NIFTY:
The Nifty continued opening with a gap up of 49 points at 12680.60. The index quickly added another 90 points to its opening price within the first 30 minutes of trading and recorded its intraday high at 12769.75. After that prices have seen a sharp decline of almost 200 points and made its intraday low at 12571.10. However prices have recovered almost all the losses and finally closed at 12749.15 with a gain of 118.05 points. The Metals and Pharma sectors have led the gains and closed higher by more than 3%.
The market recorded another lifetime new highs with a wide range, closing at the highs of the day.
The long term trend remains up. This is natural because the Nifty itself is recording lifetime new highs. Momentum moves up and is now in the strong area. This is the place where momentum could turn on the downside. We will watch the price action for the next two days.
We should not question the validity of the lifetime new highs. We just try to be long on the breakouts, consolidations or dips.
BANK NIFTY:
Bank Nifty opened at 28713.15 with a gap up of 110 points. Prices first rallied and recorded its intraday high at 29030.90. Prices have then seen a sharp fall of about 800 points and recorded its intraday low at 28211.10. Another rally in the second half towards the end of the day’s trading session helped the index close at 28845 with a gain of 250 points.
Private banks have performed well and closed higher by 0.45% while PSU Banks have closed lower by 0.47%. Within the index, in terms of points, Axis Ban contributed highest while Indusind Bank the lowest.
The index breaks above 29000 and closes very near to this level. Trend is very strong on the upside and there is no doubt about that. But we should watch the momentum here which is now giving us a sign of slowing down. This could result in a process of consolidation.
Trade AnyTime AnyWhere With Elite Empower Mobile App
TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| LUPIN | 911.10 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 890 and for the target 945. |
| MGL | 878 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 860 and for the target 905. |
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 |
| CADILAHC | 415 CE | BUY | 16 | CMP | 13 | 23 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| HINDALCO.Nov 26 | 207.5 | 7.65 | 21.4 | 35711500 | BATAINDIA.Nov 26 | 1330.8 | -2.81 | 28.29 | 1301850 | |
| SAIL.Nov 26 | 40 | 4.85 | 20.91 | 54815000 | NMDC.Nov 26 | 90.75 | -3.56 | 26.81 | 34036000 | |
| MFSL.Nov 26 | 615.7 | 0.07 | 18.42 | 2649400 | BHARATFORG.Nov 26 | 500 | -4.08 | 25.67 | 7270500 | |
| NTPC.Nov 26 | 92.5 | 1.76 | 18.21 | 52878900 | PAGEIND.Nov 26 | 21899.95 | -0.96 | 20.11 | 123300 | |
| BAJFINANCE.Nov 26 | 4241 | 1.18 | 17.16 | 6403750 | ICICIGI.Nov 26 | 1270 | -0.18 | 19.26 | 178925 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| BIOCON.Nov 26 | 418.15 | 2.94 | -4.82 | 11074500 | RBLBANK.Nov 26 | 205.8 | -2.14 | -3.86 | 21179600 | |
| IBULHSGFIN.Nov 26 | 159.75 | 0.82 | -4.73 | 17121300 | HAVELLS.Nov 26 | 818 | -2.71 | -1.33 | 4984000 | |
| APOLLOHOSP.Nov 26 | 2183.3 | 6.91 | -4.56 | 2545000 | APOLLOTYRE.Nov 26 | 162 | -1.43 | -0.35 | 8480000 | |
| DIVISLAB.Nov 26 | 3356.2 | 2.37 | -3.35 | 2814200 | CHOLAFIN.Nov 26 | 305.3 | -2.34 | -0.33 | 5337500 | |
| BOSCHLTD.Nov 26 | 12326.3 | 2.21 | -3.16 | 177600 | GMRINFRA.Nov 26 | 24.55 | -1.01 | -0.07 | 64912500 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Icici Lombard General In | 1265.35 | -0.31 | 1351245 | 626123 | 76.78 | Nifty Pharma | 11570.35 | 3.59 | 82584 | |
| Hdfc Life Insurance Comp | 623.45 | 2.26 | 6526986 | 2796982 | 58.25 | Nifty Metal | 2645.05 | 3.46 | 82584 | |
| Icici Prudential Life In | 428.55 | 1.68 | 3399125 | 1905630 | 56.63 | Nifty it | 21330.5 | 1.68 | 82584 | |
| Hdfc Ltd. | 2324.3 | 2.3 | 7235313 | 4697875 | 55.19 | Nifty Auto | 8255.2 | 1.57 | 82584 | |
| Colgate Palmolive (india | 1499.35 | 2.17 | 717070 | 561186 | 53.94 | Nifty Fmcg | 30845.6 | 1.15 | 82584 | |
| Nestleind | 16697.6 | 0.56 | 248311 | 154849 | 53.46 | Nifty 50 | 12749.15 | 0.93 | 82584 | |
| Hindustan Unilever Ltd | 2131.15 | -0.26 | 2759942 | 1312727 | 53.11 | Nifty Bank | 28845 | 0.84 | 82584 | |
