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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