NIFTY:
In this column we have been consistently explaining our inclination to buy on dips and to avoid going short. This does not mean that the markets will or cannot go down. They can go down and as we have seen they do go down. But the easy and comfortable money is made on the long side of the market, because we are in a long – term bull market.
From the past 15 days the NIFTY has been trading in a narrow range. We have suggested that a downside break down from this range should be watched and we should become buyer on a dip to 11700. Today’s the market combined all the positive factors to give a study up move. An early morning dip found support in the 11900 area. While the market rallied from that point, there was a reasonable amount of choppiness but the uptrend was clear and visible. If the NIFTY crosses 11950 there is a buying opportunity with a stop under 11900. it is possible that we may see a target 0f 12050 for this move if it comes about.
VIEW:
Buy on breakout above 11950 with a stop just below 11900.
TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| RECLTD | 142.95 | 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 140.50 and for the target of 147. |
| M&M | 560.65 | SELL | The immediate trend of the stock is weak . The stock can be sell with a stop loss of 568 and for the target of 550-546.. |
DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| RBLBANK | 320 CE | BUY | 15.45 | CMP | 11.50 | 22-25 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| CASTROLIND.Nov 28 | 154.25 | 6.42 | 13.43 | 5140800 | MUTHOOTFIN.Nov 28 | 710.5 | -0.46 | 8.86 | 3501000 | |
| TATAELXSI.Nov 28 | 811.8 | 2.3 | 11.64 | 1030200 | ZEEL.Nov 28 | 286.9 | -2.83 | 7.23 | 32334900 | |
| CANBK.Nov 28 | 221.7 | 4.77 | 7.8 | 14588000 | TORNTPHARM.Nov 28 | 1766.15 | -0.92 | 6.98 | 299000 | |
| BANKNIFTY.Nov 28 | 31259.65 | 0.78 | 6.18 | 1901260 | ULTRACEMCO.Nov 28 | 4115.4 | -0.48 | 4.43 | 2750400 | |
| RBLBANK.Nov 28 | 324.15 | 0.19 | 3.97 | 12571200 | HEROMOTOCO.Nov 28 | 2477.6 | -1.35 | 4.43 | 3713200 | |
| Short Covering | Long unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| POWERGRID.Nov 28 | 195.6 | 2.33 | -11.51 | 31804000 | GLENMARK.Nov 28 | 350.65 | -4.02 | -14.82 | 6133000 | |
| JUSTDIAL.Nov 28 | 560.4 | 6.09 | -9.38 | 2812600 | CHOLAFIN.Nov 28 | 325.9 | -1.27 | -6.31 | 4495000 | |
| BANKINDIA.Nov 28 | 74.55 | 4.27 | -8.29 | 17118000 | JINDALSTEL.Nov 28 | 139.7 | -4.28 | -4.96 | 38544000 | |
| IDEA.Nov 28 | 6.1 | 35.56 | -7.89 | 6.62E+08 | HCLTECH.Nov 28 | 1137.95 | -0.49 | -4.58 | 10592400 | |
| IGL.Nov 28 | 419.2 | 0.14 | -6.47 | 5370750 | MOTHERSUMI.Nov 28 | 134.65 | -0.07 | -4.07 | 27795900 | |
Top Delivery Percentage
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Hindustan Unilever Ltd | 2037.75 | -0.9 | 1413218 | 816669 | 68.02 | Nifty Energy | 16114.45 | 1.46 | 1814191 | |
| HCL Technologies Ltd. | 1134.65 | -0.57 | 1182510 | 838205 | 67.48 | Nifty Bank | 31236.25 | 0.79 | 13554707 | |
| Infosys Limited | 712.85 | 1.08 | 6495885 | 4896848 | 65.37 | Nifty 50 | 11940.1 | 0.47 | 35424903 | |
| TECH MAHINDRA LIMITED | 763.15 | 1.51 | 2725437 | 1431421 | 64.58 | Nifty Pharma | 7851.45 | 0.45 | 53838341 | |
| ICICI PRUDENTIAL LIFE IN | 505.1 | -2.99 | 3448412 | 1209678 | 64.57 | Nifty IT | 15304.85 | 0.06 | 1375346 | |
| HDFC BANK LTD. | 1271.9 | 0.78 | 5285289 | 2914231 | 63.84 | Nifty Media | 1804.85 | -0.6 | 2.33E+08 | |
| HDFC Ltd. | 2212.1 | -1.08 | 2916866 | 1428235 | 63.49 | Nifty FMCG | 30972.95 | -0.62 | 388027 | |
| NESTLEIND | 14117.1 | 0.22 | 44787 | 40614 | 62.5 | Nifty Auto | 8063.95 | -0.68 | 52166413 | |
| NTPC Limited | 117.35 | -0.09 | 7577320 | 2911763 | 61.6 | Nifty Metal | 2517.95 | -0.85 | 1.67E+08 | |
| Power Grid Corporation o | 195.45 | 2.52 | 12498147 | 3978081 | 60.1 | INDIA VIX | 15.41 | -2.22 | 2.71E+08 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| •INR: M3 Money Supply on 20h November 2019
•INR: Bank Loan Growth on 22nd November 2019 |
•USA: Crude Oil Inventories on 20th November 2019
•USA: Existing Home Sales (Oct) on 21st November 2019 |
NEWS UPDATES
1. Rana Kapoor and promoter entities YES Capital and Morgan Credits have sold their remaining 0.8 per cent stake in private lender YES Bank. The promoters sold 2.04 crore shares in the open market during November 13-14. The promoter entities now hold a token of 900 shares in the lender.
