NIFTY:
The Nifty opened at 13002.60 with a gap up of 76 points. The index made its intraday low within the first five minutes of trading and rallied almost 50 points. The index then saw a sharp fall of almost equal points. Around 11:30 AM, the index again started moving higher and that move continued till the end of the day’s trading session. Prices have rallied almost 80 points and finally closed at 13055.15 up by 128.70 points. All the sectoral indices have contributed to the upside and closed with gains. Banks have outperformed the whole market.
It was a trend day on the upside where open was near the intraday lows and close was near the intraday highs. The index traded in a narrow range of almost 100 points when compared to the last few sessions, but the direction was without any doubt up. Nifty touched another milestone as it crossed 13000 for the first time and also closed above this level.
We had yesterday mentioned a trading range of 12750-13000. Prices opened above this range and remained higher for the whole day. Pattern target for this breakout comes at 13250.
We should look to buy the index above 13100 with a stop below 13000 and for the target of 13250.
BANK NIFTY:
Bank Nifty opened at 29265.60 with a gap up of 234 points. The index first rallied and then traded sideways. Prices again moved up in the second half and finally closed at 29737 with a gain of 771 points. Private Banks have outperformed and closed higher by 2.33% while PSU Banks have closed higher by 1.11%. Within the index, in terms of points, HDFC Bank contributed highest followed by Axis Bank.
A trading range with support at 27000 and resistance at 29700 has broken on the upside; another close above 29700 will be able to confirm this breakout.
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TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| TATA POWER | 59.95 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 58.30 and for the target 63 |
| SUNPHARMA | 520.15 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 504 and for the target 520. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| LICHSGFIN | 320 CE | BUY | 7.40 | CMP | 5 | 11 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| TATAPOWER.Nov 26 | 60.15 | 2.04 | 33.22 | 86791500 | ICICIPRULI.Nov 26 | 450.4 | -0.85 | 27.12 | 7965000 | |
| ICICIGI.Nov 26 | 1370.55 | 1.3 | 28.49 | 484925 | MARICO.Nov 26 | 377.85 | -0.01 | 26.96 | 8788000 | |
| HINDALCO.Nov 26 | 225.7 | 3.39 | 27.92 | 27485600 | NAUKRI.Nov 26 | 4039.25 | -0.3 | 23.11 | 650000 | |
| ICICIBANK.Nov 26 | 480.5 | 2.38 | 21.16 | 80199625 | GODREJCP.Nov 26 | 708.9 | -0.09 | 22.86 | 4096000 | |
| MARUTI.Nov 26 | 7154.95 | 2.46 | 20.83 | 2457800 | PIDILITIND.Nov 26 | 1584.85 | -0.01 | 22.73 | 2929000 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| GODREJPROP.Nov 26 | 1123.95 | 3.14 | -27.19 | 814450 | GRASIM.Nov 26 | 855.35 | 0 | -32.8 | 5282950 | |
| COFORGE.Nov 26 | 2425 | 0.09 | -24.01 | 351375 | SUNTV.Nov 26 | 426.3 | -0.94 | -23.56 | 2604000 | |
| CANBK.Nov 26 | 93.75 | 0.59 | -23.68 | 10170000 | MGL.Nov 26 | 943.9 | -0.06 | -17.99 | 716400 | |
| PNB.Nov 26 | 30.5 | 1.16 | -16.05 | 38724000 | NMDC.Nov 26 | 93.6 | -0.21 | -17.37 | 17714800 | |
| GLENMARK.Nov 26 | 482.5 | 0.68 | -15.12 | 3797300 | ACC.Nov 26 | 1694.3 | -1.68 | -15.05 | ||
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Sbi Life Insurance Compa | 838.95 | 0.88 | 874577 | 1128960 | 67.64 | Nifty Bank | 29737.25 | 2.46 | 80850 | |
| Kotak Mahindra Bank Limi | 1924.9 | 1.43 | 8949886 | 6731789 | 64.46 | Nifty Realty | 258.3 | 1.79 | 80850 | |
| Asian Paints Limited | 2207.9 | 0.99 | 2954306 | 2465120 | 61.59 | Nifty Auto | 8887.95 | 1.71 | 80850 | |
| Icici Lombard General In | 1372.25 | 1.43 | 879626 | 342986 | 60.37 | Nifty Pharma | 11880.8 | 1.22 | 80850 | |
| Ultratech Cement Limited | 4873.2 | -0.33 | 372131 | 239315 | 54.56 | Nifty Metal | 2839.15 | 1.09 | 80850 | |
| Hindustan Unilever Ltd | 2157.35 | 1.31 | 1989749 | 1763722 | 54.36 | Nifty 50 | 13055.15 | 1 | 80850 | |
| Power Grid Corporation o | 194.5 | -0.13 | 8611074 | 6048216 | 51.42 | Nifty Fmcg | 31832.2 | 0.84 | 80850 | |
| Nestleind | 17677.6 | -0.61 | 214497 | 103387 | 51.02 | Nifty Energy | 16460.55 | 0.34 | 80850 | |
| Hdfc Ltd. | 2217.7 | -1.47 | 4945274 | 3547873 | 50.72 | Nifty it | 22064.3 | 0.26 | 80850 | |
| Pidilite Industries Ltd | 1586.4 | 0.08 | 1169594 | 506713 | 50.63 | Nifty Media | 1478 | 0.05 | 80850 | |
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UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: FX Reserves, USD on 27th November, 2020
INR: GDP Growth Rate Q3 YoY on 30th November, 2020 |
•USD: Core Durable Goods Orders (MoM) (Oct) on 25th November, 2020
•USD: GDP (QoQ) (Q3) on 25th November, 2020 |
NEWS UPDATES
| •The dream run of the domestic equities reached a new pinnacle on Tuesday when the Nifty50 index surpassed the 13,000-mark for the first time ever. The S&P BSE Sensex, meanwhile, kissed the 44,500-mark in intra-day deals. A cocktail of better-than-expected earnings, improved Goods and Services Tax (GST) collection, better macro-data, and progress in Covid-19 vaccine development has pushed the markets to their peaks.
