Outlook-2019-11-15

NIFTY:

The NIFTY continues to remain in a trading range after having broken down from support levels yesterday. While the index traded below 11850 for most part of the day, eventually, the index rallied to close above this support level. This means that the index has retreated back into the trading zone.

Support continues to come at 11850 and resistance at 12000. Traders were short should continue with a stop above 12000. Because the stops are wide, we had suggested that most traders would be best served by stying on the sideline. Only traders who wish to take a short position should continue with a stop above 12000 as already mentioned above. The NIFTY first support level comes around 11700.

We assume that slowly the markets will revert  to this support. We cannot offer a timeline for such a drift. It is quite possible  that markets may again be choppy and remains broadly inside the trading range which has already developed. The contours of this range are: support at 11850 and resistance at 12000.

VIEW:

Sell on a rally towards 11980 with a stop just above 12010.

Sell on breakdown below 11850 with a stop just above 11880.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
     HDFCBANK 1273.90 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  1262 and for the target of  1290-1500.
     TATAMOTORS 167.60 SELL The immediate trend of the stock is week . The stock can be sell with a stop loss of  171 and for  the target of  160.

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
ICICIBANK 500 CE BUY 10.75 CMP 8 16 OI Increase

 

Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
MUTHOOTFIN.Nov 28 714.2 9.55 28.73 3481500 INFRATEL.Nov 28 204.85 -4.14 19.86 14496000
MGL.Nov 28 1033.9 2.68 23.87 2463000 DIVISLAB.Nov 28 1655 -1 18.13 2739200
VOLTAS.Nov 28 714.4 1.82 22.73 3229000 BHARTIARTL.Nov 28 366 -0.64 16.4 35069046
APOLLOHOSP.Nov 28 1426.3 2.69 16.81 2029500 NATIONALUM.Nov 28 41.35 -4.61 9.31 51680000
BALKRISIND.Nov 28 816.5 0.11 15.24 1941600 SIEMENS.Nov 28 1612.9 -1.25 8.75 1701700
                                                                        Short Covering                                                                            Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
NIFTYIT.Nov 28 15452 0.85 -15.12 8700 JUSTDIAL.Nov 28 512 -0.19 -8.1 3669400
SUNTV.Nov 28 488.35 4.33 -5.42 3278000 BIOCON.Nov 28 254.9 -0.82 -4.21 10081800
PIDILITIND.Nov 28 1334.05 0.3 -3.23 3805000 BRITANNIA.Nov 28 3241.05 -1.16 -1.59 2087400
BATAINDIA.Nov 28 1720 1.78 -3.19 2536600 BANKBARODA.Nov 28 93.4 -0.11 -1.32 73336500
CASTROLIND.Nov 28 146.1 0.72 -2.07 4661400 ICICIPRULI.Nov 28 522.95 -0.5 -0.41 7222500

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
MARICO LIMITED 356.55 -2.7 3738810 2127797 72.76 Nifty IT 15388.75 0.97 82851
Petronet LNG Limited 276.3 -0.86 3050324 1868791 71.61 Nifty Bank 30749.95 0.68 82851
HDFC Ltd. 2226.8 0.88 1953996 1860270 66.63 Nifty Auto 8190.9 0.5 82848
NTPC Limited 118.55 0.21 5208393 8109116 66.36 Nifty 50 11872.1 0.27 82851
Bharti Airtel Limited 362.5 -1.65 21091587 4255455 66.24 Nifty Media 1791.95 -0.11 82848
HCL Technologies Ltd. 1147.8 0.81 1270462 1113536 65.92 Nifty Energy 15905 -0.36 82851
UltraTech Cement Limited 4003.4 -2.73 573058 340892 65.63 Nifty FMCG 31439.45 -0.45 82851
Larsen & Toubro Limited 1380.45 -0.9 3000518 1904955 65.03 Nifty Pharma 7591.45 -0.9 82851
Colgate Palmolive (India 1547.2 -0.87 601227 667226 63.99 Nifty Metal 2506.6 -1.96 82848
THE RAMCO CEMENTS 781.9 -0.99 136136 154286 63.96 INDIA VIX 15.65 -4.92 82851

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR:  Trade Balance and FX Reserve, USD   on 15th November 2019 •USA:  Retail Sales (MoM) (Oct) on 15th November 2019

•USA:   Export Price Index (MoM)  (Oct) on 15th November 2019

NEWS UPDATES

•Vedanta Limited has emerged as the highest bidder for the Jamkhani coal block in Sundargarh district, Odisha, in the tenth lot of the captive coal block auction conducted by coal ministry. The coal block is located close to the company’s aluminium smelter at Jharsuguda. It is also expected to be useful for the company in terms of annual capacity, reserves and readiness to produce.

•India’s wholesale inflation or WPI dipped marginally for the month of October at 0.16 per cent compared to 0.33 per cent in September supported by higher food prices which prevented the index from falling into negative territory.It is the lowest the WPI has touched in more than three years.The figures showed inflation for manufactured items at -0.84% in October compared to -0.42% in September.

•The telecom department has asked its circle level offices to complete reassessment of Adjusted Gross Revenue or AGR basis the Supreme Court judgment by December 20, 2019, beginning the formal process of collecting license fees and spectrum usage charges based on AGR, that have been pending for more than a decade.                                                                                                                                                                                                    Source: Economic Times, Money Control

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ALFL Quarterly Results 15-Nov-19 SITAENT Quarterly Results 15-Nov-19
ASHUTPM Quarterly Results 15-Nov-19 SVAMSOF Quarterly Results 15-Nov-19
CTL Preferential Issue of shares 15-Nov-19 TTML Quarterly Results 15-Nov-19
GARGFUR Quarterly Results 15-Nov-19 VADILALIND Quarterly Results 15-Nov-19
IL&FSENGG Audited Results 15-Nov-19 VAICC Quarterly Results 15-Nov-19
JOLYPLS Quarterly Results 15-Nov-19 ARIHCAPM Quarterly Results 16-Nov-19
KINETRU Quarterly Results 15-Nov-19 VYAPAR Voluntary Delisting of Shares 16-Nov-19
NIRAJ Issue Of Warrants 15-Nov-19 ALEXANDER Quarterly Results 18-Nov-19
PURVA General 15-Nov-19 AMTEKAUTO Quarterly Results 18-Nov-19
RCOM Quarterly Results 15-Nov-19 FRONTIER General;Preferential Issue of shares 18-Nov-19
SANWARIA Quarterly Results 15-Nov-19 MYSPAPE Quarterly Results 18-Nov-19
SIEL Quarterly Results 15-Nov-19 SODFC General 18-Nov-19
ALFL Quarterly Results 15-Nov-19 SITAENT Quarterly Results 15-Nov-19

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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
GILLETTE 18-Nov-19 Final Dividend – Rs. – 25.00 CONART 20-Nov-19 Interim Dividend – Rs. – 1.00
EXIDEIND 18-Nov-19 Interim Dividend – Rs. – 1.60 ADFFOODS 20-Nov-19 Interim Dividend – Rs. – 1.50
IBULHSGFIN 18-Nov-19 Interim Dividend – Rs. – 7.00 BHARATFORG 20-Nov-19 Interim Dividend – Rs. – 1.50
PGHH 19-Nov-19 Final Dividend – Rs. – 48.00 NAVNETEDUL 20-Nov-19 Interim Dividend – Rs. – 2.50
MANAPPURAM 19-Nov-19 Interim Dividend – Rs. – 0.55 INDTONER 20-Nov-19 Interim Dividend – Rs. – 3.00

 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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