NIFTY:
Nifty opened at 17890.55 without much of a gap, Initially, prices went up for the first 10 minutes of trading and recorded its intraday high at 17945.60, the index could not sustain there long and started drifting downwards, prices have seen a sharp decline of more than 150 points from its intraday high to record its intraday low at 17688.50, prices spent the afternoon session moving sideways and then a relief rally started in the second half, the rally stopped quickly and prices went down again in the last 30 minutes of trading and finally closed at 17764.80 with a loss of 133.85 or 0.75% down. All the sectoral indices have seen a decline today and ended with a loss. The Auto, Metal and media sector have led the bears today and ended with a loss of more than 2%, banks ended on a flat note.
Prices have been moving down for the last few trading days This decline should stop at some point and then prices will find support there, if the index close below 17600 then a pattern of bearish head & shoulder will confirm and then will give us a much lower target, prices don’t need to reach there but that will change the overall bias bearish. So the summary is to wait for price to hold 17600 support or wait for a relief rally. .
BANK NIFTY:
Bank Nifty opened at 38071.90 with a gap up of 65 points, the index Rallied further, recorded its intraday high at 38233.95 and then saw a sharp decline, prices then consolidated recorded its intraday low at 37748.45 and then rallied again, the rally fizzled out before reaching the morning high, saw a minor correction in the last 30 minutes of trading and finally closed at 37941.95 with a loss of 65 points.PSU Banks have seen an outperformance today and closed with marginal gain.
Lower closing streak continued for the fourth trading day, the short term trend is still on the downside. Bank Nifty continued trading volatile and closed with marginal loss prices have moved very randomly today saw plenty of up and down . We have mentioned a support around 38000 and prices are now trading around this level from last two trading day . In fact a zone inside 37500-38000 is a strong support zone in the index we should wait for prices to find support.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE |
| GODREJPROP | 2177 | SELL | The stock is on the verge of giving the breakdown on the intraday as well as the daily chart. The stock can be sell below 2170 with a stop loss of 2190 and for the target of 2100. |
| JSW STEEL | 651 | SELL | The immediate trend of the script is bearish. There is a negative cross over of moving averages as well as of the indicators therefore it can be sell below with a stop loss of 660 and target of 625. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| FEDERALBANK | 105 CE | BUY | 4 | CMP | 2.8 | 7 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| PNB | 207.25 | 11.28 | 5.14 | 29698900 | RECLTD.Nov 25 | 136.05 | -1.73 | 0.73 | 38982000 | |
| ESCORTS | 1581 | 10.41 | 2.47 | 3954000 | GMRINFRA.Nov 25 | 39.25 | -1.63 | 0.78 | 1.28E+08 | |
| HDFC BAK | 289.05 | 5.9 | 14.08 | 11182600 | IPCALAB.Nov 25 | 2038.2 | -0.9 | 4.7 | 2921850 | |
| SBIN | 431 | 4.71 | 2.05 | 40177500 | ICICIPRULI.Nov 25 | 640.9 | -0.5 | 0.14 | 3710250 | |
| ABFRL | 102.6 | 4 | 2.86 | 1.02E+08 | FINNIFTYW.Nov 23 | 18580 | -0.24 | 37.5 | 440 | |
| Short Covering | Long Unwinding | |||||||||
| ESCORTS.Nov 25 | 1801.45 | 10.16 | -44.16 | 4088700 | ESCORTS.Nov 25 | 1801.45 | 10.16 | -44.16 | 4088700 | |
| CHAMBLFERT.Nov 25 | 365.2 | 2.89 | -7.08 | 768000 | CHAMBLFERT.Nov 25 | 365.2 | 2.89 | -7.08 | 768000 | |
| PNB.Nov 25 | 41.7 | 2.58 | -38.57 | 1.67E+08 | PNB.Nov 25 | 41.7 | 2.58 | -38.57 | 1.67E+08 | |
| SRF.Nov 25 | 2190.25 | 1.52 | -6.4 | 3215625 | SRF.Nov 25 | 2190.25 | 1.52 | -6.4 | 3215625 | |
| GRANULES.Nov 25 | 305.85 | 1.16 | -3.99 | 12434100 | GRANULES.Nov 25 | 305.85 | 1.16 | -3.99 | 12434100 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Crompton Greaves Consume | 451.3 | -1.56 | 644215 | 280879 | 79.33 | Nifty Next 50 | 43615.45 | -1.41 | 1441259 | |
| Max Financial Services l | 949.9 | 0.14 | 603082 | 384579 | 78.07 | Nifty 500 | 15302.55 | -0.99 | 4555213 | |
| Icici Lombard General In | 1512.35 | -1.09 | 598304 | 412841 | 77.55 | Nifty 50 | 17764.8 | -0.75 | 40340522 | |
| Infosys Limited | 1779.4 | -0.45 | 4326924 | 3096489 | 75.36 | Nifty 100 | 18059.5 | -0.83 | 18227402 | |
| Hcl Technologies Ltd. | 1120.2 | -2.8 | 5384530 | 3465588 | 74.9 | Nifty Bank | 37976.25 | -0.17 | 18908202 | |
| Ipca Laboratories Ltd. | 2077.15 | -0.95 | 638644 | 389116 | 70.35 | Nifty it | 36007 | -1.78 | 1248751 | |
| Hdfc Ltd. | 2925.4 | -0.78 | 3481704 | 2583517 | 70.33 | Nifty Midcap 50 | 8735 | -1.69 | 14105885 | |
| Hindustan Unilever Ltd | 2399.4 | 0.35 | 1236943 | 821900 | 69.99 | Nifty Midcap 100 | 31271.4 | -1.44 | 5024230 | |
| Dabur India Ltd. | 608.75 | 0.12 | 841689 | 535931 | 69.54 | India Vix | 14.86 | -0.8 | 4.73E+08 | |
| Icici Bank Ltd. | 762.9 | 0.21 | 20644385 | 14256159 | 66.28 | Nifty Energy | 23794.35 | -0.18 | 1778705 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Deposit Growth and Loan Growth on 26th November, 2021
INR: FX Reserves, USD on 26th November, 2021 |
•USD: Existing Home Sales (Oct) on 22nd November, 2021
•USD: GDP (QoQ) (Q3) on 24th November, 2021 |
NEWS UPDATES
•ABB Power Products & Systems India on Friday announced its rebranding as Hitachi Energy India Ltd. “Following the recent rebranding of its parent company to Hitachi Energy, its operations in India today announced their evolution to Hitachi Energy India Limited’, reaffirming their commitment to accelerating the clean energy transition in India,” a company statement said.
•The Indian Railway Catering and Tourism Corporation (IRCTC) is looking to increase its earnings from ticketing as the pandemic restriction on the number of trains has eased. More tickets are likely to be booked on its platform since over-the-counter sale of tickets remained restricted. IRCTC officials said booking of tickets through its platform was already beyond pre-pandemic levels. “There were close to 1.4 million tickets being booked daily during the peak season before Chhath Puja and Diwali, which sees more passengers.
•The pandemic has fast-tracked the sale of fast-moving consumer goods products through online channels and most companies have seen their share from the e-commerce channel double in the last 18 months. However, the government’s draft policy on e-commerce companies has forced consumer companies to also adapt to the changes.
•Billionaire Mukesh Ambani-led Reliance Industries Ltd (RIL) and Saudi Aramco on Friday decided to re-evaluate the proposed Investment by Aramco in the oil-to-chemical (O2C) business in light of the Indian firm’s new energy forays.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| TIGERLOGS | Interim Dividend | 22-Nov-21 | SPELS | Quarterly Results | 23-Nov-21 |
| CORPOCO | Quarterly Results | 23-Nov-21 | MNPLFIN | General | 24-Nov-21 |
| DUGARHOU | General | 23-Nov-21 | SAMINDUS | General | 24-Nov-21 |
| GNRL | General | 23-Nov-21 | SEACOAST | General | 24-Nov-21 |
| NARBADA | Preferential Issue of shares | 23-Nov-21 | SIEMENS | Audited Results;Final Dividend | 24-Nov-21 |
| PQIF | Increase in Auth. Capital;Stock Split | 23-Nov-21 | VERITAS | Quarterly Results | 24-Nov-21 |
| QUANTBUILD | A.G.M.;General | 23-Nov-21 | ALPHA | Quarterly Results | 25-Nov-21 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| ESTER | 22-Nov-21 | Interim Dividend – Rs. – 1.40 | IPCALAB | 22-Nov-21 | Interim Dividend – Rs. – 8.00 |
| GABRIEL | 22-Nov-21 | Interim Dividend – Rs. – 0.5500 | IRCON | 22-Nov-21 | Interim Dividend – Rs. – 0.70 |
| GLS | 22-Nov-21 | Interim Dividend – Rs. – 10.50 | JAMNAAUTO | 22-Nov-21 | Interim Dividend – Rs. – 0.50 |
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