Outlook-2019-11-27

NIFTY:

The NIFTY recorded a lifetime new high today. The benchmark index crossed its earlier high to record a new level of 12132 – A level never seen before. New highs are bullish. This is fact of life and markets. It is quite likely that new highs are followed by peroids of consolidation. This is normal and expected. After all, new highs come because of increased momentum. Such increase of momentum cannot continue indefinitely. Markets will pause after a big thrust. This leads to consolidation.

The short-term:

It is possible that the NIFTY may consolidate in the next few days.

The medium-term:

As we have explained, new highs are bullish. We should then expect higher levels in the index. It is difficult to identify a new target as of now. But we should remain upbeat.

VIEW:

Buy on breakout above 12100 with a stop just below 12050.

Buy on a dip towards 12010 with a stop just below 11970.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
     JUBLFOOD 1629.65 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  1610 and for the target of  1660.
     SIEMENS 1493.90 SELL The immediate trend of the stock is weak . The stock can be sell with a stop loss of  1510 and for  the target of  1460-1450.

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
HDFCBANK 1280 CE BUY 7.10 CMP 4 13 OI Increase
Long Buildup 1 Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ICICIBANK.Nov 28 506.65 1.59 56.59 92500375 COALINDIA.Nov 28 196.95 -2.04 0.02 19615200
MOTHERSUMI.Nov 28 135.15 3.13 29.03 27267900 CHOLAFIN.Nov 28 310.2 -2.44 0.07 3477500
HINDUNILVR.Nov 28 2066.15 0.18 26.45 8898900 BALKRISIND.Nov 28 855.15 -0.87 0.17 1386400
BOSCHLTD.Nov 28 16634.55 1 26.25 131160 SRF.Nov 28 3134.8 -0.88 1.11 773750
PETRONET.Nov 28 269.1 1.55 19.33 21561000 MGL.Nov 28 1026.8 -0.81 1.26 1777800
                                                                        Short Covering                                                                            Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
TORNTPHARM.Nov 28 1787.3 1.57 -20.62 204000 CENTURYTEX.Nov 28 452.9 -0.69 -53.01 1246800
UJJIVAN.Nov 28 310.45 1.75 -14.65 5788800 IDFCFIRSTB.Nov 28 43.2 -1.03 -31.45 95256000
JUBLFOOD.Nov 28 1633 1.24 -11.55 1428500 EQUITAS.Nov 28 91.85 -0.76 -27.42 6724000
KOTAKBANK.Nov 28 1605 0.12 -11.46 5234000 NIITTECH.Nov 28 1485.55 -1.11 -23.17 354375
HEXAWARE.Nov 28 339.2 0.89 -9.47 1233000 TATAELXSI.Nov 28 796.7 -0.46 -22.46 582000

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
NTPC Limited 116.65 -1.23 14426269 7000746 64.44 Nifty Bank 31718.35 0.51 83814
Petronet LNG Limited 267.05 0.89 4709143 1701012 64.22 Nifty FMCG 31055.35 -0.1 83814
ICICI PRUDENTIAL LIFE IN 497 -1.95 38245001 2959101 63.09 Nifty 50 12037.7 -0.3 83814
ITC Ltd. 249.15 0.57 19778030 6622333 62.55 Nifty Pharma 8177.85 -0.41 83814
Colgate Palmolive (India 1493.9 -1.34 7265730 477071 61.6 Nifty Metal 2580.55 -0.82 83811
TECH MAHINDRA LIMITED 763.6 0.01 2968850 1112250 60.54 Nifty Auto 8099.9 -0.92 83811
HDFC Ltd. 2304.65 0.44 8808006 2645375 58.33 INDIA VIX 14.84 -1.08 83814
Page Industries Limited 21486.35 -1.92 46290 20087 57.83 Nifty IT 14922.15 -1.18 83814
Oil & Natural Gas Corp 130.25 -0.53 16115025 6879698 57.66 Nifty PSE 3232.5 -1.24 83811
ICICI BANK LTD. 510.7 2.59 2.87E+08 14678060 57.13 Nifty Media 1889.35 -3.63 83811