•India’s two-wheeler exports will see sustained growth in the second half of next fiscal after witnessing temporary hurdles in the first half this year due to COVID-19 and weakened crude oil prices, hurting the economies of key exporting destinations, according to ratings agency Ind-Ra. Exports momentum is expected to continue in the remaining part of FY21 and FY22. •Reliance Industries Ltd said that subsidiary Jio Platforms has received Rs 33,737 crore from Google for a 7.73% stake, the US internet giant’s biggest-ever investment in an Indian company. •India can’t risk the greater concentration of economic and political power that may come along with the entry of large corporate houses into banking, said former RBI Governor Raghuram Rajan. Rajan’s comments come in response to a recommendation from an RBI internal working group to permit corporate houses to vie for banking licences. •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 |
| AIHL | General | 25-Nov-20 | MTEDUCARE | A.G.M.;General;Quarterly Results | 25-Nov-20 |
| BINANIIND | Audited Results | 25-Nov-20 | SIEMENS | Audited Results;Final Dividend | 25-Nov-20 |
| COFFEEDAY | Audited Results;Quarterly Results | 25-Nov-20 | SPANDANA | General | 25-Nov-20 |
| CONTCHM | A.G.M.;General | 25-Nov-20 | UNIONBANK | General | 25-Nov-20 |
| DHFL | Quarterly Results | 25-Nov-20 | VIKASPROP | Quarterly Results | 25-Nov-20 |
| ELEFLOR | General | 25-Nov-20 | VISHALBL | A.G.M.;General | 25-Nov-20 |
| GOPALA | Reduction of Capital | 25-Nov-20 | ACROW | General | 26-Nov-20 |
| LEDOTEA | Voluntary Delisting of Shares | 25-Nov-20 | BLCISER | General | 26-Nov-20 |
| MAHIP | Half Yearly Results | 25-Nov-20 | CNIRESLTD | A.G.M. | 26-Nov-20 |
| MDRNSTL | A.G.M.;General | 25-Nov-20 | GLOBUSCOR | A.G.M.;General;Quarterly Results | 26-Nov-20 |
| MNPLFIN | A.G.M.;General | 25-Nov-20 | IDBI | General | 26-Nov-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| GOCLCORP | 25-Nov-20 | Interim Dividend – Rs. – 4.00 | INDINFR | 01-Dec-20 | Income Distribution (InvIT) |
| ORIENTABRA | 25-Nov-20 | Dividend – Rs. – 0.1500 | JUMPNET | 01-Dec-20 | Dividend – Rs. – 0.20 |
| SALORAINTL | 25-Nov-20 | E.G.M. | NATIONALUM | 01-Dec-20 | Interim Dividend – Rs. – 0.50 |
| STDSHOE | 25-Nov-20 | E.G.M. | SAKUMA | 01-Dec-20 | Final Dividend – Rs. – 0.10 |
| NBCC | 26-Nov-20 | Final Dividend – Rs. – 0.1350 | SHISHIND | 01-Dec-20 | Bonus issue 6:5 |
| TCS | 26-Nov-20 | Buy Back of Shares | VLSFINANCE | 02-Dec-20 | Dividend – Rs. – 1.50 |
| 63MOONS | 01-Dec-20 | Dividend – Rs. – 2.00 | DEEP | 03-Dec-20 | E.G.M. |
| BAJAJHCARE | 01-Dec-20 | Interim Dividend – Rs. – 1.2500 | GENCON | 03-Dec-20 | Final Dividend – Rs. – 0.0500 |
| BAJAJHCARE | 01-Dec-20 | Special Dividend – Rs. – 0.50 | GICHSGFIN | 03-Dec-20 | Final Dividend – Rs. – 2.00 |
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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