2020-12-01-OUTLOOKNIFTY:

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:

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

Elite-Empower-App-Promotional-Banner-img1

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
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


Elite-Kuber-Mutual-Fund-Promotional-Banner-img

DERIVATIVE PICKS

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
Sector Price Price% OI% OI Sector Price Price% OI% OI

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
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

Market-Research-Promotional-Banner-img5

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
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

NEWS UPDATES

•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

Open Your Demat Account to Invest in Upcoming IPO’sDemat-and-Trading-Account-Promotion-Banner

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
EASTWEST Quarterly Results 01-Dec-20 AMFL A.G.M. 02-Dec-20
EMCO Audited Results 01-Dec-20 BMAL Half Yearly Results 02-Dec-20
INDIANVSH Quarterly Results 01-Dec-20 DOLPHMED A.G.M.;General 02-Dec-20
KLKELEC General 01-Dec-20 DRHABEEB A.G.M. 02-Dec-20
LOYAL A.G.M.;General 01-Dec-20 ENCASH A.G.M.;General 02-Dec-20
NILACHAL A.G.M. 01-Dec-20 HIKLASS A.G.M. 02-Dec-20
TOYAMIND General 01-Dec-20 ICLORGANIC Half Yearly Results;General 02-Dec-20
WELCON General 01-Dec-20 MESCON Audited Results 02-Dec-20
ADITRI General 02-Dec-20 MHEL Half Yearly Results 02-Dec-20
ADORWELD Quarterly Results 02-Dec-20 PRIMEFRESH General 02-Dec-20
ALICON In. in Auth. Capital;Preferential Issue 02-Dec-20 TANVI A.G.M.;General 02-Dec-20

CORPORATE ACTION

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