NIFTY:
The NIFTY was moving inside a trading range for nine days and the range was very tight – just 50 points, with support at 11850 and resistance at 12000. we had suggested that this tight range will not hold for a long time. And this is what happened today.
The NIFTY broke down below 11850 giving a short signal. The signal was confirmed when the index closed below this level. A short term downtrend is now in effect. For most traders, this is the time to step aside and wait patiently for new support to emerge. For active traders there are opportunities to go short, but please understend that there may be many sharp rallies in between.
Support for this down move comes at 11700. we assume that markets will find support at this level.
VIEW:
Sell on a rally towards 11880 with a stop just above 11910.
Sell on a breakdown below 11800 with a stop just above 11840.
TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| RELIANCE | 1472.30 | BUY | The stock has given the breakout with volume on the intraday as well as on the daily chart. The stock can be bought at CMP with a stop loss of 1459 and for the target of 1490-1500. |
| CANBK | 196.95 | SELL | The immediate trend of the stock is week . The stock can be sell with a stop loss of 200 and for the target of 190. |
DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| UJJIVAN | 270 PE | BUY | 12.60 | CMP | 10 | 18 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| CENTURYTEX.Nov 28 | 391.85 | 0.59 | 41.74 | 2883000 | SUNTV.Nov 28 | 468.1 | -11.45 | 30.45 | 3466000 | |
| MFSL.Nov 28 | 474.25 | 0.6 | 14.09 | 5374800 | IDEA.Nov 28 | 3.7 | -8.64 | 3.6 | 5.56E+08 | |
| ICICIPRULI.Nov 28 | 525.6 | 0.36 | 9.56 | 7252500 | JUSTDIAL.Nov 28 | 512.95 | -7.43 | 11.19 | 3992800 | |
| MGL.Nov 28 | 1006.95 | 3.4 | 4.64 | 1988400 | YESBANK.Nov 28 | 68.05 | -7.1 | 0.12 | 1.64E+08 | |
| MOTHERSUMI.Nov 28 | 134.9 | 0.19 | 3.74 | 30333600 | ADANIENT.Nov 28 | 198.55 | -6.17 | 2.16 | 30616000 | |
| Short Covering | Long unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| CUMMINSIND.Nov 28 | 563.75 | 0.7 | -3.99 | 1800400 | BANKNIFTY.Nov 28 | 30585.6 | -1.65 | -9.37 | 1714140 | |
| NESTLEIND.Nov 28 | 14264 | 0.7 | -1.85 | 471250 | JINDALSTEL.Nov 28 | 142.45 | -5.88 | -8.53 | 39616000 | |
| VOLTAS.Nov 28 | 701.6 | 1.81 | -1.83 | 2631000 | ESCORTS.Nov 28 | 652.25 | -3.12 | -7.94 | 4758600 | |
| TCS.Nov 28 | 2179.5 | 3.32 | -1.58 | 19140500 | JUBLFOOD.Nov 28 | 1580.25 | -2.95 | -7.34 | 2286500 | |
| TITAN.Nov 28 | 1162 | 0.15 | -1.26 | 12428250 | COALINDIA.Nov 28 | 207.55 | -1.38 | -6.55 | 22488400 | |
Top Delivery Percentage
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| THE RAMCO CEMENTS | 789.75 | -0.77 | 241237 | 846852 | 89.74 | INDIA VIX | 16.46 | 1.29 | 251929431 | |
| HDFC BANK LTD. | 1257.55 | -0.57 | 4646748 | 5175501 | 72.45 | Nifty Energy | 15962.65 | 0.18 | 1855013 | |
| CUMMINS INDIA LIMITED | 565.7 | 1.07 | 1018794 | 360976 | 64.96 | Nifty Auto | 8150.2 | -0.11 | 50792878 | |
| Siemens Ltd | 1634.55 | -2.43 | 842980 | 376816 | 64.17 | Nifty IT | 15240.95 | -0.44 | 1593405 | |
| Power Grid Corporation o | 189.25 | -1.3 | 5319551 | 3624853 | 63.87 | Nifty 50 | 11840.45 | -0.61 | 34896169 | |
| Cipla Ltd | 447.9 | -1.53 | 3001272 | 2557330 | 62.23 | Nifty FMCG | 31582.45 | -0.69 | 563929 | |
| Hindustan Unilever Ltd | 2091 | 0.46 | 868433 | 634180 | 60.39 | Nifty Pharma | 7660.45 | -1.6 | 53563679 | |
| ICICI PRUDENTIAL LIFE IN | 529.2 | 0.81 | 3677384 | 1104335 | 58.4 | Nifty Bank | 30541.55 | -1.84 | 13446327 | |
| TATA CONSULTANCY SERV LT | 2178.6 | 3.7 | 3823365 | 1728479 | 57.93 | Nifty Metal | 2556.65 | -2.05 | 159978426 | |
| TECH MAHINDRA LIMITED | 757.05 | -1.73 | 2434874 | 774670 | 57.56 | Nifty Media | 1793.85 | -4.53 | 226623081 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| •INR: WPI Inflation (YoY) ( Oct) on 14th November 2019
•INR: Trade Balance and FX Reserve,USD on 15th November 2019 |
•USA: PPI (MoM) (Oct) on 14th November 2019
•USA: Crude Oil Inventories on 14th November 2019 |
NEWS UPDATES
Avenue Supermarts, which operates pan India supermarket chain DMart, has initiated preliminary discussions with merchant bankers for a stake sale by the promoters in early 2020.The promoters, led by veteran stock market investor Radhakishen Damani, hold 80.21 percent stake in the company. SEBI’s minimum public shareholding (MPS) rule for listed companies stipulates that promoters cannot own more than 75 percent and that public shareholders should own a minimum 25 percent.
