NIFTY:
The Nifty opened at 12813.40 with a gap up of 42 points. Prices have rallied further after the open and then went into a range bound period. The range broken on the downside and the index moved down at 12730.25. Prices did not last long there and started a sharp upside move. The index moved up by 160 points and then again traded range bound in the last hour of trading. Prices have finally closed at 12859.05 up by 87.35 points. Media and Pharma closed lower while all the other sectoral indices closed with gains led by IT, Financials and FMCG.
The market was actually very choppy, although significantly high close does not give the full story of the intraday choppiness. The Nifty opened lower, then moved up, then moved down, then moved up again. The final up move of the index gained significantly. At some point during the day, the Nifty was down a hundred points; therefore the gains in context to the decline was an up move of 185 points. The Bank Nifty remained the outperformer once again.
The market is in a strong uptrend. The choppy market behaviour over the last two days suggests that markets may be entering a period of consolidation and volatility.
BANK NIFTY:
Bank Nifty opened at 28935.75 with a gap up of 98 points. The index first moved down and recorded its intraday low at 28580.90. Prices have then seen a sharp upside move of more than 800 points and finally closed at 29236. PSU and Private banks both have performed also same and closed higher by 1.03% and 0.84% respectively. Within the index, in terms of points, HDFC Bank contributed highest while Axis Bank contributed lowest.
We have been discussing that a process of consolidation is likely to begin here. Likely level of consolidation now visible is 27900 as a support and 29700 as a resistance.
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TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| BHARTI AIRTEL | 483.70 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 475 and for the target 495. |
| MUTHOOTH FIN | 1183.85 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1160 and for the target 1220. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| COFORGE | 2350 CE | BUY | 65 | CMP | 53 | 85 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| BAJAJFINSV.Nov 26 | 8539 | 8.9 | 33.5 | 1098000 | M&MFIN.Nov 26 | 154.75 | -0.74 | 16.4 | 25254852 | |
| ICICIGI.Nov 26 | 1363.25 | 5.3 | 25.79 | 472600 | INDIGO.Nov 26 | 1670 | -0.57 | 14.05 | 3007000 | |
| PETRONET.Nov 26 | 251.25 | 1.84 | 21.94 | 14271000 | TATAPOWER.Nov 26 | 58.15 | -1.86 | 13.45 | 103086000 | |
| INFRATEL.Nov 26 | 218.95 | 17.34 | 18.2 | 15290800 | ICICIBANK.Nov 26 | 478.35 | -0.3 | 13.29 | 128034500 | |
| GAIL.Nov 26 | 97.6 | 3.83 | 16.45 | 25516300 | AXISBANK.Nov 26 | 606.25 | -1.08 | 9.16 | 59443200 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| GRASIM.Nov 26 | 860 | 2.48 | -16.72 | 16528100 | ADANIPORTS.Nov 26 | 376.75 | -1.49 | -17.44 | 40487500 | |
| IDEA.Nov 26 | 9.9 | 7.03 | -11.31 | 313320000 | PNB.Nov 26 | 29.7 | -1.16 | -5.82 | 52136000 | |
| BANKNIFTY.Nov 26 | 29155 | 0.84 | -7.47 | 1592075 | BANKBARODA.Nov 26 | 47.7 | -0.52 | -5.02 | 50553000 | |
| TATASTEEL.Nov 26 | 533.4 | 1.97 | -6.23 | 31536700 | BATAINDIA.Nov 26 | 1480 | -1.08 | -4.97 | 966900 | |
| NTPC.Nov 26 | 91.85 | 2 | -3.91 | 40361700 | L&TFH.Nov 26 | 71.3 | -0.56 | -4.78 | 31980400 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Hdfc Ltd. | 2334.8 | 0.44 | 5321688 | 4960266 | 71.51 | Nifty it | 21409.25 | 1.4 | 82113 | |
| Kotak Mahindra Bank Limi | 1889.4 | 3.45 | 9116266 | 5376812 | 61.68 | Nifty Fmcg | 31454.35 | 1.19 | 82113 | |
| Asian Paints Limited | 2166.55 | 0.22 | 2196113 | 1628169 | 60.99 | Nifty Bank | 29236 | 1.15 | 82113 | |
| Icici Lombard General In | 1356.3 | 4.62 | 1084021 | 534114 | 59.14 | Nifty Metal | 2774.75 | 0.8 | 82113 | |
| Hindustan Unilever Ltd | 2120.25 | -0.49 | 2827038 | 1586112 | 58.64 | Nifty 50 | 12859.05 | 0.68 | 82113 | |
| Petronet Lng Limited | 258.95 | 2.01 | 6876873 | 3640509 | 57.7 | Nifty Auto | 8684.75 | 0.65 | 82113 | |
| Torrent Power Limited | 307.3 | 0.85 | 1017286 | 1223937 | 57.4 | Nifty Realty | 251.3 | 0.52 | 82113 | |
| Hdfc Life Insurance Comp | 663.9 | 2.76 | 3045488 | 2306306 | 54.75 | Nifty Energy | 15959.75 | 0.05 | 82113 | |
| Infosys Limited | 1103.35 | 0.6 | 8063554 | 5447953 | 53.98 | Nifty Pharma | 11526.75 | -0.34 | 82113 | |
| Nmdc Limited | 93.45 | -2.86 | 10482940 | 8106759 | 52.53 | Nifty Media | 1465.05 | -0.92 | 82113 | |
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UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: FX Reserves, USD on 27th November, 2020 | •USD: Manufacturing PMI (Nov) on 23rd November, 2020
•USD: GDP (QoQ) (Q3) on 25th November, 2020 |
NEWS UPDATES
| • In a huge setback for e-commerce giant Amazon, Competition Commission of India (CCI) on Friday approved the much-anticipated Future Group-Reliance Retail deal. “Commission approves acquisition of retail, wholesale, logistics & warehousing businesses of Future Group by Reliance Retail Ventures Limited and Reliance Retail and Fashion Lifestyle Limited,” CCI said in a tweet. Mukesh Ambani-led Reliance Industries Ltd in August acquired the businesses of Kishore Biyani’s Future Group for ₹24,713 crore to add to its fast expanding retail business.
