The Nifty opened at 13012.05 without much of a gap. Prices have traded in narrow range of just 121 points as the day high was at 13035.30 and the low was at 12914.30. Prices have moved very randomly within these levels and finally closed at 12968.95 down by 18.05 points. Realty and Auto sectors lead the Bulls while IT was the only sector that closed with loss.
We gave a trade which was to be taken. The trade was to buy a Nifty call option after the first 15 minutes of trading. The option was for the strike price 13000 and expiring on December 3. The price of this option after the first 15 minutes was around Rupees 120. We assume that traders are long through this call option. We expect a target of 13300 for the Nifty in the next few days. If the market closes below 12800 sell the option and take the loss.
The long term trend remains up. Long term momentum is also in the strength area and has not shown any signs of falling. This seems reasonable because all said and done the Nifty is almost at 13000 which is a fairly elevated level. Traders should look to buy on dips.
Bank Nifty opened at 29622 without much of a gap. Prices have traded very random within a narrow range and closed at 29609.
PSU Banks have outperformed and closed higher by 1.26% while Private Banks also closed higher by 0.50%. Within the index, in terms of points, HDFC Bank contributed highest while Axis Bank the lowest. It was a choppy day in the index where prices have traded range bound and have had the narrowest trading range in the last 7 days.
Intraday traders can look to buy the index above 29750 or sell short below 29350.
Trade AnyTime AnyWhere With Elite Empower Mobile App
|LICHSGFIN||329||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 318 and for the target 345-355|
|FEDERAL BANK||62.80||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 59 and for the target 67.|
Get All Your Mutual Fund Portfolio Retuns on Your Mobile by Elite Kuber App
|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|MFSL||640 CE||BUY||39.25||CMP||30||53||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|ASIANPAINT.Dec 31||2198||1.93||8882.52||5551200||HCLTECH.Dec 31||827.05||-1.85||7652.2||21000700|
|MARUTI.Dec 31||7015.05||0.44||8862.81||3253500||SHREECEM.Dec 31||24027.5||-1.59||7416.28||161600|
|ZEEL.Dec 31||192.3||1.34||6886.63||36051000||HINDUNILVR.Dec 31||2150.3||-0.15||7198.56||7597800|
|AUROPHARMA.Dec 31||872.3||0.29||6447.48||11831300||DRREDDY.Dec 31||4855||-0.79||6678.41||3728125|
|ADANIPORTS.Dec 31||413||0.69||6332.74||54035000||BRITANNIA.Dec 31||3541||-0.35||6505.42||2193000|
|Short Covering||Long Unwinding|
TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|United Spirits Limited||548.4||-1.54||4642422||1681248||67.5||Nifty Realty||261.2||2.65||79566|
|Power Grid Corporation o||192.4||-2.66||26321546||9225833||65.92||Nifty Media||1503.15||1.48||79566|
|Hindustan Unilever Ltd||2138.2||-0.74||5687861||909836||55.79||Nifty Auto||8891.6||1.41||79566|
|National Alum Co Ltd||39.2||3.98||60014452||14508291||54.72||Nifty Pharma||11839.15||0.32||79566|
|Torrent Pharma Ltd.||2615.1||-0.02||661988||222818||54.34||Nifty Bank||29609.05||0.2||79566|
|Kotak Mahindra Bank Limi||1907.1||0.95||78702124||3685037||53.68||Nifty Fmcg||31718.8||0.06||79566|
|Infosys Limited||1100||-1.19||25306145||5794530||52.86||Nifty Metal||2925.75||0.02||79566|
|Godrej Cons Products Ltd||699.75||-0.19||3483741||555786||52.23||Nifty 50||12968.95||-0.14||79566|
|Sbi Life Insurance Compa||846.05||-0.64||2310173||932211||52.02||Nifty it||21764.9||-0.43||79566|
|Ultratech Cement Limited||4802||-0.67||920840||246066||50.56||Nifty Energy||16251.85||-0.58||79566|
Get Stock Market Recommendation By Our Research Analysts
UPCOMING ECONOMIC DATA
|INR: Nikkei Markit Manufacturing PMI (Nov) on 1st December, 2020
INR: Nikkei Services PMI (Nov) on 3rd December, 2020
|•USD: ISM Manufacturing PMI (Nov) on 1st December, 2020
•USD: Crude Oil Inventories on 2nd December, 2020
|•A panel of OPEC+ ministers couldn’t reach an agreement on whether to delay January’s oil-output increase, leaving the matter unresolved before a full meeting of the cartel and its allies on Monday. Most participants in an informal online discussion on Sunday evening supported maintaining the production curbs at current levels into the first quarter.
