OutlookNIFTY:

The Nifty opened at 12860.10 with a minor gap down of just 14 points. Prices have moved up for the first few minutes of trading and then saw a sharp decline. The index saw its intraday low at 12819.35 and then saw a brief consolidation there. Around 1:00 PM prices broke out and then moved almost 100 points to finally close at 12938.25 up by 64.05 points or 0.50%. Banks and Financials have outperformed and led the gains followed by Auto and Realty sectors.

The stock market continues to roll ahead. The Nifty cross 12900 effortlessly. The markets are in a very strong momentum and appear to be ready to cross 13000. We can look to buy at the high of the first 15 minutes with a stop which should be 70 points below our entry price. It is also options expiry day and we could see some volatility.

BANK NIFTY:

Bank Nifty opened at 29107.90 with a gap down of 109 points. The gap down did not last long and quickly prices moved up. The rally continued for the whole day and the index finally closed at 29749 with a gain of more than 500 points. PSU banks have outperformed and closed higher by 3.57%. Private Banks also moved up and closed higher by 1.96%. Within the index, in terms of points, SBI Contributed highest followed by ICICI Bank.

The index continued to move up and outperforming the whole markets. The trend is up and we should be only on the long side of the market. We should use intraday dips and small range breakouts to enter or add into the long side.

Intraday traders can look to buy on a dip towards 29500 or on a breakout above 29800.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
EICHERMOTORS 2614.15 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 2580 and for the target 2670.
INDUSIND BANK 828.30 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 810 and for the target 860.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
BATAINDIA 1440 CE BUY 36.95 CMP 25 50 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
MFSL.Nov 26 623.9 1.46 61.33 4626700 WIPRO.Nov 26 346.9 -0.94 15.78 29228800
BATAINDIA.Nov 26 1448 4.79 33.51 1494350 BOSCHLTD.Nov 26 11504.3 -1.34 14.32 222750
FEDERALBNK.Nov 26 62.1 6.52 13.96 1.24E+08 TORNTPOWER.Nov 26 306.1 -0.75 9.8 2823000
ASHOKLEY.Nov 26 95.2 3.42 13.95 31977000 BPCL.Nov 26 384.75 -2.74 8.94 21524400
L&TFH.Nov 26 74.6 5.44 12.75 37209600 INFY.Nov 26 1115.6 -1.07 8.39 36631200
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
MUTHOOTFIN.Nov 26 1179 0.85 -5.16 4013250 TATASTEEL.Nov 26 521.95 -0.5 -5.7 35887000
GODREJPROP.Nov 26 1069.85 3.33 -4.23 1370200 SAIL.Nov 26 40.05 -0.74 -3.21 48051000
LICHSGFIN.Nov 26 330.5 5.09 -3.1 11984000 EXIDEIND.Nov 26 170.8 -0.09 -2.49 14108400
CANBK.Nov 26 94.15 1.95 -3.01 16115000 APOLLOHOSP.Nov 26 2293.5 -0.55 -2.12 1781500
BHEL.Nov 26 28.5 0.53 -2.47 62139000 ACC.Nov 26 1689 -0.52 -1.72 1975500

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Upl Limited 426.3 -0.78 4415523 3867021 65.22 Nifty Auto 8686.6 3.1 80508
Hindustan Unilever Ltd 2132.1 -2.09 3315051 1741900 63.72 Nifty Realty 253.45 2.05 80508
Hdfc Ltd. 2364.9 0.68 4344487 4613099 62.4 Nifty Bank 29749.85 1.95 80508
Max Financial Services l 619.3 0.99 3489685 1049627 62.23 Nifty Media 1474.85 0.54 80508
Mah & Mah Ltd. 705.75 10.75 32986476 3784199 61.3 Nifty 50 12938.25 0.5 80508
Power Grid Corporation o 185.4 -0.75 9385741 5767063 60.76 Nifty Metal 2772.5 0.4 80508
Infosys Limited 1110.55 -1.17 9839468 7463366 58.24 Nifty Energy 15911.1 -0.09 80508
United Spirits Limited 563.75 0.62 1248153 1445607 56.68 Nifty Pharma 11612.95 -0.67 80508
Kotak Mahindra Bank Limi 1830.6 1.89 6175248 3140690 53.9 Nifty it 21314.85 -0.81 80508
Petronet Lng Limited 258.2 -0.44 5119711 2567631 53.83 Nifty Fmcg 30952.85 -1.08 80508

