Outlook-2019-11-21

NIFTY:

The NIFTY gained 59 points to close at 11999, almost at the magical number of 12000. But there gains have come at a cost. The index faced heavy resistance once it crossed 12000. A new high in this up leg was made when the index touched 12038. But these higher levels were not sustained and there was a 50 point decline from the intraday highs.

It is quite possible that the NIFTY will remain inside trading range. The fact that it crossed 11950 and then 12000 suggests that the upper end of the range may expand to 12050 or evem 12100. on the lower end support of 11800 is visible and it is possible that this support may rise to 11900, or remains where it is – 11800.

For the bulls a trading range is good news.  This is so because the NIFTY has rallied in two legs – One from 10600 to 11700 and then from 11100 to 12050 today. After such large rallies, it is reasonable to expect the market to pause and consolidate. Normally, markets  will also correct and moved down.

VIEW:

Buy on a breakout above 12050 with a stop just below 12020.

Sell below 11950 with a stop just above 11980.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
     IGL 421.90 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  418 and for the target of  430.
     TATAMOTORS 167.40 SELL The immediate trend of the stock is weak . The stock can be sell with a stop loss of  169.30 and for  the target of  162.50.

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
BPCL 550 CE BUY 19.20 CMP 15 30 OI Increase

 

Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
DISHTV.Nov 28 17.25 14.24 25.36 117096000 TORNTPHARM.Nov 28 1740.35 -1.46 33.28 398500
CONCOR.Nov 28 581 1.86 16.12 8194809 CESC.Nov 28 752.5 -0.38 10.04 1166400
SHREECEM.Nov 28 20400.1 1.91 12.61 171850 IOC.Nov 28 131 -1.61 9.48 34370000
ZEEL.Nov 28 310.15 8.1 12.09 36244000 INFRATEL.Nov 28 241.65 -3.74 8.07 16878000
HINDPETRO.Nov 28 296.6 2.1 11.8 23139900 NIFTYIT.Nov 28 15390 -0.05 7.1 9050
                                                                        Short Covering                                                                            Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
IDEA.Nov 28 7.05 15.57 -7.15 615020000 CASTROLIND.Nov 28 153.35 -0.58 -6.35 4814400
APOLLOHOSP.Nov 28 1421 0.57 -5.48 1819000 CHOLAFIN.Nov 28 319.15 -2.07 -4.62 4287500
MINDTREE.Nov 28 717.25 1.37 -3.89 1229400 BANKINDIA.Nov 28 73.55 -1.34 -3.43 16530000
JUSTDIAL.Nov 28 564 0.64 -3.33 2718800 SBIN.Nov 28 328 -0.8 -1.36 91752000
SAIL.Nov 28 37.85 1.75 -3.13 76200000 DLF.Nov 28 212.25 -1.49 -1.34 31085600

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
BALKRISHNA IND. LTD 840.6 0.71 517114 1520186 77.78 Nifty Pharma 8107.6 3.26 85800
Hindustan Unilever Ltd 2026.5 -0.55 989673 1028850 72.8 Nifty Media 1863.2 3.23 85800
ITC Ltd. 250.7 0.56 9978073 8845459 72.78 Nifty 50 11999.1 0.49 85800
UltraTech Cement Limited 4114.05 0.34 836453 404079 71.91 Nifty FMCG 31089.35 0.38 85800
ICICI PRUDENTIAL LIFE IN 503.3 -0.36 2440249 2417430 70.1 Nifty Bank 31353.85 0.38 85800
HCL Technologies Ltd. 1132.8 -0.16 1112518 827310 69.96 Nifty Metal 2524.9 0.28 85797
Dr. Reddys Lab Ltd 2838.65 3.49 997976 326458 68.45 Nifty Auto 8083.8 0.25 85797
Power Grid Corporation o 196.1 0.33 5398646 8510010 68.09 Nifty IT 15318.5 0.09 85800
HDFC BANK LTD. 1273.35 0.11 5527129 3543343 67.04 Nifty Realty 273.95 -1.47 85800
HDFC Ltd. 2200.95 -0.5 1772677 1952597 66.94 INDIA VIX 15.16 -1.62 85800

