Outlook-2019-11-20

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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