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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: Initial Jobless Claims on 19th November, 2020

•USD: Existing Home Sales (Oct)on 19th November, 2020

NEWS UPDATES

• RBI-appointed administrator for Lakshmi Vilas Bank T.N. Manoharan on Wednesday said the bank has enough liquidity to pay back depositors. Confident of timely merger of Lakshmi Vilas Bank with DBS India: RBI-appointed administrator. Manoharan says Lakshmi Vilas Bank has ₹20,000 crore in deposits and ₹17,000 crore in advances.

•Vedanta Group on Wednesday confirmed putting in a preliminary expression of interest (EoI) for buying government’s nearly 53% stake in privatisation-bound Bharat Petroleum Corp Ltd (BPCL).

•Emami announced its entry into the homecare segment with a range of hygiene products under the “Emasol” brand on Wednesday. Since the Covid-19 pandemic, fast moving consumer goods (FMCG) companies have been ramping up launches in the health and hygiene space to cash in on the steep demand for such products.

•Larsen & Toubro today said that its construction and mining equipment business has secured one of its biggest orders ever to supply 46 units of Komatsu mining equipment to Tata Steel. The scope of work includes supply of equipment and full maintenance contract for 60,000 hours of equipment operation. The order comprises 41 units of Komatsu HD785-7 (100 ton dump truck), three units of Komatsu WA900-3E0 (9 cum wheel loader) and two units of Komatsu D275A-5R (410HP crawler dozer).

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
ARTEMISELC General;Preferential Issue of shares 19-Nov-20 ASL General 20-Nov-20
BAJAJHCARE Interim Dividend 19-Nov-20 EMAMIPAP General 20-Nov-20
CHADPAP Audited Results 19-Nov-20 IIFLSEC Buy Back of Shares 20-Nov-20
GNRL General 19-Nov-20 JMDVL General 20-Nov-20
JIYAECO Quarterly Results 19-Nov-20 JUMPNET General;Quarterly Results 20-Nov-20
JMTAUTOLTD Quarterly Results 19-Nov-20 LEX General 20-Nov-20
KANCHI Buy Back of Shares;General 19-Nov-20 PRIMECAPM General 20-Nov-20
MIDEASTP A.G.M.;General 19-Nov-20 PSITINFRA General 20-Nov-20
MLKFOOD Quarterly Results 19-Nov-20 VBIND Quarterly Results 20-Nov-20
PRICOLLTD Rights Issue 19-Nov-20 OPTOCIRCUI Quarterly Results 21-Nov-20
ROLLT Quarterly Results 19-Nov-20 PAZEL Quarterly Results 21-Nov-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
7TEC 19-Nov-20 Interim Dividend – Rs. – 1.00 HGS 19-Nov-20 Interim Dividend – Rs. – 6.00
AARTIIND 19-Nov-20 Interim Dividend – Rs. – 1.50 INSECTICID 19-Nov-20 Interim Dividend – Rs. – 2.00
AMRUTANJAN 19-Nov-20 Interim Dividend – Rs. – 0.80 JLMORI 19-Nov-20 Dividend – Rs. – 1.00
ASAHISONG 19-Nov-20 Buy Back of Shares MAANALU 19-Nov-20 Interim Dividend – Rs. – 1.00
AUSOMENT 19-Nov-20 Interim Dividend – Rs. – 0.50 MEERA 19-Nov-20 Interim Dividend – Rs. – 0.50
CAMS 19-Nov-20 Interim Dividend – Rs. – 6.7500 NCLIND 19-Nov-20 Interim Dividend – Rs. – 1.50
COALINDIA 19-Nov-20 Interim Dividend – Rs. – 7.50 PAGEIND 19-Nov-20 Interim Dividend – Rs. – 100.00
CUPID 19-Nov-20 Interim Dividend – Rs. – 1.00 POLYPLEX 19-Nov-20 Interim Dividend – Rs. – 15.00
GOLDIAM 19-Nov-20 Interim Dividend – Rs. – 3.00 PTC 19-Nov-20 Interim Dividend – Rs. – 2.00

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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