NIFTY:
The Nifty opened at 12932.50 with a gap up of 152 points. Prices have initially gone down, filled the gap up, and recorded its intraday low at 12797.10. Around 11:15 AM, the index started moving upside and continued that for the rest of the day. A slow and modest up move of about 80 points helped the index to regain the early morning strength and finally the Nifty closed at 12874.20 up by 93.95 points. Banks and Financials have outperformed and led the gains followed by Metal and Realty sectors.
When the market makes lifetime highs, it becomes difficult for a trader to enter. We have to then look at the nearest possible pattern and consider a trade.
Long term trend is up. Long term momentum is also rising although it is now reached the strength area. When prices are at a lifetime highs the market is in a strong bull trend. We are buyers on dips and on intraday breakouts. We do not plan to have any kind of short positions.
BANK NIFTY:
Bank Nifty opened at 28792.25 with a gap up of 198 points. The index first went up and then saw a sharp intraday fall. Prices did not sustain lower for long and saw a mild and steady upside move for the rest of the day and finally closed near its top at 29181 with a gain of more than 600 points.
PSU and Private Banks both have performed well and closed higher by 2.24% and 1.73% respectively. Within the index, in terms of points, HDFC Bank contributed highest while IDFC First Bank contributed lowest.
Gains from Muhurat trading on Saturday and a gap up with an upside rally helped the index to cross 29000 mar easily. The index continued moving upside after a brief pause. A narrow trading range in the index of 27900-28900 has broken on the upside. This breakout gives us a chance to take a long position for the target of 30000.
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TECHNICAL PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| BANKNIFTY | 29200 CE | BUY | 298 | CMP | 230 | 420 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| BALKRISIND.Nov 26 | 1624 | 2.48 | 18.8 | 2181600 | HEROMOTOCO.Nov 26 | 3019.45 | -2.64 | 15.99 | 3438600 | |
| APOLLOTYRE.Nov 26 | 172.4 | 4.55 | 14.57 | 8495000 | MUTHOOTFIN.Nov 26 | 1167.5 | -1.73 | 14.15 | 4677750 | |
| MRF.Nov 26 | 74501.95 | 3.84 | 14.5 | 37440 | MFSL.Nov 26 | 615.6 | -0.06 | 12.33 | 2948400 | |
| CUMMINSIND.Nov 26 | 494.45 | 3.16 | 13.98 | 1946400 | TORNTPHARM.Nov 26 | 2657.25 | -2.51 | 11.73 | 936000 | |
| NMDC.Nov 26 | 95.9 | 2.24 | 13.93 | 29761400 | BOSCHLTD.Nov 26 | 11669.3 | -1.32 | 9.92 | 207150 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| GODREJPROP.Nov 26 | 1037 | 3.67 | -13.47 | 1469650 | CONCOR.Nov 26 | 407.2 | -1.09 | -7.55 | 6062877 | |
| TATAMOTORS.Nov 26 | 157.75 | 5.8 | -5.01 | 81869100 | PEL.Nov 26 | 1411.2 | -3.17 | -2.96 | 3086050 | |
| CANBK.Nov 26 | 92.35 | 0.54 | -4.55 | 16685000 | HINDPETRO.Nov 26 | 217.15 | -1.54 | -2.26 | 25666200 | |
| SAIL.Nov 26 | 40.25 | 1.51 | -4.26 | 50008000 | BHEL.Nov 26 | 28.25 | -0.18 | -2.22 | 63903000 | |
| CADILAHC.Nov 26 | 430.4 | 0.31 | -4.16 | 6131400 | IBULHSGFIN.Nov 26 | 181.1 | -2 | -1.96 | 16935300 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Bharat Heavy Elect Ltd. | 28.25 | -0.18 | 15666967 | 2476070 | 65.65 | India Vix | 19.8 | 3.52 | 84579 | |
| Nmdc Limited | 96.05 | 2.18 | 16737265 | 1817333 | 63.46 | Nifty Metal | 2761.35 | 2.49 | 84579 | |
| L&tfh | 70.5 | 0.64 | 14028398 | 1538389 | 60.98 | Nifty Bank | 29181.3 | 2.05 | 84579 | |
| Icici Lombard General In | 1329.2 | 2.57 | 952298 | 24811 | 59.06 | Nifty Realty | 248.35 | 1.91 | 84579 | |
| National Alum Co Ltd | 36.7 | 4.26 | 24348128 | 2160670 | 58.26 | Nifty Auto | 8425.55 | 0.97 | 84579 | |
| Exide Industries Ltd | 170.35 | 0.56 | 4865825 | 402853 | 57.55 | Nifty 50 | 12874.2 | 0.74 | 84579 | |
| Britannia Ind Ltd. | 3509.8 | -0.5 | 694643 | 32374 | 57.31 | Nifty Fmcg | 31291.45 | -0.14 | 84579 | |
| Steel Authority Of India | 40.3 | 1.64 | 20430699 | 2051584 | 57.11 | Nifty it | 21488.55 | -0.3 | 84579 | |
| Bharat Electronics Ltd | 96.15 | -0.47 | 4536016 | 535435 | 56.5 | Nifty Pharma | 11690.8 | -0.69 | 84579 | |
| Tata Consumer Products l | 518.3 | 0.42 | 2774413 | 294994 | 55.58 | Nifty Media | 1467 | -1.34 | 84579 | |
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UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Bank Loan Growth on 20th November, 2020
INR: FX Reserves, USD on 20th November, 202 |
•USD: Building Permits (Oct) on 18th November, 2020
•USD: Initial Jobless Claims) (Oct) on 19th November, 2020 |
NEWS UPDATES
| •Goldman Sachs has revised India’s GDP forecast for the ongoing financial year as the global investment bank expects economic activity in Asia’s third-largest economy to normalise faster than estimated, provided an effective Covid-19 vaccine is available. The global financial services provider expects India’s gross domestic product to contract 10.3% in 2020-21 against a contraction of 14.8% forecast in September, according to a report published on Tuesday. GDP growth is estimated at 13% in FY22 compared with 15.7% projected earlier.
