OutlookNIFTY:

The Nifty opened at 12839.50 with a gap down of 99 points. The index first rallied and filled the down gap completely. However, prices have found resistance around 12950 intraday till afternoon. Around 12:30 PM, prices started drifting downwards and continued that for the rest of the day. Prices have seen a sharp intraday fall of more than 200 points and finally closed at 12771.70 down by 166.55 points. Banks and Financials have led the decline while the FMCG sector has outperformed.

It was quite a choppy session. The market saw a high of 12962 and then a low of 12760. This was a range of almost 200 points. We have explained many times in these columns that we should stay away from the market when wide range price bars are made. Yesterday’s price range bar was very wide. We should wait for some stability to come in.

The long term trend remains up. While the market did fall rather dramatically, it is still 12750 +.

BANK NIFTY:

Bank Nifty opened at 29302.60 with a gap down of 436 points. The index first moved up and filled the down gap partially. However, the up move did not last long and prices have seen a sharp and sudden down move for the whole day. Prices have finally closed near its day low at 28903 with a loss of about 850 points. PSU and Private Banks both have participated in the decline and closed lower by 3.10% and 2.62% respectively. Within the index, in terms of points, ICICI Bank contributed highest on the downside followed by HDFC Bank. A gap down and then a sharp intraday decline erased the gains from last couple of days. Prices have closed below 29000 giving us the first sign of a likely consolidation.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
TITAN 1292.45 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1265 and for the target 1360.
GODREJCONS 684.90 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 673 and for the target 710.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
JSWSTEEL 335 PE BUY 10.35 CMP 8 15 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
TATACHEM.Nov 26 355 8.02 38.95 6236000 LICHSGFIN.Nov 26 326.95 -0.46 18.7 13330000
MRF.Nov 26 76400 1.81 17.84 38320 SRTRANSFIN.Nov 26 909.2 -2.04 15.67 4293479
BAJAJFINSV.Nov 26 7828.05 0.29 15.67 1098875 COFORGE.Nov 26 2317.55 -0.4 13.82 636375
POWERGRID.Nov 26 190.55 2.45 13.66 15508000 DLF.Nov 26 184.45 -3.48 12.05 33105600
TITAN.Nov 26 1294.7 0.74 11.66 6016500 INDUSINDBK.Nov 26 810.25 -2.21 11.67 20776000
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
MGL.Nov 26 921 1.36 -10.37 1499400 RBLBANK.Nov 26 212.1 -4.24 -9.53 20948200
BHEL.Nov 26 29.15 2.28 -8.55 56616000 PNB.Nov 26 29.8 -3.4 -7.61 57484000
VOLTAS.Nov 26 774.55 0.15 -1.3 3191000 BANKBARODA.Nov 26 47.8 -3.82 -5.51 56079800
BHARATFORG.Nov 26 508.7 1.39 -0.89 6196500 IDEA.Nov 26 9.2 -0.54 -4.45 357840000
BATAINDIA.Nov 26 1494.5 3.99 -0.6 1364550 TATASTEEL.Nov 26 522.6 -0.16 -2.95 34204000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Godrej Cons Products Ltd 684.9 0.23 2013582 749388 63.8 Nifty Fmcg 31085.2 0.43 82323
Infosys Limited 1096.75 -1.24 10092343 6252183 63.54 Nifty Media 1478.65 0.26 82323
Icici Lombard General In 1296.45 -1.13 903121 477982 62.09 Nifty Energy 15951.55 0.25 82323
Hindustan Unilever Ltd 2130.75 -0.06 2704650 2015940 60.81 Nifty Pharma 11566.6 -0.4 82323
Upl Limited 416.5 -2.3 6331928 2628986 59.54 Nifty Auto 8628.3 -0.67 82323
Hdfc Ltd. 2324.6 -1.7 6936896 2531428 58.27 Nifty Metal 2752.65 -0.72 82323
Icici Prudential Life In 441.3 -3.02 1742869 1233524 57.99 Nifty it 21114.45 -0.94 82323
Nestleind 16934.15 0.36 180222 81272 56.19 Nifty 50 12771.7 -1.29 82323
Petronet Lng Limited 253.85 -1.68 6309750 2874316 56.14 Nifty Realty 250 -1.36 82323
Power Grid Corporation o 189.8 2.37 36468221 5120756 54.56 Nifty Bank 28903.05 -2.85 82323

