Outlook-2019-11-26

NIFTY:

Patience has its own rewards. For weeks we have pointed out that the markets is in a trading range and a  big move is imminent. We have also said we do not know when that move will come. On Friday, we pointed out that the NIFTY had gone through a minor correction and the time was ripe to take up buying trade.

The markets to blight us by opening just mildly higher allowing us to enter the trade much below 12000. the index then rallied 160 points to close significantly higher than 12000.

A breakout must be respected. It is possible that the markets may again pause before resuming their advance or even go through a minor correction.

The trade is simple; be on the long side of the market, buy on dips. Do not get perturbed by minor dips or even a test of 12000 or a test of 11950 the markets will do a lot to confuse us. Our view is simple: A breakout has occured and we respect that breakout. Stay long with a stop under 11900.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
     BERGEPAINT 489.25 BUY The stock has given the breakout with volume  on the intraday as well as on the daily chart. The stock can be bought between 485-486 with a stop loss of  481 and for the target of  495.
     ONGC 130.80 SELL The immediate trend of the stock is weak . The stock can be sell with a stop loss of  132.50 and for  the target of  127.

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
ICICIBANK 500 CE BUY 7.90 CMP 4.50 13.50 OI Increase

 

Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
HDFC.Nov 28 2297.55 2.72 21.07 36807750 ONGC.Nov 28 131.1 -2.05 15.18 22338750
HINDALCO.Nov 28 199.2 4.46 21.02 32081000 YESBANK.Nov 28 63.85 -1.39 14.18 182331600
EICHERMOT.Nov 28 23351.3 2.66 19.18 335400 BEL.Nov 28 106.85 -1.93 8.67 28116000
BHARATFORG.Nov 28 449.75 0.29 19.05 9037200 PETRONET.Nov 28 264.7 -0.17 8.13 21339000
HEROMOTOCO.Nov 28 2478 1.42 18.14 4054000 AMBUJACEM.Nov 28 200.5 -0.05 7.94 18022500
                                                                        Short Covering                                                                            Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
NIFTYIT.Nov 28 15193 0.51 -28.43 7300 MANAPPURAM.Nov 28 160.6 -0.25 -6.91 13908000
TORNTPHARM.Nov 28 1759.5 2.58 -14.65 303000 IGL.Nov 28 400.85 -0.9 -4.21 5010500
RAMCOCEM.Nov 28 796.4 0.07 -13.47 786400 DISHTV.Nov 28 15.9 -0.93 -3.73 1.04E+08
TATAELXSI.Nov 28 801.3 1.57 -13.36 805200 CENTURYTEX.Nov 28 453.55 -0.25 -1.53 3054000
RBLBANK.Nov 28 359.85 0.32 -10.51 9560400 TORNTPOWER.Nov 28 281.5 -0.09 -0.07 4413000

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Ambuja Cements Ltd 200.7 -0.05 1484115 3560778 73.25 Nifty Metal 2602 3.21 85941
ICICI PRUDENTIAL LIFE IN 506.9 1.87 4690342 1675981 68.61 Nifty Pharma 8211.55 1.79 85941
HDFC BANK LTD. 1271.1 0.5 3946778 2523967 65.66 Nifty Realty 280.7 1.76 85941
HCL Technologies Ltd. 1124.75 0.9 846601 814156 62.68 Nifty Auto 8174.75 1.74 85941
Power Grid Corporation o 198.6 -0.08 3672627 5632197 61.81 Nifty Bank 31555.9 1.43 85941
TATA CONSULTANCY SERV LT 2081.5 0.47 2737010 2162742 57.8 Nifty 50 12073.75 1.34 85941
HDFC Ltd. 2294.55 2.56 4535037 1253887 57.35 Nifty FMCG 31085.6 0.9 85941
MARICO LIMITED 358.35 0.15 984989 465854 57.23 INDIA VIX 15 0.89 85941
ICICI BANK LTD. 497.8 0.2 25692878 10452380 56.61 Nifty IT 15100.6 0.7 85941
Wipro Ltd 243 -0.04 1891197 2263291 55.32 Nifty Media 1960.45 -0.91 85941

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR:  GDP  Quarterly (YoY) ( Q2) on 29th  November 2019

•INR:  Infrastructure Output (YoY) (Oct) on 29th November 2019

•USA:  New Home Sales (Oct) on 26th November 2019

•USA:  GDP (QoQ) (Q3) on 27th November 2019

NEWS UPDATES

1. Reliance Communications on Sunday said its lenders have rejected the resignation of Chairman Anil Ambani and four other directors and asked them to cooperate in the ongoing corporate insolvency resolution process. Ambani along with four directors — Ryna Karani, Chhaya Virani, Manjari Kacker and Suresh Rangachar — had resigned from the company earlier this month.