•Oil and Natural Gas Corp (ONGC) on Tuesday signed contracts for seven oil and gas blocks it had won in the latest bid round that saw scant participation from the private sector. Oil India Ltd signed up for the remaining four blocks awarded under the fifth bid round of Open Acreage Licensing Policy (OLAP). •Morgan Stanley has raised its target for the Sensex, citing the coming growth cycle is not fully priced in. The S&P BSE Sensex is expected to touch 50,000 by the end of next year against an earlier target of 37,300 by June 2021, the global investment bank and financial services company said in a note, as it maintained an ‘overweight’ rating on India. •Bharti Airtel has started deploying 4G technology in 900 megahertz band, which it was using for 2G services, across 10 telecom circles to enhance indoor coverage of the high-speed mobile telephony, according to sources involved in the process. •Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint |
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BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| MANAS | Half Yearly Results | 18-Nov-20 | PRICOLLTD | Rights Issue | 19-Nov-20 |
| OAL | Interim Dividend | 18-Nov-20 | ROLLT | Quarterly Results | 19-Nov-20 |
| PARMCOS-B | Quarterly Results | 18-Nov-20 | ANSINDUS | A.G.M.;General | 23-Nov-20 |
| UNIWSEC | Quarterly Results | 18-Nov-20 | RAYALEMA | A.G.M.;General;Preferential Issue | 23-Nov-20 |
| BAJAJHCARE | Interim Dividend | 19-Nov-20 | LOYAL | A.G.M.;General | 24-Nov-20 |
| CHADPAP | Audited Results | 19-Nov-20 | MAHIP | Half Yearly Results | 25-Nov-20 |
| GNRL | General | 19-Nov-20 | TRIL | Quarterly Results | 27-Nov-20 |
| JIYAECO | Quarterly Results | 19-Nov-20 | BENARA | Quarterly Results | 30-Nov-20 |
| JMTAUTOLTD | Quarterly Results | 19-Nov-20 | VKAL | Quarterly Results | 30-Nov-20 |
| MIDEASTP | A.G.M.;General | 19-Nov-20 | ADORWELD | Quarterly Results | 2-Dec-20 |
| MLKFOOD | Quarterly Results | 19-Nov-20 | ECORECO | Quarterly Results | 10-Dec-20 |
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CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| ASMTEC | 18-Nov-20 | Interim Dividend – Rs. – 2.00 | PNBGILTS | 18-Nov-20 | Interim Dividend – Rs. – 3.00 |
| CARERATING | 18-Nov-20 | Interim Dividend – Rs. – 8.00 | SAKSOFT | 18-Nov-20 | Interim Dividend – Rs. – 2.50 |
| CONCOR | 18-Nov-20 | Interim Dividend – Rs. – 3.00 | SINGER | 18-Nov-20 | Interim Dividend – Rs. – 0.50 |
| KSCL | 18-Nov-20 | Interim Dividend – Rs. – 4.00 | SONATSOFTW | 18-Nov-20 | Interim Dividend – Rs. – 4.00 |
| LALPATHLAB | 18-Nov-20 | Interim Dividend – Rs. – 6.00 | 7TEC | 19-Nov-20 | Interim Dividend – Rs. – 1.00 |
| MANAPPURAM | 18-Nov-20 | Interim Dividend – Rs. – 0.60 | AARTIIND | 19-Nov-20 | Interim Dividend – Rs. – 1.50 |
| MRF | 18-Nov-20 | Interim Dividend – Rs. – 3.00 | AMRUTANJAN | 19-Nov-20 | Interim Dividend – Rs. – 0.80 |
| PGHL | 18-Nov-20 | Final Dividend – Rs. – 42.00 | ASAHISONG | 19-Nov-20 | Buy Back of Shares |
| PGHL | 18-Nov-20 | Special Dividend – Rs. – 188.00 | AUSOMENT | 19-Nov-20 | Interim Dividend – Rs. – 0.50 |
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
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