Outlook-2019-11-19

NIFTY:

The markets today continued their process of consolidating inside the trading range that has been going on for 12 working days now. This is almost 3 weeks. Now it is nobody’s guess if this trading range is a consolidation which will lead to another breakout , or is a process of distribution which will eventually take the NIFTY down to lower levels. The market trend is up; therefore we can assume that this is a consolidation.

What should traders do: we feel that 11700 could act as significant support. Therefore we do not suggest going short till the support is broken if at all. Traders then should look to buy dips. They should also consider taking profits on any rallies that comes about.

VIEW:

Sell on a rally towards 11960 with a stop just above 12000.

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

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
     TATASTEEL 410.05 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  404 and for the target of  420-423.
     LT 1364.50 SELL The immediate trend of the stock is weak . The stock can be sell with a stop loss of  1375 and for  the target of  1330.

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
HDFC 2240 CE BUY 32.45 CMP 25 40-45 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
IDEA.Nov 28 4.55 22.97 17.76 744716000 SIEMENS.Nov 28 1555.2 -1.16 20.82 2329800
GLENMARK.Nov 28 366.3 21.57 17.49 8700000 CONCOR.Nov 28 570.05 -0.5 14.47 7260135
CESC.Nov 28 764.3 1.07 13.58 1084000 ICICIPRULI.Nov 28 519.8 -0.26 5.42 7560000
CHOLAFIN.Nov 28 329.4 0.95 9.76 5202500 ONGC.Nov 28 133.9 -1.47 5.28 20025000
VOLTAS.Nov 28 715 0.07 8.01 2993000 HEROMOTOCO.Nov 28 2513 -1.44 4.88 3642400
                                                                        Short Covering                                                                            Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
JUSTDIAL.Nov 28 535 5.89 -8.83 3109400 SRF.Nov 28 3206.05 -0.51 -4.21 905250
RBLBANK.Nov 28 322.5 1.27 -4.37 12433200 BALKRISIND.Nov 28 848.9 -1.28 -3.07 1820000
SAIL.Nov 28 37.45 2.6 -2.91 82056000 DIVISLAB.Nov 28 1735 -0.92 -1.92 2391200
EXIDEIND.Nov 28 190.5 0.63 -2.7 9943200 PIDILITIND.Nov 28 1307 -1.07 -1.06 3457500
MGL.Nov 28 1033.4 2.77 -2.67 2344200 UBL.Nov 28 1244.95 -0.13 -0.2 1746500

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Power Grid Corporation o 190.65 1.6 6618623 8436743 82.16 INDIA VIX 15.76 4.82 86508
MARICO LIMITED 355.3 -0.29 1243758 1762158 76.82 Nifty Metal 2539.65 1.63 86511
ITC Ltd. 250.75 0.04 7864919 12029502 71.85 Nifty Pharma 7816.55 1.24 86511
HCL Technologies Ltd. 1141.1 -0.11 1242157 1052656 68.76 Nifty Media 1815.7 0.82 86511
ICICI PRUDENTIAL LIFE IN 520.65 -0.34 1873461 1208353 64.19 Nifty Energy 15883.2 0.17 86511
HDFC Ltd. 2236.3 0.55 2249585 2147793 64.18 Nifty Bank 30992.1 -0.05 86511
TECH MAHINDRA LIMITED 751.8 -0.02 2216434 1134715 63.49 Nifty 50 11884.5 -0.09 86511
Infosys Limited 705.2 0.18 7490916 4660400 63.3 Nifty IT 15295.25 -0.1 86511
Bosch Limited 15048.85 0 11422 13438 57.85 Nifty FMCG 31165.25 -0.4 86511
CONTAINER CORP OF INDIA 569.15 -0.27 1941042 586393 57.17 Nifty Auto 8119 -0.43 86511

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR:  M3 Money Supply on 20h November 2019

•INR:  Bank Loan Growth  on 22th November 2019

•USA:   Building Permits (Oct)  on 19th November 2019

•USA:   Crude Oil Inventories  on 20th November 2019

NEWS UPDATES

•The government is aiming to complete the sale of state-run companies Air India and Bharat Petroleum Corporation (BPCL) by March. The privatisation of the national carrier and oil refiner is expected to help the government meet its divestment target of Rs 1 lakh crore in the current fiscal year. This is the government’s second attempt to sell their stake in Air India. In 2018, the government put up 76 percent of Air India for sale, which saw a weak demand from investors.

