OutlookNIFTY:

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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