| Petronet Lng Limited | 240.95 | 0.77 | 3639712 | 1565695 | 52.07 | Nifty Realty | 236.85 | 0.77 | 82584 | |
| Sbi Life Insurance Compa | 839.55 | 1.22 | 1822930 | 767984 | 51.52 | Nifty Energy | 15773.55 | 0.39 | 82584 | |
| Maruti Suzuki India Ltd | 6857.35 | 0.94 | 1481918 | 862220 | 50.86 | Nifty Media | 1484.55 | -0.27 | 82584 | |
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: Crude Oil Inventories on 12th November, 2020
•USD: Initial Jobless Claims on 12th November, 2020 |
NEWS UPDATES
| •Coal India Limited on Wednesday reported 16% decline in consolidated net profit for the quarter ending 30 September, 2020 at Rs.2,952 crore. It was Rs.3,523 crore in the year-ago period. The company’s board approved payment of interim dividend for the financial year 2020-21 at Rs.7.50 per share. The date of payment of interim dividend is ‘on and from 27th November, 2020
•Abbott India on Wednesday reported a 1.34% increase in net profit at Rs.180.73 crore for the second quarter ended September 30. The company had posted a net profit of Rs.178.33 crore in July-September quarter of previous fiscal. Revenue from operations remained flat at Rs.1,054.85 crore during the quarter. •Amazon.com Inc has asked India’s market regulator to investigate Future Retail Ltd for insider trading, a letter seen by Reuters showed, as it seeks to prevent its business partner from becoming part of rival Reliance’s empire. •India approved an incentive program worth Rs 1.46 trillion ($20 billion) to attract companies to set up manufacturing in the South Asian nation, Finance Minister Nirmala Sitharaman said.The government will offer production-linked incentives to 10 sectors including automobile, solar panel and specialty-steel makers over a five-year period, she said after a meeting of a ministerial panel on Wednesday. Textile units, food processing plants and specialized pharmaceutical product makers are also eligible for the incentives. 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 | Ex-Date | Company Name | Purpose | Ex-Date |
| ADVENZYMES | Quarterly Results | 12-Nov-20 | IRCTC | Quarterly Results | 12-Nov-20 |
| ALCHEM | Quarterly Results | 12-Nov-20 | JINDALPOLY | Quarterly Results | 12-Nov-20 |
| ANDHRACEMT | Quarterly Results | 12-Nov-20 | JUBLFOOD | Quarterly Results | 12-Nov-20 |
| AVANTI | Quarterly Results | 12-Nov-20 | KOHINOOR | Quarterly Results | 12-Nov-20 |
| BAJAJHIND | Quarterly Results | 12-Nov-20 | KOVAI | Quarterly Results | 12-Nov-20 |
| BPLPHARMA | Quarterly Results | 12-Nov-20 | KWALITY | Quarterly Results | 12-Nov-20 |
| CAMLINFINE | Quarterly Results | 12-Nov-20 | LAOPALA | Quarterly Results | 12-Nov-20 |
| CORALAB | Quarterly Results | 12-Nov-20 | MGL | Quarterly Results | 12-Nov-20 |
| DCMSRMIND | Quarterly Results | 12-Nov-20 | NATCOPHARM | Interim Dividend; Results | 12-Nov-20 |
| EICHERMOT | Quarterly Results | 12-Nov-20 | NDTV | Quarterly Results | 12-Nov-20 |
| GRASIM | Quarterly Results | 12-Nov-20 | NESCO | Quarterly Results | 12-Nov-20 |
| IFL | Half Yearly Results | 12-Nov-20 | PAGEIND | Quarterly Results | 12-Nov-20 |
| INFIBEAM | Quarterly Results | 12-Nov-20 | PARLEIND | Quarterly Results | 12-Nov-20 |
| IRB | Quarterly Results | 12-Nov-20 | ZUARIGLOB | Quarterly Results | 12-Nov-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| AJANTPHARM | 12-Nov-20 | Buy Back of Shares | MJCO | 12-Nov-20 | Buy Back of Shares |
| AJANTPHARM | 12-Nov-20 | Interim Dividend – Rs. – 9.50 | NACLIND | 12-Nov-20 | Interim Dividend – Rs. – 0.10 |
| ASTRAL | 12-Nov-20 | Interim Dividend – Rs. – 1.00 | NTPC | 12-Nov-20 | Buy Back of Shares |
| BALKRISIND | 12-Nov-20 | Interim Dividend – Rs. – 4.00 | PREMCO | 12-Nov-20 | Interim Dividend – Rs. – 2.00 |
| BSOFT | 12-Nov-20 | Interim Dividend – Rs. – 1.00 | SUNDRMFAST | 12-Nov-20 | Interim Dividend – Rs. – 1.30 |
| CHAMBLFERT | 12-Nov-20 | Interim Dividend – Rs. – 3.00 | THYROCARE | 12-Nov-20 | Interim Dividend – Rs. – 10.00 |
| EMAMILTD | 12-Nov-20 | Interim Dividend – Rs. – 4.00 | IPCALAB | 13-Nov-20 | Interim Dividend – Rs. – 8.00 |
| GEOJITFSL | 12-Nov-20 | Interim Dividend – Rs. – 1.50 | PGHH | 13-Nov-20 | Final Dividend – Rs. – 105.00 |
| KANSAINER | 12-Nov-20 | Interim Dividend – Rs. – 1.2500 | PRINCEPIPE | 13-Nov-20 | Interim Dividend – Rs. – 1.50 |
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