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR:  Bank Loan Growth  on 22nd  November 2019

•INR:  FX Reserves , USD on 22nd November 2019

•USA:  Philadelphia Fed Manufacturing Index (Nov) on 21st November 2019

•USA:  Existing Home Sales (Oct) on 21st November 2019

NEWS UPDATES

1. Reliance Industries’ shares have increased at thrice the pace of India’s benchmark index following an announcement by Ambani to cut the company’s net debt to zero in 18 months. He said stake sale in the oil-to-chemicals business to Saudi Aramco would be one of the measures to this end.

2. Steelworkers in Britain and the Netherlands said they would fight Tata Steel’s plans to cut up to 3,000 jobs across its European operations, as the sector wrestles with excess supply, weak demand and high costs.

3. Vodafone Idea, is seeking about Rs 7,000 crore in tax refunds for past years even as it faces fresh statutory dues liability – running into thousands of crore – that has put the income tax department in a bind. The tax department has in past adjusted refunds against a company’s other liabilities towards the government.

4. Yes Bank share price gained over three percent in intraday trade on November 20. The stock had fallen by a similar amount in early trade after the Reserve Bank said the bank had under-reported its bad loans. The management intends to convene board meeting by November-end to finalise its capital raising plans.

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
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
JCTLTD Quarterly Results 21-Nov-19 TIRSARJ General 21-Nov-19
KHAITANLTD Quarterly Results 21-Nov-19 BINANIIND Audited Results 22-Nov-19
KWALITY Quarterly Results 21-Nov-19 HEXATRADEX General 22-Nov-19
MOHITE Quarterly Results 21-Nov-19 INDAGIV Voluntary Delisting of Shares 22-Nov-19
MUDRA Quarterly Results 21-Nov-19 OISL Quarterly Results 22-Nov-19
NRINTER Quarterly Results 21-Nov-19 RAGHUSYN General 22-Nov-19
OPTOCIRCUI Quarterly Results 21-Nov-19 RICOHQ Audited Results 22-Nov-19
PREMPIPES Quarterly Results 21-Nov-19 RMCHEM General 22-Nov-19
AMTEKAUTO Quarterly Results 21-Nov-19 REDINGTON Interim Dividend 21-Nov-19

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
AMARAJABAT 21-Nov-19 Interim Dividend – Rs. – 6.00 IDFC 21-Nov-19 Interim Dividend – Rs. – 0.65
ATULAUTO 21-Nov-19 Interim Dividend – Rs. – 1.50 JBCHEPHARM 21-Nov-19 Buy Back of Shares
AUROPHARMA 21-Nov-19 Interim Dividend – Rs. – 1.25 KSCL 21-Nov-19 Buy Back of Shares
BALKRISIND 21-Nov-19 Interim Dividend – Rs. – 2.00 MASFIN 21-Nov-19 Interim Dividend – Rs. – 2.00
BALRAMCHIN 21-Nov-19 Interim Dividend – Rs. – 2.50 MAYURUNIQ 21-Nov-19 Interim Dividend – Rs. – 1.00
COCHINSHIP 21-Nov-19 Interim Dividend – Rs. – 1.63 MONEYBOXX 21-Nov-19 Bonus issue 1:10
CRISIL 21-Nov-19 Interim Dividend – Rs. – 7.00 MRF 21-Nov-19 Interim Dividend – Rs. – 3.00
CUPID 21-Nov-19 Interim Dividend – Rs. – 1.00 NATCOPHARM 21-Nov-19 Interim Dividend – Rs. – 1.00
HGS 21-Nov-19 Interim Dividend – Rs. – 2.50 NAUKRI 21-Nov-19 Interim Dividend – Rs. – 2.50

 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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