2. Tata Motors, Tata Motors with differential voting right (DVR), Yes Bank and Vedanta will be dropped from the BSE’s benchmark Sensex from December 23. In their places, UltraTech Cement, Titan and Nestle India will be added in the index.

3. Muthoot Finance, said it has entered into an agreement to acquire IDBI Bank’s mutual fund unit, marking its entry into mutual fund asset management space. Upon completion of the transaction, Muthoot Finance will purchase 100 per cent equity shares of IDBI Asset Management Limited and IDBI MF Trustee Company.

4. The US Food and Drug Administration has observed several violations and shortcomings in Aurobindo Pharma’s sterile injections facility in Pashamylaram, Hyderabad, in yet another setback for the firm.

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ANUPAM Quarterly Results 26-Nov-19 TALWGYM Quarterly Results 28-Nov-19
AVL Buy Back of Shares;General 26-Nov-19 AEL General 29-Nov-19
DYNAMICP Quarterly Results 26-Nov-19 CHOICEIN Increase in Authorised Capital 29-Nov-19
JFL Half Yearly Results 26-Nov-19 EKAMLEA Quarterly Results 29-Nov-19
GAMMNINFRA Quarterly Results 27-Nov-19 INTECCAP General;Quarterly Results 29-Nov-19
MARGOFIN Quarterly Results 27-Nov-19 NDASEC Quarterly Results 29-Nov-19
SRGHFL Quarterly Results 27-Nov-19 RICOHQ Audited Results 29-Nov-19
BVL Half Yearly Results 28-Nov-19 SATINDLTD Issue Of Warrants 29-Nov-19
DCL Half Yearly Results 28-Nov-19 TOYAMIND General 29-Nov-19
FRONTCAP Quarterly Results 28-Nov-19 AKASHDEEP Quarterly Results 30-Nov-19
GOGIACAP General 28-Nov-19 BCPL General 30-Nov-19
IOB Preferential Issue of shares 28-Nov-19 CLLIMITED Quarterly Results 30-Nov-19
OISL Quarterly Results 28-Nov-19 EVANS Interim Dividend 30-Nov-19

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
MOIL 26-Nov-19 Buy Back of Shares REDINGTON 03-Dec-19 Interim Dividend – Rs. – 1.50
JAMNAAUTO 28-Nov-19 Interim Dividend – Rs. – 0.1800 MANUGRAPH 04-Dec-19 Dividend – Rs. – 0.50
RAMASIGNS 28-Nov-19 Stock  Split From Rs.10/- to Rs.5/- BRNL 05-Dec-19 Dividend – Rs. – 0.50
REDINGTON 3-Dec-19 Interim Dividend – Rs. – 1.5000 SAGRSOY-B 05-Dec-19 Reduction of Capital
MANUGRAPH 4-Dec-19 Dividend – Rs. – 0.5000 TRIDENT 13-Dec-19 Stock  Split From Rs.10/- to Rs.1/-
BRNL 5-Dec-19 Dividend – Rs. – 0.5000 BOROSIL 18-Dec-19 Dividend – Rs. – 0.65
HEIDELBERG 5-Dec-19 Interim Dividend – Rs. – 1.5000 BALMLAWRIE 26-Dec-19 Bonus issue 1:2
MOIL 26-Nov-19 Buy Back of Shares REDINGTON 03-Dec-19 Interim Dividend – Rs. – 1.50
BOROSIL 18-Dec-19 Dividend – Rs. – 0.6500 MANUGRAPH 04-Dec-19 Dividend – Rs. – 0.50

 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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