NIFTY:
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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