•Rashtriya Chemicals and Fertilizers Ltd (RCF) has recorded its highest ever daily sale of industrial products of Rs 5.44 crore on November 18, the government said on Friday. S C Mudgerikar, CMD of RCF, said the RCF apart from manufacturing chemical fertilisers and industrial products is actively engaged in promoting the use of organic fertilisers and non-chemical bio fertilisers. •Heavy commercial vehicles-maker Ashok Leyland on Friday said it has incorporated a wholly owned subsidiary ‘Vishwa Buses and Coaches Ltd’ (VBCL) with a paid-up share capital of Rs 60 crore. In a BSE filing, the Hinduja Group company said VBCL is a 100 per cent subsidiary and the initial capital of Rs 60 crore was fully infused by the company at par of Rs 10 each per share. 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 |
| AFEL | Preferential Issue of shares;General | 23-Nov-20 | WISEC | Quarterly Results | 23-Nov-20 |
| AGIIL | Preferential Issue of shares | 23-Nov-20 | AMS | General | 24-Nov-20 |
| AIIL | Right Issue of Equity Shares | 23-Nov-20 | CORNE | Quarterly Results;General | 24-Nov-20 |
| ANSINDUS | A.G.M.;General | 23-Nov-20 | INDINFR | General | 24-Nov-20 |
| PARMCOS-B | A.G.M.;General | 23-Nov-20 | LOYAL | A.G.M.;General | 24-Nov-20 |
| PROSEED | A.G.M.;General | 23-Nov-20 | PPL | Preferential Issue of shares | 24-Nov-20 |
| RAYALEMA | Preferential Issue of shares;A.G.M. | 23-Nov-20 | SONALAD | In. in Authorised Capital;A.G.M.;General | 24-Nov-20 |
| ROLLT | Quarterly Results | 23-Nov-20 | SREEL | Buy Back of Shares | 24-Nov-20 |
| SHARIKA | A.G.M.;General | 23-Nov-20 | AIHL | General | 25-Nov-20 |
| SKL | Half Yearly Results | 23-Nov-20 | BINANIIND | Audited Results | 25-Nov-20 |
| UDAYJEW | General | 23-Nov-20 | COFFEEDAY | Audited Results;Quarterly Results | 25-Nov-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| AUROPHARMA | 23-Nov-20 | Interim Dividend – Rs. – 1.2500 | SAHYADRI | 24-Nov-20 | Interim Dividend – Rs. – 1.50 |
| PETRONET | 23-Nov-20 | Interim Dividend – Rs. – 8.00 | TECHNOE | 24-Nov-20 | Interim Dividend – Rs. – 3.00 |
| PRECWIRE | 23-Nov-20 | Interim Dividend – Rs. – 1.00 | TOWERINFRA | 24-Nov-20 | Income Distribution (InvIT) |
| TIDEWATER | 23-Nov-20 | Interim Dividend – Rs. – 100.00 | VALIANTORG | 24-Nov-20 | Interim Dividend – Rs. – 5.00 |
| GPPL | 24-Nov-20 | Interim Dividend – Rs. – 2.10 | GOCLCORP | 25-Nov-20 | Interim Dividend – Rs. – 4.00 |
| INDAG | 24-Nov-20 | Interim Dividend – Rs. – 0.90 | ORIENTABRA | 25-Nov-20 | Dividend – Rs. – 0.1500 |
| MAYURUNIQ | 24-Nov-20 | Buy Back of Shares | SALORAINTL | 25-Nov-20 | E.G.M. |
| NATCOPHARM | 24-Nov-20 | Interim Dividend – Rs. – 3.00 | STDSHOE | 25-Nov-20 | E.G.M. |
| PRICOLLTD | 24-Nov-20 | Right Issue of Equity Shares | NBCC | 26-Nov-20 | Final Dividend – Rs. – 0.1350 |
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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