UPCOMING ECONOMIC DATA

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

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

•USA: GDP (QoQ) (Q3)  on 277h November 2019

•USA: Pending Home Sales (MoM) (Oct)  on 27th November 2019

NEWS UPDATES

•Bharti Airtel  closed with a loss of 4.34 percent on BSE on November 26 after ICRA revised the long-term ratings of the company.ICRA has revised the long-term ratings of the company from “ICRA AA” to “ICRA AA-“

•An order for IndiGo to ground some of its Airbus SE A320neo planes for engine upgrades could impede the expansion of one of the world’s fastest-growing airlines. For every addition to its fleet, IndiGo must ground an A320neo plane that hasn’t had its Pratt & Whitney engines modified, the Directorate General of Civil Aviation said following a series of problems on the carrier’s jets, including in-

•Four companies, including Mukesh Ambani’s Reliance group and Bharti Airtel, on Monday collectively submitted 11 bids for three Anil Ambani group companies, which are up for sale as going concerns as part of the Insolvency and Bankruptcy Code (IBC) process.The three companies for sale are Reliance Communications (RCom), Reliance Telecom (which holds the spectrum), and Reliance Infratel (which controls the tower and fibre assets).

•Bajaj Auto Ltd. is investing $8 million in scooter and bicycle rental startup Yulu in its first investment in electric mobility, weeks after the company unveiled the battery-powered version of its iconic Chetak.

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
GAMMNINFRA Quarterly Results 27-Nov-19 MACH Half Yearly Results 28-Nov-19
MARGOFIN Quarterly Results 27-Nov-19 OISL Quarterly Results 28-Nov-19
MEENST Quarterly Results 27-Nov-19 TALWGYM Quarterly Results 28-Nov-19
SRGHFL Quarterly Results 27-Nov-19 AEL General 29-Nov-19
TI Preferential Issue of shares 27-Nov-19 CHOICEIN Increase in Auth.Cap.;Pref.Issue ; Results 29-Nov-19
VIDEOIND Audited Results 27-Nov-19 EKAMLEA Quarterly Results 29-Nov-19
ZMANSOON Quarterly Results 27-Nov-19 INTECCAP General;Quarterly Results 29-Nov-19
BVL Half Yearly Results 28-Nov-19 LORDSHOTL General 29-Nov-19
DCL Half Yearly Results 28-Nov-19 NDASEC Quarterly Results 29-Nov-19
FRONTCAP Quarterly Results 28-Nov-19 RICOHQ Audited Results 29-Nov-19
GOGIACAP General 28-Nov-19 SATINDLTD Issue Of Warrants 29-Nov-19
IOB Preferential Issue of shares 28-Nov-19 TOYAMIND General 29-Nov-19
GAMMNINFRA Quarterly Results 27-Nov-19 MACH Half Yearly Results 28-Nov-19

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
JAMNAAUTO 28-Nov-19 Interim Dividend – Rs. – 0.18 HEIDELBERG 05-Dec-19 Interim Dividend – Rs. – 1.50
RAMASIGNS 28-Nov-19 Stock  Split From Rs.10/- to Rs.5/- SAGRSOY-B 05-Dec-19 Reduction of Capital
REDINGTON 03-Dec-19 Interim Dividend – Rs. – 1.50 TRIDENT 13-Dec-19 Stock  Split From Rs.10/- to Rs.1/-
MANUGRAPH 04-Dec-19 Dividend – Rs. – 0.50 BOROSIL 18-Dec-19 Dividend – Rs. – 0.65
BRNL 05-Dec-19 Dividend – Rs. – 0.50 BALMLAWRIE 26-Dec-19 Bonus issue 1:2

 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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