2. Oil-telecom-to-retail major Reliance Industries became the first company among listed entities on exchanges to hit a market capitalisation of Rs 9.5 lakh crore. The stock rallied 3.87 percent intraday and crossed Rs 1,500 mark for the first time on November 19, after the rival Vodafone Idea and Bharti Airtel decided to increase prices with effect from December 1.
3. Following the Supreme Court verdict on Essar Steel resolution plan, global steel giant ArcelorMittal said expects to complete the acquisition of the debt-ridden company by the end of this year. The Supreme Court on Friday paved the way for ArcelorMittal takeover of Essar Steel for Rs 42,000 crore and set aside the July 4 National Company Law Appellate Tribunal (NCLAT) order giving equal status to financial creditors and operational creditors.
4. Vodafone Idea share price has risen over 96% in last three days. Hope of receiving a revival package from the government after Q2 loss and announcement of hike in tariff from December 1 led to upbeat sentiment around the stock in last three sessions.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| AIML | Quarterly Results | 20-Nov-19 | JCTLTD | Quarterly Results | 21-Nov-19 |
| ANSALHSG | Quarterly Results | 20-Nov-19 | KHAITANLTD | Quarterly Results | 21-Nov-19 |
| ANUPMAL | Voluntary Delisting of Shares | 20-Nov-19 | KWALITY | Quarterly Results | 21-Nov-19 |
| PRABHAT | General | 20-Nov-19 | MOHITE | Quarterly Results | 21-Nov-19 |
| SPENTEX | Quarterly Results | 20-Nov-19 | MUDRA | Quarterly Results | 21-Nov-19 |
| STDSHOE | Quarterly Results | 20-Nov-19 | NRINTER | Quarterly Results | 21-Nov-19 |
| STERSPN | Increase in Auth. Cap | 20-Nov-19 | OPTOCIRCUI | Quarterly Results | 21-Nov-19 |
| TCFCFINQ | Quarterly Results | 20-Nov-19 | PREMPIPES | Quarterly Results | 21-Nov-19 |
| AMTEKAUTO | Quarterly Results | 21-Nov-19 | REDINGTON | Interim Dividend | 21-Nov-19 |
| AUSTENG | General | 21-Nov-19 | SHRIBCL | Quarterly Results | 21-Nov-19 |
| INDSUCR | Quarterly Results | 21-Nov-19 | TECHNOFAB | Quarterly Results | 21-Nov-19 |
| JBFIND | Quarterly Results | 21-Nov-19 | THIRDFIN | General | 21-Nov-19 |
| AIML | Quarterly Results | 20-Nov-19 | JCTLTD | Quarterly Results | 21-Nov-19 |
Corporate Action
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| 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 |
| INDTONER | 20-Nov-19 | Interim Dividend – Rs. – 3.00 | AUROPHARMA | 21-Nov-19 | Interim Dividend – Rs. – 1.25 |
| INGERRAND | 20-Nov-19 | Interim Dividend – Rs. – 3.00 | BALKRISIND | 21-Nov-19 | Interim Dividend – Rs. – 2.00 |
| LALPATHLAB | 20-Nov-19 | Interim Dividend – Rs. – 6.00 | BALRAMCHIN | 21-Nov-19 | Interim Dividend – Rs. – 2.50 |
| MANAKSIA | 20-Nov-19 | Interim Dividend – Rs. – 3.00 | COCHINSHIP | 21-Nov-19 | Interim Dividend – Rs. – 1.63 |
| NAVNETEDUL | 20-Nov-19 | Interim Dividend – Rs. – 2.50 | CRISIL | 21-Nov-19 | Interim Dividend – Rs. – 7.00 |
| NILKAMAL | 20-Nov-19 | Interim Dividend – Rs. – 5.00 | CUPID | 21-Nov-19 | Interim Dividend – Rs. – 1.00 |
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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