•The Reserve Bank of India (RBI) is likely to keep interest rates unchanged and reiterate its accommodative stance in this week’s monetary policy review, buoyed by good news on the economic front, said investors and traders. But it could also cite concerns about inflation, which has stubbornly remained above the prescribed target range. The monetary policy committee (MPC) is scheduled to meet on December 2-4.
•Glenmark Pharmaceuticals Ltd has agreed to divest some of its anti-allergy medicine brands in Russia, Ukraine, Kazakhstan, and Uzbekistan to Dr Reddy’s Laboratories Ltd for an undisclosed amount, the two companies said in a statement late on Saturday.
•Independent economists and experts have bumped up their gross domestic product (GDP) estimates for the year ending March following lower-than-expected contraction in the September quarter. The decline in FY21 GDP is expected to be less than the double-digit shrinkage forecast earlier. Covid is a significant threat but vaccine prospects have buoyed sentiment.
•Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|EMCO||Audited Results||01-Dec-20||BMAL||Half Yearly Results||02-Dec-20|
|TOYAMIND||General||01-Dec-20||ICLORGANIC||Half Yearly Results;General||02-Dec-20|
|ADITRI||General||02-Dec-20||MHEL||Half Yearly Results||02-Dec-20|
|ALICON||In. in Auth. Capital;Preferential Issue||02-Dec-20||TANVI||A.G.M.;General||02-Dec-20|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|63MOONS||01-Dec-20||Dividend – Rs. – 2.00||DEEP||03-Dec-20||E.G.M.|
|BAJAJHCARE||01-Dec-20||Interim Dividend – Rs. – 1.2500||GENCON||03-Dec-20||Final Dividend – Rs. – 0.0500|
|BAJAJHCARE||01-Dec-20||Special Dividend – Rs. – 0.50||GICHSGFIN||03-Dec-20||Final Dividend – Rs. – 2.00|
|INDINFR||01-Dec-20||Income Distribution (InvIT)||GIPCL||03-Dec-20||Final Dividend – Rs. – 2.90|
|JUMPNET||01-Dec-20||Dividend – Rs. – 0.20||JBMA||03-Dec-20||Final Dividend – Rs. – 1.7500|
|NATIONALUM||01-Dec-20||Interim Dividend – Rs. – 0.50||KANCHI||03-Dec-20||Buy Back of Shares|
|SAKUMA||01-Dec-20||Final Dividend – Rs. – 0.10||OAL||03-Dec-20||Interim Dividend – Rs. – 2.50|
|SHISHIND||01-Dec-20||Bonus issue 6:5||KSE||07-Dec-20||Final Dividend – Rs. – 20.00|
|VLSFINANCE||02-Dec-20||Dividend – Rs. – 1.50||MULTIIN||08-Dec-20||Final Dividend – Rs. – 0.20|
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
For Daily Share Market Updates, Daily debt market review, Market Research Analysis reports, Weekly Techno-Funda Report, Fundamental Analysis Report, Monthly Recommended stock Picks, Equity Trading Tips, Upcoming IPO/NFO/Bonds/Ncd’s updates & other related information Subscribe our research plan