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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