•Vodafone Idea’s estimated AGR-related dues of Rs 44,200 crore could rise sharply, entailing additional provisioning and stretching its balance sheet further, if the methodology adopted by the telecom department to compute such liabilities is different.

•LIC Housing Finance Ltd has set a target of disbursing Rs 55,000 crore worth loans during the current financial year. LIC Housing Finance Ltd., Managing Director and CEO Siddhartha Mohanty said the company disbursed Rs 48,000 crore worth loans during the last financial year.

•The promoters of Sterling and Wilson Solar stand by the company’s repayment commitments and a delay does not mean dishonoring that pledge, said Shapoorji Pallonji Group chairman Shapoor Mistry. The promoters were scheduled to pay Rs 2,563 crore to Sterling and Wilson Solar by November 18. Of this, Rs 2,335 crore was the principal and the remaining was interest..

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
CPML Half Yearly Results 19-Nov-19 INDSUCR Quarterly Results 21-Nov-19
IL&FSENGG Audited Results 19-Nov-19 JBFIND Quarterly Results 21-Nov-19
INDSILHYD General 19-Nov-19 JCTLTD Quarterly Results 21-Nov-19
MELSTAR Quarterly Results 19-Nov-19 KHAITANLTD Quarterly Results 21-Nov-19
SIEMENS Audited Results;Dividend 19-Nov-19 KWALITY Quarterly Results 21-Nov-19
AIML Quarterly Results 20-Nov-19 MOHITE Quarterly Results 21-Nov-19
ANSALHSG Quarterly Results 20-Nov-19 MUDRA Quarterly Results 21-Nov-19
ANUPMAL Voluntary Delisting of Shares 20-Nov-19 OPTOCIRCUI Quarterly Results 21-Nov-19
SPENTEX Quarterly Results 20-Nov-19 PREMPIPES Quarterly Results 21-Nov-19
STDSHOE Quarterly Results 20-Nov-19 REDINGTON Interim Dividend 21-Nov-19
TCFCFINQ Quarterly Results 20-Nov-19 SHRIBCL Quarterly Results 21-Nov-19
AUSTENG General 21-Nov-19 TECHNOFAB Quarterly Results 21-Nov-19
CPML Half Yearly Results 19-Nov-19 INDSUCR Quarterly Results 21-Nov-19

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
AMBER 19-Nov-19 Interim Dividend – Rs. – 1.60 INDTONER 20-Nov-19 Interim Dividend – Rs. – 3.00
CARERATING 19-Nov-19 Interim Dividend – Rs. – 8.00 INGERRAND 20-Nov-19 Interim Dividend – Rs. – 3.00
ESSELPRO 19-Nov-19 Interim Dividend – Rs. – 1.25 LALPATHLAB 20-Nov-19 Interim Dividend – Rs. – 6.00
INDOSTAR 19-Nov-19 Interim Dividend – Rs. – 1.00 MANAKSIA 20-Nov-19 Interim Dividend – Rs. – 3.00
MANAPPURAM 19-Nov-19 Interim Dividend – Rs. – 0.55 NAVNETEDUL 20-Nov-19 Interim Dividend – Rs. – 2.50
PGHH 19-Nov-19 Final Dividend – Rs. – 48.00 NILKAMAL 20-Nov-19 Interim Dividend – Rs. – 5.00
ADFFOODS 20-Nov-19 Interim Dividend – Rs. – 1.50 VALIANTORG 20-Nov-19 Interim Dividend – Rs. – 5.00
BHARATFORG 20-Nov-19 Interim Dividend – Rs. – 1.50 AMARAJABAT 21-Nov-19 Interim Dividend – Rs. – 6.00
CONART 20-Nov-19 Interim Dividend – Rs. – 1.00 ATULAUTO 21-Nov-19 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


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