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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: Manufacturing PMI (Nov) on 23rd November, 2020

NEWS UPDATES

• Titan saw good traction across all its businesses in the festive season. The jewellery business witnessed mid-teens growth (around 15%) for the 30-day festive season starting from Dussehra till Diwali over the corresponding period last year, with a decent recovery in studded jewellery sales. Besides, Titan said the watches and wearables business did quite well in the festive season with recovery close to last year levels. “Eyewear business, too, has witnessed a good traction.

•A consortium backed by Oaktree Capital has offered to provide at least $2 billion of funding to Vodafone Group Plc’s listed Indian arm, people with knowledge of the matter said. Oaktree teamed up with several other firms including Varde Partners for the potential deal with Vodafone Idea Ltd., according to the people. The investor group made a proposal to provide around $2 billion to $2.5 billion of capital to Vodafone Idea, the people said, asking not to be identified because the information is private.

•Petroleum and natural gas minister Dharmendra Pradhan on Thursday said Indian firms are likely spend ₹10,000 crore over three years on 1,000 liquefied natural gas (LNG) terminals along main roads, industrial hubs and in mining areas of the country to cut the fossil fuel consumption.

•Larsen and Toubro (L&T) on Thursday said it has bagged an order worth over Rs 7,000 crore to construct a part of the Mumbai-Ahmedabad High Speed Rail (MAHSR), also known as the Bullet Train Project.

•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
ASL General 20-Nov-20 PAZEL Quarterly Results 21-Nov-20
EMAMIPAP General 20-Nov-20 PSB Preferential Issue of shares;General 21-Nov-20
IIFLSEC Buy Back of Shares 20-Nov-20 AGIIL Preferential Issue of shares 23-Nov-20
JMDVL General 20-Nov-20 AIIL Right Issue of Equity Shares 23-Nov-20
JUMPNET Quarterly Results;General 20-Nov-20 ANSINDUS A.G.M.;General 23-Nov-20
LEX General 20-Nov-20 PARMCOS-B A.G.M.;General 23-Nov-20
PRIMECAPM General 20-Nov-20 PROSEED A.G.M.;General 23-Nov-20
PSITINFRA General 20-Nov-20 RAYALEMA Preferential Issue ;A.G.M.;General 23-Nov-20
VBIND Quarterly Results 20-Nov-20 SKL Half Yearly Results 23-Nov-20
OPTOCIRCUI Quarterly Results 21-Nov-20 CORNE Quarterly Results;General 24-Nov-20
PAOS A.G.M.;General 21-Nov-20 INDINFR General 24-Nov-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
AXTEL 20-Nov-20 Interim Dividend – Rs. – 3.00 GPPL 24-Nov-20 Interim Dividend – Rs. – 2.10
EPL 20-Nov-20 Interim Dividend – Rs. – 2.0500 INDAG 24-Nov-20 Interim Dividend – Rs. – 0.90
GABRIEL 20-Nov-20 Interim Dividend – Rs. – 0.20 MAYURUNIQ 24-Nov-20 Buy Back of Shares
NMDC 20-Nov-20 Buy Back of Shares NATCOPHARM 24-Nov-20 Interim Dividend – Rs. – 3.00
SRHHYPOLTD 20-Nov-20 Final Dividend – Rs. – 2.50 SAHYADRI 24-Nov-20 Interim Dividend – Rs. – 1.50
AUROPHARMA 23-Nov-20 Interim Dividend – Rs. – 1.2500 TECHNOE 24-Nov-20 Interim Dividend – Rs. – 3.00
PETRONET 23-Nov-20 Interim Dividend – Rs. – 8.00 TOWERINFRA 24-Nov-20 Income Distribution (InvIT)
PRECWIRE 23-Nov-20 Interim Dividend – Rs. – 1.00 VALIANTORG 24-Nov-20 Interim Dividend – Rs. – 5.00
TIDEWATER 23-Nov-20 Interim Dividend – Rs. – 100.00 GOCLCORP 25-Nov-20 Interim Dividend – Rs. – 4.00

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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