The Nifty opened with a large gap up. The gap up was not sustained and this indication came quickly when the nifty started going below the low of the first 15 minutes. The height of the first 15 minutes was never crossed through out the day. This was a classic opening range breakout trade on the downside. A big decline in the Nifty saw the index fall from an intraday high of 13145 to an intraday low of 12834. This was a loss of 300 points intraday and more than 200 points from daybefores close.
Yesterday we had suggested taking a buy above the high of the first 15 minutes, if there was a gap up. This high should have been above 13100 also. While the market did trade above 13100, it never crossed the high of the first 15 minutes.
Nifty made a large, wide range bar closing at the lows of the day. We need to find out if the markets are willing to get support at current levels. This will take some time.
The long term trend continues to remain up. This should not come as a surprise in spite of the decline. The markets are still around its lifetime. A likely explanation is the fact that markets get nervous around good numbers. We may see a consolidation around 13000.
Bank Nifty opened at 30021.90 with a gap up of 218.35 points. The index first rallied and then started moving downside. Prices moved down after one hour of market opening and finally closed at 29196 with a loss of 605 points. Private and PSU Banks did not perform well and only four banks closed in the green. Within the index, in terms of points, Bank of Baroda contributed highest followed by RBL Bank.
Index has come back inside its trading range of 27900 and 29700. The breakout has failed as the markets were not able to sustain over it. However trend remains strong.
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|ICICIGI||1382.85||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1365 and for the target 1400.|
|L&TFH||74.35||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 73 and for the target 77.|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|CANBK||95 CE||BUY||1.85||CMP||1.30||2.90||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|HDFCLIFE.Nov 26||666.9||0.25||35.72||8096000||BAJAJ-AUTO.Nov 26||3061.45||-1.02||41.95||1142000|
|SBILIFE.Nov 26||848.9||1.04||20.55||4029750||ICICIBANK.Nov 26||472.3||-1.5||38.48||45347500|
|BHARATFORG.Nov 26||499.35||0.84||13.27||2868000||TECHM.Nov 26||859.4||-2.03||36.26||7904400|
|SRTRANSFIN.Nov 26||1048.15||3||12.24||2116391||MARICO.Nov 26||367.65||-2.69||34.27||6324000|
|BANDHANBNK.Nov 26||366.1||1.81||9.51||7542000||HDFC.Nov 26||2186.5||-1.71||33.66||14642400|
|Short Covering||Long Unwinding|
|PNB.Nov 26||31.25||2.46||-28||17640000||AMARAJABAT.Nov 26||872||-0.84||-42.61||528000|
|IBULHSGFIN.Nov 26||185.3||2.26||-27.5||10267200||POWERGRID.Nov 26||194.65||-0.03||-30.82||6124000|
|TATACHEM.Nov 26||370.45||0.68||-24.27||1404000||NMDC.Nov 26||93.2||-0.37||-30.17||9956200|
|COALINDIA.Nov 26||124.1||0.36||-17.2||13801000||RBLBANK.Nov 26||226.05||-0.46||-26.45||6455800|
|CANBK.Nov 26||96.35||3.1||-16.74||5995000||IDEA.Nov 26||9.75||-5.34||-25.76||1.1E+08|
TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Icici Lombard General In||1382.85||0.77||838234||666270||75.74||Nifty Media||1472.5||-0.37||76164|
|Britannia Ind Ltd.||3555.8||-0.18||385590||445811||59.21||Nifty Energy||16388||-0.44||76164|
|Nmdc Limited||93.1||-0.21||9628712||9240165||57.67||Nifty Metal||2816.55||-0.8||76164|
|Colgate Palmolive (india||1501.3||-3.51||881887||799863||56.82||Nifty Fmcg||31441.7||-1.23||76164|
|Petronet Lng Limited||257||-0.52||3426942||3951167||56.71||Nifty 50||12858.4||-1.51||76164|
|Kotak Mahindra Bank Limi||1862.45||-3.24||6837169||4950629||55.31||Nifty it||21705.9||-1.62||76164|
|Hdfc Bank Ltd.||1402.8||-2.46||12076300||10998578||54.78||Nifty Auto||8738.45||-1.68||76164|
|Hdfc Ltd.||2191.35||-1.19||6150483||2659204||53.77||Nifty Bank||29196.4||-1.82||76164|
|Sbi Life Insurance Compa||849.05||1.2||2407121||453490||51.85||Nifty Pharma||11635.2||-2.07||76164|
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UPCOMING ECONOMIC DATA
|INR: FX Reserves, USD on 27th November, 2020
INR: GDP Growth Rate Q3 YoY on 30th November, 2020
|•USD: GDP (QoQ) (Q3) on 25th November, 2020
•USD: New Home Sales on 25th November, 2020
|•Indian shares slipped from record highs today as investors booked profits. Nifty 50 index, which had hit a record high of 13,145 in early trade, fell 1.5% to settle at 12,858. The Sensex tumbled nearly 700 points to 43,828, wiping out over ₹2.2 lakh crore of investors’ wealth. Ashis Biswas, head of technical research, CapitalVia Global Research, attributed the sharp selloff in Indian markets to profit-taking after the recent run-up.
•The government on Wednesday approved the merger of Lakshmi Vilas Bank (LVB) with the Indian subsidiary of Singapore’s DBS, said a senior minister on Wednesday, adding that the blame for the lender’s collapse has to be fixed. The Reserve Bank of India (RBI) took over LVB on November 15 due to a “serious deterioration” in its finances and temporarily capped withdrawals from the Chennai-based lender, which has been scouting for a partner since last year amid mounting bad loan and governance issues.
•Alembic Pharmaceuticals on Wednesday said its joint venture Aleor Dermaceuticals has received tentative nod from the US health regulator for generic Testosterone Gel used for treating testosterone deficiency.
•Larsen & Toubro (L&T) on Wednesday said it has secured a large contract to construct the country’s longest road bridge across river Brahmaputra connecting Dhubri in Assam to Phulbari in Meghalaya. The contract was bagged by the company’s subsidiary L&T Construction. As per the company, a large contract is worth Rs 2,500-5,000 crore.
Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|ACROW||General||26-Nov-20||TIINDIA||Preferential Issue of shares||26-Nov-20|
|JMGCORP||Preferential Issue of shares||26-Nov-20||ABCGAS||Quarterly Results||27-Nov-20|
|REMISIN||Voluntary Delisting of Shares||26-Nov-20||BIRLACAP||Quarterly Results||27-Nov-20|
|RIGASUG||A.G.M.;General||26-Nov-20||GARFIBRES||Buy Back of Shares||27-Nov-20|
|SINDHUTRAD||Quarterly Results||26-Nov-20||HTMEDIA||Quarterly Results||27-Nov-20|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|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|
|INDINFR||01-Dec-20||Income Distribution (InvIT)||GIPCL||03-Dec-20||Final Dividend – Rs. – 2.90|
|JUMPNET||01-Dec-20||Dividend – Rs. – 0.20||JBMA||03-Dec-20||Final Dividend – Rs. – 1.7500|
|NATIONALUM||01-Dec-20||Interim Dividend – Rs. – 0.50||KANCHI||03-Dec-20||Buy Back of Shares|
|SAKUMA||01-Dec-20||Final Dividend – Rs. – 0.10||OAL||03-Dec-20||Interim Dividend – Rs. – 2.50|
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
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