Vodafone Idea and Bharti Airtel are set to file a review petition this week, which may include seeking a reduction in the penalties and interest component of the dues, as well as question some components of the non-core items that the Supreme Court says should be included while computing adjusted gross revenue (AGR) of telcos.
Reliance Industries (RIL), India’s most profitable company, has prepared a blueprint for its oil-to-chemical (O2C) play as it advances the negotiations with strategic investor Saudi Aramco to sell strategic stake in the business.
KEC International Company won new orders worth Rs 2,255 crore. It secured new orders of Rs 2,255 crore across transmission & distribution business of Rs 885 crore in India including 400 kV transmission line and substation orders from Power Grid Corporation of India entity under Tariff Based Competitive Bidding (TBCB) route.
Source: Economic Times, Money Control
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| APOLLOHOSP | Quarterly Results | 14-Nov-19 | NBCC | Quarterly Results | 14-Nov-19 |
| BHARTIARTL | Quarterly Results | 14-Nov-19 | ONGC | Quarterly Results | 14-Nov-19 |
| DISHTV | Quarterly Results | 14-Nov-19 | PAGEIND | Interim Dividend;Quarterly Results | 14-Nov-19 |
| FRETAIL | Quarterly Results | 14-Nov-19 | PCJEWELLER | Quarterly Results | 14-Nov-19 |
| GLENMARK | Quarterly Results | 14-Nov-19 | PFC | Quarterly Results | 14-Nov-19 |
| GMRINFRA | Quarterly Results | 14-Nov-19 | RELINFRA | Quarterly Results | 14-Nov-19 |
| GODFRYPHLP | Quarterly Results | 14-Nov-19 | RPOWER | Quarterly Results | 14-Nov-19 |
| GRASIM | Quarterly Results | 14-Nov-19 | SAIL | Quarterly Results | 14-Nov-19 |
| HINDCOPPER | General;Quarterly Results | 14-Nov-19 | SUVEN | Quarterly Results | 14-Nov-19 |
| IDEA | Quarterly Results | 14-Nov-19 | SUZLON | Quarterly Results | 14-Nov-19 |
| ITDC | Quarterly Results | 14-Nov-19 | UNIONBANK | Quarterly Results | 14-Nov-19 |
| MPHASIS | Audited Results;Quarterly Results | 14-Nov-19 | VEDL | Quarterly Results | 14-Nov-19 |
| APOLLOHOSP | Quarterly Results | 14-Nov-19 | NBCC | Quarterly Results | 14-Nov-19 |
Corporate Action
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| NICCOPAR | 14-Nov-19 | Interim Dividend – Rs. – 0.20 | GILLETTE | 18-Nov-19 | Final Dividend – Rs. – 25.00 |
| TRITURBINE | 14-Nov-19 | Interim Dividend – Rs. – 0.50 | EXIDEIND | 18-Nov-19 | Interim Dividend – Rs. – 1.60 |
| SUNDRMFAST | 14-Nov-19 | Interim Dividend – Rs. – 1.35 | IBULHSGFIN | 18-Nov-19 | Interim Dividend – Rs. – 7.00 |
| EMAMILTD | 14-Nov-19 | Interim Dividend – Rs. – 2.00 | PGHH | 19-Nov-19 | Final Dividend – Rs. – 48.00 |
| GODREJCP | 14-Nov-19 | Interim Dividend – Rs. – 2.00 | MANAPPURAM | 19-Nov-19 | Interim Dividend – Rs. – 0.55 |
| GABRIEL | 15-Nov-19 | Interim Dividend – Rs. – 0.45 | INDOSTAR | 19-Nov-19 | Interim Dividend – Rs. – 1.00 |
| AMRUTANJAN | 15-Nov-19 | Interim Dividend – Rs. – 0.55 | ESSELPRO | 19-Nov-19 | Interim Dividend – Rs. – 1.25 |
| GMM | 15-Nov-19 | Interim Dividend – Rs. – 1.00 | AMBER | 19-Nov-19 | Interim Dividend – Rs. – 1.60 |
| AJANTPHARM | 15-Nov-19 | Interim Dividend – Rs. – 13.00 | CARERATING | 19-Nov-19 | Interim Dividend – Rs. – 8.00 |
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
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