |
| NMDC | Interim Dividend | 03-Dec-21 | SETCO | A.G.M.;Quarterly Results | 04-Dec-21 |
| SDC | Half Yearly Results | 03-Dec-21 | TIRUFIN | Employees Stock Option Plan;General | 04-Dec-21 |
| SHARP | Quarterly Results | 03-Dec-21 | EQUIPPP | A.G.M. | 05-Dec-21 |
| STDSFAC | General | 03-Dec-21 | ANERI | General | 06-Dec-21 |
| TARMAT | Preferential Issue of shares | 03-Dec-21 | BRFL | Quarterly Results | 06-Dec-21 |
| VICEROY | A.G.M.;General | 03-Dec-21 | DEEP | Issue Of Warrants;Pref. Issue of shares | 06-Dec-21 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| IEX | 03-Dec-21 | Bonus issue 2:1 | OAL | 09-Dec-21 | Interim Dividend – Rs. – 1.5000 |
| COALINDIA | 06-Dec-21 | Interim Dividend – Rs. – 9.0000 | RIDHISYN | 09-Dec-21 | Right Issue of Equity Shares |
| PANCHSHEEL | 06-Dec-21 | Bonus issue 1:1 | SHIVAMAUTO | 09-Dec-21 | Right Issue of Equity Shares |
| CHLOGIST | 07-Dec-21 | E.G.M. | TTL | 09-Dec-21 | Interim Dividend – Rs. – 1.0000 |
| GPL | 08-Dec-21 | Amalgamation | WEIZMANIND | 09-Dec-21 | Buy Back of Shares |
| BNKCAP | 09-Dec-21 | Dividend – Rs. – 2.5000 | SEACOAST | 10-Dec-21 | E.G.M. |
| DUGARHOU | 09-Dec-21 | E.G.M. | NIHARINF | 13-Dec-21 | E.G.M. |
Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014
Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, suhail@elitewealth.in
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing research@elitestock.com with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail research@elitestock.com.
Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
2. Compensation
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL