NIFTY:
Yesterday the news of the Pfizer vaccine success took the US markets significantly higher in early trading. But eventually, by the time markets closed in America most of the gains had vanished. The Nifty opened higher by quickly gave up all its gains. After going below 12500, the index again regained its momentum and started moving up. It was not a straight line rally. There was a sharp correction in the index around 2:00 PM. But with all said and done, the index closed significantly higher up by 170 points. The final close was at 12631. The Nifty continues to record lifetime highs for the last two days.
The bank index gained almost 4% up by 1071 points. Not just the banks, most NBFC stocks also had similar gains. Bajaj finance was up by 9%, while Bajaj Finserv was up by 6%.
It is difficult to anticipate large gap ups and then to expect that the gap up will be maintained. This could easily be a blowout phase for the market. Given the big gains noticed by the Nifty, reads will well understand the trend is decisively up.
BANK NIFTY:
Bank Nifty opened at 28039.45 with a big gap up of 457 points. Prices first moved up and added another 750 points into the gains but then saw a sharp fall. However prices have recovered quickly and finally closed at 28603.50 with a gain of 1021 points. Private and PSU Banks both have performed almost same and closed higher by more than 3.50%. Within the index in terms of points, HDFC Bank contributed highest followed by ICICI Bank.
Rally continued in the Bank Nifty. On October 30th 2020, the index made a swing low at 23612.70 and today prices have touched a high at 28802.50. In these 7 trading days prices have rallied more than 5000 points or almost 22% from the swing low.
Trade AnyTime AnyWhere With Elite Empower Mobile App
TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| MOTHERSON SUMI | 127.40 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought between 125-126 with a stop at 121 and for the target 135. |
| AMARARAJA | 832.50 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 820 and for the target 855. |
Get All Your Mutual Fund Portfolio Retuns on Your Mobile by Elite Kuber App
DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| ADANIPORTS | 365 CE | BUY | 14.65 | CMP | 11 | 20 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| RBLBANK.Nov 26 | 210 | 6.41 | 29.81 | 24408800 | MUTHOOTFIN.Nov 26 | 1191.55 | -6.98 | 57.65 | 4202250 | |
| LICHSGFIN.Nov 26 | 324.8 | 6.51 | 25.73 | 15460000 | APOLLOHOSP.Nov 26 | 2048.85 | -2.05 | 34.31 | 2709000 | |
| INDIGO.Nov 26 | 1613 | 8.38 | 21.32 | 3158500 | BRITANNIA.Nov 26 | 3525.05 | -1.07 | 18.38 | 1445200 | |
| CANBK.Nov 26 | 96.75 | 3.98 | 17.94 | 17290000 | TORNTPOWER.Nov 26 | 313 | -1.15 | 15.91 | 1989000 | |
| ASHOKLEY.Nov 26 | 90.85 | 7.45 | 15.79 | 39474000 | BIOCON.Nov 26 | 406.55 | -2.56 | 14.47 | 13139900 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| BATAINDIA.Nov 26 | 1373 | 0.79 | -10.62 | 1152800 | JUBLFOOD.Nov 26 | 2228.95 | -4.92 | -4.37 | 1782500 | |
| NTPC.Nov 26 | 90.8 | 2.19 | -5.84 | 48381600 | SRF.Nov 26 | 5002.6 | -1.6 | -2.9 | 581625 | |
| COALINDIA.Nov 26 | 124.35 | 2.68 | -5.07 | 31727500 | BERGEPAINT.Nov 26 | 646.45 | -1.4 | -2.73 | 3526600 | |
| CHOLAFIN.Nov 26 | 311.65 | 2.23 | -3.51 | 5847500 | ESCORTS.Nov 26 | 1342.95 | -1.04 | -0.81 | 2555300 | |
| NATIONALUM.Nov 26 | 33.8 | 1.35 | -3.35 | 41650000 | ||||||
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Icici Lombard General In | 1269.25 | -0.16 | 815456 | 318523 | 62.52 | Nifty Bank | 28606 | 3.89 | 76398 | |
| Hindustan Unilever Ltd | 2136.6 | 0.19 | 2471703 | 1325032 | 60.38 | Nifty Realty | 235.05 | 2.06 | 76398 | |
| Petronet Lng Limited | 239.1 | 0.4 | 3007044 | 4758412 | 60.2 | Nifty Energy | 15713.05 | 1.43 | 76398 | |
| Icici Prudential Life In | 421.45 | -0.14 | 3364819 | 1622871 | 59.45 | Nifty 50 | 12631.1 | 1.36 | 76398 | |
| Sbi Life Insurance Compa | 829.4 | 2.63 | 1490688 | 687126 | 54.73 | Nifty Media | 1488.55 | 1.04 | 76398 | |
| Vedanta Limited | 99.75 | 0.96 | 30426536 | 26779585 | 54.47 | Nifty Auto | 8127.25 | 0.74 | 76398 | |
| Hdfc Life Insurance Comp | 609.65 | 2.83 | 4801645 | 1609726 | 54.04 | Nifty Metal | 2556.7 | 0.45 | 76398 | |
| Hdfc Ltd. | 2272.1 | 5.58 | 8512622 | 1876531 | 53.16 | Nifty Fmcg | 30494.75 | 0.13 | 76398 | |
| Power Grid Corporation o | 185.9 | 1.01 | 7771387 | 4538174 | 52.98 | Nifty it | 20978.5 | -3.86 | 76398 | |
| Grasim Ind Ltd. | 789.5 | -0.33 | 2902845 | 1120091 | 51.19 | Nifty Pharma | 11168.9 | -4.33 | 76398 | |
Get Stock Market Recommendation By Our Research Analysts
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: CPI (YoY) (Oct) on 12th November, 2020
INR: Industrial Production (YoY) (Sep ) on 12th November, 202 |
•USD: EIA Short-Term Energy Outlook on 10th November, 2020
•USD: JOLTs Job Openings (Sep) on 10th November, 2020 |
NEWS UPDATES
| •The Godrej Group announced its foray into the financial services space with a housing Finance company. Godrej Housing Finance (GFH) is aiming to achieve a balance sheet of Rs 10,000 crore within the next three years and a customer base of 40,000 borrowers.
•Bhushan Power & Steel, one of the 12 cases mandated by the Reserve Bank of India to be resolved under the Insolvency and Bankrutcy Code (IBC) has got a leg-up with the letter of intent (LOI) of being issued in JSW Steel’s favour. Sources close to the development said the next step was to file the resolution plan with the National Company Law Tribunal (NCLT) for approval. •Tata Power on Tuesday posted a 10 per cent increase in consolidated net profit. “Consolidated PAT stood at Rs 371 crore (in July-September 2020) up by 10 per cent as compared to Rs 339 crore in Q2 FY20 due to stable performance across businesses. On a consolidated basis, Tata Power Group’s Q2 FY21 revenue was up by 15 per cent at Rs 8,413 crore as compared to Rs 7,329 crore last year. • Motherson Sumi Systems on Tuesday reported a 2.7 per cent rise in consolidated net profit at Rs 387.93 crore for the second quarter ended September 30. Total revenue from operations, however, declined to Rs 14,957.21 crore during the quarter under review as against Rs 15,259.74 crore in the year-ago period Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint |
Open Your Demat Account to Invest in Upcoming IPO’s
BOARD MEETINGS
| Company name | Purpose | Meeting Date | Company name | Purpose | Meeting Date |
| ABBOTINDIA | Quarterly Results | 11-Nov-20 | IGARASHI | Quarterly Results | 11-Nov-20 |
| APOLLOHOSP | Quarterly Results | 11-Nov-20 | IGL | Quarterly Results | 11-Nov-20 |
| ASHOKA | Quarterly Results | 11-Nov-20 | INDIANHUME | Quarterly Results | 11-Nov-20 |
| ASIANTILES | Quarterly Results | 11-Nov-20 | LICHSGFIN | General;Quarterly Results | 11-Nov-20 |
| ASTRAMICRO | Quarterly Results | 11-Nov-20 | METROPOLIS | General;Quarterly Results | 11-Nov-20 |
| AUROPHARMA | Interim Dividend;Quarterly Results | 11-Nov-20 | MUNJALAU | General;Quarterly Results | 11-Nov-20 |
| BAJAJST | Quarterly Results | 11-Nov-20 | NATIONALUM | Quarterly Results | 11-Nov-20 |
| BALPHARMA | Quarterly Results | 11-Nov-20 | NBCC | Quarterly Results | 11-Nov-20 |
| BCPL | Half Yearly Results;General | 11-Nov-20 | PGHL | Quarterly Results | 11-Nov-20 |
| CAMS | Interim Dividend;Quarterly Results | 11-Nov-20 | POWERGRID | Quarterly Results | 11-Nov-20 |
| CAPACITE | Quarterly Results | 11-Nov-20 | PRECWIRE | Quarterly Results | 11-Nov-20 |
| COALINDIA | Interim Dividend;Quarterly Results | 11-Nov-20 | SOLARA | Interim Dividend | 11-Nov-20 |
| GALAXYSURF | Quarterly Results | 11-Nov-20 | TTKHEALTH | Quarterly Results | 11-Nov-20 |
| IBULHSGFIN | General;Quarterly Results | 11-Nov-20 | UFLEX | Quarterly Results | 11-Nov-20 |
CORPORATE ACTION
| Company | Ex Date | Purpose | Company | Ex Date | Purpose |
| BUTTERFLY | 11-Nov-20 | Interim Dividend – Rs. – 1.5000 | CHAMBLFERT | 12-Nov-20 | Interim Dividend – Rs. – 3.0000 |
| DABUR | 11-Nov-20 | Interim Dividend – Rs. – 1.7500 | EMAMILTD | 12-Nov-20 | Interim Dividend – Rs. – 4.0000 |
| SHRIRAMCIT | 11-Nov-20 | Interim Dividend – Rs. – 10.0000 | GEOJITFSL | 12-Nov-20 | Interim Dividend – Rs. – 1.5000 |
| AJANTPHARM | 12-Nov-20 | Buy Back of Shares | KANSAINER | 12-Nov-20 | Interim Dividend – Rs. – 1.2500 |
| AJANTPHARM | 12-Nov-20 | Interim Dividend – Rs. – 9.5000 | MJCO | 12-Nov-20 | Buy Back of Shares |
| ASTRAL | 12-Nov-20 | Interim Dividend – Rs. – 1.0000 | NACLIND | 12-Nov-20 | Interim Dividend – Rs. – 0.1000 |
| BALKRISIND | 12-Nov-20 | Interim Dividend – Rs. – 4.0000 | NTPC | 12-Nov-20 | Buy Back of Shares |
| BSOFT | 12-Nov-20 | Interim Dividend – Rs. – 1.0000 | PREMCO | 12-Nov-20 | Interim Dividend – Rs. – 2.0000 |
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
Elite Wealth Advisors Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Advisors Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more
For Daily Share Market Updates, Daily debt market review, Market Research Analysis reports, Weekly Techno-Funda Report, Fundamental Analysis Report, Monthly Recommended stock Picks, Equity Trading Tips, Upcoming IPO/NFO/Bonds/Ncd’s updates & other related information Subscribe our research plan